Good Morning. Welcome to The Wire’s daily news roundup. Each day, our staff gathers the top China business, finance, and economics headlines from a selection of the world’s leading news organizations.
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The Wall Street Journal
- China and Russia Sent Bombers Near Japan as Biden Visited Tokyo — Moscow and Beijing have been stepping up joint military drills in recent years.
- China’s Covid-19 Lockdowns Hurt Sales of Starbucks Coffee, Adidas Sneakers — Global companies that bet big on China’s consumers are among those seeing a drag on global revenue as spending falls.
- ‘Daughter of Hong Kong’ Makes Last Stand on Tiananmen Massacre—From a Court Dock — Courtrooms are the main venue left for Hong Kong lawyer Chow Hang-tung to keep alive memories of the events of 1989, as the city erases statues and other memorials
- Opinion: Tariffs on China Throw Shade on the U.S. Solar Industry — Intended to punish Chinese panel makers, the import taxes are crushing U.S. companies and consumers. By T.J. Rodgers
The Financial Times
- Beijing clamps down on elite students after lockdown protests — China seals campuses and encourages students to go home following demonstrations last month.
- How hubris and Covid transformed Sri Lanka from ‘donor darling’ to default — The country has opened talks with the IMF over a $4bn bailout with observers waiting to see how China, one of the main creditors, will react.
- Chanel sounds upbeat note despite China lockdowns — French luxury house says demand remains resilient in markets such as the US.
The New York Times
- U.S. Speeds Up Reshaping of Taiwan’s Defenses to Deter China — The Biden administration has accelerated its efforts to reshape Taiwan’s defense systems as it projects a more robust American military presence in the region to try to deter a potential attack by the Chinese military.
- China is organizing military drills near Taiwan in warning to the U.S. — The People’s Liberation Army of China on Wednesday described organizing combat drills in the waters and airspace around Taiwan to send a blunt message to the United States over its “collusion” with Taiwan.
- China pushes for regular mass testing in ‘zero-Covid’ pursuit. — The strategy risks increasing economic stress and trying people’s patience.
- An American Comeback on Amazon — Chinese merchants have been huge on Amazon. But now we’re seeing the trend reverse.
Caixin
- In Depth: How China Took Another Step Forward on Genetically Modified Farming — China’s plans to permit the commercialization of genetically modified (GM) crops have this year finally taken a step forward.
- Beijing Health Chief Sacked — Yu Luming, head of the Beijing Municipal Health Commission, has been removed from his position one month after being placed under investigation by the Communist Party’s corruption watchdog.
- Scandal-Dogged Luckin Coffee Turns First Ever Operating Profit — Luckin earned 19.8 million yuan ($3 million) in net profit in the period, reversing a loss of 232.5 million yuan a year earlier.
South China Morning Post
- China military must be able to destroy Elon Musk’s Starlink satellites if they threaten national security: scientists — Researchers call for development of anti-satellite capabilities including ability to track, monitor and disable each craft.
- Germany, Britain and US press China over new ‘shocking’ Xinjiang human rights abuse reports — State Department spokesman says US will work with allies to seek accountability after release of thousands of photos and documents from official Chinese databases.
Nikkei Asia
- Apple’s iPhone development schedule hit by China lockdowns — Silicon Valley giant caught off guard by sudden imposition of anti-COVID measures.
- State-backed battery maker gives competitive jolt to China’s CATL — CALB racks up orders from EV producers seeking alternative supply source.
Bloomberg
- China’s Gen Z Has the Power to Make or Break Western Brands — Young, nationalistic shoppers are derailing big bets on China.
- China Truck Data Showing Lockdown’s Hit Disappears From Public — Data had been widely used by investment banks and universities.
- Biden ‘Appalled’ by New Images of Xinjiang Camps, Calls UN Chief’s Visit a Mistake — Thousands of newly released images ‘appal’ State Department.
Reuters
- ‘Significant issues remain’ in reaching deal over U.S.-listed Chinese company audits -SEC official — The SEC’s international affairs chief, YJ Fischer, told an audience that the agency’s accounting body, the U.S. Public Company Accounting Oversight Board (PCAOB), would need to complete China audit inspections by Nov. 22.
- Germany changing its China policy with higher priority for human rights, says minister — Germany is diversifying more, reducing its dependency on China, and will closely examine applications from German companies wanting to make investments in China to rule out human rights violations and forced labour in the supply chain.
- China seeks Pacific islands policing, security cooperation – document — China will seek a region-wide deal with almost a dozen Pacific island countries covering policing, security and data communication cooperation when Foreign Minister Wang Yi hosts a meeting in Fiji next week, documents seen by Reuters show.
The Economist
- The Chinese-African relationship is important to both sides, but also unbalanced — If the West wants to counter China’s role in Africa it first must understand it.
- Chinese loans and investment in infrastructure have been huge — An era of big loans and big projects is coming to an end. How did it change Africa?
- How Chinese firms have changed Africa — Chinese companies have made their mark on the African continent, in ways good and bad.
- The price of friendship — China has much to offer African governments, but it also wants much in return.
- China, meet Fourth Estate — China is working hard to shape public opinion in Africa, but its more lasting impact could be on the infrastructure of media itself.
- Ace of bases — China is on a path to becoming a global military power; that path goes through Africa.
- Countering China in Africa — The West must try harder to offer African countries alternatives to China.
Other Publications
- BBC: The faces from China’s Uyghur detention camps — Thousands of photographs from the heart of China’s highly secretive system of mass incarceration in Xinjiang, as well as a shoot-to-kill policy for those who try to escape, are among a huge cache of data hacked from police computer servers in the region.
- BBC: Xinjiang Police Files: Inside a Chinese internment camp — Taking information from the leaked documents, the BBC has reconstructed one of the camps – the Shufu County New Vocational Skills Education and Training Centre – to reveal the methods used inside.
- ICIJ: The faces of China’s detention camps in Xinjiang — Among the files, too, are internal police presentations, some for training purposes, on how to search and arrest suspects, and how to use handcuffs and other equipment.
- ChinaFile: Public Security Minister’s Speech Describes Xi Jinping’s Direction of Mass Detentions in Xinjiang — Scholar Adrian Zenz’s Newly Released ‘Xinjiang Police Files’ Affirm Scale of Campaign and Beijing’s Role in Shaping It.
- Protocol: A surveillance AI firm with hidden ties to China is seeking US infrastructure contracts — Remark Holdings, whose AI-based surveillance technologies have deep but mostly hidden ties to China, already has a partnership with a Florida high-speed rail provider. Now, the company wants to pursue additional U.S. infrastructure projects.
