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
- New U.S. Base on Guam Is Aimed at Deterring China — Camp Blaz is expected eventually to house 5,000 Marines and be a hub for training in the Western Pacific.
- Lawmakers Seek Scrutiny of Farmland Purchases by Chinese, Other Foreign Buyers — Bipartisan legislation would put the agriculture secretary on a panel reviewing foreign acquisitions.
- LVMH Looks to Renewed China Luxury Spending for Earnings Bump — Bernard Arnault’s conglomerate has soared in valuation, but the industry faces headwinds from lower global growth.
- Chinese Consumers Embrace Life Free From Zero-Covid Controls — Midway through first Lunar New Year break without pandemic restrictions, hotel bookings, box office sales signal spending revival.
The Financial Times
- ASML chief calls for ‘sensible’ chip export controls from Dutch government — Semiconductor manufacturer fears impact of escalating US-China tech war.
- Taiwan’s Tsai Ing-wen names new premier to shore up support — Former vice-president Chen Chien-jen credited with successful early response to Covid.
- Opinion: Reasons for scepticism over Swedish rare earths find — There are many questions over the project’s prospects and its potential to spur the green transition in Europe.
- Opinion: The end of Chinese lockdowns and the reopening of trade — Risks of disruption to ports and shipping are outweighed by a boost to global demand.
The New York Times
- TikTok’s New Defense in Washington: Going on the Offense — Keeping its head down has not paid off for the company, which now faces regulatory pressure on many fronts. So it is starting to speak out.
Caixin
- China Solar Silicon Producers Forecast Soaring 2022 Profits — Tongwei and Xinjiang Daqo New Energy predict a more than threefold jump in earnings as strong demand for panels fuels higher prices.
- Bolivia Picks CATL-led Consortium to Develop Untapped Lithium Deposits — State-owned Bolivian Lithium Deposits has signed agreements with the consortium, CBC, to jointly exploit, refine, process and market lithium resources.
South China Morning Post
- Tesla shelves plan to build second assembly line at Shanghai Gigafactory amid weak demand for premium electric vehicles in China — Tesla does not expect a near-term volume increase at its Shanghai Gigafactory, which the US electric carmaker says ‘has been successfully running near full capacity for several months’.
- China accuses US consul of ‘maliciously abusing Hong Kong’s national security law’ with comments on lawyer ruling — Companies should be aware that the risks they face in mainland China are now increasingly present in Hong Kong, says American consul general.
Nikkei Asia
- China’s mining ambitions in Afghanistan haunted by militants — ISIS-K steps up threats and attacks as Beijing eyes oil and copper.
- Analysis: Xi puts top brain in charge of Taiwan unification strategy — Wang Huning tasked with creating alternative to ‘one country, two systems’.
Bloomberg
- The US Hasn’t Noticed That China-Made Cars Are Taking Over the World — The country is poised to become the No. 2 exporter of passenger vehicles, surpassing the US and South Korea and risking new tensions with trading partners and rivals.
- China-Australia Ties Proceeding in ‘Right Direction,’ Xi Says — Chinese President Xi Jinping said relations between Australia and China are proceeding in “the right direction,” ahead of a meeting of top trade officials from the two countries expected to take place within months.
- Rich Chinese Plan to Leave With Money With Covid Zero’s End — President Xi Jinping’s decision to dismantle Covid travel restrictions is accelerating an exodus by wealthy Chinese, who could fuel billions in capital outflows as they plow cash into property and assets abroad.
Reuters
- Dutch officials headed to Washington to talk controls on chipmaking gear – sources — A deal could be announced as soon as Friday if the two sides can agree on the details, said one of the sources, speaking on condition of anonymity.
- Taiwan appoints new, British-educated intelligence chief — Tsai’s office said that deputy foreign minister Tsai Ming-yen, who has previously served as Taiwan’s de facto ambassador to the European Union, had been appointed as the new head of the National Security Bureau.
Other Publications
- BBC: Ji Chaoqun: Chinese engineer jailed for eight years for spying in US — A Chinese engineer has been jailed for eight years for spying in the US, in a case linked to Chinese efforts to steal aviation trade secrets.
- Politico: Biden grants Hong Kongers in the U.S. a 2-year deportation reprieve — White House says the people of Hong Kong face “increasing repression” by China.
- The Economist: China is trying to win over Westerners and private firms — But Xi Jinping is unlikely to change.
- Foreign Affairs: America’s China Policy Is Not Working — The Dangers of a Broad Decoupling. By Henry M. Paulson, Jr.
- The Intercept: Apple Brings Mainland Chinese Web Censorship to Hong Kong — Apple quietly expanded the use of Chinese company Tencent’s website blacklist to users in Hong Kong — and no one will answer questions about it.
- American Enterprise Institute: 2023: “Zero COVID” Ends, and Chinese Investment Returns — Commodities are an obvious target, but Chinese priorities in 2023 could also be politically determined. Firms will return to countries where they’re wanted and that Beijing sees as most important.
