China News - 8 February 2023
International
Joe Biden warns China over threats to US sovereignty in State of the Union address. President Joe Biden has warned that the US will protect itself if China threatens its sovereignty as he used a joint address to Congress to deliver a defiant message to Beijing. “I am committed to work with China where it can advance American interests and benefit the world,” Biden said. “Today, we’re in the strongest position in decades to compete with China or anyone else in the world.” FT, 8 February
Chinese balloon part of vast aerial surveillance program, US says. The US intelligence community has linked the Chinese spy balloon shot down on Saturday to a vast surveillance program run by the People’s Liberation Army, and US officials have begun to brief allies who have been similarly targeted. The surveillance balloon effort has reportedly collected information on military assets in countries and areas of emerging strategic interest to China including Japan, India, Vietnam, Taiwan and the Philippines. The Washington Post, 7 February
Trump-era Chinese spy balloons went undetected. BBC, 7 February
Xi Jinping hails China modernisation miracle as path for developing countries. Addressing top Communist Party cadres and government officials during a landmark post-20th Party Congress study session on Tuesday, President Xi Jinping said China had debunked “the myth that modernisation means westernisation” and hailed the Chinese model as a paradigm for developing countries to follow. SCMP, 8 February
Yesterday in Parliament the China Research Group hosted a public discussion of CSIS fellow Charles Dunst’s latest book - ‘Defeating the Dictators’:
UK MPs and peers find HSBC complicit in Hong Kong human rights abuses. HSBC is complicit in human rights abuses against Hong Kong residents by siding with Chinese authorities and denying pension payouts to those who fled the authoritarian crackdown, a report by the all-party parliamentary group (APPG) on Hong Kong concluded. The Guardian, 8 February
Australian coal shipment to arrive at Chinese port as unofficial import ban ends. Australian coal cargoes are scheduled to start arriving at Chinese ports on Wednesday, unwinding an unofficial ban imposed amid fraying bilateral relations two-and-a-half years ago. The Guardian, 8 February
Paris Club piles pressure on China to join Sri Lanka debt relief. Paris Club creditors as well as Hungary and Saudi Arabia called on the world’s second-biggest economy to give the financial assurances needed for the South Asian nation to secure a $2.9 billion bailout from the IMF. Bloomberg, 7 February
Chinese earthquake rescue team arrives in Turkey. Reuters, 8 February
Economy & tech
US-China trade hits record high despite rising tensions. Trade between the US and China hit a record high last year even as their diplomatic relations deteriorated. Imports and exports between the two countries totalled $690.6bn in 2022. The gap between exports and imports in trade with China stood at $382.9 billion, the second bilateral trade deficit highest on record. BBC, 8 February
Arm profits up 28% as chip licences reach new heights. Arm, the UK-based chip architect, has reported a 28 per cent jump in revenue as its partners shipped a record number of semiconductors designed by the company. The business, headquartered in Cambridge and owned by Japanese investment group SoftBank, creates the blueprint for microchips in products such as smartphones. The Times, 8 February
China speeds up approval of wholly foreign-owned fund managers. Caixin, 8 February
China’s voluntary carbon market a step closer to relaunch after suspension for underuse in 2017. SCMP, 8 February
Long reads & opinion
There is no choice but to engage with China. Isolating the totalitarian state along Cold War lines is neither possible nor in our interests. Richard Lloyd Parry. The Times, 7 February
The lessons from the Chinese spy-balloon. David Rennie. The Economist - Chaguan, 7 February
China’s brutal Hong Kong crackdown can’t be ignored. While Beijing's crackdown on democracy plumbs new depths, Hong Kong's PR team is working overtime to make sure you don't hear about it. Benedict Rogers. The Telegraph, 7 February
The big picture: five lessons for five years ofthe Asia Power Index. Herve Lemahieu. The Lowy Institute, 6 February