Even with growth faltering in China, Xi Jinping appears imperiously assured that he possesses the right road map to surpass Western rivals. China’s economy has lurched into a slower gear. Its population is shrinking and aging. Its rival, the United States, has built up a lead in artificial intelligence. Mr. Xi’s pronouncement several years ago […]
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How China Came to Dominate the World in Solar Energy
China unleashed the full might of its solar energy industry last year. It installed more solar panels than the United States has in its history. It cut the wholesale price of panels it sells by nearly half. And its exports of fully assembled solar panels climbed 38 percent while its exports of key components almost […]
Read MoreChina Cancels a News Conference, Shutting a Window for Its People
For more than 30 years, the Chinese premier’s annual news conference was the only time that a top leader took questions from journalists about the state of the country. It was the only occasion for members of the public to size up for themselves China’s No. 2 official. It was the only moment when some […]
Read MoreIs China’s Era of High Growth Over?
China’s real growth agenda China announced an official growth target of about 5 percent on Tuesday that’s already looking hard to pull off. The world’s second-biggest economy is facing headwinds, from a consumer slowdown to weak investor confidence and a trade war with the West. But the growth target only tells part of the story […]
Read MoreChina’s New Economic Agenda, a Lot Like the Old One: Takeaways
Beijing was abuzz with politics on Tuesday. China’s annual legislative meeting — the National People’s Congress, when Communist Party leaders promote their solutions for national ills — opened for business. The event is a chance for the leaders to signal the direction of the economy and outline how and where the government will spend money […]
Read MoreChina Sets Economic Growth Target of About 5%
China’s top leaders on Tuesday set an ambitious target for growth as its economy is laboring under a steep slide in the housing market, consumer malaise and investor wariness. Premier Li Qiang, the country’s No. 2 official after Xi Jinping, said in his report to the annual session of the legislature that the government would […]
Read MoreChina Scraps Premier’s Annual News Conference in Surprise Move
China’s premier will no longer hold a news conference after the country’s annual legislative meeting, Beijing announced on Monday, ending a three-decades-long practice that had been an exceedingly rare opportunity for journalists to interact with top Chinese leaders. The decision, announced a day before the opening of this year’s legislative conclave, was to many observers […]
Read MoreChina’s Investors Are Losing Faith in Its Markets and Economy
Like many Chinese people, Jacky hoped that he could make enough money investing in China’s stock markets to help pay for an apartment in a big city. But in 2015 he lost $30,000, and in 2021 he lost $80,000. After that, he shut down his trading account and started investing in Chinese funds that track […]
Read MoreFear and Ambition Propel Xi’s Nuclear Acceleration
Nineteen days after taking power as China’s leader, Xi Jinping convened the generals overseeing the country’s nuclear missiles and issued a blunt demand. China had to be ready for possible confrontation with a formidable adversary, he said, signaling that he wanted a more potent nuclear capability to counter the threat. Their force, he told the […]
Read MoreChina Meets the U.S. to Discuss Fentanyl, But the Détente Has Limits
China and the United States are back at the negotiating table. Whether they can agree on much is another matter. In Bangkok, China’s top diplomat last week discussed North Korea and Iran with President Biden’s national security adviser. Days later, in Beijing, officials restarted long-stalled talks on curbing the flow of fentanyl to the United […]
Read MoreHow Anxiety About War with China May Raise the Danger of It
Michael Mullen, the former chairman of the Joint Chiefs of Staff, is concerned enough about the risk of war between the United States and China that he is listening to the audiobook version of Barbara Tuchman’s “The Guns of August,” the classic history of how the major powers in 1914 stumbled into World War I. […]
Read MoreChina’s Economy Is in Serious Trouble
In 2023, the U.S. economy vastly outperformed expectations. A widely predicted recession never happened. Many economists (though not me) argued that getting inflation down would require years of high unemployment; instead, we’ve experienced immaculate disinflation, rapidly falling inflation at no visible cost. But the story has been very different in the world’s biggest economy (or […]
Read MoreChina’s Population Shrank Again in 2023 as Births Continue to Fall
China’s ruling Communist Party is facing a national emergency. To fix it, the party wants more women to more have babies. It has offered them sweeteners, like cheaper housing, tax benefits and cash. It has also invoked patriotism, calling on them to be “good wives and mothers.” The efforts aren’t working. Chinese women have been […]
Read MoreChina Failed to Sway Taiwan’s Election. What Happens Now?
China’s leader, Xi Jinping, has tied his country’s great power status to a singular promise: unifying the motherland with Taiwan, which the Chinese Communist Party sees as sacred, lost territory. A few weeks ago, Mr. Xi called this a “historical inevitability.” But Taiwan’s election on Saturday, handing the presidency to a party that promotes the […]
Read MoreTaiwan Election: Why It Matters, and What It Could Mean for U.S. and China
Taiwan will choose a new president on Saturday, bringing new leadership to volatile relations with an increasingly belligerent Beijing. The outcome could raise or lower the risks of a crisis, giving China a potential transition point to revive engagement, or to increase the military threats that could ultimately draw the United States into a war. […]
Read MoreWhat Biden Needs to Tell Us
Sometimes social revolutions emerge from ordinary ideas. In the 17th and 18th centuries, thinkers like William Petty, David Hume and Adam Smith popularized a concept called “division of labor.” It’s a simple notion. If I specialize in doing what I’m good at, and you specialize in what you’re good at, and we exchange what we’ve […]
Read MoreDismissals Point to Xi JInping’s Quiet Shake-Up of China’s Military
The expelled officials included some of the brightest rising stars in President Xi Jinping’s military: two generals who oversaw satellite launches and manned space missions; an admiral who helped entrench Beijing’s presence in the disputed South China Sea; and a missile commander who had honed China’s ability to respond to a possible nuclear war. They […]
Read MoreFrom A.I. to inflation, 11 business charts that explain 2023
It has been a confusing year for the economy and markets. At the start of 2023, economists largely predicted a global recession, and Wall Street was bearish on stocks, with many analysts expecting the S&P 500 to finish the year just a touch higher than where it started. Fast-forward 12 months: No recession (yet) and […]
Read MoreChinese Spy Agency Rising to Challenge the C.I.A.
