China News - 18 March 2022
International
Biden and Xi to have phone call after Lavrov U-turn. Presidents Joe Biden and Xí Jìnpíng will talk today to discuss “managing the competition between our two countries as well as Russia’s war against Ukraine.” Biden will warn Chinese leader Xi that Washington could retaliate against Beijing if he acts to support Vladimir Putin’s war, according to senior American officials. The bilateral phone call was announced as German tabloid Bild reported that Sergei Lavrov, Russia's Minister of Foreign Affairs, was halfway to Beijing when his plane suddenly returned to Moscow. SupChina, The Guardian, 18 March
Ukraine crisis: cracks emerge in EU’s push for China to influence Russia. A public lobbying campaign to enlist China’s help has been spearheaded by Josep Borrell, the European Union’s top diplomat, ahead of an EU-China summit today. However, certain officials and envoys are worried about the optics of courting China when Beijing has shown no public inclination to take a lead on mediation. SCMP, LRT, 17 March
Opinion: Ukraine gives Europe a key swing vote in the US-China rivalry. Evan Medeiros. FT, 17 March
Malaysia confirms China-backed RCEP free trade pact comes into force. The Regional Comprehensive Economic Partnership (RCEP), the world’s largest free trade agreement, enters into force from today, covering nearly a third of the global population and about 30 per cent of its global gross domestic product. SCMP, 18 March
China Inc unconvinced Xi Jinping’s regulatory storm is over. Analysts and insiders have warned that vice-premier Liu He’s reassurance to investors that Beijing would support the economy and financial markets might not mean the end of the punishing regulatory overhaul and unpredictable policymaking. FT, 17 March
UK camera commissioner will cancel speech unless Hikvision answers on Xinjiang. IPVM, 17 March
China has abandoned its foreign students over covid zero. Quartz, 17 March
China focus
Is this the beginning of the end of China’s techlash? The Chinese Communist Party has softened its fiery rhetoric towards the tech industry. Analysts think the pain of the spiralling tech sell-off, which at its deepest wiped out more than $2trn in overall market value, may be becoming too much to bear even for desensitised party bosses. The Economist, 18 March
China sticks to zero-Covid strategy as millions locked down to stem resurgence. President Xi Jinping said China will "stick with" its zero-Covid strategy, keeping tens of millions of its citizens under lockdown despite a proportionately small number of infections. The Telegraph, 17 March
UK pork trade continues to struggle against global pressures. The UK pork trade continues to struggle on the main stage as issues including waning Chinese demand and oversupply within the EU persist into 2022, according to a report from AHDB. Pig World, 17 March
China property shares soar on Beijing stimulus, despite continued debt crisis. The Guardian, 17 March
Chinese tech hub Shenzhen hopes to resume production as Covid-19 situation stabilises. SCMP, 17 March
Shenzhen overtakes New York as home for billionaires. Nikkei Asia, 17 March
Opinion & editorial
China’s decisive turning point: will it side with Russia and divide the world? The world faces the possibility of a dramatic shift in the geopolitical balance of power as Beijing mulls support for Russia over the Ukraine war. Julian Borger. The Guardian, 18 March
China risks collapsing the world economy as its zero Covid strategy falls apart. Between war in Ukraine and Beijing’s shutdowns, investors don’t know what to worry about the most. Ben Wright. The Telegraph, 17 March
Omicron is changing China’s covid strategy. Beating the latest variant will require more vaccinations and less fear. Chaguan - The Economist, 18 March
More British-Chinese should begin their journey to Westminster. Alan Mak MP. Politics Home, 17 March
Long reads
Xi Jinping’s faltering foreign policy. The war in Ukraine and the perils of strongman rule. Jude Blanchette. Foreign Affairs, 16 March
The friendship between China and Russia has boundaries. The Economist, 18 March
Hong Kong migrants find UK is a world turned upside down. Bloomberg, 18 March