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
- Tariff Risk Drives Another Round of Asia Forecast Downgrades — Southeast Asia will be hit hardest by worsening trade conditions and persistent uncertainty, the ADB warned.
The Financial Times
- Amazon shuts down Shanghai AI research lab — US ecommerce group follows IBM and Microsoft in China pullback amid geopolitical tensions.
- China hits out at EU ahead of tough talks in shadow of trade and Ukraine war — Ursula von der Leyen and António Costa prepare to meet Xi Jinping in Beijing amid geopolitical turmoil.
- McKinsey bars China practice from generative AI work amid geopolitical tensions — Consulting firm’s move follows scrutiny from Washington over US companies’ involvement in sensitive Chinese sectors.
- Opinion: The growing Brics divide between carbon nations and electrostates — Energy systems can shape political institutions and make some nations more vulnerable to trade wars than others. By Benjamin H Bradlow.
- Opinion: DeepSeek is decoding Chinese destiny — The AI company’s ability to offer traditional fortune telling is proving popular as the economy slows. By Joe Leahy.
The New York Times
- As Trump Quits UNESCO, China Expands Influence — Washington had been a buffer against China’s efforts to use UNESCO to influence education, historical designations and even artificial intelligence.
- Chinese Hackers Are Exploiting Flaws in Widely Used Software, Microsoft Says — The company said state-backed hacking groups were breaching systems through flaws in SharePoint, which is used by the U.S. government and companies around the world.
Caixin
- Lenovo Capital Backs AI Agents in Quest for China’s Next Tech Titans — Chief investment officer Song Chunyu said he is dedicating 80% of his energy to finding promising AI agent startups.
- JD.com Splashes Cash on Robotics AI Startups — E-commerce titan is playing catchup after coming late to the much-hyped embodied AI field.
- Sinovac’s Covid Fortune Fuels Bitter Boardroom Battle — The latest twist in the long-running drama came on July 8, when a special shareholder meeting requisitioned by a group of dissident shareholders to install a new board descended into chaos.
South China Morning Post
- Has the Qianfan satellite network – China’s Starlink rival – run into trouble? — A shortage of rockets and competition for launch resources appear to be putting the mega-constellation’s targets in doubt.
- Washington China hawks slam US approval of H20 chip sales — Critics question whether move was part of June trade deal as claimed.
- Opinion: Why I am hopeful about US-China ties despite Trump’s tariff tangle — Trump’s contradictions and erratic behaviour complicate US-China relations, but there are ways to revive the bilateral economic relationship. By Sun Chenghao.
Nikkei Asia
- China magnet exports rise but controls still causing headaches — Flood of rare earth export applications has created ‘nightmare’ backlogs.
- China’s share of Asia-US sea transport falls amid Trump tariffs — Vietnam, Singapore boost presence as exporters seek to avoid duties.
- GM continues imports from South Korea despite Trump tariffs — US carmaker says China restructuring ‘on track’ as rivals struggle.
Bloomberg
- US Tariffs Are Changing Europe’s Approach to Chinese Investment — China is pivoting to higher-value investments in Hungary, Slovakia and other nations within its growing orbit.
- Trump NATO Envoy Warns China Over ‘ Subsidizing ’ Russia’s War — China needed to be “ called out for their subsidizing” of Russia’s war in Ukraine as the Trump administration ratchets up its threat of tariffs if Moscow does not agree to a peace deal.
- IMF Warns of Global Imbalances That Trump’s Tariffs Won’t Fix — The International Monetary Fund said imbalances in the global economy have increased, driven principally by domestic policies in the US and China that tariffs will do little to address.
Reuters
- Japan launches anti-dumping probe into stainless steel sheets from China, Taiwan — The move follows a petition filed on May 12 by Nippon Steel and other domestic manufacturers, who claim they have been forced to lower prices due to weakening domestic demand as buyers have shifted to cheaper imports.
- Trump to outline AI priorities amid tech battle with China — The plan calls for the export of U.S. AI technology abroad and a crackdown on state laws deemed too restrictive to let it flourish, a marked departure from former President Joe Biden’s “high fence” approach that limited global access to coveted AI chips.
- China’s yuan undervaluation fuels euro zone trade deficit, German study shows — The yuan-euro exchange rate has remained stable in recent years despite significant shifts in cost relations between Europe and China, suggesting likely currency manipulation by the central bank.
Other Publications
- Foreign Policy: Europe and China’s Tepid Anniversary — When European and Chinese leaders meet in Beijing, relations will be strained.
- Rest of World: BYD distracted the world while Chinese EV peers staged a coup — Even as BYD grabs headlines, a pack of Chinese automakers is quietly conquering overseas markets with aggressive pricing and localization.
