- Military aid for Russia’s war?
- Tech stocks in turbulent stock market
- Jilin continues to be Covid hotspot
- Doubts about growth indicators
- Real estate tax placed on hold
- BYD raises prices
- Liao Yiwu: an unholy alliance
Today marks the fourth week of the war in Ukraine. A war that is live for the entire world to see on social media as it continues to escalate. This disconcerting situation reminds us of the 1965 song “So Long, Mom” by American songwriter, mathematician and Harvard professor Tom Lehrer. The song is about the story of a war through the eyes of a soldier who tells his mother that she can simply watch everything live on television from the bomb shelter.
The world watches, debates – and many waver between mockery of Putin’s poorly organized military and concern about Chinese interference. China at Russia’s side – an image perfectly suited for speculation and juicy headlines. But how realistic is it that China will provide military assistance to Russia? Michael Radunski explores this question and takes a close look at the Chinese arms industry in particular.
The Chinese tech sector is “uninvestable”. Harsh words from US investment bank JPMorgan on Tuesday. And down they went. China’s tech stocks have been in a tailspin for months. And the poor market conditions are not the only reason for this, Beijing with its tech crackdown is also to blame. On top of that, there is mounting pressure from the US Securities and Exchange Commission. Yesterday, some share prices rose again by over 30 percent. The Chinese State Council had promised to keep the markets stable. Our Beijing team analyzed the situation and conclude, that in the long term, tech companies need more than soft words.
Military aid for Russia?
Russia’s advance in Ukraine stagnates. Moscow’s troops outnumber the Ukrainian forces, and the noose around cities like Kyiv, Mariupol and Kharkiv tightens. But Putin’s plan for a quick victory has failed. China is now supposed to come to the rescue. At least that is what renowned newspapers such as Washington Post, the New York Times and the Financial Times report, citing US officials. According to these reports, Moscow has requested military and economic aid from Beijing – and China has signaled its willingness.
China’s official answer sounds much clearer: It is all false. It labeled the reports as deliberate disinformation by the United States. “China is not a party to the crisis,” Foreign Minister Wang Yi said on Monday. China’s ambassador to the US, Qin Gang, reiterated in an op-ed for the Washington Post that China does not support Russia’s invasion. Strikingly, the diplomat referred to it as “war”.
Request to China: Information came just before Sullivan-Yang meeting
This process raises several questions, the first being the timing: Putin’s army increasingly struggles with logistics, organization and resupply. Russia needs significantly more weapons, ammunition and troops than originally calculated. The request for aid to its closest partner seems entirely plausible at this point.