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
- Trump to Nominate Former Georgia Sen. David Perdue as Ambassador to China — President-elect has threatened steep tariffs on products from Beijing.
- Nestlé, Starbucks Coffee Supply Chains Scrutinized Over China Labor Practices — Workers on ‘ghost farms’ in Yunnan province are facing excessive hours and poor safety standards, according to a report from China Labor Watch.
- NBA’s Diplomatic Playbook Opens an Opportunity in China — League’s deal for preseason games in Macau could presage return to mainland.
- Hong Kong’s IPO Activity Emerges From Drought — In the first three quarters, funds raised from new primary and secondary listings in the city more than doubled.
- This ‘Blind Box’ Held a Pleasant Surprise for Investors — A rare bright spot among sagging Chinese stocks, Hong Kong-listed Pop Mart is turning cute toys into gold — for now.
The Financial Times
- Will China’s manufacturing juggernaut run out of road? — Faced with weak demand at home and the threat of tariffs abroad, Beijing is under pressure to rethink its export-driven model.
- Underused Singapore-China ETF link set for revamp in 2025 — Fewer than 10 ETFs have been launched in the three years since scheme was set up.
- Trump picks former senator Perdue for ambassador to China — President-elect says candidate’s international business career will help build relations with Beijing.
- Opinion: How the chip war could turn under Trump — From tariffs to AI demand, US companies are pondering what comes next. By Chris Miller.
The New York Times
- Trump Picks Former Senator David Perdue to Be Ambassador to China — David Perdue would serve in the role at a time when the U.S.-China relationship is considered to be the most consequential in the world.
- Trump’s Threats About the Dollar Could Push Other Countries to Find Alternatives — President-elect Donald J. Trump threatened to impose tariffs on countries that seek to replace the dollar in trade or undermine its global reserve currency status.
Caixin
- GAC Group Sells Stake in Battery Unit to Charge Up Its Profits — Guangzhou automaker group offloads share in loss-making battery unit as price war bites.
- Micro Dramas Take Off in China as Platforms Chase Users’ Attention — The format has captured millions of viewers in China, as its brevity caters to fragmented viewing habits while dramatic plot twists appeal to viewers of all ages.
- In Depth: E-Commerce Platforms’ Buyer-Friendly Policies Leave Door Open for Scammers — Amid a spending slump, consumer-friendly refund and returns policies that have given rise to a swathe of scams that merchants are mostly powerless to combat.
South China Morning Post
- PLA looks into China-U.S. collaboration in biosecurity research — A new study has revealed the large number of biosafety research partnerships in recent years between China and the U.S.
- Global firms in China go local as trade, tech flare-ups threaten operations — Many businesses are adopting an ‘in China for China’ strategy to stay in the lucrative market while avoiding geopolitical disruptions.
- Another Hainan ‘tiger’ tangled in a Chinese corruption investigation — Haikou Communist Party boss Luo Zengbin is the 54th senior official to face a discipline investigation this year.
Nikkei Asia
- China’s defense chief appears in public amid reports of graft probe — Ministry has not reported on Dong Jun’s activities since Nov. 22.
- ByteDance chatbot hits No. 2 worldwide as China embraces AI — Companies develop wide range of everyday applications for emerging technology.
- Uniqlo’s Xinjiang cotton dilemma: Caught between two markets — Chinese public angered, but state officials send calmer message.
- China benchmark bond yield’s new low rattles local insurers — Players call for more investment channels to offload risks.
- TikTok steps up hiring in the U.S. as court decision on ban looms — Court ruling could come Friday as platform logs strong holiday weekend sales.
Bloomberg
- Two Sigma, Hillhouse Risk Losing Texas Cash on New China Curbs — A new order for state entities to divest all of their China investments calls into question the firms’ ability to hold on to existing cash or raise fresh capital from the Lone Star State.
- China Sets Precedent by Banning Others From Selling Goods to U.S. — The first use of new export control rules attempts to replicate the extraterritorial reach of U.S. and European sanctions by covering Chinese products or goods with Chinese parts in them.
- Trump’s China Tariff Plan Has $64 Billion Import Hole — Tens of billions of dollars worth of goods will probably escape import taxes due to loopholes and undercounting.
- Wall Street Banks Predict Biggest China Rate Cuts in Decade — Wall Street expects China’s central bank to deliver the biggest interest-rate cuts in a decade next year.
- Opinion: Chinese Technology Is Getting More Persuasive — Tools that nudge your decision-making is a concern that extends far beyond how Beijing could use it. By Catherine Thorbecke.
Reuters
- Rattled by China, West scrambles to rejig critical minerals supply chains — Beijing’s restrictions bring added urgency for Western players to cut their reliance on minerals from China.
- Two critical online views on China’s economy vanish ahead of policy meeting — Gao Shanwen had said that China’s youth are dragging down consumption due to high unemployment, while spending among older people has plateaued.
- Paraguay expels Chinese envoy over Taiwan ‘interference’ — Paraguay canceled a low-level Chinese diplomat’s visa and ordered him to leave the country.
Other Publications
- The Washington Post: Bolster defenses against China hackers or face fines, FCC warns telecoms — Agency chairwoman Jessica Rosenworcel drafted plans to regulate cybersecurity in the wake of the massive Salt Typhoon attack on U.S. phone networks.
- Foreign Affairs: Can Trump Split China and Russia? — Why Beijing and Moscow’s partnership will be hard to break.
- The Economist: Fresh doubts about China’s ability to invade Taiwan — How corruption in the PLA is changing the calculations of analysts.
- The Economist: Will China’s “green Great Wall” save it from encroaching sands? — A big part of it has just been completed. Its effect is hotly debated.
- The Information: Meta to Farm Out Design for Mixed Reality Devices, Shift Some Production From China — Meta has started outsourcing some design for mixed reality devices to its manufacturer Goertek in China, but now it’s moving some manufacturing to Vietnam.
- Foreign Policy: Biden Tees Up Trump With a Final China Chip Battle — New U.S. export controls on China — and Beijing’s immediate countermeasures — have set the tone for the incoming administration.
