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.
Paid subscribers automatically have this list emailed directly to their inboxes every day by 10 a.m. EST. Subscribe here.
The Wall Street Journal
- Fortescue Sees China Infrastructure Projects as Boon — Fortescue views China’s investments in huge, steel-intensive infrastructure projects as reason to be optimistic about the outlook for the iron-ore market.
- Top Chinese Trade Negotiator Set to Head to U.S. as Talks Resume — Li Chenggang is expected to travel to Washington this week in a sign that the U.S. and China seek to establish regular dialogue.
- A Local Ice-Cream Chain Shows What American Brands Are Doing Wrong in China — Priced at $4 a cup, less than Häagen-Dazs, Mr. Wild Man’s made-in-the-store gelato has shot ahead of its General Mills-owned rival in the past two years.
- Opinion: China’s Nvidia Ban Is a Win for the U.S. — Beijing fears dependency on American technology. Companies will find ways around the mandates. By Aaron Ginn.
The Financial Times
- Temu resumes direct shipping from China to US after Trump truce — Low-cost ecommerce platform steps up US advertising after tentative trade deals to reduce tariffs on Chinese goods.
The New York Times
- Too Old, Too Uneducated: Aging Workers in Beijing Struggle for Work — China’s economic slowdown has fallen especially hard on older migrant workers, who often don’t have the technical skills that employers are seeking.
- German Prosecutors Charge American With Attempted Spying for China — The authorities provided few details about the case, the latest in a series of apprehensions in Germany of potential Chinese spies.
Caixin
- MMG Reports Soaring Output From Peru Copper Mine — Chinese firm says improved relations with local community have forestalled further disruptive protests.
- Pinduoduo’s Growth Slows as Competition, Tariffs Hit Temu Expansion — Temu hit hard by removal of duty-free treatment of small parcels by U.S. but ‘demand is resilient’.
- Opinion: Global Trade and Financial Systems Face a Tectonic Shift — The 25% tariffs from Trump’s first term have been largely absorbed, however, the impact of the increase to 55% tariffs remains to be seen. By Zhu Guangyao.
South China Morning Post
- Trump says he will allow 600,000 Chinese to study in the US – double the current number — US president says his administration is going to ‘get along good’ with China, and reiterates that Xi Jinping has invited him to visit China.
- Why China and the US still invest in costly crewed military systems when they have drones — While autonomous weapons have advantages, analysts say humans will remain central to decision-making and combat operations.
- China challenges US freedom of navigation operations as having ‘no legal basis’ — Beijing accuses Washington of ‘double standards’ in first report of its kind criticising its activities in South China Sea and Taiwan Strait.
- China urged to take pragmatic approach as South Korea and Japan pledge closer cooperation — Some analysts believe that efforts to boost ties, and strengthen their mutual alliance with the US, is designed to counter Beijing.
- Opinion: Beijing expands its influence in Eurasia as Trump triggers geopolitical shifts — While US policies are pushing China, Russia and India closer to each other, Eurasia is still marked by differences and contradictions. By Nikola Mikovic.
Nikkei Asia
- Chinese flock to Russian universities in afterglow of Xi-Putin ties — Close strategic, economic links send students to Russia for language, STEM studies.
- Chinese sales of heavy electric trucks surge on Beijing’s subsidies — Ratio of new energy commercial vehicles is 20% and rising.
- Evergrande’s delisting marks new chapter in China’s property slump — No recovery in sight as other big-name developers face liquidation.
Bloomberg
- Satellite Images Show China Parade Weapons Capable of US Strikes — China is preparing to showcase its latest anti-ship missiles, combat drones and nuclear-capable ballistic missiles in a parade to demonstrate its military prowess and attract buyers.
- Labubu Is Now a Global Money-Making Machine. But for How Long? — A booming ecosystem for the small, toothy toys is spawning everything from bespoke doll couture to meme coins.
- Opinion: Why Can’t Britain and the US Build? China Has an Answer — How to reckon with the rise of China is the issue of the age for all democratic countries. The engineering state moves fast and breaks things — but also people. By Matthew Brooker.
Reuters
- ‘Powerful optics’: China’s Xi to welcome Putin, Modi in grand show of solidarity — This year’s summit will be the largest since the SCO was founded in 2001, a Chinese foreign ministry official said last week, calling the bloc an “important force in building a new type of international relations”.
- Nvidia results to spotlight fallout of China-US trade war — Caught in the crossfire of Washington and Beijing’s ongoing trade war, the fate of Nvidia’s China business hangs on where the world’s two largest economies land on tariff talks and chip trade curbs.
- Intel warns US stake could hurt international sales, future grants — Sales outside the United States accounted for 76% of its revenue last year while revenue from China contributed 29% to total revenue.
Other Publications
- The Atlantic: China Is Living a Utopian Lie — The state is ever more insistent on a reality at odds with people’s experience. That’s not a good sign for progress.
- The Economist: How China became an innovation powerhouse — Its state-led model has generated impressive results. But the costs are mounting.
- BBC: Taiwan is preparing for a Chinese attack but its people don’t think war is coming soon — One of his biggest challenges, however, is convincing his own people of the urgency. While his defence drive has garnered support, it has also sparked controversy.
