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
- U.S.’s Channels With China Have Gone Dark With Trump’s Return — During Trump’s first term, his team had little patience with formal communication frameworks preferred by Beijing.
- China Has Limited Firepower to Counter U.S. Tariffs — While Beijing has already brandished the ways it could hit back at Trump’s levies, such retaliation risks boomeranging.
- Fear That China Rules the Waves Jolts U.S. to Pursue Maritime Revival — Collapse of U.S. commercial shipping and shipbuilding poses national-security risk, says growing chorus in Washington.
- The Elusive Crime Boss Linked to Billion-Dollar ‘Pig Butchering’ Scams — Chinese mobster known as Broken Tooth is sanctioned by U.S. but remains free, selling swag and cutting ribbons.
- Opinion: What ‘Engagers’ Got Right About China — Economic protectionism is no substitute for military protection, and economic ties have their benefits. By Holman W. Jenkins.
The Financial Times
- How America First will transform the world in 2025 — In different ways, the US, Russia and China have all become revisionist powers that are seeking radical change to the status quo.
- Beijing seeks to curb ‘shakedown’ detentions of Chinese executives — Senior figures at more than 80 listed companies were held by local authorities in 2024, FT analysis finds.
The New York Times
- Mexico, Betting Trump Is Bluffing on Tariffs, Sees an Opportunity — Business leaders in Mexico say the incoming U.S. administration will enhance the appeal of their factories as an alternative to plants in China.
- Trump Urges Supreme Court to Pause TikTok Ban — The president-elect took no position on the app’s First Amendment challenge to the law, which sets a Jan. 19 deadline to sell or close the popular platform.
- How Shen Yun Tapped Religious Fervor to Make $266 Million — The dance group has accumulated enormous wealth, in large part by getting followers of the Falun Gong religious movement to work for free and pay its bills.
- Shen Yun Needed Publicity. The Epoch Times Wrote 17,000 Articles. — A publisher that rose to prominence promoting right-wing conspiracy theories has also served as sword and shield for the dance group and the religious movement behind it.
- Opinion: Elon Musk Is a National Security Risk — His cozy relationship with Chinese leaders and reported contacts with Russian officials is a cause for alarm. By Russel L. Honoré.
Caixin
- How Profit-Driven Law Enforcement Can Kill Businesses — Tighter central oversight needed to close loopholes that allow profit-driven law enforcement overreach.
- China Sets Up New Division to Advance its Low-Altitude Economy — The Low-Altitude Economy Development Division will coordinate policies, plans and infrastructure development.
South China Morning Post
- China’s faith in Djibouti is paying off, but could Red Sea crisis muddy the waters? — Djibouti’s key location has buoyed Chinese firms in ports and transport, but some fear the Red Sea crisis may not be all silver lining.
- Tech war in 2024: China catches up fast in AI race, but U.S. chip curbs cast shadow — Abundant investment and an open-source approach have pushed China to the AI forefront, but a lack of advanced chips may prove devastating.
- Prices slashed again in China’s EV sector, threatening unprofitable carmakers — An anticipated sales decline after a subsidy expires is expected to exacerbate the financial squeeze that is throttling smaller players.
- Too busy for love in time of baby bust: Chinese university students embrace being single — Fears expressed that heavier burdens stemming from a focus on finding a job and making money could add to China’s demographic crisis.
Nikkei Asia
- Why Japan is wary of teaming up with China to decarbonize Asia — Real question is whether China will allow Japan to assert leadership in sector.
- China races to secure advanced U.S. chip materials ahead of new year — Tighter trade restrictions feared as Trump readies White House return.
- Chinese consumers become thrifty but ready to spend on relaxation — Hit products for 2024 reflect slowing economy and people’s worries.
- Greenland crucial to Arctic race vs. Russia, China: ex-Trump aide — U.S. ownership can lead defense of island, Robert O’Brien says.
Bloomberg
- China’s Record Dividend Payout Intensifies Pressure on the Yuan — Overseas-listed firms’ cash payouts weigh on demand for yuan, which is already under pressure from a weak economy and the threat of U.S. tariffs.
- JBS, Marfrig Shares Drop as China Launches Beef-Import Probe — Protectionist moves would likely hurt Brazil’s exports.
Reuters
- Exclusive: Brazil yanks temp work visas for China’s BYD after trafficking claims — The announcement came days after labor authorities said they found 163 Chinese workers who had been brought to Brazil irregularly in “slavery-like” conditions at a BYD factory construction site.
- Exclusive: Foxconn, other Asian firms consider Mexico factories as China risks grow — The plans could usher in billions of dollars in badly needed fresh investments over the next few years for Latin America’s second-largest economy.
- Chinese youth flock to civil service, but slow economy puts ‘iron rice bowl’ jobs at risk — Applicant numbers reflect the huge demand for stability from disillusioned Gen Z Chinese and the lack of attractive options in the private sector.
Other Publications
- The Economist: China’s firms are taking flight, worrying its rulers — Policymakers at home and abroad are anxious about offshoring.
- CNN: China is building new detention centers all over the country as Xi Jinping widens corruption purge — It’s an extension of a system long used by the party to exert control and instill fear among its members.
- MIT Technology Review: China wants to restore the sea with high-tech marine ranches — China is the world’s top fish consumer and is spending billions on technology designed to restock the oceans. But will this expensive experiment actually work?
- BBC: A year of mass attacks reveals anger and frustration in China — The killings have led to questions about what is driving people to murder strangers en masse.
- The Washington Post: China unveils new futuristic fighter jets in surprise flyby — Viral images on Chinese social media show the sophisticated jets flying at low altitude. Analysts say it could mark a breakthrough in Beijing’s military modernization.
