Mineral wealth Apr 9, 2021 (WiC 535)
“The risk is that China uses its position in the supply chain to put pressure on other economies, and that the UK doesn’t have any reliable alternatives.”
Chris Williams, managing director of UK Seabed Resources, on why his firm has plans to deep-sea mine for rare earths in the Pacific. He told The Times there was concern about “vulnerability” in the supply chain with 95% of rare earths processed in China. WiC first wrote about China’s control over rare earths – used in products that span missiles and smartphones – in issue 13 in 2009.
Bull on China Apr 1, 2021 (WiC 534)
“I’d like to strike an optimistic note and I’m very confident that the future of China is going to be great and that China is headed towards being the biggest economy in the world and a lot of prosperity in the future”
Elon Musk in an interview with state-run broadcaster China Central Television last Tuesday. “China in the long term will be our biggest market, both where we make the most number of vehicles and where we have the most number of customers,” the Tesla boss added.
Driving the future Mar 26, 2021 (WiC 533)
“The importance of China is truly global. Whenever China embarks on a new journey of modernisation, this has worldwide implications”
Oliver Zipse, chairman of BMW, told the China Development Forum that China’s 14th Five-Year Plan will make it a leader in a number of new technologies. He also told the China Daily that BMW has invested more than Rmb64 billion ($9.81 billion) in Shenyang since 2009 to build both vehicle and battery plants as well as infrastructure.
A good week for Xiaomi Mar 19, 2021 (WiC 532)
“Xiaomi is a publicly traded company that produces commercial products for civilian use, is controlled by its independent board and controlling shareholders, and is not effectively controlled or associated with others under the ownership or control of the PRC [People’s Republic of China] or its security services”
Opinion of Rudolph Contreras, a US federal judge, ruling on Xiaomi’s blacklisting by the former Trump administration in January. He described that decision as “deeply flawed”. After the decision FT Russell said it would restore Xiaomi to its stock indices.