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Equipment failure caused the production of substandard vaccine by Wuhan Institute of Biological Products Co, the Hubei province Food and Drug Administration revealed on Friday.

The vaccine packing equipment experienced a temporary fault that led to the uneven distribution of effective elements in the vaccine suspension, it said in a statement.

Wuhan Institute of Biological Products, based in Hubei, produced a batch of 400,520 doses of substandard diphtheria, tetanus and whooping cough vaccine (DTaP) for infants. Another manufacturer, Changchun Changsheng Bio-tech Co in Jilin province, produced 252,600 substandard doses.

The 400,520 doses of substandard vaccine produced by Wuhan Institute of Biological Products were sold to Chongqing municipality and Hebei province, the administration said.

The number of children vaccinated with them has not been revealed, but the administration said the remaining substandard doses had been recalled and destroyed by the manufacturer.

It said health departments in Hebei and Chongqing had arranged since February for children given the substandard vaccine to be revaccinated.

The 252,600 doses of vaccine produced by Changchun Changsheng Bio-tech Co were all sold in Shandong province, with 215,184 children being vaccinated, according to the Center for Disease Control and Prevention in Shandong.

The China Center for Disease Control and Prevention said the substandard DTaP vaccines are not harmful to the human body, but could lead to poor immunity from the diseases targeted.

Construction of two container ships with the carrying capacity of 22,000 TEUs, which would make them the largest container vessels in the world, began on Thursday, the paper.cn reported.

The two are among nine 22,000 TEU vessels deal signed by French container shipping operator CMA CGM and China State Shipbuilding Corporation (CSSC) in September last year.

Built by Shanghai-based Jiangnan Shipyard and Hudong-Zhonghua Shipbuilding, the two container vessels measure 400 meters in length, 61.3 meters in breadth and 33.5 meters in depth.

The deadweight of the box ship is 220,000 DWT, which can contain 1,000,000,000 iPhoneX (with standard packing box). Moreover, it can still hold 2,200 4-foot refrigerated containers, accounting 20 percent of the whole TEU.

Besides, they are also the world's first giant container ships propelling with engines burning liquefied natural gas, a technology breakthrough for environmental protection. They have distinctive advantages compared to the current ships using heavy fuel oil: Up to 25 percent less CO2, 99 percent less sulphur emissions, 99 percent less fine particles and 85 percent nitrogen oxides emissions.

The two vessels are expected to be delivered in 2019.

Judging by the statements of its member states and the theme of the ongoing 10th BRICS summit, "BRICS in Africa: Collaboration for Inclusive Growth and Shared Prosperity in the 4th Industrial Revolution", the five-nation bloc affirms, through concrete actions, its commitment to support multilateralism and the democratization of the international trading system in the face of US trade protectionism and unilateralism.

The tariff war ignited by the United States could evolve into a full-blown trade war and stunt global economic growth, causing greater difficulties in developing countries. In addition, it is weakening the World Trade Organization, and questioning the effectiveness and legitimacy of the organization.

Unilateral trade measures that cause widespread damage to a number of countries may not only lose their "protective" character for the domestic market and jobs, but also, and more importantly, become an "act of aggression" against the markets and jobs in other countries. The WTO was created precisely to be the institutional-normative framework of reference for all member countries in determining their action limits in global trade, in order to promote "competition", not a commercial "war", between them.

Given this context, it is necessary for the BRICS countries to remove the danger of unilateralist rhetoric and US protectionist measures by emphatically supporting the multilateral trading system of the WTO and increasing intra-BRICS trade. In this regard, much has to be done, as China is the only country among the five BRICS members that has substantial bilateral trade relations with each of the other four.

Besides, the expansion of intra-BRICS trade should be accompanied by the enlargement of BRICS as a political and economic platform. At last year's summit in Xiamen, East China's Fujian province, China proposed the concept of "BRICS Plus", a cooperation approach to build an open and diversified network of emerging and developing economies for mutual benefits.

World Bank reports show the trend of increased participation of these emerging economies in the global economy. So, if there is a vertical deepening of intra-BRICS trade relations to be done, the horizontal extension of BRICS so as to admit new members will promote the democratization of the international system. However, the enlargement process must take into account certain criteria, including the maintenance of the BRICS' original reform agenda toward some international organizations. In this respect, probably the WTO must be one of those that needs to be reformed.

