The Hong Kong bourse rolls back requirements for disclosing China-related risks, a US Congressional committee investigate Blackrock and MSCI’s routing of American capital to problematic Chinese entities, Maersk forecasts a deep contraction in global trade, and Rome plans to set up a “Made in Italy” fund.
China gives global CEOs a warm welcome, but the US defense secretary the cold shoulder. At the same tie, follow the money: Global investors are cooling on China. Plus: Saudi Arabia and Russia, Japan and wind, cathodes and anodes.
Reshoring solar panel manufacturing would speed decarbonization. Plus British Columbia's public pension manager exits China, US tech investors do too, and (three makes a trend) Italy intends to exit the Belt and Road Initiative.
With recession alarms blaring, supply-side solutions remain elusive; the world writes off streaming even as Netflix's revenue grows; Chinese companies target European listings; and the Dutch bet big on photonics while the US-South Korea battery alliance hits rocky waters.
China's CNOOC grows wary of the US, but not of a global footprint; GM and Glencore announce a flashy new supply partnership; and Beijing signals that there's more intervention in capital markets ahead.