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
- Despite Yellen, U.S.-China Decoupling Has Momentum of Its Own — U.S. and Chinese officials have a small window to stabilize economic ties before the political calendar in both the U.S. and Asia starts driving events.
- Is China Mired in a ‘Balance Sheet Recession’? — Warning signs are adding up that China might face a slow, post-2008 style U.S. recovery—absent a much bigger fiscal push.
- Why China’s Woes Are Boosting Other Markets — Japan, India and other markets are booming as Chinese stocks falter.
- China’s Reopening Trade Is Fizzling Out — Many U.S. stocks with China exposure have outperformed this year, but recent economic weakness raises stakes.
- In China, the Era of Western Carmakers Is Over — Foreign brands lose share to Chinese rivals, driven by local manufacturers’ lead in electric vehicles, as Beijing’s industrial policy pays off.
The Financial Times
- Taiwan plans massive safety drill to practise for possible China attack — Exercise to take place in districts that are home to 3mn people as Taipei strengthens civil defence preparations.
- Higher investment in critical minerals boosts chances of meeting climate targets — Supply of resources could hit demand from clean energy transition but China dominates spending, says IEA.
- Hong Kong’s crypto grey zones lure Chinese visitors — The city has tightened online regulation but physical stores have less oversight.
- China to lay down AI rules with emphasis on content control — Moves towards licensing system reflects Beijing’s struggle to encourage technology while censoring information.
- Opinion: The international human rights framework desperately needs an upgrade — Countries in the global south are making dangerous alliances with illiberal autocracies. By Christopher Sabatini.
The New York Times
- Scientists Have Found a Hot Spot on the Moon’s Far Side — Data from two Chinese orbiters helped a team of scientists explain why a patch of lunar terrain is so much warmer than the surrounding area.
- Opinion: NATO Isn’t What It Says It Is — From its origins, the alliance was never primarily concerned with military power. By Grey Anderson and Thomas Meaney.
Caixin
- China Begins Campaign Against Illegal Reproductive Services — The six-month effort will target surrogacy, the illegal sale of sperm and eggs, and other illicit activities involving technology that helps people have children.
- China Strengthens Rules for ‘Self Media,’ With Onus on Platforms to Vet Content — Websites must ensure that non-government, independent content providers clearly identify their sources when posting on current affairs.
- China’s New Office for Hong Kong and Macao Affairs Has Its First Head — Xia Baolong chaired a meeting on Tuesday of the recently created body overseeing the two special administrative regions, according to a government statement.
South China Morning Post
- Xi Jinping, meeting Russian parliament leader, vows further Beijing-Moscow cooperation — Remarks come during Monday session in Beijing with Valentina Matviyenko, chairwoman of the Federation Council, Russia’s upper legislative chamber.
- China builds on 60-year record to strengthen medical ties with Africa — Beijing’s support for African countries has expanded beyond sending thousands of healthcare workers to vital infrastructure.
- Opinion: Tilting towards Washington, has India’s time over China come? — New Delhi is displacing Beijing in the American hierarchy of bilateral relations as the White House reverses decades of Sino-US engagement. By Shi Jiangtao.
Nikkei Asia
- Hong Kong becomes China’s ‘wolf warrior’ in Fukushima water fight — City’s vocal opposition to Japan’s plan contrasts with past pragmatism.
- Chinese battery maker CATL joins U.N. initiative on human rights — Company hopes to bolster overseas business amid global focus on forced labor.
- Opinion: China’s economic recovery is on track — Other sectors are offsetting weakness in exports and real estate. By Wei Li.
Bloomberg
- China’s Qin Gang to Skip Asean Meet Due to ‘Physical Condition’ — Beijing’s top diplomat Wang Yi will attend event, says Beijing.
- Hong Kong Activist’s Family Quizzed by Police, Local Media Say — Nathan Law’s elder brother and parents questioned Tuesday.
- Nio Has Been at the Brink Before. Can the EV Maker Rally Again? — The Shanghai-based company once more finds itself trapped in a cycle of dismal sales, low profitability and aggressive competition.
Reuters
- Foxconn dumps $19.5 bln Vedanta chip plan in blow to India — “Foxconn has determined it will not move forward on the joint venture with Vedanta,” a Foxconn statement said without elaborating on the reasons.
- Head of US think tank charged with acting as Chinese agent — The leader of a U.S. think tank has been charged with acting as an unregistered agent of China, as well as seeking to broker the sale of weapons and Iranian oil.
- Geely, Renault strike deal to develop gasoline engines, hybrid technology — They will invest up to 7 billion euros ($7.71 billion) in a new equally held joint venture to develop gasoline engines and hybrid technology for automobiles.
Other Publications
- Foreign Affairs: How China Exports Secrecy — Beijing’s Global Assault on Transparency and Open Government.
- The Washington Post: Winning friends by training workers is China’s new gambit — Vocational programs in 25 countries are part of Beijing’s softer approach to diplomacy.
- The Economist: In Asia data flows are part of a new great game — Geopolitical tension and digital protectionism threaten to undermine a more connected region.
- CSIS: AUKUS Pillar Two: Advancing the Capabilities of the United States, United Kingdom, and Australia — The United States and its allies are in a strategic competition with China in which the race to develop and deploy emerging technologies will play a decisive role.
- ChinaFile: For Beijing, Putting People Back to Work May Prove a Tough Job — The latest effort to revamp the program reflects the Chinese government’s growing concern about unemployment in rural and low-income areas.
