China News - 6 October
International
China to double size of space station, touts alternative to NASA-led ISS. Although Tiangong is still just 40% of the mass of the ISS, the ISS is expected to be decommissioned after 2030. This is about the same time China has said it expects to become a “major space power”. Ryan Woo. Reuters, 5 October
How China is fighting in the grey zone against Taiwan. Observers compare China’s tactics with Taiwan to grey zone warfare. They are aimed at weakening an adversary over a prolonged period of time. Joel Guinto. BBC News, 5 October
At the Tibet forum, China’s Wang Yi calls for territorial integrity. China’s foreign minister said “we must adhere to mutual respect and trust, jointly maintain regional unity, and respect each other’s sovereignty and territorial integrity” amid tensions with India over a disputed border in the Himalayas. Ryan Woo. Reuters, 5 October
Alibaba accused of “possible espionage” at European hub. The Belgian security service has announced that the Chinese group’s logistic arm in Liege is under scrutiny over improper use of sensitive data. Laura Dubois and Qianer Liu. Financial Times, 5 October
Economy & Tech
WTO cuts world trade forecasts as manufacturing slowdown bites. The WTO has halved its estimates for export growth around the world this year as manufacturing industries are hit by a slowdown as well as rising geopolitical tensions. Ngozi Okonjo-Iweala said it was “a cause for concern, because of the adverse implications for the living standards of people around the world”. Valentina Romei. Financial Times, 5 October
US banks raise China GDP forecasts. Upgrades return outlook to 5% for 2023, although many still see property as a major drag on growth. Tom Hancock. Bloomberg, 5 October
China jitters turn private equity investors towards India and Indonesia. Analysts warn investors that they face a steep learning curve and a potentially limited choice of exit routes in many of these south-east Asian markets. Echo Wong. Financial Times, 5 October
Chinese developer Sunac makes debt restructuring breakthrough. The court approval of a $10bn plan with creditors brings some relief to China’s crisis-hit property sector. Chan Ho-him and Thomas Hale. Financial Times, 5 October
Opinion & long-reads
Why Russian and Chinese spy scandals are a threat to us all. The risk for travellers in Moscow and Beijing will only increase as Western governments call out foreign spies. Elisabeth Braw. Financial Times, 5 October
China lithium: falling prices do not mean falling margins. Although lithium prices have slumped, the long-term demand for batteries to power EVs is undeniable and should deter panic selling. Financial Times, 4 October
Evergrande, the “runaway” developer that could become a wrecking ball for China’s economy. The saga of one of China’s largest development firms has escalated from a financial crisis to a potentially criminal one, and has been a great concern for many globally. Helen Davidson and Amy Hawkins. The Guardian, 5 October
China’s top art investor amassed a big collection. Now he’s selling. Liu Yiqian, a top art collector and a former Shanghai taxi driver, is selling a Modigliani. Keith Bradsher. The New York Times, 4 October