The increasingly rapid adoption of industrial robots on Chinese production lines is set to hasten the fall in manufacturing employment. Among companies that intend to purchase robots in the coming 12 months, 72.7% said this would mean job losses, according to a Financial Time. Source: CHina Economic Review
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China has threatened to attack Vietnamese bases over gas drilling in the disputed waters of the South China Sea, according to diplomatic sources in Hanoi and the Asian oil industry. Source The Sidney Morning Herald
The incident occurred on Sunday when the two Chinese J-10 warplanes intercepted a US Navy EP-3 reconnaissance plane in international air space west of the Korean Peninsula, Pentagon spokesman Navy Captain Jeff Davis said. Source South China Morning Post
Foreign assets of the Saudi Arabian Monetary Agency (SAMA) and the commercial Saudi banks reached SR1.996 trillion by the end of May, business daily Al-Eqtisadiah reported on Monday quoting the agency’s official figures. According to the figures, SAMA’s net foreign assets were SR1.844 trillion against foreign demands of SR18.462 billion. Source: Al Arabiya