What Xi Said is a weekly rundown of the top ten emerging issues from the past seven days shaping US-China commercial relations.
What Xi Said is for global communication strategists and C-Suite executives.
#USChina #ChinaEU #USTaiwan #Pompeo #Beijing #Stability #ExecutiveOrder #Alipay #WeChat #Trump #Biden #NYSE #ChinaUnicom #ChinaTelecom #ChinaMobile #Raimondo #Commerce #JackMa #Technlogy
Memo: What Xi Said | January 11, 2021
1. China and the EU rushed through an investment deal while the US deals with its tumultuous White House transition: Yet amid the deals' fanfare, it's more of a broad outline of a political agreement with the final text completed in the months ahead.
2. USA-TPE: The United States is lifting decades-old restrictions between American and Taiwanese officials, in a move that will fundamentally change Washington's relationship with the self-governed island -- the action will no doubt anger Beijing.
3. China's state media attacks Sec. State Pompeo over Taiwan: "The Trump administration, in its continuing efforts to burn the house down before leaving office, has crossed a dangerous red line with China."
"Pompeo starts Taiwan bonfire for Biden to put out"
4. With 'chaos in West, Chinese law enforcers told to keep a grip on social stability: The world is in a turbulent time, and China must grasp risks from the pandemic from the annual Central Political and Legal Work Conference of justice and police officials.
5. Trump signed an executive order directing the Sec. Commerce to prohibit transactions with 8 Chinese apps and their subsidiaries within 45 days. Alipay and WeChat Pay are among those targeted. Notably, the implementation deadline falls 30 days into the incoming Biden administration, making its fate unclear.
6. China launches measures to protect companies from US sanctions: The rules bar Chinese companies from complying with punitive measures from foreign governments. The new rules also allow Chinese companies to sue in Chinese courts.
The order empowers Beijing to tell companies to ignore US restrictions and allows them to sue other businesses if they comply.
7. New York Stock Exchange decided to delist three Chinese telecommunications companies—China Unicom, China Telecom, and China Mobile—reversing an earlier decision.
8. Biden will nominate former VC and RI Governor Gina Raimondo for Commerce secretary: She has firsthand experience with China's economic challenges: Her father was laid off when the watch factory he worked at moved to China. Raimondo and her team will inherit a litany of enforcement actions against Chinese technology companies.
9. For the past decade, China's internet giants have mainly been allowed to grow their core businesses and diversify into new sectors without too much regulatory hindrance. But events that began to unfold late last year now have people wondering whether the rise of China's top internet firms has hit a political ceiling.
10. Where in the world is Jack Ma?
The Alibaba founder's uncertain whereabouts and growing regulatory troubles illustrate tense relations between Chinese entrepreneurs and the Chinese Communist Party.
