Politburo study session; Export controls on key semiconductor elements; Yellen to China; New PBoC head; 两个结合
Note: The newsletter is off Tuesday July for the US July 4th holiday, back in your inboxes July 5th.
Summary of the Essential Eight:
Politburo study session on theoretical innovation - After the publicized Politburo meeting the body met for a study session on “opening up new frontiers in adapting Marxism to the Chinese context and the needs of the times”. One of the key theoretical innovations that is now the subject of a massive propaganda effort is the “Second Integration [official translation of 两个结合]” - “integrating the basic tenets of Marxism with fine traditional Chinese culture”. This seems to be part of the efforts to make Xi Jinping Thought everywhere and for everything into the foreseeable future.
Export controls on Gallium and Germanium - The Ministry of Commerce announced that starting August 1 licenses will be required for exports of Gallium 镓 and Germanium 锗 and related compounds. There is no indication that licenses will not be granted, but this is clearly a response to …