News that caught our eye / The week ending October 28
NOTE: The news reports below are not in chronological order. There is often a time lag in their reaching the US and in gaining our attention. These reports reflect the opinions of a variety of news sources.
China and US pushing closer to cold war / October 27, 2022
“China and the United States have exaggerated concerns over national security, and ties between the two nations could be severed if Washington pushes for closer ties with Taiwan, according to a member of a high-level Chinese think tank” (South China Morning Post).
Profile: Xi Jinping leads China on new journey / October 25, 2022
Newly appointed Chairman Xi has vowed to lead the CPC in striving for national rejuvenation, in pursuing a better life for the people, and in addressing problems within the Party. "We shall keep in mind the Party's nature and purpose and our own mission and responsibility, and work diligently in the performance of our duty, to prove worthy of the great trust of the Party and our people," Xi said (China Daily).
Analysis: China’s new leaders are loyalists, not economists / October 23, 2022
“The new slate of China’s top leaders, packed with allies of Xi Jinping, has some economists fearing further erosion of checks on the power of a Chinese leader who has overseen the biggest expansion of state control over the economy in decades” (Wall Street Journal).
Charges against Chinese spies / October 26, 2022
The U.S. Department of Justice (DOJ) has revealed three cases against Chinese nationals, one of which accuses two suspects of attempting to obstruct a criminal investigation by bribing a source for inside information about the high-profile lawsuit against Chinese telecommunications giant Huawei (The China Project).
Xi’s China to be more open to the world / October 23, 2022
Xi Jinping, general secretary of the Communist Party of China Central Committee, said on Sunday China will open its door wider, will be steadfast in deepening reform, will push for high-quality development, and will create more opportunities for the world (China Daily).
China's Xi willing to work with United States / October 27, 2022 (Reuters)
U.S.-Listed Chinese Stocks Plunge / October 25, 2022
In the wake of Xi’s reappointment to CCP chairman, U.S.-listed Chinese stocks slumped on with internet giants and electric-vehicle (EV) makers among the hardest hit. The Nasdaq Golden Dragon China Index of 65 Chinese stocks plunged a record 14% to close at its lowest level since April 2013 (Caixin Global).
Hong Kong stocks show signs of rebound / October 25, 2022 (South China Morning Post)
Two hardliners set to be top Chinese leaders / October 24, 2022
Wang Huning and Wang Yi will serve on China’s 24-member Politburo. Wang Huning is a leading theorist of wolf warrior diplomacy. Wolf warrior diplomacy describes an attack mode in response to anyone or any nation Chinese perceives as threatening it. Wang Yi has developed the skills necessary to transform wolf warrior theory into action. The two Wangs will encourage a continuation of China's hard-nosed foreign policy (Nikkei Asia).
Other members of the Politburo bring economic experience / October 24, 2022 (CNBC).