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 Coped With Trump’s First Trade War. A Second One Will Be Tougher. — Beijing might have little choice but to reconfigure its economy should it become embroiled in a broader trade conflict.
- China’s Economy Picks Up, but Still Needs More Help — Friday’s data shows that Beijing’s recent cascade of monetary and fiscal easing measures have yet to fully reinvigorate an economy weighed down by a yearslong property-sector slump.
- Asia’s Tamed Inflation. Now, It Must Get Its Fiscal House in Order, IMF Official Says — Asia’s economic resilience faces tests from conflicts in the Middle East, uncertainty about U.S. policy, and continued doubts over China’s economic revitalization.
The Financial Times
- Russian sales of Chinese cars surge after western sanctions hit — Purchases of vehicles from Asian nation’s automakers reach fresh records as Russians ‘vote with their wallets’.
- Jane Street invested in start-up turning China’s noodle shop sales into securities — Micro Connect has amassed wealth of real-time data on China’s economy by financing small businesses in exchange for revenues.
- China’s retail sales jump but property gloom persists — Policymakers have unveiled a range of stimulus measures to restore confidence in the economy.
- Zhuhai reels after China’s biggest mass killing in a decade — Rare comments from Xi Jinping signal Beijing’s determination to maintain social control.
- China borrows almost as cheaply as US in return to dollar bond market — Investors place nearly $40bn of orders to buy $2bn of bonds issued by China’s finance ministry.
The New York Times
- World Fears a Wider Trade War. Malaysia Sees an Opportunity. — With Donald J. Trump promising tariffs, Malaysia hopes a deal with Singapore for greater economic integration will strengthen its role as a China alternative.
- Biden’s Swan Song: A Diplomatic Trip Overshadowed by Trump’s Victory — President Biden will attend global summits in Peru and Brazil as world leaders prepare for the return of Donald Trump’s isolationist foreign policy.
Caixin
- Shanghai’s Struggle to Unclog Its Hospitals — Patients with needs that could be handled at local clinics are choking major hospitals as getting people to trust community-level care is proving a challenge.
- Wang Chaoyong’s Dream Ends as Chinaequity Delisted After Compliance Failures — Investment journey ends for ‘Wall Street Chinese Prodigy’ as Chinaequity delisted.
- Binance Plans Southeast Asia Expansion Amid Greater Crypto Traction — Regulation of the digital asset is expected to pick up pace next year, which will help grow the industry to include more institutional players who operate in highly regulated environments, a Binance executive told Caixin.
South China Morning Post
- Jobs at China’s foreign firms drop to 14-year low amid fears of further cuts — The number of people employed by foreign companies in China fell 15 per cent last year, dipping below 10 million for first time since 2009.
- Could rare earth recycling relieve China of a trade trump card? — Harvesting and recycling rare earth minerals can be ramped up faster than new mines, new report says.
- Chinese military hardware draws interest from the Middle East at air show — Countries have been balancing traditional security partnerships with the US with increasing ties with China.
- China-Russia trade set to hit new highs, but Trump factor, payments cloud outlook — US president-elect Donald Trump’s return and prolonged financial sanctions could complicate trade between Russia and China.
- Amazon questioned by US Congress over TikTok e-commerce deal — Some see the collaboration allowing users to directly buy Amazon goods through the ByteDance-owned app as a way to make it harder to ban TikTok.
Nikkei Asia
- Olympus to assemble endoscopes in China as hospitals ‘buy Chinese’ — Market still has room for growth despite local competition, executive says.
- Asia unsettled as team Trump talks up ‘common sense’ foreign policy — New aide picks leave U.S. allies fretting on potential for pullback from past commitments.
- China’s ‘hidden debt’ problem bigger than Beijing suggests, analysts say — Debt swap program still leaves estimated $6tn in off-balance-sheet liabilities.
- ‘Don’t be so smug’ on Trump tariffs, Stephen Roach warns in Hong Kong — Economist says threat should be taken ‘literally’ with global economy at tipping point.
- Iran’s Jask and Pakistan’s Gwadar are China’s ports of power — Even if Strait of Hormuz is blocked, China can receive oil from Iran, Middle East. By Syed Fazl-e-Haider.
Bloomberg
- China’s Stock Rally Is Feeding a Casino Frenzy Among Amateur Investors — The swelling crowds at Shanghai’s street corner stock salon show rampant speculation is on the rise.
- China’s $1.3 Billion Gamble on Peru Port Faces Snags From Andes to Amazon — China has made a $1.3 billion bet that a new port in Peru will boost access to South America’s agricultural bounty. Cashing in on the investment may be harder than expected.
- China Stimulus Boosts Domestic Consumption as Trump Tariffs Loom — The snapshot of China’s economy for October offered other indications of easing pressures.
- China-Origin Drugmaker BeiGene to Rename Itself Amid Global Push — China’s leading innovative cancer drugmaker BeiGene Ltd. plans to change its name to BeOne Medicines as part of a rebranding to support its growth ambitions in markets including the US and Europe.
- China’s Troubled Solar Sector at ‘Turning Point,’ Longi Says — China’s beleaguered solar industry, wracked by a glut and fierce price war, is already on the road to recovery, according to one of the country’s largest panel manufacturers.
Reuters
- China says Philippines sent supplies to disputed shoal — China’s Coast Guard said the supply run had proceeded “with permission” to what it considers an “illegally” beached ship.
- Chinese defence firms to attend Vietnam arms fair as ties deepen — The two Communist neighbours have repeatedly said in recent months that they want to boost security and defence industry ties, and signed preliminary agreements on the matter.
Other Publications
- Foreign Affairs: America’s Last Chance With the Global South — In an Age of Great-Power Competition, Washington Needs the G-20.
- The Washington Post: Beijing is already preparing to retaliate in a second Trump era — President-elect Donald Trump has vowed to impose new tariffs on China, but Beijing is wiser and better prepared to push back this time around, analysts say.
- The Economist: China should not wait to stimulate its economy — It is heading into a trade war.
- Brookings: How is Trump’s reelection likely to affect US foreign policy? — Brookings experts break down what Trump’s reelection likely means for the future of U.S. foreign policy.
- CSIS: Countering China and Russia: The Hidden Advantages of Women, Peace, and Security — The central challenge before the DoD—and the U.S. government more broadly—is to better tailor its deterrent strategies through more creative employment of military ways and means.
- Rest of World: Chinese immigrants in the U.S. are running Temu shipping centers out of their homes — To speed up delivery and dodge a crackdown on shipments from China, e-commerce companies are turning to so-called “family warehouses.”