Finally, each one of the BRICS countries could promote initiatives which would strengthen international trade. China will set an apt example later this year when it holds the first China International Import Expo in Shanghai on Nov 5-10. Known as an exports-dependent nation, China now wants to buy more foreign goods and services to meet the growing domestic demand for more and better products.

The Shanghai expo that will see the participation of more than 100 countries and regions would be a perfect example of an initiative that favors the promotion of free global trade. Perhaps the BRICS Business Council could play a more active role in the expo, and envision similar initiatives for the future.

It is time for concrete initiatives. BRICS has the opportunity to react positively to unilateralism and protectionism, without letting the obstacles created by the US to paralyze it. Contrary to what may be assumed, the current moment is a great opportunity for BRICS to show its commitment to building a community with a shared future for mankind.

United States' accusations against China of unfair trade practices related to intellectual property protection and technology transfer are unfounded, the Ministry of Commerce said on Thursday.

The comment was made after a two-day public hearing by the Office of the US Trade Representative was wrapped up in Washington proposing tariffs on another $16 billion worth of Chinese exports.

In hundreds of comments sent by business associations to the US trade authority office, more than 90 percent opposed the newly proposed tariffs, said Gao Feng, the ministry's spokesman.

"Since the US conducted a Section 301 investigation, the US has been intensifying trade frictions while blaming China for the negotiations being at a standstill," Gao said.

Section 301 deals with intellectual property rights issues.

The two countries have not yet been in touch regarding a possible timetable for a resumption of negotiations, Gao said.

"China has said many times that it is never eager to take part in a trade war, but it is not afraid to participate if necessary. China will firmly defend its legitimate rights," he said, adding that the country will enhance cooperation with its global trading partners and firmly defend free trade principles and a multilateral trade mechanism.

The US trade authority also identified an additional $200 billion in goods slated for a 10 percent duty hike after China recently retaliated amid the escalating trade dispute. US President Donald Trump has said he is "ready to go" with tariffs on $500 billion in imports.

Gao said the US, for domestic political agenda purposes, would rather sabotage the current hard-earned global trade system as well as damage the rights and interests of companies along the entire value chain, including the US agricultural sector.

"But such blackmailing and threats will not have any impact on China," he stressed.

Of the tariffs targeting $50 billion in Chinese goods, $34 billion worth took effect on July 6, and the remainder depends on the outcome of the two-day US Trade Representative hearing, which concluded on Wednesday.

"The proposed action is not in the interests of the United States," the China Chamber of Commerce said. "Raising tariffs will not only hurt US importers, retailers and downstream industries, but also result in a higher cost of living for ordinary Americans and put millions of US jobs that are tied to trade with China at risk."

Semiconductors are the fourth-largest US export by revenue, with a trade surplus of over $6 billion in 2017, and the US has consistently had a semiconductor trade surplus with China, with a surplus of approximately $2 billion in 2017, according to the US International Trade Commission.

On the import side, many Chinese-made semiconductors coming into the US are designed and/or manufactured in the US and shipped to China for the final stage of assembly, testing and packaging, the Semiconductor Industry Association said.

"Tariffs on US semiconductor-related imports from China would cause US companies to pay tariffs on their own products," the association said.

Summit speech urges joint efforts to 'unlock enormous potential'

BRICS member countries should deepen their strategic partnership and enhance cooperation in such areas as trade, investment, finance and interconnectivity, President Xi Jinping said on Thursday.

In his speech at the opening of the BRICS Summit held in Johannesburg, Xi said that BRICS countries should push forward free trade, facilitate investment and firmly oppose protectionism.

The BRICS countries — Brazil, Russia, India, China and South Africa — should safeguard the multilateral trading system under the framework of the United Nations, the G20 and the World Trade Organization, Xi said.

"We must unlock the enormous potential of our economic cooperation," he said, adding that closer economic partnerships for shared prosperity is the top priority for BRICS.

China will carry out a project to enhance human resources cooperation, invite experts from the five countries to draft a blueprint for working together in a new industrial revolution and improve the competitiveness of emerging markets and developing countries, Xi said.

He called on BRICS members to uphold multilateralism, safeguard the principle of the UN Charter, encourage all parties to resolve disputes through coordination and jointly build a new type of international relations.

It is important for BRICS countries to continue to pursue innovation-driven development and strengthen coordination on macroeconomic policies, Xi said, adding that BRICS members should reinforce their efforts to renew and upgrade economic drivers.

Noting that new global growth drivers will replace old ones in the coming decade, he said several problems remain, such as north-south development imbalances.

