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In Weapons Tests, North Korea Revives an Old Playbook, With a Strategic Twist In the weeks before North Korea fired rockets and guided weapons on Saturday, President Trump countermanded the Treasury Department, reversing an announcement that it was tightening economic sanctions against the country. -NYT

China's hypersonic weapons leave US defenseless, for now -The Hill

China’s Selective Memory This year’s anniversaries of the 1919 and 1989 student protests in China will again highlight the Chinese authorities’ contradictory attitudes toward the two movements. As the People’s Republic looks ahead to the 70th anniversary of its founding this October, the country continues to reckon with its own history. -Project Syndicate

Japan and Vietnam agree to promote defense cooperation The two nations will promote exchange programs for their defense industries while Japan’s Maritime Self-Defense Force vessels will make port calls in Vietnam -The Japan Times


YOUR CREDIT IS ONLY GOOD HERE Party Loyalty in China Helps Private Companies Get Cheaper Loans A new government program offers low-interest “red loans” to firms supporting the Communist cause. -Bloomberg

Digital or Trade? The Contrasting Approaches of China and US to Digital Trade -Journal of International Economic Law

GEOPOLITICAL RISK ON South Korea's Lotte to resume $2.6 billion China project after missile row Lotte Group said on Thursday it would resume work on a $2.6 billion real estate project in China this month, after work was halted following the South Korean firm’s decision in 2017 to offer land in South Korea for a U.S. anti-missile system. -Reuters

I Drank Myself to the Bottom of Luckin Coffee's IPO The financial taste test says this company is selling tech-bubble Kool-Aid as much as espressos and lattes. Like any good purveyor of addictive substances, its twist on that model has been to hand out free coffee. The U.S. listing of a Chinese company that gives away stuff makes for the perfect mashup of socialism and capitalism.-Bloomberg

Japan sales tax to rise as planned: ruling party heavyweight Senior LDP official Katsunobu Kato acknowledges need for additional stimulus -Nikkei

PODCAST OF THE WEEK How I Made $8,000 per Month Podcasting, and Why You Probably Don’t Want To -Disrupting Japan

60% of foreigners working Taiwan's tech industry are Filipinos At over 60 percent, Filipino workers comprise the majority of foreign workers in Taiwan's electronics and technology industry, and many Taiwanese companies are shifting production from China to the Philippines. -Taiwan News

VN poised to become manufacturer of established global brands -VNews

Buffett-owned footwear maker moves output from China to Vietnam Brooks Running fears US tariffs on shoes will surge to 45% as trade talks grind on Brooks Sports will move the bulk of its manufacturing operations from China to Vietnam as the trade talks between Washington and Beijing drag on with no certain conclusion -Nikkei

Rabobank to stop Indonesian operations in June 2020 -Jakarta Post

“The closure of Rabobank International Indonesia will depend on the agreement of the authorities. Its implementation will pay attention to the interests of both customers and employees”

Malaysia set to see new wave of China FDI -The Star


Japan calls on Asian Development Bank to reduce loans to China -The Japan Times

Chinese banks quietly lower daily limit on foreign-currency cash withdrawals -SCMP

·       Lenders have reduced the ‘scrutiny benchmark’ for US dollar withdrawals to US$3,000 from US$5,000 on the instructions of the central bank

·       Chinese banks have increased their scrutiny of foreign-currency withdrawals and quietly reduced the amount of US dollars people are allowed to withdraw, tightening the country’s capital controls

 Leave the Renminbi Out of US-China Trade Talks -Project Syndicate

Canadian farm exports hit new Chinese obstacles amid diplomatic dispute An expanding list of Canadian farm exports is hitting obstacles at Chinese ports, leaving sellers of soybeans, peas and pork scrambling amid a bitter diplomatic dispute. -Reuters

Trump versus Abe -- the trade end game US president struggling to squeeze tough deal out of Japan -Nikkei

India's oil import dependence jumps to 84 per cent -Economic Times