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
- Allies Fret Over Trump Presidency as Authoritarian Axis Challenges U.S.-Led Order — Western capitals brace for White House shifts on trade and security as cooperation among China, Russia, Iran and North Korea deepens.
- Trump’s Win Signals More Confrontation With Beijing — President-elect set to deepen trade tensions with Washington’s top rival, while China could benefit from weaker U.S. alliances.
- Trade Sector Eyes a New Wave of Tariffs Under Trump — Some industry officials expect U.S. importers to rush in goods to get ahead of expected levies.
- China Has Detained Senior AstraZeneca Executive — The drugmaker says China chief Leon Wang was cooperating with a probe.
- After Trump’s Victory, One Company Prepares to Shift Production From China — Most of Breville’s products are manufactured around Shenzhen, a sprawling Chinese city on the border with Hong Kong.
- TikTok Canada Unit Ordered to Dissolve Operations on National-Security Concerns — A spokeswoman for TikTok said the company would challenge the order in court.
- China’s Export Growth Accelerates as Tariff Threat Looms — Outbound shipments rose 12.7% from a year earlier in October.
The Financial Times
- AstraZeneca’s top China executive detained by authorities — Pharmaceutical group confirms four other current and ex-executives investigated, in addition to Leon Wang.
- Global economy prepares for the Trump ‘macro shock’ — China, Germany and other exporters fear higher tariffs and volatile period of tit-for-tat trade measures.
- Chinese exports soar as Beijing prepares for trade tensions with Trump — China could respond to aggressive new tariffs with bigger stimulus action or currency depreciation, say analysts.
- BHP chief sees signs of recovery in China after September stimulus — Mike Henry says ‘green shoots’ in property, where miner’s iron ore and copper fuel construction.
The New York Times
- China Braces for a New Era of U.S. Rivalry With Trump’s Return — Beijing is expecting more volatility and competition with the United States, though a lackluster economy may limit China’s options for pushing back.
- Canada Shuts TikTok’s Offices Over National Security Risks — The order, which will allow people to still use the app, cited concerns about TikTok’s owner, the Chinese tech giant ByteDance.
- Nissan Cuts 9,000 Jobs and Slashes C.E.O.’s Pay in Half — The Japanese automaker is carving deep cuts in its global operations as it struggles with a steep drop in sales, especially in China.
Caixin
- Evergrande Life Executives Go Missing Amid Probes Into Financial Violations — Former insurance chiefs out of contact as investigators look into collapse of Evergrande property empire.
- How Legacy Technology Broke China’s Stock Market — The Shanghai Stock Exchange and brokerages were unprepared for the deluge of trading triggered by government stimulus announcements and their systems buckled under the pressure.
- Ukraine War Sends Chinese Goods on Circuitous Route to Europe — Traders are trying out alternatives to more conventional rail routes across Asia as they seek to avoid transporting cargo through Russia.
- How Trump’s Return Could Impact China’s Economy and Tech — U.S. economic policy is likely to get more hostile, and Beijing must take steps to mitigate the damage.
South China Morning Post
- Henlius, XtalPi sign deals to expand abroad as Chinese drug companies ‘go out’ for growth — Shanghai Henlius struck a deal in Saudi Arabia while XtalPi signed a partnership with Sinar Mas Multiartha in Indonesia.
- Southeast Asia’s e-commerce gold rush draws Chinese giants from Alibaba to ByteDance — The region’s e-commerce market is set to double by 2030, a new report finds.
- Dell opens AI centre in Shenzhen as PC maker shows commitment to China — Dell’s new AI Smart Solutions Centre comes one year after reports that it would be reducing its reliance on China.
Nikkei Asia
- How Xi Jinping’s tutoring school ban backfired — The need for jobs is trumping the president’s attempt to smooth over China’s divides.
- China’s chipmaking equipment market to shrink next year — The projected contraction is linked to previous rush purchases amid U.S. tensions.
- Panasonic aims to quadruple housing-related China sales next year — The Japanese company sees more focus on features and remodeling.
- POSCO aims to curb China reliance through tie-up with India’s JSW — The South Korean steelmaker plans a $7.7bn plant to tap a growing market.
- Myanmar appeals to China for economic, tech assistance as leader visits — Min Aung Hlaing updates Li Qiang on civil war while Beijing faces delicate balance.
Bloomberg
- Trump’s Return Set to Upend Trade for American Farmers Yet Again — Expectations for a fresh round of trade disruptions with China sent soybeans, corn and wheat futures plunging.
- Opinion: China’s Luckin Shows Starbucks How to Sell Coffee — Is a Frappucino an expression of individualism or a habit? The Chinese chain is betting on the latter. By Shuli Ren.
Reuters
- Why Trump tariffs pose a bigger threat to China’s economy this time — Not only are the tariff rates much higher than the 7.5%-25% levied on China during his first term, the economy is also in a much more vulnerable position.
- What Trump’s 2024 election win means for Asian companies — This is what potential U.S. business policy changes would mean for companies in the semiconductor, EV, and steel sectors.
- Trump win casts fresh doubts over Wall Street’s China strategy — More U.S. financial firms may pull back from China, hive off local units to minimise risks or pause expansion plans on concerns about geopolitical tensions.
Other Publications
- Politico: Chinese hackers gained access to huge trove of Americans’ cell records — Investigators aren’t sure how much data Salt Typhoon might have taken, and are still struggling to evict the elite Chinese hacking crew from companies’ networks.
- Quartz: Trump’s election win could take the U.S.-China chip war to a new level — U.S. president-elect imposed restrictions on China’s Huawei during his first term.
- The Guardian: North Korea’s involvement in Ukraine draws China into a delicate balancing act — The entry of North Korean troops risks a dangerous escalation in the Russia-Ukraine conflict. It also puts Beijing in a tight spot.
- The Economist: The world faces its worst trade wars since 1930s — Donald Trump’s re-election accelerates a crisis for globalization.
- The Washington Post: China, already grappling with a weak economy, braces for Trump’s return — Ties between Beijing and Washington worsened sharply during Donald Trump’s first term. But some in China see a potential bridge builder in his second: Elon Musk.
- PIEE: Despite its economic slowdown, China’s real GDP continues to grow faster than that of the United States — Measuring growth in the constant prices of each country, China’s GDP growth rate continues to surpass that of the United States.
