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 Financial Times
- Chinese universities gain ground on UK and US in global rankings — Britain and US retain grip on top 10, with MIT first and Imperial College London second.
- Opinion: The risks of borrowing from China’s economic playbook — Western governments must ensure industrial policy does not turn into unchecked state expansion. By the Editorial Board.
- Opinion: China’s tribute system and the new world order — Exercising power without resorting to war could be Beijing’s ultimate show of strength. By Ray Dalio.
The New York Times
- Taiwan’s President Says He Trusts Trump to Approve Arms Sales — President Lai Ching-te made the hopeful remarks after Mr. Trump suggested that he could use a proposed $14 billion arms package for Taiwan as leverage with Beijing.
Caixin
- Chinese Offshore Wealth Shifts to Singapore, Middle East — Chinese households are reshaping their global portfolios, moving beyond a traditional reliance on Hong Kong and the U.S.
- Slower Credit Growth May Be China’s ‘New Normal,’ PBOC Chief Says — The remarks contextualize recent weak credit demand, which saw new yuan loans contract in April.
- BMW Cuts 2026 Profit Forecast as China Slump Deepens — BMW Group has lowered its 2026 earnings forecast, warning of a significant drop in profit.
South China Morning Post
- Trump likes Canada’s Chinese EV deal, Carney says after chat caught on hot mic — The arrangement allows a capped number of electric vehicles from China to be imported at a low-tariff rate.
- ‘Climate change in trade’: battle lines drawn on Europe’s new China strategy — EU member states poised to confront internal divisions and launch aggressive trade defences against systemic threat posed by Beijing.
- Alarm raised over China’s threat to older Americans through drug supply chains — US congressional hearing also highlights financial scams and data privacy as national security issues affecting senior citizens.
Nikkei Asia
- Taiwan’s refusal to accept China’s rule isn’t a ‘provocation,’ Lai says — President hopes for US arms approval ‘soon,’ says homegrown defense ‘equally important’.
- China automakers leap forward in internal combustion engine tech — Japan’s lead in arena eroded by highly fuel-efficient motors that use AI.
- Analysis: 73-year-old Xi Jinping resists generational shift — Septuagenarian right-hand man’s new role sparks speculation.
Bloomberg
- G7 Aims to See China Supply No More Than 60% of Rare Earths — The G7 leaders will aim to further reduce their dependencies with a view to limiting exposure to 50% as soon as possible beyond 2030.
- China’s $300 Billion Pile of Bad Consumer Debt Threatens Economy — As many as 100 million Chinese consumers are struggling to service their personal debt, fueling a largely hidden crisis that threatens Beijing’s efforts to revive the world’s second-largest economy.
- Microsoft Makes Big AI Inroads in China by Selling OpenAI Models — ByteDance Ltd. has generally been Microsoft’s biggest AI customer in recent years, largely using OpenAI models, and is on track to spend more than $1 billion a year on Microsoft AI and cloud services.
Reuters
- F1 sponsorship could give BYD lower-risk route to global recognition — Electric vehicle giant BYD is interested in getting involved with the Formula One motor racing circuit as it aims to boost its brand outside its home market of China.
- China’s African tariff removals, trade surge spur yuan adoption — Tariff cuts on imports from 53 countries in May expected to increase flows and yuan-denominated settlements.
- Taiwan criticises China’s ‘irrelevant’ World Cup viewing offer — Taiwan’s government has criticised an “irrelevant” offer by China for Taiwanese fans to use Chinese websites or even visit the country to watch the World Cup.
Other Publications
- ProPublica: Before SpaceX IPO, Investors in China Secretly Acquired Stakes — One previously unreported SpaceX investor has ties to Chinese military contractors. The information was revealed only after ProPublica went to court to obtain it.
- Foreign Affairs: China Is Pulling Up the Ladder Behind It — How Beijing’s Export Strategy Will Keep Poor Countries Poor.
- Rest of World: Chile turned to China for an undersea cable. The U.S. said no — A proposed undersea cable from Chile to Hong Kong promised to connect South America directly to Asia. Instead, it became a test of how far the U.S. will go to curb Chinese telecom ambitions.
- The Guardian: Inspired by Ukraine, and worried by China: Taiwan teaches its citizens how to fly drones — Ordinary Taiwanese, young and old, are joining courses to learn how to fly drones amid looming China military threat.
