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
- China Displays New Stealth Fighter in Race to Match U.S. — The public debut of weapons at a Chinese airshow comes as concerns grow in Washington over Beijing’s expanding military power.
- Trump Victory Leaves U.S. Farmers With Questions — China is the largest buyer of U.S. agricultural exports, making Trump’s proposals to institute new tariffs on shipments from China coming to the U.S. the largest open question.
- Trump Victory Leaves China Calling the Shots at COP29 Climate Negotiations — The Trump campaign has vowed to pull the U.S. out of the Paris accord, but China has become a global champion of renewable energy and appears more committed than ever.
- Tencent to Invest $500 Million in Cloud Infrastructure in Indonesia — Tencent Holdings plans to set up its third internet data center in Indonesia, as the Chinese tech giant furthers its partnership with GoTo Group and Alibaba Group.
- Making Fun of Men in China Comes at a Cost — Chinese companies are trying to exploit burgeoning interest in women-focused content without upsetting male customers.
- China Courts U.S. Allies as Defense Against Trump’s Protectionism — Fearing a U.S. tariff barrage, Beijing hopes to use “proactive” tariff cuts and investment offers to peel away American partners in Europe and Asia.
- A Xi Enforcer Is Revving Up China’s Spy Machine—and Alarming the West — The intelligence agency accused of steering cyberattacks on the U.S. has grown more powerful with a trusted protégé of the Chinese leader at the helm.
- China Struggles to Shake Off Deflationary Pressures as Consumer Prices Edge Higher — Saturday’s lukewarm readings on prices, however, suggest Beijing still has work to do if it hopes to jolt private confidence.
- Companies Have a Playbook for Tariffs Under Trump. It Includes Price Increases. — The former president has proposed a tariff of 60% on goods from China, and an across-the-board tariff on imported goods.
- Opinion: Trump Faces a Different World in Term Two — Some adversaries have passed from the scene, while others have grown tougher. By Walter Russell Mead.
- Opinion: China Nurses Its Debt Hangover — Beijing must spend trillions of yuan to undo decades of loose credit. By The Editorial Board.
The Financial Times
- AstraZeneca chief says pharma group takes China probe ‘very seriously’ — UK’s largest drugmaker has been rocked by detention of its China business head.
- China unveils J-35 stealth fighter jet to compete with US — Beijing’s latest-generation aircraft revealed at Zhuhai air show as part of military modernisation.
- China’s Baidu joins Meta in race to make AI-integrated smart glasses — Launch comes as Chinese internet groups jostle for dominance in hardware.
- Why China is betting on local governments to spur the economy — Fiscal package falls short of market hopes as Beijing braces for Trump tariffs.
- Hong Kong stocks fall as China’s stimulus package disappoints — Hang Seng index down 1.5% after Beijing unveils $1.4tn plan to restructure local government debt but no consumer support.
- China’s cleantech boom fuels its confidence on the climate stage — Green energy success is helping Beijing push back against western political pressure.
- Taiwan considers big US defence purchases as overture to Trump — Taipei wants to show new administration it is serious about protecting itself against China.
- Philippines aims to buy US missile launcher in move likely to anger China — Typhon intermediate-range system first deployed in archipelago for bilateral exercises.
- Trump asks arch protectionist Lighthizer to run US trade policy — Tariff hawk’s potential reappointment to top economy role likely to alarm trading partners.
- China unveils $1.4tn package to shore up economy — Beijing braces for trade tensions with US under Trump but measures disappoint investors.
The New York Times
- Hong Kong’s Trophy Homes Are Selling at Fire Sale Prices — China’s economic downturn has not been kind to the ultrarich who made their wealth on its rise. In their haste to cough up cash, Hong Kong’s luxury property market has had some fire sales.
- As Trump Threatens a Wider Trade War, the U.S. Confronts a Changed China — The Chinese economy is more dependent on exports, making tariffs more potent, yet it’s less reliant on American markets and increasingly bent on self-sufficiency.
- How Trump Divides Chinese Who Aspire for Democracy — A new HBO documentary about opposition to autocrats says a lot about the complex politics the president-elect inspires for people fleeing countries.
- Chinese Students Went on Mass Night Bike Rides. Officials Shut Them Down. — Making the impromptu five-hour ride between two Chinese cities became a craze among young people. But as their numbers swelled, the authorities shut it down.
- A Uyghur’s Escape From China Was Just the Beginning — He fled brutal repression — only to discover, as so many Uyghur refugees have, that China’s power stretches far beyond its borders.
- Han Dongfang, Once China’s ‘Worst Nightmare,’ Refuses to Back Down — Neither jail nor exile to Hong Kong has stopped Han Dongfang, a former Tiananmen Square protest leader, from championing workers’ rights. “If you’re born stubborn, you go everywhere stubborn.”
- TSMC Pauses Chip Shipments to Chinese Customers — The Taiwanese chip giant will halt shipments to Chinese companies after some of its most advanced chips ended up with Huawei.
- With Trump Tariffs Looming, Businesses Try to ‘Run From a Moving Target’ — Companies are filling their warehouses or looking into moving factories as they weigh President-elect Donald J. Trump’s threats to impose tariffs on foreign goods.
- Opinion: America’s Allies Are Hedging, and It Has Very Little to Do With Trump — The United States can no longer depend on the loyalty of its friends. By Sarang Shidore.
Caixin
- China’s Stimulus Policies Now Put Emphasis on Consumption, Expert Says — Logic shift in China’s macroeconomic approach aims to root out constraints on domestic demand, experts says.
- Trump 2.0 Means Reboot of Aggressive Tariff Policy Toward China — All eyes are on the critical decisions shaping his second-term agenda — starting with the assembly of a cabinet and the rollout of aggressive trade policies toward China.
