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
- Macau Casinos Get Their Mojo Back — Visitors are finally returning to Macau and pumping up revenue. But certain casino stocks look much better placed to benefit.
- After Being Raided, Chinese Firm Says It Will Toe National-Security Line — Chinese authorities had criticized Capvision for endangering national security.
- Geodis’s Marie-Christine Lombard on New Hurdles in Global Supply Chains — The CEO of the freight-forwarding giant says moving production out of China reduces risks but comes with complications.
- China Swore Off Overseas Coal Plants. Is Xi Keeping His Climate Promise? — Many countries where Beijing has committed to projects say coal plants are needed to ensure affordable, reliable energy.
- The World’s Dollar Addiction Is Hard to Kick — Though the share of global foreign-exchange reserves in U.S. dollars remains near a 25-year low, there is little sign of rapid de-dollarization.
- How China’s BYD Became Tesla’s Biggest Threat — Once a maker of cellphone batteries, the company is in the running to become the world’s No. 1 seller of electric vehicles.
- Senators Probe TikTok’s Executive Transfers From ByteDance — In a letter to TikTok, Sens. Marsha Blackburn and Richard Blumenthal seek information about ties to parent company.
- Lawmakers Press NBA, Players Union on Forced Labor — A U.S. commission is pushing the league and its players to cut ties with Chinese sportswear companies allegedly linked to Xinjiang forced labor.
- Biden Administration Indicts Chinese Firms Allegedly Tied to Fentanyl Distribution — Treasury also imposes sanctions on firms and their employees related to drug trafficking.
- Congressional U.S.-China Commissioner Warns of Global Tech Supply Chain Risk — Odds of a hot conflict between the U.S. and China are rising, and companies must act now to diversify their tech supply chains.
- As Tesla Deliveries Sputter, BYD Looks Alluring — The Chinese company made more EVs than Tesla in the quarter just ended and its shares trade for a third of the price.
The Financial Times
- Capvision says ‘rectification’ complete after China crackdown — Consultancy targeted by Beijing says it has overhauled compliance system.
- China lithium: falling prices do not mean falling margins — Long-term demand for electric vehicles and the batteries that power them should deter panic selling
- US takes aim at fentanyl with sanctions on China-based network — Treasury’s move comes as Washington tries to combat flow of deadly opioid.
- Opinion: Can China overcome its demographic deficit? — As things stand, a declining population is set to slow the growth of the economy. By Martin Wolf.
- Opinion: China’s electric vehicles threaten to leave Europe in the dust — The historical parallel is with the push into the US by Japanese carmakers in the 1970s. By June Yoon.
The New York Times
- Liu Yiqian, China’s Top Art Collector, Is Selling a Modigliani — Liu Yiqian made global headlines in 2014 and 2015 by paying top prices for paintings and antiquities but is starting to liquidate some of his artworks.
- The 8-Year-Old Boy at the Heart of a Fight Over Tibetan Buddhism — He may have to defend the faith in Mongolia against pressure from China’s ruling Communist Party.
- Senate Delegation to Travel to China During Congressional Recess — The trip comes at a time of heightened tensions between Beijing and Washington, as the Biden administration restricts investments in key Chinese sectors while trying to improve relations.
- Athens Democracy Forum: China and the U.S. Are Intertwined, but Share a Distrust — It’s the intensifying rivalry that could shape much of the world’s future.
Caixin
- China’s Real Estate Market Gets Some Relief in September on Policy Changes — New property sales by China’s top 100 property developers rise nearly 18% month-on-month, but are still down more than 20% from the previous year.
- Chinese National Killed in Bangkok Mall Shooting — One Chinese national was killed and another injured in a central Bangkok mall shooting Tuesday, the Chinese Embassy in Thailand has confirmed.
- In Depth: China Struggles to Wean Itself off Bear Bile Farming — Its popularity in China has made a comeback after a scientific research paper was published in December.
South China Morning Post
- Vice-Premier He Lifeng shown to be China’s point man on economic ties, reaching trade agreement with Germany — He, a confidant of President Xi Jinping, covers a bigger footprint in the trade portfolio than his predecessor Liu He but is not responsible for tech or manufacturing.
