China’s embassy in Madagascar yesterday expressed shock at a deadly riot involving local workers at a Chinese-run sugar plant and criticized the island nation’s government for failing to protect Chinese interests.
The statement came three days after local workers clashed with local security forces, leaving two people dead, before they allegedly looted the sugar plant in Morondava.
The embassy said that Chinese workers evacuated the factory because of fears for their safety.
“We hope the Madagascar government will take necessary measures to properly handle the attack at the Morondava sugar plant and to erase the ill impact this incident has brought to the country’s international image and its ability to attract foreign investments to create a good environment for Madagascar to cooperate with China and other countries,” the statement said.
Madagascan Prime Minister Roger Kolo and Minister of Economy and Industry Jules Etienne Rolland have pledged to try to resolve the situation.
The labor protest started when the plant’s seasonal workers demanded contracts that offer better pay and better conditions, according to reports.
The Chinese embassy said the requests were unreasonable and that the workers began to block the factory early last month, cutting off utilities, harassing other employees and sabotaging equipment.
The confrontation escalated after Madagascan security forces arrested two strike leaders.
On Wednesday, about 500 workers rushed to a base of the security forces to demand the release of their colleagues and police fired tear gas and live ammunition, the Madagascar Tribune reported. Two people died. Police said they were acting in self-defense because some workers had guns and machetes.
Beijing’s official China News Service said the workers were armed with axes, slingshots and rocks.
Rioters then converged on the factory, looted its sugar supply and set fire to a building. Some carried bags of sugar on their backs or in carts and wheelbarrows and some of it was quickly sold on the illegal market, reports said.
China is Africa’s largest trading partner, but closer ties have resulted in sometimes violent labor disputes.
SECOND-RATE: Models distilled from US products do not perform the same as the original and undo measures that ensure the systems are neutral, the US’ cable said The US Department of State has ordered a global push to bring attention to what it said are widespread efforts by Chinese companies, including artificial intelligence (AI) start-up DeepSeek (深度求索), to steal intellectual property from US AI labs, according to a diplomatic cable. The cable, dated Friday and sent to diplomatic and consular posts around the world, instructs diplomatic staff to speak to their foreign counterparts about “concerns over adversaries’ extraction and distillation of US AI models.” Distillation is the process of training smaller AI models using output from larger, more expensive ones to lower the costs of training a powerful new
Shares of Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) have repeatedly hit new highs, but an equity analyst said the stock’s valuation remains within a reasonable range and any pullback would likely be technical. The contract chipmaker’s historical price-to-earnings (P/E) ratio has ranged between 20 and 30, Cathay Futures Consultant Co (國泰證期) analyst Tsai Ming-han (蔡明翰) told Central News Agency. With market consensus projecting that TSMC would post earnings per share of about NT$100 (US$3.17) this year, supported by strong global demand for artificial intelligence (AI) applications, and the stock currently trading at a P/E ratio of below 25, Tsai said the valuation
The artificial intelligence (AI) boom has triggered a seismic reshuffling of global equity markets, with Taiwan and South Korea muscling past European nations one by one. With its stock market now valued at nearly US$4.3 trillion, Taiwan surpassed the UK, Europe’s biggest market, earlier this month, data compiled by Bloomberg showed. South Korea is about US$140 billion away from doing the same. The tech-heavy Asian markets have shot past Germany and France in the past seven months. The shift is largely down to massive gains in shares of three companies that provide essential hardware for AI: Taiwan Semiconductor Manufacturing Co (TSMC, 台積電),
The US Department of Commerce last week ordered multiple chip equipment companies to halt shipments of certain tools to China’s second-largest chipmaker, Hua Hong Semiconductor Ltd (華虹半導體), its latest action to slow the country’s development of advanced chips, two people familiar with the matter said. The department sent letters to at least a handful of companies informing them of restrictions on tools and other materials destined for two Hua Hong facilities US officials believe make China’s most sophisticated chips, the people said. Top US chip equipment companies Lam Research Corp, Applied Materials Inc and KLA Corp, each of which has significant