John Chu
John Chu Ka-yan still remembers the dumbstruck expressions on the faces of the bank managers he asked to finance his computer-animation enterprise. It was 1987 and, although Hong Kong's economy was soaring, he had trouble borrowing the millions he needed for computer hardware to expand Centro, which he started in 1985 as a post-production house for commercials.
'You could buy a gorgeous flat with about HK$1 million in those days,' he says. 'But what was I buying? Just a computer. Banks didn't understand anything about technology. In those days, a computer geared for making animation, including the software, cost HK$2 million. And I wasn't buying just one.'
Today, Chu (above) presides over one of Hong Kong's most established computer-animation companies, with a team of 150. Having contributed to some of the most sophisticated computer-assisted films in recent years - he co-produced The Stormriders and oversaw the special effects for Kung Fu Hustle - Chu has moved onto bigger things with The Magic Gourd.
Trump team demands ‘entry fee’ before Canada talks, Carney says US doesn’t dictate terms
Washington is reportedly seeking concessions before agreeing to open negotiations on revising the US trade pact with Canada and Mexico
The US does not get to dictate the terms of coming trade talks, Canadian Prime Minister Mark Carney said on Wednesday, following reports Washington wants an “entry fee” before agreeing to open negotiations.
The United States and Canada are set to hold talks on revising a North American free trade agreement, a pact US President Donald Trump signed and praised during his first term but now dismisses as “irrelevant”.
Quoting multiple Canadian sources, Canada’s public broadcaster CBC reported on Wednesday that Trump’s team wants an “entry fee”, or concessions, from Canada before starting talks on revising the United States-Mexico-Canada Agreement (USMCA).
Prominent Canadian politician and former Quebec premier Jean Charest, now a member of Carney’s advisory council on US trade, told French public broadcaster Radio-Canada that Trump is demanding “concessions before we sit down at the table”.
Asked about those reports in Ottawa, and whether Canada will give concessions to persuade the US to talk, Carney said “no”.
“It’s not a case of the United States dictates the terms,” he said.
“It’s not a case of [one country] demanding and the other begging,” he added in French. “It’s a negotiation.”
The prime minister said Canada recognised the United States has “trade irritants” it wants addressed.
“We have some on our side as well,” he told reporters, saying “the time will come to really roll up our sleeves”.
The offices of US Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer did not immediately reply to requests for comment on the CBC’s report.
But Greer told Congress on Wednesday the Trump administration is not going to “rubber stamp” a renewal of the USMCA. Greer has repeatedly said parts of the agreement need to substantially change.
Canada is “doubling down on globalisation when we’re trying to correct for the problems of globalisation. So those are two models that don’t fit together very well,” Greer testified.
Since taking office just over one year ago, Carney has maintained a defiant tone in response to Trump’s threats, insisting Canada will not buckle when faced with unreasonable trade demands.
He has also said Canada needs to dramatically reduce its economic and security reliance on the US.
WATCH: Chinese President Xi Jinping meets with Canadian PM Mark Carney
In an address to the nation on Sunday, he said: “Many of our former strengths based on our close ties to America have become our weaknesses, weaknesses that we must correct.”
Trump has imposed punishing tariffs on key Canadian sectors but has so far adhered to most of the USMCA, meaning more than 85 per cent of US-Canada trade has remained tariff-free.
Trump’s car and steel tariffs have hit particularly hard in Canada’s largest province, Ontario, where Premier Doug Ford has retaliated by blocking the sale of all US liquor and wine.
Lutnick called that ban “outrageous” in congressional testimony on Wednesday.
But Ford has said he will not waver until all US tariffs are removed.
“I don’t trust President Trump,” Ford said on Wednesday.
Saudi leader’s phone call to Xi Jinping shows shifting global power balance
For long-time US ally Riyadh to seek out China suggests a growing lack of conviction among countries that the US alone can shape the global order
Nowadays, it is not uncommon for countries to be economically dependent on China but dependent on the United States for security. Saudi Arabia is an exception in that it relies more on the US than anyone else for both its economy and security. As a leading regional power, it has basically been key to US influence in the Middle East.
Even before the Saudi leader’s call to Xi there have been signs the relationship with the US is being tested. They suggest that Riyadh may be frustrated with US policy in the Middle East and particularly over the war with Iran. When the US cannot bring a swift solution to the current conflict, Saudi Arabia, along with many other countries, bears the direct consequences.
The Strait of Hormuz is a global energy chokepoint, with a fifth of the world’s oil and gas supply passing through. Any disruption has immediate consequences for global markets and regional stability.
It was against this background that a traditional US ally called Xi and discussed the blockade and the Iran situation. That is rare, given the Middle East is traditionally considered a US sphere of influence. It shows that countries around the world, including US allies, are no longer convinced the US alone can shape the global order. They are turning to China because, among other reasons, it demonstrates strategic clarity and stability.
China’s potential role in helping resolve conflict and maintaining peace in the Middle East is not merely about energy security. It is about broad strategic influence.
Gulf states, including Saudi Arabia, increasingly see value in China’s presence – not because Beijing is aggressively pushing, but because regional actors believe it can help deliver stability at a time of uncertainty.
For China, this is a chance to expand its diplomatic footprint. For the US, it is a reminder that its traditional dominance in the Middle East can no longer be taken for granted. The symbolism of the Saudi leader’s phone call to Xi highlights a shifting balance of power. As the region grapples with instability, China’s rising profile will be watched closely – not only in Riyadh and Tehran, but across the world.
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