At a regional summit in Tianjin, China, President Xi Jinping emphasized leveraging the “mega-scale market” and boosting cooperation in areas like energy and technology. President Putin of Russia voiced support for Xi’s vision of a new global security and economic order, advocating for a multipolar world and the use of national currencies. The Shanghai Cooperation Organisation (SCO), including leaders from the Global South, aims to create a more equitable global governance system, opposing Cold War mentalities and supporting multilateral trade. China plans to provide substantial aid to member states. The summit also offered an opportunity for China to improve ties with India.
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During a meeting in Tianjin, China, Chinese leader Xi Jinping and Indian Prime Minister Narendra Modi committed to resolving border disputes and enhancing cooperation. Modi’s visit, his first since 2020 border clashes, occurred within the context of the Shanghai Cooperation Organization summit. Both leaders emphasized the importance of peaceful borders for bilateral relations and expressed a desire to avoid allowing the border issue to overshadow their overall relationship. They agreed to focus on economic development and strategic autonomy, with further discussions and increased visits planned to ease trade and travel restrictions.
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A coalition of U.S. agencies and allied governments has revealed that three private Chinese companies were involved in a large-scale hacking operation known as Salt Typhoon, targeting telecommunication companies globally, including AT&T and Verizon. The operation, active since 2021, allowed China to potentially access communications, including text messages, from millions of people, and track their locations, while also targeting government, transportation, and military infrastructure networks. The FBI, NSA, and CISA, along with international partners, signed a report that detailed that the campaign has hacked over 200 companies across 80 countries. The identified companies, Beijing Huanyu Tianqiong Information Technology, Sichuan Zhixin Ruijie Network Technology, and Sichuan Juxinhe Network Technology, were reportedly acting on behalf of China’s Ministry of State Security.
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Xi Jinping congratulates Ukraine on Independence Day for the first time, a move that’s definitely caught everyone’s attention. It feels like a small but significant ripple in the complex dance of international relations. For China, this is a calculated step, a way to position themselves strategically in a world constantly being reshaped by the ongoing conflict. It’s a signal, perhaps, that they’re assessing the shifting sands and are ready to play a longer, more nuanced game.
This act of congratulating Ukraine isn’t necessarily about suddenly becoming best friends. China’s approach is rarely that straightforward. They seem to be carefully weighing different scenarios, particularly the long-term outcomes of the war.… Continue reading
Trump says China has to give US magnets or face a 200% tariff. Wow, right off the bat, it’s clear we’re dealing with some high-stakes rhetoric. The core of this is a demand, pretty blunt actually: “Give us magnets or else.” And the “or else” is a massive 200% tariff on these magnets. It’s a bold move, to say the least, and one that raises a lot of eyebrows, not least of all because the context surrounding rare-earth magnets is complex.
The immediate thought is, what’s the deal with the magnets? Why is this such a big deal? And the answer, as it often does in international trade, goes way beyond the simple transaction.… Continue reading
Evergrande, once the world’s most indebted property developer, amassed $300 billion in debt, leading to its downfall after Beijing implemented new borrowing restrictions in 2020. The company’s financial struggles worsened, resulting in defaults on overseas debts and a subsequent liquidation order from the Hong Kong High Court in January 2024, following years of legal battles. The company’s shares were delisted after a 99% loss in market value. Liquidators have revealed $45 billion in debts and limited asset sales. The focus has now shifted to the distribution of assets among creditors during the ongoing bankruptcy process.
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Japan has requested that European and Asian countries avoid participation in China’s upcoming military parade and related events commemorating the 80th anniversary of the end of World War II. The Japanese government is concerned about China’s historical interpretations and the anti-Japanese sentiment perceived in the events. These commemorative events, including a parade in Beijing’s Tiananmen Square, are scheduled for September 3rd, preceded by the Shanghai Cooperation Organization summit, which Russian President Vladimir Putin is expected to attend. In 2015, leaders from major Western countries and then Japanese Prime Minister Shinzo Abe did not attend a similar parade.
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Ukrainian President Volodymyr Zelenskyy has stated that China has aided Russia during the war, making it ineligible to be a security guarantor in a future peace deal. Zelenskyy cited China’s failure to prevent the war and its support for Russia, including opening the drone market. Despite China’s calls for a peaceful resolution, its economic support for Russia has damaged its neutral standing with Ukraine and Western leaders. This stance suggests China will be excluded from the peace process, and security guarantors should be limited to countries that have supported Kyiv since the 2022 invasion.
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Canada will appoint its first foreign interference commissioner next month, as confirmed by Public Safety Minister Gary Anandasangaree. This move is part of a larger package of reforms designed to combat transnational repression, spurred by investigations revealing Beijing’s tactics to silence critics. Following the publication of these findings, Canadian lawmakers emphasized the urgency of addressing foreign interference, leading to the new watchdog position mandated by legislation passed in June 2024. The legislation will also include a public registry of foreign agents, further strengthening Canada’s ability to safeguard its citizens and maintain its sovereignty.
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Zhou Ming, a leading figure in industrial software for aircraft like the Boeing 787 and Airbus A380, has departed Altair to take on a new role in China. He has been appointed as a chair professor and the inaugural dean at the College of Engineering at the Eastern Institute of Technology in Ningbo. His work will focus on establishing a research team dedicated to developing world-class engineering software, with the goal of advancing China’s high-end manufacturing capabilities. This move represents a significant development in China’s pursuit of technological self-reliance.
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John Q. Hosedrinker 
Matt Underwood