Xi pointed out that the growth of emerging markets and developing countries are still being influenced by regional conflicts, unilateralism and protectionism.

BRICS countries should deepen people-to-people exchanges and enhance cooperation in areas including culture, education, health, sports and tourism, Xi said.

The five member countries set up the BRICS Plus cooperation mode during the BRICS Xiamen Summit held in China in September, he said, adding that BRICS' "circle of friends" should be continuously expanded.

BRICS countries should strengthen cooperation to make the second golden decade a reality, Xi said.

Beijing:

China on Friday reacted angrily over US President Donald Trump’s action of slapping heavy tariffs on Chinese exports, calling it “the largest trade war in economic history” between the world’s top two economies.


Beijing said that it has put into action a series of retaliatory actions against US trade which became effective the moment Trump’s decision was enforced.

But the Chinese commerce ministry did not spell out the details of its actions. “The duties are typical bullying behaviour, which will have a serious impact on the global industrial and value chain and pose obstacles to global economic recovery,” the Chinese ministry said.

China has limited scope of punishing US because its exports are limited. Besides, it cannot take negative action in several areas because it might boomerang on Chinese companies. Some American products have Chinese components in terms of machine parts made and exported from China.

China received support from an unlikely quarter, the American Chamber of Commerce in China, which expressed concern over PresideTrump’s moves.

“There are no winners in a trade war. Counter-productive import tariffs, such as these, hurt not only the economies of the US and China but those of every country in the world,” the body’s chairman William Zarit said.

US kicks off trade war with China
Rest Of World Too Will Be Hit By Trump Move


Washington:

The US and China slid into an unprecedented trade war on Friday. The world’s two largest economies slapped tariffs on $34 billion each on imports from the other country in an opening salvo that could soon take the entire world into an economic slowdown.


President Trump indicated to reporters on Thursday that he will bump it up to tariffs on $50 billion worth of Chinese goods in two weeks if Beijing continues with titfor-tat measures. And if China did not back down, he warned that he would up the stakes, first to tariffs on $200 billion worth of Chinese goods, and then to $ 500 billion, which is pretty much the entire complement of Chinese exports to the US.

In contrast, China imports only about $125 billion worth of goods from the US. The President and his aides clearly feel they have the upper hand in forcing Beijing to address the $ 375 billion trade deficit by buying more American goods to level the playing field.

China though has indicated that even if it has the lighter hand in imposing reciprocal punitive tariffs, it will not be bullied into buying American goods it does not need. Analysts say it can resort to some unconventional methods to inconvenience American businesses in China, with some fearing could mean tougher and subjective scrutiny on companies such as Starbucks and Apple, taking the trade war to uncharted territory.

“US measures are essentially attacking global supply and value chains. To put it simply, the US is opening fire on the entire world, including itself,” China’s commerce ministry spokesman Gao Feng said in Beijing.

The contagion is expected to spread. Trump has slapped tariffs on all major US trading partners: China, Canada, Mexico, the European Union and Japan (India is way down the line but is not excepted). All but Japan have imposed retaliatory tariffs.

The US imported nearly $ 2.4 trillion in goods in 2017, and as of now the tariffs are not particularly painful to American consumers (although prices of goods such as imported washing machines have risen) because they cover less than 5% of the imported goods. But if the issue is not resolved and Trump raises the stakes to tariffs on $ 800 billion imports from all major trading partners, everyone will feel the bite.

US tariffs on $34 billion in Chinese goods kicked into effort at midnight on Thursday, with 25% duties on a range of products including motor vehicles, computer disk drives, parts of pumps, valves and printers and many other industrial components. Merchant ships from both sides raced to ports to beat the midnight deadline, even as analysts warned there would be no winners in the trade war, just end-of-the-line losers among consumers and producers.

India is a relatively modest player in the global trade sweepstakes with a $ 23 billion trade gap with US. But Trump’s fundamentally nativist outlook and his take-no-prisoners, give-no-quarter negotiating style, Indian officials are acknowledging privately, comes as a sobering reminder that there is no such thing as a free lunch or friendship based on geo-politics with a businessman-President.

In fact, the scuttlebutt in Washington is that the Chinese were keen on making a deal to whittle down their surplus by pledging to buy $200 billion worth of American goods during talks in May, but the US President instructed his negotiators to seek ironclad guarantees, not just promises.

