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
- Blacklisted Chinese Chip Maker Does a Thriving Business With U.S. — SMIC’s role in America’s semiconductor industry is fueling a debate on whether technology restrictions are tough enough.
- Army Plans Major Cuts to Special-Operations Forces, Including Green Berets — After post-9/11 expansion, Army struggles with recruiting, focuses on China.
- Are Chinese Buyers Bowing Out of the Art Market? — A disappointing sale at Sotheby’s Hong Kong suggests that China’s art-buying spree may be over.
- China Is Becoming a No-Go Zone for Executives — Foreigners are thinking twice about business trips to the country after Beijing has barred some executives from leaving.
- New Shein Executive Aims to Expand Supply Chain Outside China — Appointment of ex-SoftBank executive comes as fast-fashion giant aims to be closer to its consumers.
The Financial Times
- Jewellery takes centre stage in museums across Asia — A new arts institution that opened last month in China is part of a growing regional movement to showcase local craftsmanship.
- Opinion: Lessons for China from Japan’s lost decade — Beijing is confronting slowing growth, falling prices and rising youth unemployment. From Tokyo, this all looks familiar. By Masazumi Wakatabe.
The New York Times
- Frieze London: For Two Artists, Reality Is Ripe for Manipulation — Gallery Vacancy in Shanghai will send works to Frieze London by Ni Hao, of Taiwan, and Shi Jiayun, of Shanghai, that “filter and recalibrate life.”
- Major China Art Auction at Sotheby’s Fails to Draw Big Bids — A portrait by Amedeo Modigliani sold for less than expected and several artworks went unsold as China’s best-known art investor liquidated part of his collection.
- How the Big Chip Makers Are Pushing Back on Biden’s China Agenda — Nvidia, Intel and Qualcomm are campaigning to protect their businesses before further crackdowns on the sale of semiconductor technology to Beijing.
- Typhoon Koinu Nears Southern China After Killing 1 in Taiwan — The storm is expected to graze China’s southern coast this weekend. It has drenched Taiwan and the Philippines.
Caixin
- In Depth: Nio Looks to Ride Uptick in EV Sales Out of Slump in Crowded Market — To combat challengers eating away at its market share, the automaker has shifted strategies to prioritize sales and boost production.
- China’s BeiDou Satellite System Comes Down to Earth — Huawei’s new phone enables satellite-supported two-way text message conversations and can make satellite calls.
South China Morning Post
- China, Russia ties aimed at global good, Putin tells Sochi forum, slams West for making ‘an enemy out of everyone’ — Russia-China cooperation ‘very important’ for global stability, Putin says weeks ahead of planned visit to Beijing and meeting with Chinese President Xi Jinping.
- As China seeks to supercharge energy deals in Middle East, Qatar eyes benefits of a free-trade agreement — Qatar’s consul general in Hong Kong discusses the role that China has played in helping Qatar position itself as an ‘economic hub’ in the Persian Gulf.
- Terror threat to China ‘is challenge to our own’, Afghanistan’s Taliban leadership pledges to Beijing in apparent first — Amir Khan Muttaqi also gives ‘effective guarantee’ of Chinese nationals’ safety in the country during talks with counterpart Wang Yi on sidelines of regional forum in Tibet.
Nikkei Asia
- China’s ‘Lipstick King’ leaves Alibaba with a livestreaming dilemma — Live-selling influencer’s outburst highlights perils of relying on stars.
- Fukushima wastewater release ‘the only way’: Czech ambassador — Diplomat says Chinese opposition to Japan’s action has ‘no scientific base’.
- Huawei supplier shares jump amid China chip self-sufficiency push — Some stocks rise more than 400% since rollout of new 5G-capable phone.
Bloomberg
- Yellen to Focus on World Bank, China at Global Talks — Treasury Secretary Janet Yellen is expected to push her reform agenda for the World Bank, meet with senior Chinese officials and may discuss new ways to limit Russia’s revenue from oil sales on a nine-day international trip set to start Sunday.
- China’s Giant Iron Ore Buyer Starts Supply Talks With Miners — China Mineral Resources Group Co., the buying agency set up to increase Beijing’s clout in iron ore, is in negotiations with Rio Tinto Group and other leading miners over next year’s supply, according to people familiar with the matter.
- China’s Grip on Germanium Gets Challenged by New Congo Plant — A newly built plant in Democratic Republic of Congo aims to produce 30% of the world’s germanium, according to its owner, potentially easing China’s dominance.
- A Stock Trader’s Guide for Visit of US Senate Group to China — Traders are betting a visit by US senators to China next week may help prevent any further deterioration in bilateral relations, and boost sentiment toward the Asian nation’s assets.
- Opinion: There Is a Bigger Threat to US Trade Than Chinese Chips — The focus on semiconductors risks taking attention away from America’s crucial aerospace sector. By Tim Culpan.
Reuters
- US-China tech war: RISC-V chip technology emerges as new battleground — Lawmakers expressed concerns that Beijing is exploiting a culture of open collaboration among American companies to advance its own semiconductor industry.
- Is the US strategy of engaging China working? — Since the start of the summer, the administration has embarked on a largely unreciprocated push to talk with Beijing, establishing working groups and sending officials and an envoy to Beijing.
- Belgian intelligence service scrutinising Alibaba’s presence at Liege airport — Alibaba says its presence at a cargo airport in Liège is compliant with ‘all laws and regulations’.
- China, Vietnam prepare for possible Xi visit to Hanoi in next month – sources — The visit would underline the Southeast Asian manufacturing hub’s growing strategic importance, as big powers jostle for influence in the region amid rising tensions between Beijing and Washington.
- Kenya to seek $1 billion loan from China, longer repayment period — Ruto’s plan, which also includes a request to lengthen the maturity periods of existing loans, marks a shift in his stance on Chinese debt.
Other Publications
- The Guardian: Addictive, absurdly cheap and controversial: the rise of China’s Temu app — Temu’s meteoric growth – and its astronomical marketing budget – has experts asking whether its business model is sustainable.
- Rest of World: TikTok users are chasing easy money by reposting viral videos from China — The practice goes against TikTok’s policies, but “gurus,” and “mentors” are exploiting the trend with pricey training.
- AP: China keeps raking in the golds as it dominates Asian Games on home soil in Hangzhou — Chinese athletes have typically dominated the competition and this year is no exception with more than 340 medals won by Day 13 of the 15-day event.
- The Washington Post: White House planning face-to-face meeting with Xi Jinping in California — With tension high, the leaders will look to reset relations at the Asia-Pacific Economic Cooperation summit in November, administration officials say.
- POLITICO: Should We Be Worried That Washington’s Pandas Are Being Sent Back to China? — What it means that China is taking back the D.C. icons.
- Foreign Affairs: Mongolia’s Search for a Third Way — What America Can Offer a Country Stuck Between China and Russia.
- Foreign Affairs: Can Vietnam Help America Counter China? — The Limits—and Hidden Strengths—of Washington’s New Partnership.