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.
Paid subscribers automatically have this list emailed directly to their inboxes every day by 10 a.m. EST. Subscribe here.
The Wall Street Journal
- Breaking Down Trump’s Tariffs on China and the World, in Charts — China remains a top trade partner, even as imports from other countries grow.
- General Motors to Take $5 Billion Charge on China Business — Carmaker’s shares slipped in premarket trading.
- China Services Activity Gauge Signals Continued Growth, Optimism — The Caixin services purchasing managers index came in at 51.5 in November, edging down from 52.0 in October.
The Financial Times
- China’s ties with Saudi Arabia buoyed by green tech — Warming relations between Xi Jinping and Saudi crown prince complicate outlook for Trump administration.
- General Motors takes $5bn charge against China businesses — Move lays bare slowdown in what was once the US carmaker’s largest market.
- Opinion: South Korea’s tumult is a symptom of China-US strife — As the globalisation-friendly world order fades, its new geoeconomic course is fraught with risk. By Leo Lewis.
- Opinion: Western businesses in China hold on to hopes for Trump 2.0 — Some believe the incoming US president is in a strong position to negotiate a trade deal with Beijing. By Thomas Hale.
The New York Times
- Antidoping Agency Froze Out Investigators Who Warned About China — The World Anti-Doping Agency’s investigative unit highlighted intelligence about Chinese athletes possibly using a banned medication, but were kept out of the loop when 23 swimmers tested positive for it.
- G.M.’s Ailing China Business Will Deal It a $5 Billion Blow — General Motors and other foreign automakers are selling fewer cars and losing lots of money in China, where domestic electric and hybrid cars have taken off.
Caixin
- For Chinese Battery-Makers, Europe Is Losing Its Spark — Lower than expected demand is leading some companies to pull the plug on their more ambitious expansion plans.
- Rise in Foreign Investors’ Holdings of Chinese Stocks Was Likely Modest, Fragile, Analysts Say — While top institutions grew their holdings in select sectors in the third quarter, policy and geopolitical uncertainties may spark a renewed exodus.
- Southeast Asia Shines as Chinese Clean-Energy Firms’ Traditional Markets Dim — Companies should look to the region, which is rich in mineral resources and has growing markets for green goods, experts say.
- Chinese Chip Firms Play Down Impact of New U.S. Export Curbs — Naura Technology, Empyrean Technology among firms targeted by the restrictions who say they don’t expect to see a material effect on their operations.
- Backlash From Key Chinese industries as U.S. Expands Chip Export Restrictions — China describes tighter U.S. chip restrictions as ‘economic coercion and unilateral bullying.’
South China Morning Post
- How Donald Trump’s push to end Ukraine war tips his hand on China, Russia and North Korea — U.S. president-elect likely to encounter difficulties given the three countries’ aligned interests in challenging the West, analysts say.
- South Korea’s martial law sends brief tremors through Chinese tourists, firms — South Korea’s six hours of martial law caused some concern among Chinese tourists and tradespeople, but most effects should be short-term.
- Opinion: Spate of random killings rooted in China’s social and economic despair — The mental trauma from pandemic controls and the economic slump have led to feelings of helplessness and despair that cannot be ignored. By Audrey Jiajia Li.
Nikkei Asia
- Chinese economists’ candid speeches poke holes in ‘bright prospects’ — Viral remarks warn of inflated growth and ‘lethargic’ youth, casting doubt on official narrative.
- China optimism fades among German, U.K. companies: surveys — Strategies shift to localization and helping Chinese peers go global.
- China readying satellite-based kill chain, key U.S. commander says — Anthony Mastalir calls Space Force component in Japan critical for deterrence.
Bloomberg
- China’s New Port Has Peru Targeting $30 Billion Farm Exports — By reducing travel times, the Chinese-operated facility will make perishable goods more accessible to Asian markets.
- China Tech Stumbles In Hunt for Wall Street’s AI Gold Rush — The underperformance reflects investor pessimism toward China’s economic revival efforts, on top of concerns over monetization and trade bans.
- Opinion: China’s Minerals Export Ban Has a Silver Lining for the U.S. — It’s not ideal that support for the energy transition under Trump rests on geopolitical tensions, but the industry will take what leverage it can get. By Liam Denning.
Reuters
- Philippines, China trade accusations on new South China Sea confrontation — Chinese coast guard vessels fired water cannons and side-swiped a Manila fisheries bureau boat on the way to deliver supplies to Filipino fishermen in the area, according to Philippines officials.
- US law firm Paul Weiss to close Beijing office, joining China exodus — A growing number of major U.S. law firms have left China or shrunk their footprints there over the past two years.
Other Publications
- The Information: Temu and Shein Delivery Providers Face Labor Complaints — Direct-from-China sellers rely in part on new budget services to deliver to your doorstep. But their pay practices, where workers earn a daily lump sum no matter how long assigned deliveries take, are coming under fire.
- The Guardian: China’s share of global electric car market rises to 76% — Market share increases after strong demand within country offsets risks from western tariffs on Chinese-made EVs.
- Washington Post: U.S. officials say they still have not expelled Chinese telco hackers — In the most detailed account of the major espionage effort, security officials say spies accessed calling records, mostly from the Washington region.
- Foreign Policy: The Baltic Sea’s Bad Actors — Russian and Chinese gray-zone aggression prove that dreams of a peaceful “NATO lake” were premature.
- Nature: Sick animals suggest COVID pandemic started in Wuhan market — A preliminary analysis takes a closer look at genomic data collected at the market.
- Brookings: Assessing Trump’s proposed 25% tariff on imports from Mexico and Canada — The proposed tariffs could hinder efforts to address broader strategic issues, particularly with China, Joshua Meltzer writes.
