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In today’s newsletter:
President Trump’s diplomatic team launched
Deadly car ramming attack in China
How Big Oil Disguises Methane Emissions
good morning. Donald Trump has signaled a new tough stance on China by appointing a hawkish figure to head foreign policy, Washington experts say, as the president-elect’s Cabinet begins to take shape.
President Trump yesterday nominated Mike Walz, a Florida congressman and former Green Beret who called China an “existential” threat, as his national security adviser, and Sen. Marco Rubio, another prominent China hawk. It is expected that a lawmaker will be nominated as secretary of state.
Elise Stefanik, the president-elect’s chosen ambassador to the United Nations, has also been highly critical of the Chinese government.
The appointment was welcomed by foreign policy experts who believe the United States should take a tougher line on China than Democratic President Joe Biden is pursuing.
“It’s like Christmas morning for China hawks,” said Eric Sayers, managing director at consultancy Beacon Global Strategies. Read more about President Trump’s appointees and their views on China.
Other recommended books on US-China relations include:
ZHUHAI AIR SHOW: China has unveiled its latest stealth fighter jet as Beijing competes with the United States for air superiority amid rising regional tensions.
Climate diplomacy: During the UN COP29 summit in Baku, China thinly criticized the incoming Trump administration while urging the US to engage in “constructive dialogue” to tackle climate change in the future. asked.
Here’s what else we’re looking at today:
Economic data: US releases CPI inflation data for October.
Xi Jinping: Chinese leader visits Peru for Asia-Pacific Economic Cooperation Forum summit. During his visit, President Xi is expected to inaugurate a megaport built by China on the Pacific coast of the Latin American nation.
Result: Chinese internet giant Tencent reports third quarter results.
5 more top articles
1. Police in the southern Chinese city of Zhuhai have arrested a driver accused of plowing into people in a busy pedestrian area, killing 35 people and injuring 43 others. Monday night’s incident is the latest in a series of what analysts say is an apparently indiscriminate attack. He said this suggests that social tensions are rising in China.
2. Nissan shares rose as much as 20 percent yesterday after it was revealed that a fund run by activist investor Effissimo Capital Management had acquired a stake in the struggling Japanese automaker. did. Singapore-based Effissimo is a secret hedge fund run by Japanese executives and known for high-profile campaigns against some of Japan’s largest companies.
3. The CEO of Neom, a $500 billion futuristic development in the Saudi desert, was abruptly replaced after six years in charge of Crown Prince Mohammed bin Salman’s flagship project. The company did not give a reason for Nadmi al-Nasr’s departure, but his tenure was often controversial as he oversaw some very ambitious developments.
4. Baidu has unveiled smart glasses powered by artificial intelligence, as Chinese tech groups compete with global rivals to leverage AI-integrated hardware. The company said the Glass, which runs Baidu’s large-scale language model Ernie, will “become a personal assistant” for the wearer.
5. Wall Street bonuses are expected to increase by up to 35 percent this year, according to payroll consultancy Johnson Associates. The level of activity in corporate transactions, stock sales, and bond trading gradually recovered in 2024 after a two-year fallow period. The investment bankers most likely to make the most money are:
In other U.S. news: Wall Street investors Scott Bessent and Howard Lutnick are Trump’s top Treasury secretary after hedge fund billionaire John Paulson declines to be Treasury secretary. He is a strong candidate.
big reading
Methane is responsible for an estimated 30% of the world’s warming since the Industrial Revolution. Some methane comes from natural sources such as volcanic gases. However, the majority of emissions are caused by human activities. The FT’s analysis found that oil and gas companies regularly conceal deadly greenhouse gas leaks, despite one of the easiest ways to combat climate change.
I’m also reading. . .
President Trump’s mission of revenge: There are few theoretical limits to what a president-elect can do to carry out his vows of revenge against perceived enemies, writes Edward Luce.
Emerging Markets: If President Trump imposes larger tariffs, there will be major changes in the US dollar and currencies across Asia.
The problem with self-driving cars: The better our automated systems become, the more complacent and dangerous we become, writes Sarah O’Connor.
chart of the day
It’s much easier to blame China for the disappearance of U.S. manufacturing jobs than it is to blame domestic consumers or automation, writes Martin Wolfe. But worshiping manufacturing will not restore the old workforce, and Trump’s threatened tariffs on China will cause further harm.
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Take a break from the news
Georgina Adam reports on Art Week Tokyo and why foreign gallerists say there’s a “new obsession with Japan”.
