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
- Tencent Profit Momentum Continues on Gaming Strength — Tencent’s core gaming business delivered strong results as the Chinese technology giant contended with a cooling economy.
- Trump Is Recruiting a Team of China Hawks. So Why Is Beijing Relieved? — Absent from the expected cabinet lineup are China’s most-feared adversaries, including Mike Pompeo and Robert O’Brien.
- SUV Driver Plows Into Crowd in China, Killing 35; Attack Draws Response From Xi Jinping — The attack is the latest in a string of violent acts. President Xi Jinping called on authorities to “promptly resolve conflicts and disputes.”
The Financial Times
- South America’s ‘made in China’ megaport prepares to transform trade — Beijing-backed project in Peru poses strategic challenge to US as Donald Trump prepares to take office in January.
- China CSI A500 index sparks fresh interest from global managers — Neuberger Berman, BlackRock and Manulife have submitted applications for ‘enhanced’ CSI A500 index funds.
- Xi faces heat over failure to protect Chinese workers overseas — Bomb attack by Pakistan separatists adds to pressure on Beijing to secure interests.
- Dollar hits six-month high as Trump tariff talk fuels inflation fears — US Treasury yields rise as traders scale back expectations for interest rate cuts.
- Trump’s cabinet picks signal tougher stance on China — Experts say appointments of Mike Waltz and others show the president-elect is preparing a more hawkish stance on Beijing.
- China urges ‘constructive dialogue’ on climate change under Trump — Envoy tells COP29 summit in Baku that it is ‘firmly’ committed to controlling methane and other super-pollutants.
- Chinese driver accused of killing 35 people in car-ramming attack — Incident in southern city of Zhuhai follows string of apparently random acts of violence.
- Opinion: US-China relations will depend on which Trump shows up — Under the new president, the range of possible outcomes is wider than ever before. By Evan Medeiros.
The New York Times
- Once They Were Neocons. Now Trump’s Foreign Policy Picks Are All ‘America First.’ — President-elect Donald J. Trump is considering nominees who fit more comfortably within his often erratic worldview, in which deal-making reigns over ideology.
- Mexico Signals It Could Hit Back With Tariffs at U.S. — Could a tariff war erupt between the United States and Mexico? A top Mexican official said his country might retaliate if the Trump administration placed steep tariffs on Mexico.
Caixin
- China’s AI App Startups Should Plan Overseas Expansion as ‘Quickly as Possible’ — Firms with a global strategy are more likely to attract investors and have the potential to tap higher-paying foreign customers, industry insiders say.
- Alibaba Launches AI-Powered Search Engine for International Merchants — Accio will help small and midsize merchants locate and connect with global suppliers by allowing searches using natural language and other modes such as photos.
- China’s Comac Secures More Than 100 Aircraft Orders at Zhuhai Air Show — Airshow deals push orders for China’s first domestic large commercial jet past 1,200.
South China Morning Post
- China’s space ambitions face ‘huge test’ from Musk presence in Trump White House — Chinese observers say Beijing needs to stick to its own milestones and avoid getting into a race with the US if possible.
- TikTok and ByteDance hire hundreds of Chinese workers in US despite scrutiny — More than 60 per cent of the over 1,000 approved H-1B hires for TikTok and ByteDance last financial year were from China.
- China’s 4 commercial jets unboxed: from the rebranded C909 to a futuristic C939 — More details about China’s home-grown passenger planes emerge at Zhuhai air show, with new sales and lofty aviation ambitions on display.
- Why Donald Trump’s win could mean a defence budget nightmare for Taiwan — Taiwan might face impossible expectations from US president-elect who has called for island to drastically increase military spending.
- Asia-Pacific to see slowing economic growth amid trade tensions, policy uncertainty: Apec — Protectionism ‘harms economic relations’ among 21 member countries, group’s report says, as unease rises over Donald Trump’s agenda.
Nikkei Asia
- Tokyo Electron weighs China chip risk as it upgrades profit outlook — Threat of stricter U.S. export controls looms for Japan chipmaking equipment suppliers.
- Siemens to ‘defend market share’ in China, says CEO Busch — German industry giant secures stake in China despite Berlin derisking push.
- Trump’s new trade war hangs over APEC summit — Indo-Pacific economic growth will slow as protectionism spreads, forum warns.
- Japan PM Ishiba set to meet China’s Xi on Friday in Peru — Leaders intend to confirm importance of high-level dialogue.
- Opinion: Trump’s return presents opportunities for China — Tariffs and weaker military guarantees likely to irk nations long dependent on the U.S. By Cao Xin.
Bloomberg
- Trump Taps Former Intelligence Chief Ratcliffe to Lead CIA — John Ratcliffe is expected to bring a heavy focus on countering national security threats and foreign adversaries such as China and Iran.
- China’s Dollar Bond Sale Inundated With $40 Billion of Bids — China, which recently unveiled plans to support its ailing economy, has received more than $40 billion of bids for its first dollar bond issuance since 2021.
- Kyle Bass Hails Trump’s China Hawks as ‘Realists’ on Xi Threat — The expected appointment of officials with strong anti-China views to President-elect Donald Trump’s cabinet was welcomed by hedge fund veteran Kyle Bass, even as it risks straining ties between the world’s largest economies.
- China Seen Countering Trump Tariffs With Stimulus, Weaker Yuan — China may embrace greater stimulus, bolster manufacturing, and allow the yuan to weaken to offset the negative effects of a second Trump presidency on the Chinese economy, analysts said.
- Opinion: Trump’s Contempt Is China’s Gain in Latin America — He and Marco Rubio should tread strategically in Latin America, not just brandish a big stick, if they want to keep the region from getting closer to China. By Juan Pablo Spinetto.
Reuters
- China battery giant CATL would build US plant if Trump allows it — Trump wants to prevent Chinese auto imports but has said he remains open to Chinese automakers building vehicles in the United States.
- Cold War bomber enhances China’s ability to strike US bases — Like America, which still relies on upgraded versions of the B-52, a bomber from the same era, China has successfully modernized its jet-powered H-6 to carry on flying deep into the 21st Century.
- Vietnam expands chip packaging footprint as investors reduce China links — Vietnam’s growth in the back-end segment of the chips industry has been encouraged by the Biden administration amid growing trade tensions between Washington and Beijing.
Other Publications
- The Washington Post: Trump appointees signal a new hawkish China policy — Powerful foreign policy roles for Marco Rubio, Mike Waltz and Elise Stefanik will put ardent China critics in key positions.
- AP: A diminished Biden heads to APEC summit in Peru, overshadowed by China’s Xi — Donald Trump’s election victory has pulled the rug out from under a lame-duck Democrat at the high-profile summit attended by over a dozen world leaders.
- The Economist: Mike Waltz wants America to focus on the threat from China — Donald Trump’s national security adviser draws bracing lessons from his army days.
- The Economist: Mega-polluter China believes it is a climate saviour — It accounts for almost 40% of global investment in clean energy.
- The Guardian: China must face ‘higher cost’ for backing Russia in Ukraine, says next EU foreign policy chief — Kaja Kallas says Ukraine’s victory in war is ‘a priority for us all’, adding that it is also in the US interest.
