The New York Times reports: "Propaganda departments in China and North Korea were in full swing on Wednesday as Kim Jong-un, the North Korean leader, concluded a two-day tour of China that painted the once-reclusive autocrat as a forward-looking leader. After meeting with President Xi Jinping and briefing him on the summit meeting with President Trump in Singapore last week, the North Korean leader was portrayed in the Chinese state media as eager to learn how to turn a developing nation into a global superpower. In North Korea, a propaganda machine that for decades turned out anti-American slogans and that denigrated South Koreans struck a new conciliatory tone, publishing posters this week that heralded unity on the Korean Peninsula."
Bloomberg reports: "One top fund manager has been shifting to cash since April, worried that trade friction would extend a slump in Chinese stocks. And so far, Yiqian Jiang, head of China equities at Harvest Global Investments Ltd., has been right to be cautious. The MSCI China Index is down 11 percent from a January peak, with losses extending this week as the trade spat between U.S. President Donald Trump and China intensified... Jiang has boosted cash holdings in her flagship fund to the highest level since she started managing the fund three years ago. Recently, cash comprised about 15 percent of assets... Chinese shares tumbled after the U.S. president's latest move, with the MSCI China gauge sinking 3 percent on Tuesday."
The Wall Street Journal comments: "The Chinese government's Made in China 2025 blueprint reveals Beijing's audacious plans to dominate emerging technology industries. Many of these targeted sectors, such as artificial intelligence and robotics, have clear implications for defense. China seeks to achieve its goal of economic and military domination in part by acquiring the best American technology and intellectual property. President Trump's new tariffs will provide a critical shield against this aggression. China acquires American technology in multiple ways. Theft, both physical and cyber, occurs through orchestrated industrial espionage campaigns. For years the U.S. intelligence community has acknowledged China as a persistent leader in economic espionage. Many American companies are forced to accept technology transfers to gain access to the Chinese market."