Trump’s minions were not impressed either with New Delhi’s projections that it would be buying billions worth of American airplanes, energy, and armaments in the coming decade, which would cumulatively wipe out the current $ 23 billion trade deficit. Many countries, including India, have complained that there are too many restrictions on American exports that they actually want, and Washington simply wants to unload its excesses, such a chicken legs, on countries that don’t particularly need them.


WHEN CHINA ROOTED FOR A CARGO SHIP: An illustration shows Peak Pegasus, a cargo vessel carrying soybeans from the US to the port in Dalian, China, on a ship-tracking screen. On Friday, China’s social media was rooting for the ship to beat the deadline before Chinese tariffs kicked in. Tracking the journey of the vessel was the 34th-highest trending topic on the country’s Twitter-like Weibo on Friday, beating the World Cup, showbiz gossip and Beijing’s escalating trade war with Washington. However, the Peak Pegasus fell short. At 5.30pm (local time), it was at anchor near Dalian, missing the noon deadline

This week witnessed the launch and unveiling of eminent poet and lyricist Basant Chaudhary’s book of poetry titled Chaahaton Ke Saaye Mein- In the Shadow of Desires at JW Marriott, Juhu. Sonu Nigam along with lyricist Sameer unveiled the book in which Chaudhary has tried to decipher the various facets of love in an interesting manner. In his fifth poetic compilation, readers can enjoy a collection of more than a hundred poems, nazms and ghazals, which have the underlying theme of love. Also translated in English by Sunjoy Shekhar, the book appeals to purists as well as the millennial generation thanks to its simple language and style of expression.

The event started off with Chaudhary discussing the many facets of love at the book-reading session, which was attended by Hasan Kamal, Sagar Tripathi, Shahid Hamdaanie, Danish Javed, Penaz Masani and Markand Adhikari.


Later, the soulful rendering of the title poem, sung by Sonu Nigam enthralled guests. Released by Times Music, the song, which is composed by Rinkoo Sushant-Shankar, strikes a chord. Vishwas Kini and Suelen feature in the video directed by Prathamesh Patil.

On the occasion, Chaudhary said, “Chaahaton ke Saaye Mein... is a journey to understand love from a very close perspective.” Added Sonu Nigam, “Basantji has penned a soulful song with equally good music and it has been filmed very well.”

Published by Times Group Books in collaboration with Times Music, the book is available at all leading bookstores and online platforms like Amazon, Flipkart, Infibeam etc.

HRITHIK ROSHAN Started HRX, a lifestyle brand, in 2012 Brand licensed exclusively to Myntra in 2013 Myntra buys 51% stake in HRX in 2016 Signs Rs 100 crore deal with fitness startup Curefit in 2017, which includes equity stake in the company in lieu of cash investment, promotions and royalty from his curated HRX workout Estimated value of HRX: Rs 200 crore

GUL PANAG Co-founded fitness startup MobieFit in 2015 Is personal running coach on startup’s app, demonstrating stretches, dispensing running and diet tips Gets monthly updates on the startup’s progress, steps in as and when needed MobieFit raised $1.35m (Rs 8.85cr) in Pre-Series A funding in 2017

MAHESH BHUPATHI Co-founded sportswear brand Zeven in 2016 Leverages his network to close deals Zeven is kit partner for IPL team Royal Challengers Bangalore Acquired rights for ICC merchandise in 23 markets, including India

Celebrities no longer just endorse brands and collect a pay cheque; they jump right into the nuts and bolts of business, making angel investments and taking sweat equity in startups

When Gourav Jaswal, founder of Goa-based incubator Prototyze, started work on a plan for a fitness startup, he knew he needed a co-founder and brand ambassador who embodied the product. His friend Gul Panag — known largely as an actor and social activist until she turned entrepreneur — seemed the perfect fit.

“She comes with fitness credentials. She also represents an intellectual and ethical position in society, which is important to us,” says Jaswal, who started MobieFit in 2015 with Panag. The actor is the personal running coach on the startup’s app, demonstrating stretches and dispensing running and diet tips.


Celebrities no longer just endorse products or brands, they’re jumping right into the business, making angel investments or taking sweat equity. Most work with professionals, relying on the latter’s business acumen and experience to make a go of it.

India cricket captain — and the country’s most valuable celebrity brand with endorsements worth $144 million — Virat Kohli launched his clothing line WROGN with online celebrity fashion business Universal Sportsbiz (USPL), which also owns Collectabillia and Imara, a few years ago. USPL, founded in 2012, is backed by cricketing legend Sachin Tendulkar and recently raised Rs 100 crore from Accel Partners.

