“Global stocks rise,” highlighted the Wall Street Journal, opening the week. Actions were “boosted” by confirmation of the end of the lockdown in China, followed by stimulus such as lower taxes for companies and more subsidies for electric cars.
The move had started last week, when giants Alibaba and Baidu announced first-quarter results, “beating estimates”, according to the Financial Times, and causing the former to jump 14% on Wall Street and 12% in Hong Kong.
Overall, the WSJ noted, “Chinese tech stocks soar.” In addition to the stock markets, he added later, with May data, the “Chinese deceleration itself shows signs of slowing down”. It was this comeback from China that took oil “over $120.”
Following up, in the headline of Beijing’s leading financial vehicle Caixin, “Exclusive: Qualcomm Plans to be in China for the Long Term” (above, in the English version). From the president and CEO of the American semiconductor giant, the Brazilian Cristiano Amon
“Strong, long-term partnerships between US and Chinese companies will always be a stabilizing force in the relationship between the two countries.”
MUSK & CHINA
Elon Musk had already passed through May in praise of the country, since the beginning of the resumption of Shanghai, which began with the Tesla factory. He mentioned that the economy will be two or three times bigger than the American one; that WeChat is a model for Twitter; and finally, on your Weibo account:
“Few realize that China leads the world in renewable energy and electric vehicles. Whatever you think of China, it’s a fact.”
Shanghai’s Guancha portal highlighted a piece of advice to Tesla’s Chinese competitors: “Don’t be fooled by Musk”, who is driven by the “huge Chinese market”. Automakers like Xiaopeng and BYD still have a long way to go “in the extremely critical field of automotive chips.”
‘STILL TOP GUN?’
About “Top Gun: Maverick”, the FT highlighted the above frames, comparing Chinese and American naval forces in the year of the first film and now, to illustrate what it considers the hallmark of the new production: “it reflects the anxiety with the US decline in the face of of China’s high-tech military might”, starting with the “aging protagonist”.
The WSJ followed a similar path, noting that China’s Tencent has left production, but the film “strives to avoid politics and narratives that alienate global audiences, sending Tom Cruise on a mission to an unidentified country.”
