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
- How China Capitalized on U.S. Indifference in Latin America — Xi Jinping’s visit for summits and the inauguration of a port illustrates what some have called China’s economic marginalization of the U.S. in the region.
- How Beijing Took Control of Hong Kong’s Financial Hub—and Left the West Behind — The world’s pre-eminent East-meets-West investment hub has become more Chinese as international financial institutions, corporations, and expatriates retreat.
The Financial Times
- UK must offer Trump concessions on China to avoid tariffs says senior MP — Labour’s Liam Byrne argues government needs to address US concerns about economic security.
- Canadian indigenous groups seek deals with China despite security fears — New land rights allow communities to circumvent Ottawa’s suspicions of Beijing.
- Inside Goldman Sachs’ years-long power struggle over its China venture — A deal with a prominent Chinese banker gave the US group market access, but securing full control cost a lot more than it expected.
- China arms itself for potential trade war with Trump — Beijing has enacted sweeping laws since US president-elect’s first term that would allow it to retaliate if threatened.
- ‘Robot revolution’ forces China’s human workforce to adapt — Factory machinery is evolving fast. Can the workers who will use it keep up?
- Opinion: China has trapped the tiger of AstraZeneca’s growth — The UK pharmaceutical company needs to resolve a corruption crackdown affecting senior executives. By John Gapper.
The New York Times
- China’s Latest Livestream Sensation: Shopping With a Game of Chance — Selling products on livestream video has been a big business in China for years. The latest e-commerce trend adds a game of chance to the mix and leaves many addicted.
- Biden to Meet With President Xi Jinping of China During Summit This Weekend — The meeting with President Xi Jinping comes as President-elect Donald J. Trump has promised a much more aggressive approach to China that includes vast tariffs on Chinese goods.
- After Deadly Car Rampage, Chinese Officials Try to Erase Any Hint of It — Flowers left at the site of the attack, which killed at least 35 people, were quickly removed. Censors deleted videos, articles and comments about it.
- Opinion: Trump Could Win the Contest With China Once and for All — China faces an array of challenges, especially a stagnating economy, making it vulnerable to the president-elect’s assertive tactics. By Craig Singleton.
Caixin
- BNP Paribas Cuts China Investment Banking Jobs — Around a dozen Chinese jobs axed at BNP Paribus as dealmaking slowdown bites.
- How Trump’s Return Might Be a Boon for TikTok — The Chinese-owned short-video app may get a reprieve from the impending federal ban that would cost it one of its biggest markets.
- Opinion: Apple Could Be a Major Casualty of Trump’s China Tariffs — One way Donald Trump has suggested he will “Make America Great Again” is by imposing tariffs of 60% or more on products imported from China. By Xing Yuqing.
South China Morning Post
- Tencent adds 3,000 jobs in third quarter, signalling Big Tech growth in China amid AI race — The Shenzhen-based tech giant has grown to more than 108,800 employees, as nearly two years of downsizing comes to an end.
- Trump’s back, but China must not go back to tit-for-tat tariffs, noted observer warns — Word of caution from eminent Beijing-based academic comes as US president-elect Donald Trump picks string of China hawks for new cabinet.
- Beijing reminds Canada of ‘one China’ commitment ahead of visit by Tsai — Former Taiwanese leader Tsai Ing-wen reportedly expected to address a security forum in Canada, after three-nation European trip last month.
- China’s EV sector reaches 10 million production milestone, overcapacity fears deepen — Chinese EV makers have delivered 9.75 million units to mainland buyers between January and October, a year-on-year jump of 34 per cent.
- Could ‘Peace Beans’ trade enrich US, China agricultural supply-chain diplomacy? — With a focus on American soybeans and Chinese coffee beans, project by US think tank and Chinese university focuses on enhancing agricultural trade.
Nikkei Asia
- China’s Geely to merge Lynk and Zeekr brands amid fierce EV battle — Move comes in response to domestic competition and higher European tariffs.
- Taiwan feels APEC pinch as host Peru welcomes Xi and Chinese megaport — Sources say Lima snubbed Taipei’s original envoy to summit.
- Xi Jinping to keep chasing Chinese dream despite Donald Trump’s return — It was Xi, not Trump, who triggered the accelerating U.S.-China decoupling.
- China’s ‘iPhone city’ reborn as EV production hub — Zhengzhou has seen Foxconn cut production while BYD builds new factories.
- Trump pushes ‘peace through strength’ vision with defense picks — Hegseth and Waltz both call for U.S. military focus on countering China.
Bloomberg
- Lula’s Embrace of Xi Sets Up a Clash Over Trump’s China Policy — The Brazilian president is looking to Beijing to help his country’s economic development. It’s a strategy that risks a run-in with Trump.
- Merck Snags Chinese Cancer Drug For Up to $3.3 Billion — Merck & Co. licensed an experimental cancer antibody from a closely held Chinese company in a deal worth $588 million upfront, plus as much as $2.7 billion in milestone payments.
- Xi’s Key Players to Lead China in Another Trump Trade Fight — Donald Trump’s return to power has raised the chances of another trade war between the US and China, making Beijing’s potential negotiators some of the most important people in Xi Jinping’s government.
- Ukraine Allies to Push China on Russia-North Korea Ties at G-20 — Ukraine’s allies will look to pressure China over North Korea’s growing support for Russia’s war during a Group of 20 Summit in Brazil, according to people familiar with the matter.
- Opinion: Trump Will Strengthen China’s Tech Self-Reliance — Beijing is focused on the long run, and the president-elect’s past policies didn’t stymie its high-tech ambitions. By Catherine Thorbecke.
Reuters
- Top Russian official Shoigu visits Zhuhai air show on final trade day — China demonstrated its pull on the world stage by welcoming a delegation from Saudi Arabia with its first pavilion at the event, as well as its close ties with Russia even as that country is isolated from Western nations.
Other Publications
- Foreign Policy: Beijing Has Already Prepared for Trump’s Return — China is readying for known challenges and unknown risks.
- Foreign Affairs: The Fatal Flaw in India’s China Strategy — Economic Dependence Will Make New Delhi Forever Vulnerable to Beijing.
- POLITICO: China-linked hackers stole wiretap data from telcos, FBI and CISA say — The disclosure is the latest sign that the Chinese burrowed deep inside U.S. communications networks in a far-reaching espionage campaign.
- The Economist: China, Europe, Mexico: the biggest losers from Trumponomics — America’s president-elect wants to reshape trade, capital and labour flows.
- Rest of World: Door-to-door saleswomen are fueling Shein’s rise in Mexico — A large community of catalog saleswomen are selling items from the Chinese platform.
