China ITK | Oct. 8
CIA launches new China-focused unit: The mission center is intended to “address the global challenge posed by the People’s Republic of China that cuts across all of the Agency’s mission areas,” the CIA said.
Politico
US troops have been deployed in Taiwan for at least a year: Small presence of Americans secretly training local forces marks concern over China’s years-long military buildup and recent moves.
WSJ
+ Taiwan’s defense minister has warned that China will be fully capable of invading the island by 2025, in the government’s first clear message to the public that the country faces a threat of war.
+ "See whether the PLA will launch a targeted airstrike to eliminate those US invaders!" the chief of the Chinese Communist Party’s propaganda outlet threatened on Thursday.
US submarine hits underwater object in South China Sea: A US nuclear-powered submarine struck an object underwater in the South China Sea on Saturday, according to two defense officials. A number of sailors on board the USS Connecticut were injured in the accident, the officials said. None of the injuries were life-threatening, according to a statement from US Pacific Fleet. It's unclear what the Seawolf-class submarine may have hit while it was submerged.
CNN
+ Statement regarding #USSConnecticut (SSN 22): The US Navy Seawolf-class fast-attack submarine struck an object while submerged on Oct. 2, while operating in international waters in the Indo-Pacific region. There are no life-threatening injuries.
Americans sense China eclipsing US economically and say protecting US jobs should be priority, poll finds: As competition between the United States and China intensifies, more Americans now say the Asian country is more powerful economically, a reversal from two years ago when a plurality said the United States had an economic advantage, according to a survey released Thursday by the Chicago Council on Global Affairs.
WP
Biden and Xi agree to hold a virtual summit: The agreement is a recognition of the dangers of going a year into a presidential term without a formal meeting between the leaders of the world’s two largest economies.
NYT
IMF board weighs top official's fate in wake of China scandal: Managing Director Kristalina Georgieva has been linked to a scandal involving China and an annual report that ranked countries as investment destinations.
Politico
What blockbuster? China spurns Hollywood's advances: Regulators freeze out US blockbusters as Chinese audiences become harder to woo.
Nikkei
+ In 2020, China's box office surpassed America's as the largest in the world, partially thanks to its earlier reopening from the pandemic. Ticket sales totaled $3.1 billion, compared to $2.1 billion in the US, according to Maoyan Entertainment, a Chinese ticket service, and film data platform.
Battery technology gives China an opening in electric vehicles: Backed by Warren Buffet, BYD is pushing into overseas markets. It hopes its cheap and powerful batteries will help it sell cars.
FT
+ 145 million electric vehicles are predicted to be on the roads within a decade, up from 11 million last year.
US loosens China grip on $46 billion lithium-battery industry: Bloomberg reports the US is narrowing the gap on China’s dominance of the $46 billion lithium-ion battery industry thanks to investments from Tesla and the Biden administration’s policy push to drive the growth of electric vehicles.
+ The US rose to the second spot in BloombergNEF’s global lithium-ion battery supply chain ranking for both this year and a 2026 projection.
Supply chain risks: Should businesses move out of China? As concerns rise globally over the use of forced labor in China’s Xinjiang Uyghur Autonomous Region, businesses with supply chains that extend into China face heightened reputational and compliance risks. Having passed the Senate by a voice vote on 14 July 2021, the “Uyghur Forced Labor Prevention Act,” has raised business concerns as operations brace for its passage in the House.
Caracal
"According to RANE expert Marc Ross, Founder at Caracal, the new legislation is broadly stated and presents a 'one-size-fits-all' approach that isn’t aligned with how the market works. Different sectors and different business models require a more sophisticated set of solutions."
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