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 Financial Times
- China after the property boom: can it rebuild the growth model? — Xi Jinping can revive the economy by encouraging more consumer spending, but would lose some political control.
- Opinion: Xi Jinping’s third term is a tragic error — China’s macroeconomic, microeconomic and environmental difficulties remain largely unaddressed. By Martin Wolf
The New York Times
- U.S. Aims to Turn Taiwan Into Giant Weapons Depot — Officials say Taiwan needs to become a “porcupine” with enough weapons to hold out if the Chinese military blockades and invades it, even if Washington decides to send troops.
Caixin
- State Construction Firm to Buy 50% of East African Potash Mine — Sichuan Road and Bridge Group moves further into mining with a $166 million deal to acquire the Colluli Potash Project from Australia’s Danakali.
South China Morning Post
- South Korean weapon exports seen surpassing China’s as Seoul inks defence deals with more regions — Eyeing a place among the world’s top defence-exporting nations, South Korea has been stepping up deals to supply advanced weapons such as jets and missile systems to the Middle East, Europe and elsewhere.
- China’s semiconductor self-sufficiency drive needs to strengthen development of talent and skills, education agency executive says — Executive says there is still a gap in integrated circuits expertise between China and overseas, ‘especially in manufacturing’.
- New US report outlines ‘devastating effect’ of national security law on Hong Kong — The study by the Congressional-Executive Commission on China says the city’s ‘once-dynamic civil society’ has been ‘dismantled’ over the last two years.
Nikkei Asia
- Key Chinese Belt and Road builder faces rising risks, debt — China’s property downturn, global economy cast shadow over CCCG’s growth.
- Taiwan vows to safeguard interests amid U.S.-led ‘Chip 4’ talks — Senior Taiwanese official says full decoupling from China is difficult.
Bloomberg
- Taiwan Pledges to Keep Advanced Chips From Chinese Military — Taiwan pledged to work closely with the US and other allies to prevent China’s military from acquiring state-of-the-art technology, as Washington steps up efforts to contain the world’s No. 2 economy.
- Rich Chinese are Biggest Singapore Luxury Condo Buyers — Mainland Chinese buyers have scooped up the biggest number of Singapore’s private apartments this year compared with other foreigners, underscoring the amount of wealth flowing into the city-state from the world’s second biggest economy.
Other Publications
- The Economist: How academies for cadres shape China’s ruling class — Bold, innovative thinking was once encouraged. No more.
- The Washington Post: Xi Jinping’s quest for total control of China is just getting started — At a crucial party congress beginning Oct. 16, Xi is set to complete his elevation to uncontested paramount leader.
- Foreign Affairs: How China Trapped Itself — The CCP’s Economic Model Has Left It With Only Bad Choices. By Michael Pettis
- CSIS: Eyes on the Skies — China’s Growing Space Footprint in South America.
