Historical Atlas: 12 Maps Covering 12,000 Years of History -CSIS [h/t @Interneconomics]

What’s so controversial about China’s new anti-corruption body? Digging into the National Supervision Commission China's new National Supervision Commission is charged with fighting corruption, but it is answerable only to the Chinese Communist Party. As such, the operation of this new branch of government seems at odds with Xi’s law-based governance ambition -Brookings

New York, Paris ... Greater Bay Area? Beijing’s big idea to transform southern China The central government is close to revealing the details of a plan to weld nine cities, including Hong Kong and Macau, into an innovative engine of growth -SCMP

Don’t Fear China’s Industrial Juggernaut Efforts to make champions of entire sectors often fail, as Japan showed in the 1980s. -Bloomberg

S.Korea, U.S. to announce suspension of major military drills this week -Yonhap

Japan's defense minister says U.S.-South Korean military drills 'vital' -Reuters

Abe-led panel adopts new visa plan to accept 500,000 low-skilled laborers by 2025 Challenged by the ongoing population crisis, Japan may be finally and quietly trying to change its strict immigration policy to accept more low-skilled foreign laborers. -The Japan Times

What’s Next for the India-Russia Strategic Partnership? A closer look at the trajectory of an important relationship. -The Diplomat

Vietnam Upgrades Spratly Islands Outposts in Broiling South China Sea -The News Lens



YOUR TARIFF EXPOSURES USTR Issues Tariffs on Chinese Products in Response to Unfair Trade Practices This list of products consists of two sets of U.S tariff lines. -USTR

THE FIRST SET contains 818 lines of the original 1,333 lines that were included on the proposed list published on April 6. These lines cover approximately $34 billion worth of imports from China. USTR has determined to impose an additional duty of 25 percent on these 818 product lines after having sought and received views from the public and advice from the appropriate trade advisory committees. Customs and Border Protection will begin to collect the additional duties on July 6, 2018.

List 1 here.

THE SECOND SET contains 284 proposed tariff lines identified by the interagency Section 301 Committee as benefiting from Chinese industrial policies, including the “Made in China 2025” industrial policy. These 284 lines, which cover approximately $16 billion worth of imports from China, will undergo further review in a public notice and comment process, including a public hearing. After completion of this process, USTR will issue a final determination on the products from this list that would be subject to the additional duties.

List 2 here.

China cries foul and imposes its own 25% levy on US goods Beijing sees Washington as 'flip-flopping' on trade stance -Nikkei

US Senate showdown on Trump's ZTE deal set for Monday Congress seeks to keep ban on Chinese phone company over White House objections -Nikkei

LINKED Qualcomm-NXP deal still waiting for China nod: sources -Reuters

How startups should deal with the stringent cybersecurity laws in China Data transfer abroad must obey strict rules CIIOs must now undergo a thorough security self-assessment and seek authority approval prior to any cross-border personal data transfers. Network operators must also complete a security self-assessment, but unlike CIIOs, authority approval is not mandatory (the data volume is below a certain threshold). -Tech-in-Asia

DATA LOCALIZATION New cyberlaw puts pressure on foreign tech companies, sparks fears of censorship and market stifling (Vietnam). Legislators have voted for a controversial new internet security law that has set off concerns about online censorship and economic harm. It requires foreign tech companies like Facebook to store data of Vietnamese users in the country, open local offices, and comply immediately with government orders to take down content deemed offensive. -Reuters

Vietnam is home to approximately 55 million social media users, and is one of the most active countries for Facebook.

Grapes of wrath: dark clouds for Australian winemakers as China ties sour Diplomatic quarrels between Canberra and Beijing are spilling over into the business world, threatening to upset the rising star of Australian exports: wine -SCMP

Nissan doubles down on emerging markets as U.S. sales slow Nissan is now looking to China, the world’s biggest car market, and other regions such as the ones it clubs as Africa, Middle East and India, to boost growth while trying to improve profitability in North America. -Reuters

Japan's home-sharing landscape takes shape with new law Clarified rules bring in new entrants while others seek more profitable options -Nikkei

India farmers sow unapproved Monsanto cotton seeds, risking arrest -Reuters

Japanese firm cashing in on growing gas demand in Nepal Saisan Co., a distributor of liquefied petroleum gas, or LPG, has formed Gas One Nepal Pvt., a joint venture with a local partner, becoming the first foreign participant in Nepal’s LPG market besides firms from neighboring India. -The Japan Times


Trade Wars Don't Matter, Unless You Think $2 Trillion Matters -Bloomberg

International fund managers turn to financials, tech as trade worries rise -Reuters

TECH SUPPORT Smartphone maker Xiaomi’s IPO poised to become fastest ever approved in China Analysts say the fast-track application is a clear sign that Beijing is determined to bolster domestic listings of big technology firms -SCMP

GEOPOLITICAL RISK IS A FICKLE FRIEND/FOE Hedge Funds Pick the Wrong Time to Go Big on Gold as Prices Drop Even rising trade tensions between the U.S. and China that sent equities and bond yields tumbling Friday weren’t enough to boost gold’s haven appeal as the metal fell the most in 18 months. Geopolitical risks that previously supported prices are also fading after President Donald Trump met with North Korean leader Kim Jong Un. -Bloomberg

Mekong nations get started on their own infrastructure fund China intimates that it must be involved in the five countries' efforts Situated in a strategic location between the Pacific and Indian oceans, the five Southeast Asian Mekong nations for decades have drawn investment and development aid from big countries outside the region. But much of this largess has come with political strings attached. -Nikkei

Under new leader Mahathir, China’s infrastructure projects in Malaysia are under threat -The Japan Times