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The Latest Breaking News from China

Was Eileen Wang's Fiancé Mike Sun a Convicted Chinese Agent? What the Federal Case Says

Eileen Wang's political career in Arcadia, California, is marred by allegations of acting as an undisclosed agent for China, with ties to Mike Sun and a controversial media platform.

International Business Times UK

Southern California mayor to plead guilty to acting as illegal agent for China

Eileen Wang, the mayor of Arcadia, has agreed to plead guilty and has resigned from her city position

The Independent UK

Trump heads to China to spread the gospel of American tech while emulating Xi Jinping on AI

Tim Cook and Elon Musk, among other tech CEOS, will accompany the US president on a trip to China

The Guardian - US

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Fifa’s failure to agree World Cup TV deals in China and India a headache for Infantino

With the tournament a month away, there are still no agreements done with the two Asian giants to ensure fans there can watch all 104 games

The Guardian - UK

Who is Eileen Wang? Arcadia Mayor Resigns After Admitting to Being a 'Secret' China Agent

Arcadia Mayor Eileen Wang pleads guilty to being an unregistered agent for China, marking a significant breach of US political integrity and raising concerns about foreign influence in local government.

International Business Times UK

AI optimism keeping global markets resilient despite West Asia tensions: William Lee

Global markets remain strong, prioritizing AI and technology over West Asian conflicts. Investors believe the war will be short, allowing focus on future tech growth. The US and Europe are seen benefiting from the AI revolution. A key focus is the upcoming Trump-Xi meeting, which could define US-China tech rivalry.

The Economic Times

China green tech firms target new consumers hit by Iran war energy shock

Companies like Jinko Solar, Chery Automobile, and BYD are seeing surging demand for EVs, batteries, and solar panels in markets seeking alternatives to costly fuel imports.

The Economic Times

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Seven-day weeks and ‘debt bondage’: China’s first electric car plant in Europe mired in allegations of worker abuse

The BYD factory being built in Szeged, Hungary, is facing scrutiny after reports of EU labour laws being violated among the Chinese migrant workforce

The Guardian - UK

Global Market: Investors return to emerging markets in April as debt flows surge

Global investors returned strongly to emerging markets in April, with $58.3 billion in inflows after March’s $66.2 billion outflow, driven mainly by debt markets. According to IIF, easing geopolitical tensions and stabilising conditions restored risk appetite, though concerns remain over energy costs and whether the rebound is sustainable.

The Economic Times

Tech Brief (May 12): SMIC’s Plan to Buy Out Chip Unit Approved

China issues guidelines to regulate AI agents, robotics startup Vbot raises 500 million yuan

Caixin Global

Iran-US war latest: Trump accuses media of treason as US intel reportedly claims Tehran retains substantial missile capabilities

Trump says reports that the ‘Iranian enemy is doing well’ are ‘false’

The Independent UK

Xi-Trump summit may yield farm deal, but China has limited soybean appetite

Market watchers anticipate a farm deal at the upcoming U.S.-China summit, potentially expanding Beijing's purchases of grains and meat. However, significant new soybean purchases beyond last October's agreement are unlikely due to weak demand and cheaper alternatives. The focus is on potential deals for corn, sorghum, milling wheat, beef, and…

The Economic Times

Stung by Iran war, Trump heads to China in need of wins

President Trump visits China with reduced trade goals. His earlier tariff strategy has not yielded expected results. The meetings will focus on limited trade agreements and managing future trade relations. China seeks assurances on Taiwan and trade policies. The outcome is expected to be a temporary truce favoring China.

The Economic Times

Oil Price Today (May 12): Crude oil at $105 as Donald Trump says peace talks on ‘life support’. What are experts saying?

Oil prices rose for a second day as uncertainty surrounding U.S.-Iran conflict resolution kept global crude supply concerns high. President Trump indicated ceasefire talks are struggling, while the U.S. plans to release oil from its reserves. Market attention now shifts to Trump's China visit, with hopes of leveraging influence for…

The Economic Times

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The Economic Times

Dollar steady as Middle East peace hopes recede

Middle East conflict fears are keeping the U.S. dollar steady as oil prices climb. Investors worry about renewed hostilities and their impact on inflation, potentially delaying interest rate cuts. While diplomatic efforts show little progress, markets remain cautious, awaiting key U.S. inflation data and President Trump's China visit.

The Economic Times

House lawmakers introducing bill to toughen US ban on Chinese vehicles

U.S. lawmakers are introducing legislation to strengthen the ban on Chinese automakers entering the American market, building on a Biden administration regulation. This move, citing national security and data privacy concerns, aims to prevent Chinese vehicles with advanced connectivity and software from being sold in the U.S.

The Economic Times

Gold rises with US–China talks, MidEast conflict in focus

Gold prices climbed as investors awaited crucial meetings between U.S. President Trump and Chinese President Xi Jinping, while also monitoring the fragile ceasefire negotiations with Iran. Market participants are also anticipating U.S. CPI data to gauge the Federal Reserve's future interest rate decisions.

The Times of India

Trump's China visit: US President eyes 'great things' for both countries — what's on agenda

US President Trump expressed optimism for his upcoming visit to China and meeting with President Xi Jinping, anticipating positive outcomes for both nations. Accompanied by prominent business leaders, Trump aims to discuss trade, Iran, tariffs, and AI, seeking to strengthen US economic and national security interests.

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The Economic Times

Frustrated Trump learns he doesn't have the cards on Iran

President Trump faces challenges with Iran. His approach has not yielded desired results. The conflict has impacted global oil prices. Americans are concerned about rising costs. Trump's upcoming trip to China occurs during this difficult period. Experts suggest his leverage is diminished. The situation highlights the complexities of international relations…

The Guardian - US

Mayor of California city resigns over charges of being a foreign agent of China

Eileen Wang, 58, mayor of Arcadia, agreed to plead guilty over the felony count brought by the US justice department

The Economic Times

US issues new sanctions over Iran's oil shipments to China

The U.S. has imposed sanctions on three individuals and nine companies, including entities in Hong Kong and the UAE, for facilitating Iran's oil shipments to China. This move aims to disrupt funding for Iran's Islamic Revolutionary Guard Corps and its weapons programs. The sanctions follow previous actions and precede a…

The Economic Times

Former California mayor secretly worked for China? Ex-Arcadia mayor Eileen Wang pleads guilty in propaganda case tied to Beijing

Eileen Wang: Former Arcadia Mayor Eileen Wang has pleaded guilty to acting as an illegal foreign agent for the Chinese government. She secretly worked with Chinese officials between 2020 and 2022, using a website called "U.S. News Center" to spread propaganda and promote China's messaging.

The Independent UK

Trump and Xi dialed down the trade war, but challenges lurk at their China summit

President Donald Trump claims America is profiting from trade with China despite tensions over rare earth minerals, tariffs and emerging technologies like AI

The Guardian - UK

The big questions hanging over the Trump-Xi meeting in China

Taiwan, tariffs and the strait of Hormuz are on the meeting’s agenda for Beijing – but will the US president be forced to ask for help in ending his war with Iran?

The Independent UK

Iran war quagmire threatens to leave Trump with little from China trip besides ballroom envy

ANALYSIS: The president’s visit with Xi Jinping was meant to be a moment of triumph, writes Andrew Feinberg, but it will instead present an optics nightmare amid rising prices due to his unilateral military action

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