Xi at BRICS; Real Estate; Huawei chips; Not everyone can be a cadre
Xi reappeared for the dinner after he missed the BRICS business forum, so whatever was going does not appear to have been anything serious.
Summary of today’s Essential Eight:
Xi speech to BRICS - He hit on the expected themes, no mention of the US explicitly but clearly criticizing the US in many places and laying out an alternative view for how the world should be structured. And he again leaned towards Putin’s side in discussing Ukraine - “All nations long for a sound security environment. International security is indivisible [国际安全不可分割]. Attempts to seek absolute security at the expense of others will eventually backfire. The Ukraine crisis has evolved to where it is today because of complex reasons.”
Huawei rebuilding its chip-making capacity - Bloomberg has a report on an April presentation by the Semiconductor Industry Association (SIA) to its members discussing five companies Huawei has set up and/or is using to rebuild its chip capacity, despite the US ex…