Trade War

Newsletter 157 - March 26, 2023

Welcome to the 157th edition of Trade War.

Western CEOs including Apple’s Tim Cook troop to Beijing for chance to hobnob with top Chinese officials. Office of U.S. due diligence firm Mintz raided and Chinese employees detained. And a new study shows China’s strategy of economic coercion has not been effective.

While TikTok faces scrutiny in Washington, a new law could adversely affect a far broader range of Chinese companies doing business in the U.S. And premier Li Qiang rallies private companies to help China achieve self-reliance.

Xi Jinping’s meeting with Putin motivated by shared mutual antipathy towards the U.S. And Xi uses his long-favored line “changes unseen in a century” with Russia’s leader, signaling his ambition for China to rise to great power status.

Western CEOs troop to Beijing

Coming fast on the heels of Xi Jinping’s visit to Moscow, executives from the world’s multinationals have trooped to Beijing for the China Development Forum, an annual event that allows them to hobnob with top Chinese officials and demonstrate their commitment to the country’s vast market.

Procter & Gamble’s Chairman and CEO Jon Moeller, Pfizer’s Albert Bourla, Qualcom’s Cristiano Amon, BHP’s CEO Mike Henry, and Bridgewater Associates Ray Dalio are among those attending the three-day forum that opened Saturday in Beijing’s state guesthouse Diaoyutai, according to the event’s website. Apple’s Tim Cook, a longtime regular participant at the forum, is also in Beijing for the event.