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
- Four Things to Know About Beijing’s Rare-Earths Bombshell — China threatens to withhold indispensable tech materials ahead of Trump-Xi summit.
- GM’s Rare-Earth Gamble Pays Off as China Tightens Magnet Exports — Automaker has quietly seeded the revival of the domestic magnet industry, locking down supply amid trade tensions.
- Trump to Hit China With Additional 100% Tariff, Citing Restrictions on Rare-Earth Elements — President also says he will impose new export controls on critical software in response to Beijing’s moves.
- Trump’s Fresh Tariff Assault Threatens China’s Fragile Economy — Beijing was already seeing economic momentum slow before announcement of latest 100% tariff increase; some bet measures won’t last.
- China Detains Prominent Underground Pastor, Complicating Ties With U.S. — Ezra Jin has led one of China’s most vibrant church networks, spanning 40 cities; ‘They are afraid of my husband’s influence.’
- Dutch Government Takes Control of Chip Maker From Chinese Parent — In ‘highly exceptional’ move, officials take power at Nexperia from China’s Wingtech, citing risks to economic security.
- China Vanke’s Chairman Resigns — Vanke has faced severe liquidity pressure in recent years.
- China’s Exports Rise at Fastest Pace in Six Months Despite U.S. Tariffs — Imports also surprised to the upside, rising 7.4% on year in September.
The Financial Times
- Trump talks tough with China but holds out hope of truce in trade war — U.S. hardliners want a tough stance but the US president is taking a more nuanced approach to Beijing.
- Donald Trump threatens extra 100% tariff as he retaliates against China — U.S. president says measures will include export controls on software and take effect from November 1 ‘or sooner.’
- ‘The Stella show’: the executive at the heart of BYD’s global push — Stella Li is steering the Chinese carmaker through price wars at home and tariffs abroad in its pursuit of EV dominance.
- China’s Ming Yang to invest up to £1.5bn in Scottish turbine factory — Company says the project is subject to ‘final approvals’ from the UK government.
- China blames Trump and U.S. for escalating trade war — Beijing accuses Washington of imposing fresh restrictions on Chinese companies after trade talks last month.
- Chinese stocks race ahead as reforms take hold — MSCI China has surged 39% this year even as many global fund managers branded the country ‘uninvestable.’
- Dutch government takes control of Chinese-owned chipmaker Nexperia — Move by The Hague escalates frictions between western countries and Beijing over access to high-end technology.
- China exports accelerate as Xi and Trump raise stakes in trade war — Latest figures likely to give Beijing confidence as it steps up negotiations with Washington.
- How mega batteries are unlocking an energy revolution — Vast battery units are shoring up grids and extending the use of clean power.
- A bad bet on globalisation — and the new age of tech autocrats — Bill Clinton emerges as something of a prophet in a book about a gamble on free trade, while Giuliano da Empoli offers a stark warning on the coming world order.
The New York Times
- N.B.A. Head Criticizes Chinese Party Paper Over LeBron James ‘Op-Ed’ — The People’s Daily newspaper put the star player’s name on an opinion article, an example of the political perils the N.B.A. could face in China.
- How a Las Vegas Casino Mogul Helped Bring N.B.A. Games Back to China — Las Vegas Sands, owned by the Adelson family, was under pressure in Macau, with billions at stake. That created an opportunity.
- China Flexed. Trump Hit Back. So Much for the Thaw. — Beijing’s trade curbs and President Trump’s tariff threats show how quickly calm can give way to confrontation between the two largest economies.
- How China Powers Its Electric Cars and High-Speed Trains — China is building a network of ultrahigh-voltage power lines to carry solar and wind energy hundreds and even thousands of miles as few citizens dare to protest.
- Trump Threatens 100% Tariffs on Chinese Goods — The president made the threat after Beijing imposed new global restrictions on the use of rare earth minerals, which are vital supplies for U.S. makers of chips and batteries.
- Asia Markets Fall After Trump Threatens New Tariffs on China — Investors reacted to a pledge from the president on Friday to impose a “massive” new tariff on Chinese imports.
- Cars to Fighter Jets: China’s New Export Curbs May Level a Heavy Blow Worldwide — Broad restrictions could cause supply interruptions for arms makers, as well as manufacturers in the semiconductor, automotive and other sectors.
- China Detains Dozens of Members of Underground Church — The church’s pastor, Ezra Jin Mingri, turned Zion Church into one of China’s largest unofficial congregations, even as government pressure on Christianity increased.