- Guatemala to keep Taipei ties while seeking better Beijing relations: next leader says — The Central American country’s president-elect reaffirmed on a visit to Washington that relationship with Taiwan will continue.
- Are China’s state-owned giants about to get even bigger? Party journal flags ‘a matter of survival’ — At a time when China is facing unprecedented economic challenges, state-owned enterprises are called ‘the lifeline of the national economy’ in a prominent party journal.
- How Shein and Temu are changing the face of China’s export machine, making life easier for an army of small businesses — Newcomers like Shein and Temu are tapping China’s vast manufacturing capabilities and using their technology to connect producers directly with overseas consumers.
- Opinion: As China fights Japanification, Tokyo should look in the mirror — For all the talk of China’s urgent need to take action to avoid Japan-like lost decades, Japan itself should take heed of lessons from the past 25 years. By William Pesek.
Nikkei Asia
- Japan courts Canada, Australia for China-free EV supply chain — Nation battles South Korea to secure key minerals outside control of Beijing.
- China border city thrives as trade with Russia booms — Port operations in Manzhouli, located in Inner Mongolia, have had to go round the clock to deal with the increased traffic.
- China’s green tech giants link supply chains to Southeast Asia — From Indonesia to Vietnam, ‘clean energy’ ties ASEAN more closely to Beijing despite South China Sea tensions.
Bloomberg
- Dalio Likens US Chip Curbs on China to 1940s Oil Ban on Japan — Washington’s restrictions on advanced semiconductor exports to China are similar to the petroleum ban it imposed against Japan prior to the outbreak of war in 1941, according to Ray Dalio, founder of Bridgewater Associates.
- EU Formally Opens Subsidies Probe Into EVs Made in China — The European Union has formally launched an anti-subsidies probe into electric vehicles manufactured in China, setting in motion a one-year investigation that could see provisional measures such as countervailing duties imposed in the next nine months.
- Opinion: Temu, Called the Next Amazon Killer, Is Really Just a Dollar Store Killer — China’s Temu is chipping away at the stranglehold that retailers such as Dollar General and Dollar Tree have over low-income and discount shoppers. By Leticia Miranda.
Reuters
- Choppy waters as Europe navigates China-US rivalry — Both the United States and Europe have been hardening their stance towards Beijing while stressing the rules of world trade must be fairly applied.
- Taiwan says China has ‘very diverse’ ways of interfering in election — “The way the Chinese Communists interfere in elections is very diversified,” Taiwan National Security Bureau Director-General Tsai Ming-yen told lawmakers during a parliamentary committee session.
- Siemens is case study in China de-risking dilemma — Siemens’ chief executive presides over a sprawling $110 billion conglomerate with a lowly valuation. But solutions are complicated by Europe’s increasingly tricky relations with China.
Other Publications
- PIIE: China’s new rules on data flows could signal a shift away from security toward growth — Pro-business voices may have the upper hand in this key area where security overreach was particularly disruptive to business, but continued liberalization is far from assured.
- The Guardian: Bondi businessman accused of selling secrets to China can only be accused of plagiarism, lawyers argue — Lawyers for Alexander Csergo say a search using AI tools used to check plagiarism at universities verified his claim he provided open source material.
- AP: U.S. warns of Chinese global disinformation campaign — In a new report, the U.S. State Department has laid out efforts by Beijing, costing billions of dollars, to reshape the global narrative on China.
- Brookings: India-China security competition on land, at sea, in space, and beyond — Tanvi Madan speaks with three experts about these challenges, the linkages between them, India’s response, and the potential role for India’s partners.
- Brookings: Is US security dependent on limiting China’s economic growth? — Is it possible for the United States to champion both free and open markets while placing sweeping limitations on a rival state’s access to goods and services?
- Foreign Affairs: Will Xi’s Military Modernization Pay Off? — China’s Armed Forces Are More Capable—but Beijing Feels Less Secure.
