APAC MONDAYS

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APAC | GEOPOLITICAL RISK

Xi Jinping’s take on communism offers alternative to decline of the West In reviving Karl Marx’s ideals 200 years after his birth, the Chinese president is directing his nation to embrace a new model of governance -SCMP

HARDLINE Concern grows over Beijing stifling resurgent Hong Kong Prosperity serves China's interests, but talk of independence risks crackdown -Nikkei

OR??? SOFTLINE IN HK Is Beijing softening its tone towards Hong Kong on major policies? But underlying message is clear: that the central government expects reciprocal understanding and goodwill from the city -SCMP

10 YEARS ON China Blocks a Memorial Service to Sichuan Earthquake Victims -NYT

Xi Jinping and Narendra Modi have jump-started a new era in China-India ties A meeting in Wuhan that lowered temperatures on the China-India border will be remembered as the moment the countries began a fresh, virtuous cycle in relations -SCMP

Trump to meet Abe after talks with North Korea's Kim Frequent contact aimed at demonstrating close coordination but bears risks -Nikkei

Japan: From Gunboat Diplomacy to Coast Guard Diplomacy In postwar Japan, the coast guard has taken a leading role in defending maritime interests. -The Diplomat

US concerned over PRC’s moves to alter ‘status quo’ -Taipei Times

Mahathir, Anwar step in as tensions flare within Malaysia's ruling alliance Malaysian Prime Minister Mahathir Mohamad and jailed politician Anwar Ibrahim tried to ease a rift within the ruling alliance on Sunday (May 13) after differences erupted between their supporters over Cabinet positions. -The Straits Times

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GLOBAL BUSINESS

RECIPROCITY Foreign investment bill targeting China heads for Senate panel vote -Reuters

“As China has increasingly weaponized investment, it’s a national security imperative to strengthen the interagency review process to safeguard military and dual-use technology and know-how,” he said in a statement that accompanied the release of the proposed changes.

PODCAST OF THE WEEK Chinese Investments in the US Face Growing Scrutiny: A Conversation with Mario Mancuso -CSIS

READ A Dealmaker’s Guide to CFIUS: Answers to Common Questions from Boards, Bankers and Investors

5G is the real reason the US is so afraid of Huawei -BGR

How I learned to stop worrying and love Chinese courts We may all have to take Chinese courts more seriously. Companies along the Belt and Road certainly will -SCMP

Macau Tycoon Gets 4 Years in Prison for Bribing U.N. Diplomats The developer, Ng Lap Seng, 69, was convicted in Federal District Court in Manhattan last July on two counts of violating the Foreign Corrupt Practices Act, one count of paying bribes, one count of money laundering, and two counts of conspiracy. -NYT

India has an AI plan—but it’s a long way from catching up with China and the US India is the latest country to announce a national AI initiative. But AI’s leading countries are unlikely to let another player muscle in on their turf. -MIT Technology Review

Walmart may launch IPO for Flipkart in as early as four years -Reuters

Airline threats will not work The US Department of State on April 27 rebuked Beijing for the threats it made to two US airlines over the way they list Taiwan on their Web sites, saying: “We object to Beijing dictating how US firms, including airlines, organize their Web sites for ease of consumer use.” -Taipei Times

GAME ON US to allow private investment to help North Korea develop infrastructure after denuclearization The United States will allow private American investment to help North Korea build an energy grid and develop infrastructure if the isolated country destroys its nuclear programme, US Secretary of State Mike Pompeo said on Sunday. -The Straits Times

Explaining KYC, and why fintech startups need to know about it But not anymore – businesses now need to undergo due diligence checks, such as declaring funding sources. There have been stricter regulations, which led to the increased importance of know-your-customer (KYC) processes for businesses. -Tech in Asia

Foreign Workers Under Fire Ahead of Indonesian Presidential Election Employing foreigners is a topic that divides the nation, making it the perfect campaign issue. -The Diplomat

Should Mahathir Mohamad’s win worry Chinese investors in Malaysia’s Forest City? The project on reclaimed land has been popular with middle-class Chinese looking for a second home abroad but it has also been the target of the new prime minister’s ire -SCMP

Myanmar allows full foreign ownership in retail and wholesale Suu Kyi's government accelerates economic reform to attract investment -Nikkei

GLOBAL MACRO

Mahathir's return as PM may spur moves in these Malaysian stocks Brace for a volatile day when Malaysia's stock market reopens on Monday (May 14) after a three-day break that saw the opposition party win office for the first time in six decades. -The Straits Times

The Fishing Port That May Become a $10 Billion Chinese Debt Bomb -Bloomberg