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 Calls for New Nuclear Pact With Russia as Previous Treaty Ends — Secretary of State Rubio says future arms constraints should include China, which has declined to participate in nuclear-weapons talks.
The Financial Times
- The Chinese gold market embracing volatility — and three more years of Trump — Mood in the Shuibei district remains defiant despite steep losses.
- Puma’s new Chinese backer will give Nike a run for its money — Anta Sports is about to become Puma’s largest shareholder.
The New York Times
- Opinion: America’s Rare-Earths Solution Is Hiding in Plain Sight — America could go a long way toward meeting its growing demand for such minerals by harvesting those readily available sources. By Julie Michelle Klinger.
- Rethinking Shakespeare in Shanghai — A recent production of “Othello” proves that small creative flowers can grow between the dreary slabs of cultural concrete laid by the Communist Party.
Caixin
- Meituan to Buy Dingdong’s China Business for $717 Million — Meituan has agreed to acquire the Chinese business of rival Dingdong for an initial $717 million in a strategic move to consolidate China’s competitive fresh grocery e-commerce market.
- China’s New Solar Power Capacity to Drop for First Time in Seven Years — The industry confronts severe overcapacity and shifts toward market-oriented electricity pricing after a record installation surge last year.
- China-Built Railway Opens to Unlock Giant Algerian Iron Ore Mine — A Chinese-built heavy-haul railway has opened in Algeria, a strategic project designed to unlock one of the world’s largest iron ore mines.
- Alibaba Tech Tapped to Provide Olympic Athletes With AI Assistants — The International Olympic Committee (IOC) has adopted Alibaba’s technology to power a large language model (LLM) which will assist with broadcasting and public services.
South China Morning Post
- China rallies neighbours against Japan in rare meeting. Will it work? — Beijing summons Southeast Asian envoys and invokes Japan’s WWII history, but campaign to isolate Tokyo gains little traction.
- Stung by Trump’s policies, German multinationals cautiously pivot towards China — German firms are keen to invest more in China as they shy away from the US, but they still face issues in the Chinese market, business group says.
- Trump’s South America threats fizzle as China’s trade surges, powered by Peru port — Beijing’s hunger for minerals and raw materials is pushing trade in the region to record levels, even after incidents in Panama and Venezuela.
- Trump balks at nuclear limit extension, calls for new US-China-Russia deal — For first time in half a century, the world is without a legally binding agreement to control nuclear weapons, as New Start accord expires.
Nikkei Asia
- Cuba scrambles to build Asian ties beyond China under US pressure — Rare Tokyo investment seminar held amid warnings of humanitarian ‘collapse’.
- Shein bets on $500m China distribution hub to fight headwinds overseas — E-commerce giant seeks to maintain low prices as US and EU impose tariffs.
Bloomberg
- Opinion: Four Fatal Problems in the New US Approach to China — If the US has entered a moment of relative weakness, because of China’s export controls and relentless military buildup, better to speak softly while building a bigger stick. By Hal Brands.
- BYD’s $60 Billion Wipeout Points to Deeper Turmoil for China EVs — The slump in BYD’s shares has shaved off more than $60 billion in market value since May and has reverberated across EV peers, with traders bracing for weaker EV growth this year.
- Australia’s Falling China Trade Surplus Rings Economic Alarm — The US-China competition also creates risks for Prime Minister Anthony Albanese, as he balances his country’s biggest customer in President Xi Jinping’s China and its top security relationship with Washington.
- Nio Jumps After Chinese EV Maker Signals First Quarterly Profit — The company attributed the milestone to a “favorable product mix” and sustained growth in sales volume, as well as aggressive cost-optimization efforts.
Reuters
- Intel, AMD notify customers in China of lengthy waits for CPUs — Intel server products in China now cost ‘10% more generally’, source says.
- Tesla is training its AI technology in China, local media reports — Tesla is operating an artificial intelligence training centre in China focusing on local application and assisted driving.
- Taiwan teams with US firm Kratos to build attack drones to counter China — U.S.-based Kratos Defense and Taiwan’s military have successfully tested a new jet-powered attack drone.
- China open to talks with Lithuania after apparent change in Taiwan stance — China said on Friday it was open to dialogue with Lithuania after the Baltic nation’s prime minister described as a “mistake” its 2021 decision to let Taiwan set up a de facto embassy.
- China flexes its muscle at Singapore Airshow as US isolated — Beijing sharpens its bid for influence in Southeast Asia.
Other Publications
- The Washington Post: Young people in China have a new alternative to marriage and babies: AI pets — Cute fluffy AI-powered “pets” are providing emotional companionship to an increasing number of lonely, tired Chinese — and a digital ear for tech giants.
- China-US Focus: Starmer’s China Visit: One-Off or Long-Term Policy? — The durability of any China-UK rapprochement will depend not on diplomatic symbolism but on whether London is prepared to pursue pragmatic cooperation based on its own national interests.
- The Verge: Can China’s No. 2 automaker make it in America? — Geely may build cars in the US, but their software still has to follow cybersecurity restrictions.
