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Show Notes:

On today’s show Andrew and Bill begin with President William Lai’s inauguration in Taiwan, including the PRC responses we've seen so far, recent activity around Kinmen island, and a Bloomberg report that ASML’s EUV machines can be shut down remotely in the event of an invasion of Taiwan. From there: Friday’s announcement of relief plans for the real estate sector, and more thoughts on the challenges facing policymakers as they look to revive consumer sentiment. Then: Questions on the People's Bank of China, a recent push into gold purchases, EV capacity, tariffs on foreign cars, and the latest Central Committee member to be investigated for corruption. At the end: Temu and Shein inspire a Saturday Night Live skit, and Rep. Mike Gallagher is formally sanctioned by the PRC.

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Related Readings:

New Taiwan President; PRC reactions; Real estate; New bull market in Shanghai?; EU trade threat -- Sinocism 

https://sinocism.com/p/new-taiwan-president-prc-reactions

"Pillar of shame" for Lai; Wang Yi at SCO; Gallagher sanctioned; XiAI; Guo Youcai; Ben Lim -- Sinocism 

https://sinocism.com/p/pillar-of-shame-for-lai-wang-yi-at

Full text of President Lai Ching-te's inaugural address -- Focus Taiwan 

https://focustaiwan.tw/politics/202405200007 

Mainland says Lai sends "dangerous signal" in speech as Taiwan's new leader -- Xinhua 

https://english.news.cn/20240520/d9024fcff39b4a7ba6a97a9dda5804d0/c.html 

China has a point about Taiwan’s new leader -- FT 

https://www.ft.com/content/0e0ed54f-bc40-45b1-ac36-1d8d51035d7d?shareType=nongift

Thousands protest against contentious Taiwan parliament reforms -- Reuters 

https://www.reuters.com/world/asia-pacific/protests-taiwan-parliament-pushes-contentious-reforms-2024-05-21/ 

Record number of Chinese ships enter Taiwan waters near Kinmen island -- RFA 

https://www.rfa.org/english/news/southchinasea/china-kinmen-intrusion-05102024034553.html/ampRFA 

China's property support measures disappoint -- Reuters 

https://www.reuters.com/markets/asia/most-chinese-developers-shares-fall-despite-latest-support-measures-2024-05-20/

What China’s central bank and Costco shoppers have in common -- The Economist 

https://www.economist.com/finance-and-economics/2024/04/11/what-chinas-central-bank-and-costco-shoppers-have-in-common

ASML and TSMC Can Disable Chip Machines If China Invades Taiwan -- Bloomberg

https://www.bloomberg.com/news/articles/2024-05-21/asml-tsmc-can-disable-chip-machines-if-china-invades-taiwan?sref=5KSwFgaY

How China’s EV overcapacity has come to a head after 15 years, and what’s in store for the industrial policy race with US and EU -- SCMP 

https://www.scmp.com/economy/china-economy/article/3262505/how-chinas-ev-overcapacity-has-come-head-after-15-years-and-whats-store-industrial-policy-race-us

China Has Gotten the Trade War It Deserves -- The Atlantic 

https://www.theatlantic.com/international/archive/2024/05/china-tariffs-electric-vehicles-trade-war/678385/

China Hints at Retaliation in Trade Clash With Europe -- Bloomberg 

https://www.bloomberg.com/news/articles/2024-05-18/china-state-media-warns-of-retaliation-on-eu-subsidy-probes?cmpid=socialflow-twitter-business&sref=5KSwFgaY

China Says Agriculture Minister Tang Renjian Is Under Investigation -- Bloomberg 

https://www.bloomberg.com/news/articles/2024-05-18/china-says-agriculture-minister-tang-is-under-investigation?sref=5KSwFgaY

China sanctions former Rep. Mike Gallagher, a fierce critic of Beijing -- NBC News 

https://www.nbcnews.com/news/world/china-sanctions-former-rep-mike-gallagher-rcna153218

Hudson’s Mike Gallagher’s Statement in Response to CCP Sanctions -- The Hudson Institute 

https://hudsoninstitute.cmail19.com/t/i-e-auktutk-tjhhydiyp-y/

Fast Fashion Ad - SNL -- YouTube 

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