Sharp China: Party Building and Xi's Dominance; Memory Chips and ASML Accusations; Germany's Puzzling Push for Plaza Accords

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Show Notes:

On today’s show Andrew and Bill begin with Xi Jinping Thought on Party Building and further signs that one year after from a summer of rumors and one year out from the 21st Party Congress, Xi’s power remains entrenched as ever. Then: MOFCOM and the Ministry of Finance announced restrictions on several dozen US firms, the global memory chip shortage is an opportunity for CXMT and YMTC, what to make of the U.S. government's scrutiny of ASML, and Elon Musk's alarmism at the West’s China vulnerabilities. At the end: Takeaways from the EU Council meeting on China, Germany's push for PRC currency revaluation, structural forces that yield EU inertia, and emails on Chinese soccer, space warfare, and the JIm Cramer of weather.

Related Readings:

Li Qiang inspects Dalian; Response to US expansion of China military companies list; Contaminated diapers; No “Plaza Accord” to help the EU; Invest in China -- Sinocism

Introduction to the Main Entries in Volumes One and Two of the Selected Works of Xi Jinping on Party Building -- Sinocism Translation

Xi Jinping’s Thought on Party Building and the Four Major Changes in CCP Governance -- China Thought Express

China Tightens Rare-Earth Grip on U.S. Firms, Threatening Trade Clash -- NYT

Why the Memory Crunch Is Almost Impossible to Solve -- WSJ

Loosening Export Controls on China’s Memory Chip Makers -- Jimmy Goodrich

Memory Chips and China, Microsoft and Chinese Models -- Stratechery

US senators increase pressure on Apple over possible Chinese chipmaker deal -- FT (2022)

US Tells ASML It’s Concerned China May Have Top Chip Tool -- Bloomberg

Netherlands to join US-led Pax Silica AI initiative despite ASML dispute -- Reuters

Germany backs EU’s tough China line with call for ‘Plaza Accord’ talks on yuan -- SCMP

The world does not need a new ‘Plaza Accord’: Global Times editorial -- Global Times

Europe’s Final Warning -- Sharp Text

Germany is wavering on China (again) -- Watching China in Europe

Why China is so bad at football -- The Economist