China News - 14 November 2022
International
G20
Biden, Xi prepare to meet ahead of G20 summit. US President Joe Biden and his Chinese counterpart Xi Jinping will meet on the sidelines of the annual G20 summit in Bali today, their first in-person meeting since Biden was elected. The two leaders are expected to discuss Ukraine, North Korea's nuclear ambitions and red lines that must not be crossed in dealing with Taiwan. A Chinese official told the Financial Times that “Putin didn’t tell Xi the truth” about Ukraine war plans in their February meeting, catching the Chinese leader off-guard. Reuters, The Telegraph, 14 November
Chinese Premier Li Keqiang breaks ice with Biden, Albanese, Kishida. The Australian Prime Minister’s office confirmed that the two leaders had a brief exchange at the East Asia summit in Cambodia, setting up the potential for Albanese to meet the Xi Jinping at the G20 summit. Japanese Prime Minister Kishida told Li he hoped the two countries could strive toward building a "constructive and stable" relationship. The Guardian, Reuters, 12 November
Albanese and Biden discuss climate action and AUKUS pact ahead of G20 summit. The Observer, 13 November
Sunak to set out global economic plan at G20 summit. Sky News, 13 November
US doubles down on ASEAN aid to counter China. Washington and ASEAN elevated their relations to a "comprehensive strategic partnership," a status Beijing secured last year, expanding the scope of cooperation in areas such as climate change mitigation and connectivity. Meanwhile, the Chinese foreign ministry confirmed the country is helping Cambodia upgrade its Ream Naval Base. Nikkei Asia, 13 November
US tries to enlist allies in assault on China’s chip industry. After the US targeted China’s chip industry with unilateral export controls, a commerce department official said America hoped to strike a deal with allies on more controls in “the near term”. Alan Estevez, under-secretary of commerce for industry and security, cited talks with the Netherlands and Japan on the imposition of restrictions on the export of chipmaking tools to China. FT, Bloomberg, 14 November
Germany must 'be more careful' with China, says Economy Minister. Speaking on the sidelines of a conference exploring ways to diversify German business investments in Asia, Robert Habeck said that Russia's invasion of Ukraine had shown Berlin the dangers of excessive reliance on single trading partners. DW, 13 November
Ireland doesn’t want to shut the door to China despite growing strains, says Foreign Minister. SCMP, 12 November
Hong Kong calls for probe after rugby match protest song. BBC, 14 November
Economy & tech
China plans sweeping rescue policies to avert property crisis. The People’s Bank of China and the China Banking and Insurance Regulatory Commission jointly issued a notice to financial institutions laying out plans to ensure the “stable and healthy development” of the property sector, according to Bloomberg sources. The measures represent the most sweeping rescue package to bail out a real estate market mired in a record slowdown and deepening liquidity crunch. Bloomberg, 13 November
BlackRock shelves China bond ETF. The world’s largest asset manager has put off the launch of an exchange-traded fund that invests in Chinese bonds, amid growing tensions between Washington and Beijing and a reversal in the gap between Chinese and US yields. FT, 12 November
China’s pro-business culture is in doubt, says investment trust Scottish Mortgage. The Times, 12 November
Chinese battery makers are setting up in Europe. The China Project, 11 November
China focus
Chinese cities, including Beijing, report record Coivd cases. Several major cities in China reported record Covid-19 infections, putting authorities under more pressure to quell outbreaks quickly while also trying to reduce the impact on people's lives and on economic activity. China has slightly relaxed some of its Covid restrictions, with quarantine for close contacts to be cut from seven days in a state facility to five days and three days at home. BBC, 14 November
Xi Jinping mobilising the masses to control themselves. Xi praises the Fengqiao model, which he has redefined as a way of empowering people. He talks of qunfang qunzhi, or “mass prevention and mass governance”. In reality he is using people to supplement the Communist Party’s other tools of control. The Economist, 11 November
Opinion & editorial
What Biden and Xi can agree on. The leaders of the US and China are meeting amid high tension, but both have reason to lower the temperature. Kevin Rudd. The Atlantic, 13 November
Xi Jinping amends the Chinese Dream. As the economy slows, the social contract between party and people changes. David Rennie. The Economist, 11 November
The US wants to play in China's backyard. Jonathan Head. BBC, 11 November
Long reads
What will Rishi Sunak’s foreign policy look like? Politico, 11 November
Why India overtaking China as most populous country is more than symbolic. Julian Borger. The Guardian, 14 November
The US is reducing its reliance on China for green technology. Could that slow progress on climate change? Lili Pike. GRID, 12 November
Friends in High Places: What we know - and what we don't - after Xi's clean sweep. Ruby Osman and Edward Knight. Tony Blair Institute for Global Change, 11 November