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 and Xi Want to Stabilize U.S.-China Ties. Now Comes the Hard Part. — The president’s tightly choreographed visit to Beijing masked big differences between U.S. and China.
- Chip Stocks Slide After U.S.-China Summit Ends Without Major Tech Deals — Global semiconductor stocks skidded after a summit between President Trump and Chinese leader Xi Jinping concluded without major chip deals or a breakthrough on Nvidia’s sales to the country.
- Five Takeaways From the Trump-Xi Summit — Both sides want to stabilize U.S.-China relations, but disagreements remain.
- See the Big Moments and Key People on Trump’s Second State Visit to China — The summit projected an air of friendship between the governments and business communities of two rival superpowers.
- Stellantis, Dongfeng Ink $1.17 Billion Deal to Make EVs in China — Stellantis is partnering Dongfeng Group to produce electric vehicles under the Peugeot and Jeep brands in China.
- Beijing’s ‘Industrial Policy of Everything’ Leaves Rest of the World in the Dust — Government support encompasses the old, the new, goods and services, micro and macro. Nothing Trump elicits in China will change this.
- Opinion: About That Taiwan ‘Thucydides Trap’ — Xi Jinping likes the Greek analogy because he thinks China is the rising power and the U.S. is in decline. He might think twice about that. By The Editorial Board.
The Financial Times
- Schroders plans to exit China mutual funds business after just three years — London-listed group set to be taken over by U.S.-headquartered asset manager Nuveen in £10bn deal.
- Boeing shares slide as Trump’s China summit deals disappoint — U.S. president says Beijing will expand agriculture and oil purchases.
- China and U.S. ‘feel very similar about Iran’, Trump says — Chinese leader Xi Jinping says ‘milestone’ summit has forged a ‘new bilateral relationship’.
- China to produce Jeep and Peugeot cars under €1bn Dongfeng deal — Stellantis is latest foreign automaker announcing plans to export Chinese-made EVs.
- Fallout from China housing slowdown grinds on in offshore courts — Bondholders might balk at the recoveries offered so far, but any remedies involve complex negotiations.
- U.S.-China tensions add to growing complexity of disputes work — Lawyers are adapting by developing tech expertise and fighting cases in several jurisdictions.
- Trump’s allies pin hopes on Xi to defuse Strait of Hormuz crisis — Summit comes as oil supply shock has triggered worsening energy crisis and threatens Republicans’ midterm prospects.
- Opinion: Trump should go for ‘no deal’ in Beijing — The U.S. is ill prepared to make decisions that will shape geopolitics for the foreseeable future. By Oren Cass.
The New York Times
- Spies, Sanctions, Cyberattacks: China and the U.S. Clash Behind the Scenes — After months of avoiding confrontation, the Trump administration has taken recent steps to call out China on Iran, artificial intelligence and spying.
- China Starting to Fulfill ‘Promises,’ U.S. Trade Representative Says — As President Trump and China’s leader, Xi Jinping, meet, the United States said China has promised to expand its purchases of farm goods and airplanes.
- Sanctioned by China, Rubio Enjoys a Trip to Beijing — There has been rampant speculation online about whether the Chinese government changed the transliteration of Marco Rubio’s name to overlook sanctions. But that theory is wrong.
- Trump Might Welcome Chinese Investment, but America Is Wary — A pledge for more Chinese investment could face backlash given longstanding national security concerns in the United States.
- Nvidia’s Future in China Remains Unclear After Trump-Xi Summit — The standoff comes as Chinese firms increasingly turn to domestic chipmakers like Huawei, in a drive to reduce China’s dependence on Western technologies.
- ‘Quite Brutal,’ ‘Not Friendly’: What People in China Say of Trump — Residents in four Chinese cities described a mixture of amusement and anger, blaming U.S. tensions for a slowing economy and rising fuel prices.
- Trump Announces Boeing Jet Order From China. Beijing Stays Silent. — The deal, if it materializes, would be a major win for Boeing, which has lost ground to Airbus in one of the world’s largest aviation markets.
- U.S. and China Will Start Discussing A.I. Safety, Bessent Says — Treasury Secretary Scott Bessent did not say when these talks would happen. There are fears in the United States and China about the threats from A.I., but neither side is willing to slow down its development.
Caixin
- China Establishes New Agency for the Low-Altitude Economy — China’s civil aviation regulator has established a dedicated division to oversee the safety and development of the country’s low-altitude airspace as Beijing steps up efforts to foster the low-altitude economy.
- U.K. Moves to Fully Nationalize Chinese-Owned British Steel — The U.K. government introduced a bill to parliament on Thursday that would allow it to nationalize British Steel Ltd., prompting China’s commerce ministry to urge London to protect the legitimate rights of the company’s Chinese owner.
- Shanghai Tweaks Medical Insurance to Give Patients More Drug Choices — The city’s shift away from proportional reimbursement requires patients to pay the difference for expensive original drugs, potentially altering the landscape of the pharmaceutical market on the Chinese mainland.
South China Morning Post
- Top Singapore-based physicist relocates to China after superconductor breakthrough — Prominent young professor becomes doctoral supervisor at leading Chinese research university amid high-level recruitment drive.
- Russia’s Putin is heading to China next week, days after historic Xi-Trump summit — The Russian leader’s one-day visit, tipped for May 20, is unlikely to feature the pomp and elaborate details of the U.S. president’s trip.
- From Confucius to Tsinghua: Trump invokes history to anchor China-U.S. future— Both leaders used carefully crafted speeches at Thursday night’s state banquet to lean into the two countries’ deep and historical ties.
Nikkei Asia
- China spy case in Norway exposes weaknesses in Europe’s Arctic front — Satellite flaws, booming tourism stretch Oslo, as High North grows in importance.
- How a year of China’s rare-earth controls is reshaping supply chains — Users adapt as further supply uncertainty hinges on Xi-Trump summit outcome.
- Trump’s Latin American domino play blocks out China — U.S. pursuit of Western Hemisphere dominance undermines decade-plus of Belt and Road.
Bloomberg
- U.S. Needs Another Decade to Fix $1.2 Trillion Rare Earth Crisis — Despite new investments in mining and refining around the world, China is positioned to keep its grip on the rare earth elements that matter most.
- Why Taiwan Is the Hottest Issue Between the U.S. and China — Although China’s Communist Party has never ruled Taiwan, it views control over the island as essential to completing its goal of reversing China’s “century of humiliation” by colonial powers.
- Kishore Mahbubani: ‘China Can No Longer Be Stopped’ — Trump’s Beijing visit underscores an East Asia specialist’s warning: Washington lacks a coherent long-term strategy on China.
Reuters
- America’s most powerful CEOs don’t have much to show from their China trip so far — Some executives plan to remain in China to continue meetings with officials after Trump’s departure and more deal announcements could be revealed in the coming days.
Other Publications
- The Guardian: Photo of US-China delegation criticized over absence of women: ‘masculine, militarized and exclusionary’ — ‘Backward’ photo panned for display of patriarchy, signaling that ‘women’s voices don’t matter in shaping global order’.
- CFR: Why Are More U.S. Allies Exploring Ties with China? — As the United States becomes a less reliable trade and security partner, several U.S. allies are seeking to keep an open door with China—but experts caution these moves are neither sustainable nor realistic.
- The Atlantic: The Hippocratic Summit — The major goal of Trump and Xi’s meeting is to do no harm.
