Why is Beijing blocking financial news?

The China Letter: October 27, 2021

The state of China’s media this week includes a business outlet being removed from approval, reaction to Joe Biden saying the U.S. will defend Taiwan if necessary, fallout from a denied missile test and an NBA player getting permission from his team to taunt President Xi. Check out the latest round of stories that you can easily share:

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Repercussions for Caixin

The Associated Press @AP

China has removed Caixin Media, one of the country’s most independent business news sites, from a list of news outlets whose content can be republished by other internet news providers.

apne.wsChina boots Caixin financial news from approved media listBEIJING (AP) — China’s leading financial magazine has been dropped from an official list of outlets websites can republish, reducing the exposure of a rare independent voice as the authorities tightens control over the media.

There’s an official list of 1,300 news outlets that Chinese websites are allowed to republish and privately funded financial news outlet Caixin Media has been notably booted. It also happened around the time property giant Evergrande Group entered a precarious condition that has foreshadowed a potential economic crisis for China.

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Taiwan’s American friend

Axios @axios

Defense officials have publicly aired their concerns that China will take Taiwan by force in the next four to six years, perhaps sooner. The president's position on this question may soon have real-world, life and death consequences.

axios.comBiden’s Taiwan remarks raise questions about his real policyThe White House has walked back his statements that the U.S. would defend Taiwan against a Chinese invasion.

Joe Biden has made two seemingly accidental statements that the U.S. would defend Taiwan against a Chinese invasion, although the official American government position has been “strategic ambiguity.” The occupant of the White House letting his feelings surface has China’s state media suggesting that a price may be paid for this.

People's Daily app @PeoplesDailyapp

Chinese President #XiJinping on Monday attended and delivered an important speech at a commemorative meeting marking the 50th anniversary of the restoration of the People's Republic of #China's lawful seat in the United Nations (#UN).

peoplesdaily.pdnews.cnXi attends meeting marking 50th anniversary of restoration of People’s Republic of China’s lawful seat in UNXi attends meeting marking 50th anniversary of restoration of People’s Republic of China’s lawful seat in UN

Beijing’s official report of remarks by Xi Jinping to mark the 50th anniversary of China at the United Nations didn’t note how his not mentioning Taiwan signalled how he sees it: a breakaway province destined for reunification. Taiwan lost its seat at the UN when China joined in 1971, but the U.S. is looking to help it find a way back in.

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The missile threat is real

NPR @NPR

China is investing heavily in shorter-range hypersonic missiles that skim through the upper atmosphere at more than 5 times the speed of sound. Critics worry it's turning into a race with the U.S. that has no end.

n.prBehind murky claim of a new hypersonic missile test, there lies a very real arms raceThe U.S. and China are rushing to develop hypersonic weapons. Critics worry it’s turning into a race without end.

China’s claim that a routine experimental space mission was inaccurately reported as a test of a hypersonic missile led to uncertainty about which it was, since both explanations sound plausible. But despite denials from Beijing, the U.S. is now more concerned about the ability of nuclear-capable rockets to pose a genuine threat:

Natasha Bertrand @NatashaBertrand

New: Intel officials told lawmakers in private briefings that the Chinese test, which they tracked closely as it was happening, marked a technological leap & a substantial advancement in first strike capability, but does not give China an upper hand.

cnn.comChina’s latest missile test raises the stakes for Biden’s nuclear weapons reviewExperts are concerned about China’s military capabilities after a report that the country recently tested a nuclear-capable hypersonic missile. CNN’s Brian Todd has more.

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The last words, for now

Turkey native Enes Kanter started showing off a new round of “freedom shoes” he’s worn while playing for the Boston Celtics in the NBA. Their games were subsequently blacked out in China, but the team backs his right to make statements like “Free Tibet.” The basketball star has also called out Nike for failing to condemn slave labour:

Enes Kanter @EnesKanter

Dear @Nike Stop the modern day SLAVERY, now!!! #HypocriteNike #EndUyghurForcedLabor

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The China Letter is produced by the Canadian Freedom Institute, a think tank based in Canada. We produce the China Letter every week to keep you informed and to press the ideas of free markets and free people not only in China but around the world. Please consider donating to keep this newsletter running!