News that caught our eye / The week ending May 5, 2023
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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 using tech to ‘oppress its own people,’ warns US lawmaker / May 1, 2023
Republican Representative Mark Green is proposing a bill to restrict additional tech exports to China, claiming that the CCP is using tech to rewrite China’s own history by deleting embarrassing events like the Tiananmen Square massacre. The Biden administration may propose its own version to also limit similar exports (Fox News).
Why China's man for peace in Ukraine might be the 'best possible choice' for Russia / May 1, 2023
Li Hui, former Chinese ambassador to Russia, is China’s representative to promote peace talks between Russia and Ukraine. He will travel to Europe this month, but his past support of Russia has some Ukrainians and its allies questioning his impartiality and the likelihood of a fair outcome for Ukraine (NBC News).
Mercedes CEO says cutting ties with China is 'unthinkable' / May 1, 2023
The head of Mercedes-Benz, Ola Kallenius, stated that decoupling economic ties with China is unrealistic, not just for the auto industry, but for nearly all industry in Germany. Kallenius anticipates a good sales year for Mercedes-Benz in China, which accounted for 18% of its revenue in 2022 (Automotive News Europe).
Chinese electric vehicle brands expand to global markets / May 1, 20223
A number of Chinese EV auto producers are already selling Chinese produced hybrid and EV vehicles in Europe, Australia, Asia and South America, but they plan to increase production and sales in the global market. China’s BYD Auto sold slightly more vehicles than Tesla already in 2022.
U.S. allies could play key roles in a U.S.-China war over Taiwan / May 2, 2023
In the event of an invasion of Taiwan by China, US allies in the Pacific—the Philippines, Japan, South Korea and Australia—may have important roles to play if the US steps in to defend Taiwan, roles that run from providing troops to offering logistical aid and providing supplies (Axios).
Unclear who would aid Taiwan in a war, foreign minister says / May 2, 2023
Taiwan’s Foreign Minister, Joseph Wu, stated that the people of Taiwan would defend their island in the event of a Chinese invasion, but he was unable to state with certainty that any other countries would come to their aid, nor did he say that Taiwan was asking any countries to do so (AP News).
Fang Bin: China Covid whistleblower returns home to Wuhan after jail / May 2, 2023
A “citizen-journalist” who provided videos of the early days of the Covid outbreak in Wuhan was released from a 3-year prison sentence last Sunday. Others have also been jailed for exposing Covid realities in Wuhan. But the government’s “nothing to see here” censorship is causing many to move on from that era (BBC News).
New world disorder: China, Russia bloc shores up influence as countries eager to join / May 2, 2023
BRICS, an economic bloc formed by China and Russia over 20 years ago, is recruiting new members from Africa, the Middle East and South America, including US allies. US Secretary Blinken states, however, that the US encourages other nations to trade freely. The bloc could threaten the US dollar as the global currency (Fox News).
China’s holiday spending exceeds pre-pandemic levels for the first time / May 4, 2023
“Revenge travel boom” is how one economic analyst described the large uptick in consumer spending in China over the recent “May Day” holiday, which runs from April 29 to May 3rd. This is the first holiday that Chinese citizens were able to celebrate without great fears of contracting Covid (CNN Business).
US investor interest in China cools as political tensions grow / May 3, 2023
After record-breaking US investments in Chinese companies in January, foreign investments in Chinese stock markets cooled dramatically over fears of political tension between China and the West, with some ratings dropping by half or more over the January highs. Concerns over China’s ability to sustain its economic rebound weighs on investors’ minds (Financial Times).