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
- U.S. Blacklists 28 Entities From China, Russia and Other Countries, Citing National Security Risks — Commerce Department seeks to bar U.S. companies from selling to entities on export control list.
- Ford Tried to Sell the Electric Mustang to China the Tesla Way—It Didn’t Work — Detroit automaker changes its China strategy after EV sales in the country suffer from marketing, sales missteps.
- As Its U.S. Shop Opens, TikTok’s Chinese Merchants Struggle to Sell Their Mops and Soap Dispensers — Picking the right products, avoiding cultural faux pas and navigating social media are all part of the challenges vendors face.
- Huawei’s New Gadgets Show How China Aims to Move Forward Without Foreign Tech — Washington’s poster child for Beijing’s bad behavior stages a comeback.
The Financial Times
- Foreign brands including Tesla to face scrutiny as part of EU probe into China car subsidies — Valdis Dombrovskis claims ‘sufficient prima facie evidence’ to examine foreign electric-vehicle makers’ operations.
- Hong Kong fraud probe tests city’s pro-crypto stance — Regulators accuse trading platform JPEX of misleading investors.
- China and EU agree export controls ‘mechanism’ to ease trade tensions — Signal of willingness to engage as Brussels trade chief Valdis Dombrovskis warns two sides could ‘drift apart.’
- Chinese government probe casts new doubt over Evergrande restructuring — World’s most indebted developer says it cannot issue new debt because its mainland business is ‘being investigated.’
The New York Times
- The Philippines’ Tension With China Crosses New Line in South China Sea — The Philippines is pushing back against China’s territorial claims. But Chinese forces have been unrelenting in using direct confrontation, raising worries about an escalation.
- Behind China-U.S. Tensions Are Misunderstandings, Author Says. — In an interview, the economist Keyu Jin says much of the world is asking the wrong questions — and so is drawing outdated conclusions.
- Slowing, Graying and in Debt, Can China’s Industrial Heartland Be Revived? — China, facing an economic slump, wants to make its industrial northeast more productive, turning to policies that some economists say have outlived their time.
- Philippines Says It Removed Barrier in South China Sea That Blocked Boats — With tensions running high in the South China Sea over territorial rights, the Philippines offered a direct challenge to Beijing by instructing its Coast Guard to haul away a Chinese barrier.
- Ford Halts Work on E.V. Battery Plant in Michigan — Ford has come under attack from Republican lawmakers because it plans to manufacture batteries at the plant in Marshall, Mich., using technology licensed from CATL, a Chinese company that is the world’s largest maker of batteries for electric cars.
- Biden Hosts Pacific Islands, With a Rising China in Mind — The event at the White House was part of an administration effort to deepen ties with a string of small but strategic nations.

Caixin
- Exclusive: Former Evergrande CEO and CFO Face Probe, Sources Say — Multiple current and former executives of China Evergrande Group and its subsidiaries have been swept up by investigations, as authorities look into whether the embattled conglomerate has violated rules over how funds can be used.
- Investigator at China’s Top Graft Buster Turns Himself In — A senior official of China’s antigraft watchdog overseeing investigations of corruption among financial regulators and state-owned enterprise executives turned himself in to authorities over suspected serious disciplinary violations.
- Ford Halts Construction of U.S. EV Battery Plant Using CATL Technology — “We’re pausing work and limiting spending on construction on the Marshall project until we’re confident about our ability to competitively operate the plant,” Ford spokesperson T.R. Reid said in a statement.
South China Morning Post
- China Evergrande has ‘no bullets’ left as crisis lights up mainland social media about end-game for fallen billionaire Hui Ka-yan — Evergrande’s debt plight is lighting up mainland Chinese social media platforms as users debate its ultimate fate. Brock Silvers at Kaiyuan Capital says there is ‘plenty of time on the clock’ for founder Hui Ka-yan to salvage the situation.
- China produces world record peanut test crop amid national food security push — China could triple volumes if the farming methods, including planting one seed per hole rather than two, were applied nationwide, says agriculture agency official.
- Why China’s soaring youth unemployment doesn’t signal an economic apocalypse — After decades of high growth, today’s youth – even with fewer people working – will be wealthier than any other generation. But policymakers must tread carefully, to ensure dissatisfaction does not boil over into unrest and cause political instability.
Nikkei Asia
- Law firm layoffs rise in Hong Kong as China business slows — Beijing’s focus on security curbs dealmaking, with less work for lawyers.
- China boosts rare earths production to bolster booming EV industry — Output quota of critical elements for 2023 increases 14%.
- China seeks tighter developing-nation ties as decoupling hedge — Beijing unveils new diplomatic approach in 14,000-word white paper.
Bloomberg
- Macron Is Pushing Europe Into $900 Billion Fight With China — The European Union’s new, tougher approach to China is being shaped by French concerns that Beijing’s trade practices have started to pose a critical threat to core industries.
- China’s Economy Is Set to Avoid a Japanese-Style Deflation — Prices in China are recovering, according to an independent survey, providing more evidence that the worst may be over for the world’s second-biggest economy and easing fears of a Japan-style deflation for now.
- China Says It’s Talking to the US About Xi Attending APEC Summit — China said it’s talking to the US about who will represent the Asian nation at a summit in less than two months, after President Xi Jinping recently skipped a major gathering of world leaders.
Reuters
- After Xi’s G20 absence, China says willing to play role in APEC’s success — China is willing to play a “constructive” role in the success of the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco, its top diplomat said on Tuesday, after President Xi Jinping’s absence at the annual Group of 20 summit in India.
- China urges countries to boycott Hong Kong media freedom event – document — China is pressing countries to boycott a British-organised event at the United Nations in Geneva on media freedom in Hong Kong with the son of a jailed media tycoon, a letter showed and four diplomats confirmed on Tuesday.
- China’s e-commerce discount race to the bottom puts incumbents under pressure — Discount e-commerce is set to dominate globally during the critical upcoming holiday shopping season in the West and Singles’ Day in China, analysts said.
- US exploring potential space force hotline with China — The United States Space Force has had internal discussions about setting up a hotline with China to prevent crises in space, U.S. commander General Chance Saltzman told Reuters on Monday.
Other Publications
- Al Jazeera: ‘A jealous god’: China remakes religions in its own image — Authorities are violating religious freedoms across China as the leadership seeks to assert control.
- The Economist: The city that encapsulates China’s economic stagnation — Zhengzhou’s experience suggests that local problems will be hard to fix.
- Foreign Affairs: Why Xi Jinping Doesn’t Trust His Own Military — Although the details of the recent purges are still murky, they reflect Xi’s lack of confidence in some of his most senior officers.
- Foreign Policy: Cultural Decoupling From China Is Not the Answer — Beijing’s censorship has pernicious effects on artists and educational institutions—but abandoning all cultural ties would do more harm than good. By Suzanne Nossel
- Council on Foreign Relations: How China and Russia Have Helped Foment Coups and the Growing Militarization of Politics — Militaries have become more involved in the governance and politics of nations worldwide in the last decade.
- Quartz: Ford’s Chinese partner insists their EV battery deal is going well—but Ford isn’t so sure — Amid an autoworkers’ strike, Ford said it is pausing work on its planned Michigan EV battery plant, a partnership with China’s CATL.
- MIT Technology Review: Europe is working to slow down the global expansion of Chinese EVs — The European Commission will launch an anti-subsidy investigation against Chinese automakers, which may result in higher import duties on electric vehicles.