Though stars in India often rise to the status of demigods, they haven’t fully exploited their brand value, feel experts. Globally, even celebrities like Victoria Beckham and Mary-Kate and Ashley Olsen, who don’t have the fan following of many Indian stars, have gone on to build hugely successful celebrity fashion lines.

It’s this gap that people like K Ganesh, serial entrepreneur and partner at Growth-Story, plan to exploit. He’s set to have his celebrity e-commerce business up and running in six months though he’s not ready to share details. He’s convinced that customers are no longer swayed by traditional advertising. “Millennials are looking for a cause, a community and a narrative. They are happy with micro brands that address a specific cause or need, such as cruelty-free products. They research and buy online, relying on influencers,” he says.

While the younger crop of stars tends to establish their own brands and work with startups, older celebrities seem to prefer investing. Actor Suniel Shetty has invested in men’s grooming startup Beardo (in which Marico took a 45% stake last year), while his contemporary Madhuri Dixit has a stake in fitness tech startup GOQii.

Cricketer Yuvraj Singh set up YouWeCan Ventures and has invested in startups like Healthians, EduKart and Startup Buddy.

Anirban Das Blah, founder of celebrity management firm Kwan Entertainment, says celebs have realised the need to plan for the future and build a business that continues beyond their acting or sporting careers. Kwan has tied up with marketing firm Dream Theatre to start Mojostar, a company that promotes celebrity brand merchandising. The firm recently finalised deals with actors Jacqueline Fernandez and Tiger Shroff. “Today’s celebs are more careful with their investments. They look at this as a true business opportunity and put in the time and effort required to build the company,” says Blah.

Actor Hrithik Roshan, whose HRX line of clothing and accessories retails on Myntra, is one of the celebs who is deeply involved in the startups he is associated with. Roshan’s HRX has inked a deal with fitness startup Curefit, co-founded by former Flipkart executive Ankit Nagori and Myntra founder Mukesh Bansal, and has stake in the company.

Nagori says Roshan has been involved in every move the startup has made, and designed the HRX workout offered at the startup’s gyms. “We have co-created the format with Hrithik, who is a benchmark in fitness and health. With his backing, the format gets more credibility,” he explains. Roshan does a Facebook live session with gym-goers every month.

Tennis star Mahesh Bhupathi teamed up with Hemchandra Javeri, former Nike country head, to start sports apparel brand Zeven in 2016. Javeri says it was Bhupathi’s idea to create an affordable sportswear brand in India. “Mahesh is actively involved. Being a sportsperson, he understands what’s needed and gives feedback,” says Javeri. The co-founders have invested Rs 50 crore in the company.

Much of Zeven’s brand-building and deals came through Bhupathi’s network, Javeri says. Zeven is the kit partner for IPL team Royal Challengers Bangalore (RCB). Ravindra Jadeja and Rohan Bopanna are among the sportspersons endorsing the brand, which has sold products worth close to Rs 2 lakh. The company recently acquired rights for International Cricket Council (ICC) merchandise in 23 markets, including India.

Being associated with a celebrity can bring risks too, says Aviral Jain, director at consultancy Duff & Phelps India. “The product is correlated to fame. Negative publicity for the celeb can impact the brand, instances of which we have seen in the global market,” he says. When news of Tiger Woods’ infidelity got out, it reportedly led to a $12 billion loss in the market value of his sponsors in 10 trading days. In 2016, Snapdeal dropped actor Aamir Khan as brand ambassador following the actor’s comments on intolerance raising a storm.

Not every star’s success in the real world has translated into good business. Cricketer Robin Uthappa launched an early-stage venture capital firm Caffeine Ventures in 2015, and invested in iTiffin, a food-tech startup, which soon shut shop. A person connected with the venture who did not wish to be named said the fund has halted operations. “Uthappa was passionate about a few ideas but his fund didn’t have a great experience with investments,” the source says.

Tapan Kumar Das, founder of iTiffin who now runs a consulting firm, says having a celebrity investor helped but a big name doesn’t guarantee success. “When a celebrity is part of the ecosystem, the recall value of the brand is high. We were quite small so having him back us helped,” says Das, who shut iTiffin due to lack of funds.

Industry observers say celebs are yet to make large bets on startups. “They prefer a royalty-based model. Sometimes, there is ownership at the brand level but they refrain from investing capital. Their preferred route is low-risk with mid-sized rewards,” says Blah of Kwan Entertainment.

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