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
- The U.S. and IMF Disagree About China. That’s A Problem. — The IMF doesn’t share U.S. view that China’s massive trade surpluses are hurting the world, and that tension is likely to grow.
- Opinion: Trump’s Tariffs Won’t Bring Us Peace and Prosperity — Free trade lowers prices and pre-empts war. Why do some Republicans want protectionism instead? By Rand Paul.
The Financial Times
- Chinese EV and self-driving tech companies turn to IPOs for cash — Funding has been drying up for car start-ups in fiercely competitive domestic market.
- Chinese coastguard sparks stand-off with Indonesia in South China Sea — Beijing’s sweeping maritime claims and muscular enforcement actions create friction in disputed waters.
- China struggles to break US chip design ‘chokehold’ — Beijing pushes for bigger share of crucial electronic design automation market.
- China’s Hesai to sue Pentagon after being reinstated to blacklist — World’s biggest laser sensor maker among growing group of Chinese companies challenging US defense department.
- Xi Jinping’s meeting with Narendra Modi signals China-India thaw — Formal encounter at Brics summit is leaders’ first in five years and follows deal on patrols along disputed border.
- HSBC east-west overhaul reignites break-up debate — Top 20 shareholder calls for bank to consider total split.
- HSBC Hong Kong joins China’s alternative to Swift global payments system — Direct participation in the system will mean faster settlements and help internationalize use of renminbi.
The New York Times
- Why It’s Getting Harder to Fly to China — European carriers are enduring higher costs because they have to avoid Russian airspace, while a sluggish economy and geopolitical tensions are hurting business travel to China.
- China May Chafe as North Korea Sends Soldiers to Fight Ukraine — North Korea’s decision to dispatch troops to help Russia subdue Ukraine may put another Kremlin ally, China, in a tough spot diplomatically.
- A Modi-Xi Meeting Could Signal a Thaw Between India and China — A meeting between the two leaders comes just two days after they settled a tense border dispute in the Himalayas. But experts said their long-term geopolitical rivalry would persist.
Caixin
- Chinese Couriers Ride the E-Commerce Boom for Middle East Expansion — Gulf states offer a lucrative online market for China’s logistics providers.
- Smash IPO Doesn’t Shake Investors’ AI Pharma Doubts — While QuantumPharm’s Hong Kong listing was a blockbuster, observers remain cool on the industry’s long-term profitability.
South China Morning Post
- US to unveil AI national security memo to avoid China’s ‘strategic surprise’ and cut risks — American official says other countries are modernizing military and intelligence through AI, pushing the US to ‘maintain our competitive edge.’
- Tesla is the pure EV king, but Chinese drivers steer to hybrids as they worry about range — Tesla said its third-quarter net profit rose 17 per cent from a year earlier to US$2.17 billion.
- Chinese publisher who gave world The Three-Body Problem under corruption cloud — Yao Haijun, deputy editor-in-chief of Science Fiction World, is accused of ‘severe violations of party discipline and the law.’
- Brics summit: China’s President Xi commits to deeper cooperation with Iran amid Mideast conflict — In first meeting with Iranian President Pezeshkian on Brics sidelines, Xi says Gaza ceasefire should occur ‘at the earliest possible date.’
Nikkei Asia
- Xi Jinping’s personality cult shows signs of weakening — A year after party elders laid down some economic truths, Beijing began to pivot.
- China, Hong Kong companies tap Middle East as Western ties sour — Digital infrastructure, capital market investment among areas of interest.
Bloomberg
- China Asks Carmakers to Halt Europe Expansion Over Tariff Spat — Tensions are rising as both powers vie for dominance of the automobile industry.
- Biden Trade Curbs Helped Stop Another China Shock, Sullivan Says — The US under Biden has raised concerns about overcapacity in Chinese industry that’s flooding the world with exports, threatening domestic businesses and jobs.
- Chinese Courier Giant SF Express Is Said to Target Second Listing in Hong Kong — China’s biggest express delivery company could list in the city on November 27.
Reuters
- China’s CATL unveils new battery for extended-range hybrids — It is the world’s first hybrid battery with a range of over 400 kilometers (249 miles).
- Taiwan president to visit frontline islands with China for battle anniversary — President Lai Ching-te will visit a group of islands that sit next to the Chinese coast on Friday.
- Chinese self-driving startup WeRide files for $119 mln U.S. IPO — Investors had been closely awaiting WeRide’s potential listing to look for signs of pickup for Chinese IPOs in the U.S.
Other Publications
- The Economist: Ambiguity or madness? Where Harris and Trump stand on China — The vice-president makes no promise to defend Taiwan; her rival boasts of being crazy.
- Washington Post: American views of China hit record low, poll finds, as animosity grows — A majority of Americans — 55 percent — say the United States should actively work to limit the growth of China’s power, according to a Chicago Council poll.
- Foreign Policy: Can Chinese Americans Help Turn Georgia Blue Again? — Concerns about Beijing’s influence loom large in a state where Asian American voters mobilized in 2020.
- The Information: Temu 2.0 Attacks Amazon’s Achilles’ Heel — The race to sign up Amazon merchants is part of Temu’s pivot this year from its original direct-from-China strategy to now aggressively courting sellers that ship out of U.S. warehouses.