- China Hosts a Summit on Women’s Rights, While Stifling Activism — The conference was billed as a celebration of China’s achievements in supporting women. But the government has mostly wiped out independent advocacy groups.
Caixin
- Former IPO Gatekeeper at CSRC Turns Herself In for Graft Probe — Ex-CSRC official Guo Xudong investigated after controversial private sector stint and monthlong disappearance.
- Hong Kong Court Puts Evergrande Liquidators in Charge of Founder Hui’s Fortune — Liquidators granted sweeping powers to hunt Hui Ka Yan’s assets, including offshore trusts and shell firms.
- Hollywood Sequels Poised to Boost China’s Year-End Box Office — Director James Cameron will visit China for the premiere as ‘Avatar: Fire and Ash’ joins ‘Zootopia 2’ and several award-winning domestic films in a packed year-end schedule aimed at reviving market momentum.
- Ant Group’s Takeover of Hong Kong Brokerage Clears Local Hurdle, Awaits Beijing’s Nod — Hong Kong’s securities regulator approved the deal, but the acquisition remains contingent on a review by China’s top economic planner.
- China’s Latest Rare Earth Clampdown Will Hit Foreign Defense, Chip Firms Hard — Commerce Ministry’s plan to add five more compounds to its export control list will also push the U.S. to accelerate efforts to become more self-sufficient in the production of the critical raw materials.
South China Morning Post
- China’s lesson for the U.S.: it takes more than chips to win the AI race — The AI war is increasingly waged among ‘hyperscalers’ – companies with full-stack capabilities across software, hardware and applications.
- Hong Kong firms urged to find alternatives due to U.S. tariffs, software controls — In anticipation of export curbs on critical software, technology experts warn of a ‘painful’ transition for firms reliant on U.S.-made systems.
- Leading Japanese chemist Eiichi Nakamura joins China’s Nankai University — The electron microscopy pioneer has received one of his country’s highest awards as well as scientific plaudits during a 50-year career.
Nikkei Asia
- UK, EU industries choked by ‘dirt-cheap’ Chinese exports meant for U.S. — Europe leaders move to protect steel as chemical and textile sectors call for action.
- U.S. states target Chinese tech companies over consumer protection — Attorneys general take action against networking equipment firms for alleged breaches.
- Chinese crypto scam victims face uphill battle after record $7bn seizure — Accused con artist Zhimin Qian unexpectedly pleaded guilty in UK court.
- China snubs U.S. beef in trade war win for Australia’s farmers — Combination of increasing exports and higher global prices bolster local sector.
Bloomberg
- Trump’s Dealmaking Diplomacy Grows Fragile as China Fires Back — Now, as six months ago, both economies stand once again on the brink of a trade war.
- Trump, Vance Open Door to China Deal as Trade Spat Drags On — The remarks suggest that the U.S. wants to keep up the pressure on China to reverse its most recent trade moves, while trying to reassure spooked markets that a tit-for-tat escalation isn’t inevitable.
- The World’s Chip Supply Chain Is Bracing for Fallout From China’s Rare-Earth Curbs — Businesses across the global semiconductor supply chain are bracing themselves for disruptions.
- China’s New Weapon in U.S. Trade Talks: Batteries — The U.S. is heavily reliant on Chinese batteries as it seeks to stabilize the grid and support explosive data center demand for power.
Reuters
- Trump’s reignited trade war with China clouds IMF, World Bank meetings — The annual meetings of the International Monetary Fund and World Bank are now certain to be dominated by questions of the trade war.
- China’s stocks pare losses after early sell-off on fresh U.S. trade war salvo — Analysts and fund managers believe the market downside will be limited compared to the panic-selling seen in April.
- China’s exports top forecast but fresh U.S. trade spat raises risks to outlook — Global risks have most analysts predicting that Beijing and Washington will work towards deescalation.
Other Publications
- The Telegraph: Inside Starmer’s network of advisers and their links to China — Collapse of spy case throws spotlight on Labour’s attitude towards Beijing and the advisers shaping it.
- The Economist: China tries shock-and-awe on Donald Trump — Xi Jinping’s bet that dramatic escalation is the way to win a trade war.
- The Washington Post: Behind Russia’s battlefield drone surge in Ukraine? Chinese factories. — Chinese sales of fiber-optic cable and lithium-ion batteries to Russian drone makers surged over the summer, underscoring Beijing’s “no limits” ties with Moscow.
- Rest of World: The AI dilemma: To compete with China, the U.S. needs Chinese talent — Immigration restrictions can accelerate the flight of top talent, threatening the strategy that it is better to have the brightest minds working for U.S. companies.
