16th BRICS Summit Marks New Era of “Big BRICS Cooperation” Following Historic Expansion

From October 22 to 24, the 16th BRICS Summit was held in Kazan, Russia, marking the first summit since the historic expansion of BRICS membership from five to ten nations. Leaders and delegations from over 30 countries attended the event, hosted at the Kazan Expo International Exhibition Centre. This year, Saudi Arabia, Egypt, the UAE, Iran, and Ethiopia officially joined the BRICS partnership, ushering in a new era of “Big BRICS Cooperation”.

The summit was chaired by Russian President Vladimir Putin, with key figures such as Chinese President Xi Jinping, Brazilian President Luiz Inácio Lula da Silva (online), Egyptian President Abdel Fattah El-Sisi, Ethiopian Prime Minister Abiy Ahmed, Indian Prime Minister Narendra Modi, Iranian President Masoud Pezeshkian, South African President Cyril Ramaphosa, and UAE President Sheikh Mohamed bin Zayed Al Nahyan in attendance.

Leaders praised the BRICS mechanism’s development and its role in tackling global challenges, noting the coalition’s large population, abundant resources, and significant global influence. BRICS countries pledged to strengthen solidarity, deepen strategic partnerships, and boost cooperation in politics, security, trade, finance, and cultural exchanges. BRICS will continue to focus on promoting an equal multipolar world, inclusive globalization, and sustainable development. Leaders reiterated the importance of amplifying the Global South’s representation in international affairs to foster a fair and just international order.

Data Source: https://www.fmprc.gov.cn/zyxw/202410/t20241023_11514872.shtml

China’s National Bureau of Statistics released unemployment rate data by age group for September

In September, China’s national urban unemployment rate for the 16-24 age group (excluding students) reached 17.6%, 6.7% for 25-29-year-olds, and 3.9% for 30-59-year-olds, reflecting a pressing issue for China’s labor market. The high youth unemployment rate has not only raised concerns among young people but also prompted broader reflection on the future employment landscape in China.

This year, a record 11.79 million college graduates have entered an already competitive job market, which, in the context of slowing economic growth, has seen a reduced demand for new hires. This supply-demand imbalance has significantly impacted youth employment rates.

Despite a relatively low overall unemployment rate, many in this demographic face skill obsolescence due to industry restructuring and technological advancements. In response to this evolving job market, more middle-aged workers are choosing flexible employment options to adapt to new economic realities.

Data Source: https://english.www.gov.cn/archive/statistics/202410/22/content_WS671750b0c6d0868f4e8ec2ad.html

Simulated Lunar Soil Bricks to Be Tested on China’s Space Station for Future Moon Habitat Construction

On October 24th, it was announced that Bricks made from simulated lunar soil, a potential building material for future lunar habitats, will be sent to China’s space station aboard the Tianzhou 8 cargo spacecraft for exposure experiments, with the first lunar brick expected to return to Earth by the end of 2025. The bricks, developed to simulate the density and strength needed for lunar construction, demonstrate over three times the compressive strength of standard red bricks and concrete, capable of supporting over one ton per square centimeter, according to Zhou Cheng, a professor at the National Center of Technology Innovation for Digital Construction.

Zhou highlighted three key characteritics that will be verified in space: the bricks’ potential degradation in mechanical strength, their heat insulation and preservation capabilities, and their resistance to cosmic radiation on the moon. Notably, these bricks are formed without any additional additives, presenting a promising construction method for future lunar bases.

The manufacturing process requires researchers to carefully weigh and press the loose simulated lunar soil into molds, followed by heating and sintering in a vacuum hot-pressing furnace. These bricks will undergo rigorous space exposure tests to gather critical data and optimize designs for future lunar habitats.

Robotic Dogs Deployed for Waste Collection on Mount Tai

On October 19, a unique scene at Mount Tai captured the attention of tourists: a robotic dog being carried up the mountain. This robotic “porter,” currently in a test phase, is designed to transport heavy loads, including waste, in the Taishan Mountain scenic area in Tai’an, Shandong province.

Due to the challenging terrain and the absence of accessible roads, large-scale mechanized operations are impractical on Mount Tai, traditionally requiring manual garbage collection. During peak hours, trash is often stored along hiking trails until it can be retrieved, a long-standing logistical challenge for the park.

The robotic dogs, among the most advanced industrial-grade quadruped robots available, are introduced to improve transport efficiency and reduce manual labor needs. These robots are equipped with high load-bearing capacities, excellent endurance, and robust obstacle-crossing abilities, providing stability and balance essential for navigating Mount Tai’s complex landscape. The test run aims to evaluate the potential for broader use in similar scenic and environmentally sensitive areas.

Is that really practical? Time will tell.

Porsche Cuts Prices in Shenzhen Amid Declining Sales in China

On October 25, a Porsche dealership in Shenzhen listed the 2024 Macan 2.0T model, originally priced at CNY 578,000, for CNY 358,000 (excluding taxes, fees, and insurance), marking a 38.1% discount. Similarly, substantial discounts were offered on other models, including the Taycan and Panamera. The Porsche Taycan, with an MSRP ranging from CNY 898,000 to 1.998 million, was listed by Shenzhen dealers for as low as CNY 588,200, while the 2024 Taycan 4 Cross Turismo, with an MSRP of CNY 1.008 million, was available for CNY 745,000.

On October 11, Porsche reported a 7% year-on-year decline in global sales for the first three quarters of 2024, totaling 226,026 units. Sales in China, Porsche’s largest single market, fell by 29% to 43,280 units, contrasting with North America, where sales dropped by 5% to 61,471 units, and Europe (excluding Germany), which saw a 1% increase to 52,400 units.

To strengthen its position in the increasingly competitive Chinese market, Porsche appointed Alexander Pollich as the new head of Porsche China in September, overseeing operations across mainland China, Hong Kong, and Macau. Additionally, Porsche’s R&D team in China is expanding, focusing on enhancing smart cockpit and ADAS (Advanced Driver Assistance Systems) capabilities to bolster Porsche’s competitiveness in China.