China News - 13 December
International
US considers missile launch notification framework with China. A senior State Department official said that Washington hopes to hold bilateral nuclear talks with Beijing in early 2024 to stabilise tense relations. Ryo Nakamura. Nikkei Asia, 11 December
Xi Jinping reinforces China’s ties to Vietnam after US push. Commercial and diplomatic ties have grown between Vietnam and China, and the country has become a hub for both Chinese and Western manufacturers. Joe Leahy and Wenjie Ding. Financial Times, 12 December
Economy & Tech
UK business in China sees 2023 as “pivotal” for investment. The British Chamber of Commerce said that China’s UK business community sees 2024 as a “pivotal year” for Beijing to address growing concerns over its flagging economy. Joe Leahy. Financial Times, 12 December
China’s cyber army is invading critical US services. According to officials, the Chinese military is ramping up its ability to disrupt key American infrastructure, including power and water plants, and communication and transportation systems. Ellen Nakashima and Joseph Menn. The Washington Post, 11 December
Fed should stress test US banks for China war risk, House panel says. According to a congressional committee, the Federal Reserve should be required to stress test US banks’ ability to “withstand a potential sudden loss of market access to China”. Demetri Sevastopulo. Financial Times, 12 December
World economy on the brink of “Cold War Two”, warns IMF deputy. Gita Gopinath said “growing fault lines” in the global economy risk “annihilating” free trade as we know it. Szu Ping Chan. Telegraph, 11 December
Children are the best investment for China, says Beijing think tank. Following a population drop, a Beijing policy institute said that children are the most worthy investment for China’s economy to help stimulate consumption and domestic demand. Farah Master. Reuters, 12 December
TikTok owner “scraping” UK news sites to train ChatGPT rival. Bytedance’s bot has reportedly been accused of targeting publishers including the Guardian and the Daily Mail. James Warrington. Telegraph, 11 December
China overtakes US as branded coffee shop capital of the world. Even amid a weakening economy, the number of branded coffee shops in China rose by almost 60% in a year to 49,691 stores. Rupert Neate. The Guardian, 12 December
Opinion & long-reads
China faces the risk of a debt-deflation loop. Beijing should stimulate consumption in China through spending on education, healthcare and public housing. Chetan Ahya. Financial Times, 12 December
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