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
- Determined to Flee China, Thousands Take a Long, Dangerous Route to the Southern U.S. Border — In search of economic opportunity or political freedom, Chinese contend with smugglers, bandits and treacherous jungle on trek through Latin America
- The Green Energy Factory Facing a Storm of China Backlash — Clean-energy projects involving Chinese companies are grappling with fallout from troubled U.S.-Sino relations
- China’s Xi Jinping Seeks to Shake Trans-Atlantic Solidarity With Flurry of Diplomacy — The leader pushes back against what he calls U.S. suppression
- U.S., Allies Weigh How to Reduce Economic Ties With China — Countries seek to lessen dependence on China but maintain global trade, investment
- Antony Blinken Tries to Draw Vietnam Closer, With an Eye on China — Southeast Asian country has strong economic relations with Beijing, counts Russia as key weapons supplier
- Chinese Rocket Debris Showers Intrigue on a Remote Fishing Village — Andryan Pelayo was among those who spotted something shiny bobbing in the water and at first thought, ‘This was worth some money’
- Opinion: Foreign Companies Should Have to Play by the Same Rules — Our new bill would require Chinese and Russian executives to disclose their trades to investors immediately, preventing insider trading. By John Kennedy and Chris Van Hollen
The Financial Times
- Chinese property prices rise ahead of first-quarter GDP release — New home values climb at fastest pace in 21 months but uneven consumer recovery clouds outlook.
- Chinese company moves some production abroad to escape geopolitics — US clients had told the water-heater maker Vanward to shift elsewhere to continue co-operation.
- China hit by surge in Belt and Road bad loans — Global finance scheme becomes millstone for Beijing as $78bn renegotiated or written off in past 3 years.
- Rumours of China’s economic demise may be greatly exaggerated — From ‘miracle to malady’ — but how bad is it really?
- BT holds China-Taiwan war game to stress test supply chains — Telecoms group’s exercise is a sign of growing corporate unease over escalating tension in the region.
- Lula vows partnership with China to ‘balance world geopolitics’ — Brazil’s president uses three-day visit to strengthen ties with Beijing and chart path towards more multipolar global order.
- China stalls Blinken’s Beijing visit over ‘spy balloon’ concerns — Efforts to reschedule cancelled trip by US secretary of state run into friction over FBI investigation.
- The west is in the grip of a decoupling delusion — Trying to move production from China is much harder than many companies and governments think. By James Crabtree
The New York Times
- Why China’s Leader Hasn’t Called the President of Ukraine — China had been Ukraine’s top trade partner, importing barley, corn and arms. Now, Russia’s war raises the question: Is there still a relationship?
- Brazil’s Lula Meets Xi in China as They Seek Path to Peace in Ukraine — Brazil has been reluctant about choosing sides in the war, as its new president, Luiz Inácio Lula da Silva, seeks to rebuild the country’s ties with Beijing.
- Montana Legislature Approves Outright Ban of TikTok — The bill, which would make the state the first to ban the social media app, now goes to the desk of Gov. Greg Gianforte.
- Pressure Mounts on China to Offer Debt Relief to Poor Countries Facing Default — There was optimism at the spring meetings of the I.M.F. and World Bank that China will make concessions over restructuring its loans.
Caixin
- Cover Story: China Emerges as Powerbroker on Global Diplomatic Stage — These visits, along with Chinese President Xi Jinping’s recent trip to Moscow and the Saudi-Iran peace deal negotiated by China have advanced the country’s goal for playing a greater role as global powerbroker.
- China’s NEV Sales Are Both Surging and Sinking, Depending on the Company — Major Chinese manufacturers’ new-energy vehicle (NEV) sales were all over the map in March, with companies that recently released budget-friendly cars outperforming their rivals amid a raging price war across the industry.
South China Morning Post
- District councils to be purely advisory bodies formed by patriots, Beijing’s top official overseeing Hong Kong quoted as saying — Xia Baolong, director of Hong Kong and Macau Affairs Office, lays down explicit criteria for this year’s poll for municipal bodies that were once bastion of opposition.
- Opposing views doesn’t equal ‘quality democracy’, Beijing’s point man on Hong Kong affairs tells legislators during ‘historic’ Legco chamber visit — Xia Baolong’s speech at Legislative Council chamber marks first time central government official has made appearance there.
- International schools in Hong Kong lose 12 per cent of non-local students in 4 years — But Secretary for Education Christine Choi says enrolment numbers are affected by host of factors.
Nikkei Asia
- Belt and Roadblocks: More of China’s borrowers fall into distress — Indonesia worries about whether it might fall into Sri Lanka-like debt trap.
- Volkswagen to make EV batteries with Vale, Ford, Huayou in Indonesia — Investment minister says partnership would consist of JVs or raw materials supply.
Bloomberg
- Australia Says No Single Power Should Dominate Indo-Pacific — Indo-Pacific nations oppose having their future “dictated by a single major power,” Australian Foreign Minister Penny Wong said, as the region faces an intensifying struggle for influence between the US and China.
- China Tensions High on Agenda as G-7 Diplomats Meet in Japan — Tensions over China will be high on the agenda as top diplomats from Group of Seven nations meet over the next two days in Japan, according to a senior State Department official.
- China Rolls Out Electromagnetic Weapon to Quell Violent Protests — China demonstrated an electromagnetic gun that fires projectiles shaped like coins, a weapon state media said could be used to break up violent public disturbances.
Reuters
- Australian man who wrote reports for suspected Chinese spies refused bail in Sydney — An Australian man has been refused bail after being charged with a foreign interference offence for accepting cash from suspected Chinese intelligence agents.
- China condemns US sanctions on those allegedly involved in fentanyl trade — “China, in the spirit of humanitarianism, has been trying to help the U.S. as best it can,” spokesperson Wang Wenbin told a regular news briefing.
- Angry Tesla Shanghai workers vent to Elon Musk over bonus cuts — Tesla’s Shanghai factory workers took to social media to appeal to Elon Musk and the Chinese public after being told at the weekend about cuts to their performance bonuses.
Other Publications
- The Guardian: How one man went from China’s Communist party golden child to enemy of the state — Experts say Xu Zhiyong’s fate symbolises the rise and fall of China’s ill-fated rights movement.
- AFP/Hong Kong Free Press: In Pictures: Hong Kong gov’t seeks to make national security fun — On stage at the carnival, an announcer asked “Is Hong Kong free?” Children in the audience screamed their response: “Yes!”
- CSIS: Japan and the Netherlands Announce Plans for New Export Controls on Semiconductor Equipment — This commentary serves as an update to a CSIS report, “Clues to the U.S.-Dutch-Japanese Semiconductor Export Controls Deal Are Hiding in Plain Sight,” which outlines details of the U.S.-Japan-Netherlands arrangement following the United States’ October 7 export controls.
