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Theresa Fallon

Apr 23

Amsterdam-based ING is claiming $170mn in damages from Industrial and Commercial Bank of China, alleging it breached contract terms by releasing export documents for copper transactions w/o collecting payment, according to a Hong Kong court filing seen by the @FT.”

New World Disorder:Maike’s financial troubles have added to concerns about the metals trading sector, which has been rocked by a series of frauds. Glencore and other global trading groups stopped supplying Chinese metals merchant Huludao Ruisheng last year after $500mn worth of… twitter.com/i/web/status/1…

Bait & switch used in some markets in🇨🇳are now playing out in international markets & it isn’t pretty. $577mn nickel fraud—stones found in bags instead of nickel.

“Singapore-based trader Trafigura said in January it was the victim of a $577mn nickel fraud, while bags of stones… twitter.com/i/web/status/1…

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Theresa Fallon

@TheresaAFallon

Apr 21

“We know [these tactics] from the Cold War, when the Soviets tried to influence and manipulate the antiwar movements,” said a senior German security official who, like others, spoke on the condition of anonymity to discuss sensitive matters.” washingtonpost.com/world/2023/04/…

Discord files: “The files indicate that on July 13, first Kremlin deputy chief of staff Sergei Kiriyenko assembled a group of Russian political strategists and told them that Germany was to become “the focus” of Moscow’s efforts to undermine support for Ukraine in Europe.”

“campaign even extended to graffiti to be painted on walls across Germany and then photographed and placed in the German press, the documents show. These included a drawing of a fat “Uncle Sam” saying, “Bear it a few more years.” Another depicted German Foreign Minister Annalena… twitter.com/i/web/status/1…

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Theresa Fallon

@TheresaAFallon

Apr 21

China is building sophisticated cyber weapons to “seize control” of enemy satellites, rendering them useless for data signals or surveillance during wartime, according to a leaked US intelligence report.”

Document dump: The US assesses that China’s push to develop capabilities to “deny, exploit or hijack” enemy satellites is a core part of its goal to control information, which Beijing considers to be a key “war-fighting domain”.

“China’s goals, according to the leaked assessment, are far more advanced. They would seek to knock out the ability of satellites, which tend to operate in interconnected clusters, to communicate with each other, to relay signals and orders to weapons systems, or to send back… twitter.com/i/web/status/1…

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Theresa Fallon

@TheresaAFallon

Apr 3

It’s called strategy and Beijing has one.

… “part of a global race for lithium, the alkali metal that is a key raw material for automotive batteries. Securing reliable lithium supply is one of the biggest challenges facing carmakers striving to produce more electric vehicles.”

🇨🇳”has built a dominant position in many of the minerals that are crucial for the energy transition, including cobalt, lithium and rare earth metals. The west is preparing to spend hundreds of billions of dollars to try to catch up.”

Africa’s emergence as a lithium supplier centres on a handful of countries.

Forecast mine output (thousand tonnes of lithium carbonate equivalent) @FT

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Theresa Fallon

@TheresaAFallon

Mar 28

Many policymakers were surprised by how far Chinese researchers penetrated research institutions. “In collaborations, China dominates its relationships with academic partners.”

Total share* (vertical axis) and proportion for top eight research collaborators with China @ft

“Concern is a part of a wider breakdown of trust in some quarters between western institutions and Chinese ones, with some universities introducing background checks on Chinese academics amid fears of intellectual property theft.” @ft

“The proliferation of dubious research that has accompanied China’s emergence as a scientific and technological powerhouse has caught the attention of a number of independent scholars who are policing the country’s output.” @ft

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Theresa Fallon

@TheresaAFallon

Mar 28

We’re on a road to nowhere 🎶🎵.

⁦@JKynge⁩: “China has significantly expanded its bailout lending as its Belt and Road Initiative blows up following a series of debt write-offs, scandal-ridden projects and allegations of corruption.” #BRI

“The global financial architecture is becoming less coherent, less institutionalised & less transparent,” said Brad Parks,exec director of AidData …“Beijing has created a new global system for cross-border rescue lending, but it has done so in an opaque and uncoordinated way.”

“China has declined to participate in multilateral debt resolution programmes even though it is a member of the IMF. Ghana, Pakistan and other troubled debtors that owe large amounts to China are closely watching Sri Lanka’s example.” @ft

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