China News - 20 November
International
David Cameron’s backing of Beijing-funded development raises questions over business dealings. The new Foreign Secretary’s promotion of the China-backed development in Sri Lanka has raised concerns over his future dealings with China in his new role. Jon Ungoed-Thomas, Hannah Ellis-Petersen, Amy Hawkins and Aanya Wipulasena. The Guardian, 19 November
Ministers from Arab and Muslim countries to visit China in bid to end Gaza war. Prince Faisal said the tour will be the first step in carrying out decisions reached at a joint Arab and Islamic summit held in Riyadh this month. Nikkei Asia, 19 November
Philippines’ Marcos meets China’s Xi to find ways to reduce South China Sea tensions. President Ferdinand Marcos Jr met with Xi Jinping to discuss ways to reduce tensions in the South China Sea. Neil Jerome Morales. Reuters, 20 November
Australia criticises China for “unsafe, unprofessional” naval interaction. An interaction between a Chinese warship and an Australian navy vessel left some Australian divers injured. Sam McKeith. Reuters, 18 November
Chinese navy sonar blasts Aussie sailors; fallout threatens Australia’s pro-China government. Rather than deal directly with the crisis, the government buried the news, leaving Albanese looking dangerously weak and out of touch. Craig Hooper. Forbes, 18 November
Japanese troops drill on island seen as vulnerable to China. On Sunday, Japanese marines stormed an island beach at the edge of the East China Sea in a simulated attack to dislodge invaders from the territory that Tokyo worries is vulnerable to attack from China. Tim Kelly. Reuters, 19 November
Taiwan reports increased Chinese military drills nearby. Taiwan has reported renewed Chinese military activity including 9 aircraft crossing the sensitive median line of the Taiwan Strait and warships carrying out “combat readiness patrols”. The Guardian, 19 November
Economy & Tech
China-US fentanyl agreement restarts stalled cooperative fight against deadly drug. In exchange, the Biden administration agreed to lift sanctions on China’s Physical Evidence Identification Centre of the Ministry of Public Security and the National Drug Laboratory. Zhang Legu. voanews, 18 November
Xi Jinping warns top officials to contain political risks to avoid China’s economy and society being hit by “butterfly effect”. “Economic and social risks will become political risks” as senior officials are ordered to address party threats early. Yuanyue Dang. South China Morning Post, 19 November
Cheap yuan catapults China to second-biggest trade funding currency. Global companies are making a beeline for China’s debt markets, issuing record amounts of yuan-denominated bonds and borrowing heavily from mainland banks. Samuel Shen and Rae Wee. Reuters, 17 November
Opinion & long-reads
A tentative reset between Washington and Beijing. Despite continued mild distrust, “Planet Earth is big enough for the two counties to succeed” as the summit has shown how both sides have an interest in trying to calm tensions. Financial Times, 16 November
China’s rise is reversing. Over the last two years, China’s share of global GDP has dropped the most since the Mao era. Ruchir Sharma. Financial Times, 19 November