The Chinese spies wanted more. In meetings during the pandemic with Chinese technology contractors, they complained that surveillance cameras tracking foreign diplomats, military officers and intelligence operatives in Beijing’s embassy district fell short of their needs. The spies asked for an artificial intelligence program that would create instant dossiers on every person of interest in […]
Read MoreThree Months After Biden, It’s Xi’s Turn to Court Vietnam
China’s leader, Xi Jinping, arrived in Vietnam on Tuesday for a relatively rare trip abroad, seeking to elevate ties with an important neighbor just three months after President Biden visited Hanoi on a similar mission. Few nations now feature more centrally in the great-power competition between the United States and China, placing Vietnam, which has […]
Read More‘I Have No Future’: China’s Rebel Influencer Is Still Paying a Price
In November 2022, Li Ying was a painter and art school graduate in Milan, living in a state of sadness, fear and despair. China’s strict pandemic policies had kept him from seeing his parents for three years, and he was unsure where his country was heading. In China, after enduring endless Covid tests, quarantines and […]
Read MoreChina and E.U. Leaders Meet as Tensions Rise over Russia
Leaders of the European Union met with China’s top leader, Xi Jinping, in Beijing on Thursday in an effort to stabilize a relationship that has deteriorated in recent years over security, a soaring trade imbalance and China’s tacit support for Russia’s war in Ukraine. Mr. Xi’s meeting with Charles Michel, the president of the European […]
Read MoreXi Jinping is Asserting Tighter Control of Finance in China
In his decade as China’s top leader, Xi Jinping has asserted greater control for himself and the Communist Party over the country’s economy. Now, Mr. Xi has moved to extend that power more forcefully than ever over China’s financial system. The Communist Party issued a detailed ideological statement on Friday in Qiushi, the party’s main […]
Read MoreU.S. Moves to Crack Down on Money Behind Fentanyl Trade
The Biden administration said on Monday that it was creating a “counter-fentanyl strike force” within the Treasury Department to combat trafficking of the drug into the United States by more aggressively scrutinizing the finances of suspected narcotics dealers. The Treasury’s office of terrorism and financial intelligence and the criminal investigation unit of the Internal Revenue […]
Read MoreKissinger: A Player on the World Stage Until the Very End
When China’s leaders wanted to send a message to the Biden administration last summer, they did what came naturally. They called Henry A. Kissinger. Mr. Kissinger was 100 years old by then and had left the government 46 years earlier. But for as long as anyone could remember, the Chinese had venerated him as the […]
Read MoreKissinger’s Death Ends an Era in U.S.-China Relations
State media outlets hailed him as “China’s old friend.” On Chinese social media, people said his death marked the end of an era. They recalled his last visit to the country, in July, at age 100. For many in China, Henry A. Kissinger represented a now-bygone chapter in relations between China and the United States, […]
Read MoreCan U.S.-China Student Exchanges Survive Geopolitics?
On a cool Saturday morning, in a hotel basement in Beijing, throngs of young Chinese gathered to do what millions had done before them: dream of an American education. At a college fair organized by the United States Embassy, the students and their parents hovered over rows of booths advertising American universities. As a mascot […]
Read MoreGrowing Numbers of Chinese Migrants Cross U.S. Southern Border
The surge of migrants entering the United States across the southern border increasingly includes people from a surprising place: China. Despite the distances involved and the difficulties of the journey, more than 24,000 Chinese citizens have been apprehended crossing into the United States from Mexico in the past year. That is more than in the […]
Read MoreA Rare Opportunity to See China’s Leader Up Close and (Sort of) Personal
As the most powerful Chinese leader in generations, Xi Jinping rarely bothers to glad-hand or to try charming a crowd. His public appearances in China are carefully crafted, with fawning cadres and adoring fans carefully positioned around him. So when Mr. Xi landed in San Francisco this week to meet with President Biden, to try […]
Read MoreTwo Superpowers Walk Into a Garden
Edward Wong contributed reporting. The Daily is made by Rachel Quester, Lynsea Garrison, Clare Toeniskoetter, Paige Cowett, Michael Simon Johnson, Brad Fisher, Chris Wood, Jessica Cheung, Stella Tan, Alexandra Leigh Young, Lisa Chow, Eric Krupke, Marc Georges, Luke Vander Ploeg, M.J. Davis Lin, Dan Powell, Sydney Harper, Mike Benoist, Liz O. Baylen, Asthaa Chaturvedi, Rachelle […]
Read MoreDay After Xi Meeting, Biden Says U.S. Has ‘Real Differences’ With China
President Biden said Thursday that the United States has “real differences with Beijing,” one day after he held an hourslong meeting with President Xi Jinping of China at a moment of deep tension between the two countries. Speaking to executives at the APEC summit in San Francisco, Mr. Biden noted that he and Mr. Xi […]
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