China News - 10 August
International
China and Russia have achieved naval success off Alaska- where the US Navy has no bases. The joint operation sent a clear message, “we can operate together, far from home and with impunity”. Tom Sharpe. Telegraph, 8 August
Russian companies move legal battles to Hong Kong courts. Although Russian companies have traditionally used London’s commercial courts, following UK, US and EU sanctions imposed over the illegal invasion of Ukraine, many western law firms have dropped Russian clients. Now, they are turning to Hong Kong for dispute arbitration services. Pak Yiu and Echo Wong. Financial Times, 8 August
China and Russia submit technical queries to Japan on Fukushima water discharge. China’s foreign ministry released a statement on Wednesday stating that Japan should immediately halt the discharge plan and discuss all possible safe disposal options. Liz Lee. Reuters, 9 August
TED talks cross free speech “red line” in Xi Jinping’s China. TED talks used to spread ideas to Chinese people, but an event planned for this Sunday in Guangzhou has been cancelled after police said coordinators had breached restrictions on foreign non-governmental organisations. They seem to be the latest high profile victim of intensifying constraints on free speech in China. Edward White, Stephen Foley and Gloria Li. Financial Times, 9 August
British Museum attack: Chinese tourist stabbed in the arm. A man has been arrested on suspicion of GBH, but the incident is being treated as an isolated attack and not terror related. Peter Chappell and David Woode. TheTimes, 9 August
Economy & Tech
China learns the D-word. Just days after China had banned many institutions from mentioning the possibility of deflation, many are saying that China is facing a Japan-style “balance sheet recession”, or a prolonged period of deflationary deleveraging. Robin Wigglesworth. Financial Times, 9 August
Chinese economy falls into deflation as recovery stumbles. Consumer prices have fallen into deflation for the first time since 2021. The consumer price index fell 0.3% year on year in July, and the price of goods leaving factories was down 4.4%. This is a clear indication of the challenges facing policymakers to revive consumption. Thomas Hale and Andy Lin. Financial Times, 9 August
More Chinese graduates return to hometowns in depressed economy- state media. With the backdrop of a slowing Chinese economy, almost half of Chinese undergraduates have returned to their hometown amid a sagging job market. Ella Cao and Ryan Woo. Reuters, 9 August
How the end of “Made in China” is crippling the world’s second largest economy. “Lie flat”, or tang ping, has become a widespread term among young professionals to resist the pressure of Xi Jinping's rat race towards the “Chinese dream”. They have lost their optimism in the Chinese economy following a slow post-Covid recovery. Melissa Lawford. Telegraph, 9 August
How China cornered the market for clean tech. China is the lowest cost and biggest supplier of many of the key materials and building blocks for clean technologies. Edward White. Financial Times, 9 August
China set to limit facial recognition technology after backlash. Public resistance has grown to cameras, which are even installed in public lavatories. The Cyberspace Administration of China has drafted rules suggesting that hotel rooms, gyms and changing rooms should not have personal identification cameras. William Yang. TheTimes, 8 August
Opinion & long-reads
Chinese protests erupt after release of flood water destroys homes. Nearly a million people have been relocated from the Hebei province after record rainfall. Many people were transferred to shelters, unable to take any belongings. Videos are showing people shouting “give back my home” and demanding to be paid. Chinese police are beating and pepper spraying these protestors. Jenny Pan. Telegraph, 8 August
Climate politics has entered a new phase. How governments manage the energy transition will ultimately define them. 2023 is already exposing leaders and pressing governments to make extreme energy transitions. Pilita Clark. Financial Times, 9 August
Have scientists discovered a new species of human? A skull has been discovered in China of a child from 300,000 years ago. Unlike similar remains from around the world, this skull “did not possess a true chin”. This makes the skull more Denisovan, an extinct species of ancient humans in Asia that split from the Neanderthals more than 400,000 years ago. Sam Tonkin. Daily Mail Online, 8 August