DXY was down last night, EUR and CNY up: The Australian dollar fell across the board: Gold was firm: Oil weak: Metals in the middle: Miners up: And EM stocks: Junk was mixed: Treasuries sold: And bunds: Stocks are struggling to rally: Westpac has the wrap: Event Wrap US consumer prices were steady in November, lower
In mid-2018, the US declared the China American Cold War a go. It comprised a series of ratcheting trade tariffs by the Trump Administration directed at China. these were directed largely at shifting global manufacturing supply chains, especially in technology, away from China. The measures were directed specifically at China’s stated aim of dominating global technology, artificial intelligence and robotics by 2025.
Other dimensions of the growing Great Power conflict included freedom of navigation through the South China Sea where China had constructed series of far-flung militarised atolls that armed the distant approaches to its mainland and effectively claimed that ocean as sovereign Chinese.
The Cold War was also concentrated around Chinese ‘sharp power’ which had made significant inroads in influencing policy outcomes within the US alliance network in and around the Asia Pacific via bribes, debt diplomacy and corruption of media.
The China American Cold War showed all of the characteristics of an historic, ideological struggle between liberal democracy and statist growth that had defined the 20th century battle between the US and the Soviet Union.
Via FT: China has summoned the US ambassador in Beijing to demand the cancellation of an arrest warrant for Meng Wanzhou, chief financial officer of Chinese telecoms company Huawei, in the latest sign that her detention is souring relations between the two powers. Beijing also threatened Canada with “serious consequences” following the arrest of Ms
At the diplomatic level most definitely and that could deliver a market shock if it goes badly. Via NYT: As President Trump was arranging a trade truce with President Xi Jinping of China in Buenos Aires over dinner on Saturday night, his administration was coordinating the arrest of a top Chinese technology executive who was flying through
Via FTAlphaville: Just days after President Trump broke bread with Chinese president Xi Jinping in Buenos Aires and agreed to a ceasefire in the US-China trade war, Trump tweeted that his administration is working closely “on seeing whether or not a REAL deal with China is actually possible”. If not, the self-proclaimed “Tariff Man” warned that new
Via Bloomie comes life under the God King: China’s plan to judge each of its 1.3 billion people based on their social behavior is moving a step closer to reality, with Beijing set to adopt a lifelong points program by 2021 that assigns personalized ratings for each resident. The capital city will pool data from
Here’s a taste of what it’s like, via Bloomie: The Maldives is reportedly planning to pull out of a free trade agreement with China as the island nation moves closer to India and the West after Ibrahim Mohamed Solih won the presidency in a September election…As he took office Saturday, Solih declared that large-scale corruption
Via the AFR: China has accused the United States of spoiling the Asia-Pacific Economic Cooperation (APEC) leaders summit by attending with “great anger”. However, it says it will not oppose Australia’s partnership with the US to redevelop Papua New Guina’s naval base at Manus Island. Reiterating calls by Chinese leaders for Australia and other countries
The AFR has the scoop: An investigation by The Australian Financial Review and Nine News has confirmed China’s Ministry of State Security (MSS), is responsible for what is known in cyber circles as “Operation Cloud Hopper”, a wave of attacks detected by Australia and its partners in the Five Eyes intelligence sharing alliance. A senior
Via Bloomberg: The European Union is hammering out the first bloc-wide rules to prevent foreign investments from threatening national security, as Chinese acquisitions foster political unease. Negotiators representing EU governments and the European Parliament may agree on draft legislation to screen foreign direct investments on November 20, according to Franck Proust, a French member of
Read the MSM and you might think that Australia/China relations as are back on track. “Reset” as it were. It doesn’t look that way to me! First, Treasurer Frydenburg has made the right call on the APA takeover: Treasurer Josh Frydenberg has formed a preliminary view that Hong Kong-owned CK Group’s proposed $13 billion acquisition
Must view stuff from Real Vision as Steve Bannon unloads on China. Another undisclosed airplane hangar, another epic interview. We’re bringing you our next installment on Real Vision’s #BigNameSeason! Watch the full interview with @jkylebass & Stephen K. Bannon now: https://t.co/JfDASsQqlj pic.twitter.com/Ez49y92r28 — Real Vision (@realvision) November 2, 2018 The reason China has stayed organized
Via Bloomie: A Chinese state-owned company was charged with conspiring to steal trade secrets of U.S. chipmaker Micron Technology Inc. as the Justice Department steps up actions against China in cases of suspected economic espionage. Fujian Jinhua Integrated Circuit Co. and Taiwan’s United Microelectronics Corp. were indicted in California along with three individuals, the Justice
Via WSJ: Two U.S. warships sailed through the Taiwan Strait, U.S. and Taiwan defense officials said Monday, a maneuver intended to signal to China that the U.S. could travel in any international waters. The voyage completed Monday “demonstrates the U.S. commitment to a free and open Indo-Pacific,” said Cmdr. Nate Christensen, deputy spokesman for the
Via Chanticleer today former deputy director of the Central Intelligence Agency, Mike Morell, who is advising Magellen: “Being anti-Chinese is a bipartisan position in the United States,” Morell said, recounting his recent chat with Democrat Senator Mark Warner, who sits on the Senate select intelligence committee and said he had shifted his position on China in
Via Foreign Affairs comes Kevin Carrico, lecturer in Chinese studies at Macquarie University, the translator of Tibet on Fire, and the author of The Great Han: Race, Nationalism, and Tradition in China Today: Classes in Marxism have long been compulsory in Chinese universities, normally welcomed by tired students as an excellent chance to catch up on their