Saudi-China AI collaboration could throttle the kingdom’s access to US chips, Europe plans a probe into Chinese steelmaker subsidies, Beijing restricts offshore trading by domestic brokerages, and British banks game out their China risks. Plus: Chinese EV suppliers find IRA back doors in Morocco and South Korea.
Saudi Arabia and Turkey are both angling for a Tesla factory. Foxconn wants to expand on its manufacturing operations in India. The EU is worried about dependence on Chinese batteries. And Wester profits are trapped in Russia.
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.
Saudi Arabia and China strengthen their ties, and the world should pay attention. Plus, we dive into US efforts to bring allies under the Inflation Reduction Act umbrella – and China's efforts to crash the party (case in point: Chinese battery companies embedding themselves in the US automotive supply chain).