(Preview) Five US-China (and Russia) Questions; Cabbage with Formaldehyde; The Continuing Tax Crackdown; Unitree Stock Down 45%

On today’s show Andrew and Bill begin with a series of questions on the US and China, including a look at the likely toothless threats implied by Trump’s “Economic D-Day” agenda, China’s role or lack thereof in a breakdown between the US and Canada, questions about the next four weeks and four months of the relationship, and, unrelated to the US, what to watch for as Xi heads to the SCO Summit where he could potentially meet Vladimir Putin. From there: A cabbage scandal in Hebei province and a longstanding concern among both PRC citizens and the party. At the end: How and why the central government is using tax crackdowns to cover local government shortfalls, four People’s Daily articles on the economy, a surprise plenary session of the CCDI, the founder of Evergrande is sentenced to life in prison, and thoughts on what the Party wants from the stock market as Unitree stock loses nearly half its value after an initial IPO pop.

Get all episodes of Sharp China, Sharp Tech, Stratechery Updates and Interviews, Greatest of All Talk, Asianometry and the Dithering Podcast as part of Stratechery Plus for $15/month or $150/year.

Bill Bishop is the author of Sinocism

To email the show: [email protected]

@SharpTechPodcast Channel — YouTube

@Stratechery Channel — YouTube

Scott Bessent threatens Iran’s economic partners with more sanctions — Financial Times

US Eyes China Overcapacity Tariffs of 7.5% Before Xi Visits — Bloomberg

State Dept. Declares U.S. Citizen in China Wrongfully Detained — The New York Times

South Korea Tightens China Cabbage Inspections After Formaldehyde Scandal — Bloomberg

Vegetable Traders Spray Cabbages with Formaldehyde Solution to Keep Them Fresh; Practice Reportedly Used for Three or Four Years — Xinhua

Xi’s Unprecedented Tax Clawback Hammers Chinese Listed Firms — Bloomberg

China Sentences Evergrande Founder to Life in Prison — The New York Times

China robot maker Unitree’s post-listing slump sparks bubble fears — Reuters