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
- China Arrests American Scholar-Journalist, Adding to Friction With U.S. — The Myanmar-born activist, was detained on suspicion of espionage and endangering national security.
- Everyone Loves Chinese Cars, Except the Chinese — The world is applauding the latest Chinese vehicles and sales are surging almost everywhere the cars are available. The one exception: China itself.
- The Global Economy Is Threatened Again by Trade Imbalances — The U.S. isn’t solely responsible for its own deficit. It is enabled by others’ surpluses, including Germany and China.
The Financial Times
- Chinese investors rush to open Hong Kong accounts amid Beijing crackdown — Some mainlanders fear losing access to investment products that offer higher returns.
- CLSA name to vanish after four decades in Asian brokerage — Distinctive brand to be replaced by Citic, China’s state-owned financial giant, from next year.
The New York Times
- China Has Arrested U.S. Scholar Who Studies Myanmar Politics — The arrest of U Min Zin, a graduate student at U.C. Berkeley and founder of a research group in Myanmar, took place soon after President Trump met with Xi Jinping in China.
- As Some A.I. Firms Go Public, China Is Being Shut Out — SpaceX will not raise money from investors in China and Hong Kong. Others firms, like OpenAI, may follow suit.
Caixin
- China Looks to Recycling to Ensure Resource Security Amid Green Transition — As more countries tighten control over the critical minerals needed for the green transition, China is betting that recycling can become a new source of those minerals.
- Banks Urged to Reinvent Services to Support Chinese Firms Going Global — Financial institutions should reshape their cross-border services to help with cross-border cash flow, risk control, manufacturing localization and supply chain coordination.
- UBS Sees Surge in China Family Trusts as Founders Plan Wealth Transfers — The growth reflects a shift in wealth planning among China’s first-gen entrepreneurs, who are moving beyond traditional inheritance methods and turning to trust arrangements.
South China Morning Post
- Nvidia denies Latin America role in chip smuggling as U.S.-China AI rivalry reaches Brazil — Suspicious bulk orders from unfamiliar countries are screened out, Nvidia’s regional chief says, as Chinese capital courts Brazil.
- U.S. lawmakers warn next revolution in AI race must be in America, not China — As Washington and Beijing battle for global supremacy in artificial intelligence, U.S. must establish next technological edge, Congress told.
- Beijing pushes Taiwan exchanges at Straits Forum despite tightened restrictions — Annual event meant to spur cross-strait integration takes place amid expanded ban by island’s ruling party on who can attend.
Nikkei Asia
- China’s hydrogen push outstrips Japan’s in new fuel race — Oil price surge on Iran crisis gives fresh impetus to drive to boost domestic energy supply.
- Nearly 90% of listed Chinese banks fall below profit threshold — Weak earnings threaten bad loan cleanup as property slump drags on.
- Nissan to cut vehicle development time in half using China playbook — CEO Espinosa says China is ‘setting the industry standards of the future’.
- BYD brand ambassador Wang Leehom uses fee to buy shares — Use of celebrities to promote vehicles in China part of a wider industry shift.
- Opinion: Drones hover at center of Taiwan’s defense debate — But deep divisions between ruling DPP and opposition KMT threaten to slow development. By Chris Horton.
Bloomberg
- Carney’s Middle Powers Race to Thwart U.S.-China Dominance of AI — A survey of government AI strategies in three continents shows a determination not to allow Washington and Beijing to dictate the future alone.
- Trading Tycoon ‘Brother Leaf’ Humbled by China Broker Crackdown — Long before China cracked down on his brokerage business, billionaire Leaf Li would often be found deep inside the message boards of his own app, chatting with everyday investors.
- Taiwan’s Ties With Eastern Europe Buckle Under China Pressure — The “Dumpling Alliance” burst to life during Covid, a nifty description for an informal collective of Eastern European states supporting Taiwan. A few years later, it’s hard to find a mention of it.
Reuters
- Nvidia begins Vera CPU sales pitch to Chinese clients, sources say — The outreach underscores how the world’s most valuable company is quickly pivoting to the new product to revive its rapidly declining fortunes in China.
Other Publications
- The Economist: For its own sake, China should change its growth model — It is suffering economic costs for its industrial dominance.
- Foreign Affairs: China’s Edifice Complex — Why Beijing Can’t Stop Wasteful Spending.