- The Key Takeaways From the Caixin Summit — Economists and central bankers offer insights into Sino-U.S. trade tensions, China’s latest fiscal stimulus and its monetary policy overhaul.
- Lithium Boom’s Fallout in Chinese City Hinders Local Industry’s Recovery — Mining and processing the key EV battery material have led to environmental problems in Yichun that have persisted despite a sweeping government crackdown.
- Opinion: Turning Foreign Investment Into ‘Patient Capital’ — After a 19-year hiatus, a new policy has emerged for foreign investors regarding strategic investments in Chinese mainland stocks. By Caixin.
South China Morning Post
- Donald Trump’s United Nations pick Elise Stefanik is a sharp critic of the institution — The ardent Trump ally has signalled support for Taiwan and Israel and sponsored legislation targeting China.
- China’s winter tourism, sports heat up hope of thawing economy — As northern temperatures start to plunge, China’s State Council issues guidelines for the enhanced cultivation of a ‘snow and ice economy’.
- Could China-US rivalry go off the rails in Africa over a resourceful train route? — The US and China are in a race to secure greater access to Africa’s vast mineral reserves with an infrastructure push by land and sea.
- Planned link to Brazil raises geopolitical stakes for China-funded port in Peru — Brazil’s economic ties to China are much greater than Peru’s, and the ramifications of a connection to the port are deemed ‘a big deal’.
- How should Indo-Pacific leaders deal with Trump 2.0? Analysts suggest getting personal — Shinzo Abe, Japanese prime minister during Trump’s first term, is cited as an example of how to work with the US president-elect.
Nikkei Asia
- Singles Day campaigns target overseas Chinese as domestic growth falters — Alibaba and e-commerce rivals bet on deep discounts, cheap shipping to win users.
- China journalism award for English story signals drive to shape narrative — Top prize given to Xinhua news report on Xi Jinping’s unanimous reelection.
- Chinese stocks diverge amid stimulus disenchantment, Trump worries — Chip rally fuels mainland indexes as $1.4tn debt swap disappoints.
- China’s burned-out young urbanites flock to ‘youth nursing homes’ — Simple lodgings offer relaxed atmosphere and escape from pressures of city living.
- Tencent, Visa partner on palm-based authentication in Singapore — Chinese tech giant aims to expand payment system around the world.
Bloomberg
- A Guide to Trump’s Tariff Plans: Expect High Drama and a Bumpy Rollout — Chaotic policymaking may delay the arrival of new import taxes.
- Lululemon’s $150 Yoga Pants Become Surprise Hit in Slowing China — While other Western brands are fading, the Canadian yoga wear maker can’t expand fast enough on the mainland.
- Top China Hedge Fund Urges Clients to Pull Cash on Trump Risks — One of China’s largest hedge funds advised some clients to pocket gains as Donald Trump’s return to the White House increases risks to the Asian nation’s economy and markets.
- Opinion: Trump’s Biggest China Problem Won’t Be Trade — While a tariff war seems almost guaranteed, the real danger is stumbling into a Cuban Missile-style standoff over Taiwan. By Minxin Pei.
- Opinion: China’s Cops Are Coming to a City Near You — Its international policing activities are growing. That’s turning the country into a global security power. By Karishma Vaswani.
Reuters
- Beijing pushes to join security efforts for citizens in Pakistan, sources say — The attacks, and Islamabad’s failure to deter them, have angered China, which has pushed Pakistan to begin formal negotiations for a joint security management system.
- In South America, Trump already losing a trade battle with China — Peru reflects a wider challenge for the White House around South America, where China’s presence has grown rapidly given its huge appetite for the region’s main exports.
- Toyota aims to ramp up China production — Toyota’s strategy is in contrast to that of other global automakers, including Japanese ones, that are either scaling back or pulling out of China.
- China’s J-35A stealth fighter is ‘black box’ despite splashy debut — Even as it takes to the skies more than 10 years after its progenitor, the J-31, made its first flight, few details are public about the J-35’s performance or stealthiness, military analysts say.
Other Publications
- BBC: Dozens killed after car ploughs into crowd in China’s Zhuhai — The incident took place despite heightened security in the city, which is hosting a major civil and military airshow.
- CFR: Southeast Asia Responds to Trump’s Victory — Southeast Asian leaders are adept at dealing with President-elect Trump’s transactional style of diplomacy, but an escalating U.S.-China conflict would severely harm the region.
- Foreign Policy: The New U.S. Arctic Strategy Is Wrong to Focus on China — It emphasizes limited Chinese activities instead of the much more potent Russian threat.
- Foreign Affairs: China’s Gray-Zone Offensive Against Taiwan Is Backfiring — Washington and Taipei Must Prepare for Further Escalation.
- Foreign Affairs: China Should Be Worried About North Korea — How to Make Beijing a Partner in Restraining Pyongyang.
- POLITICO: Aftermath of Trump’s win eclipses Chinese solar project in Texas — Trina Solar built a Texas factory to receive almost $2 billion from the Inflation Reduction Act. It changed course the day after Donald Trump’s election victory.
- The Atlantic: Trump Is Handing China a Golden Opportunity on Climate — Already a leader in clean tech, China may see a new reason to act as leader in addressing climate change too.
- The Economist: China’s stimulus falls short, as a showdown with Trump looms — The country’s rulers may be saving their fiscal ammunition in case of a trade war.
- Brookings: How Taiwan can—and often does—help itself — This is a resilient, wealthy society that has survived many setbacks since World War II. But these self-help tools must be employed with great skill if they are to be effective.
