The 2022 Winter Olympics are just around the corner, with the lead up and the event itself looking likely to be as action-packed and cliff-hanger focused as the games themselves. The Biden administration this week stated categorically that there is no discussion in progress with other countries about a coordinated boycott, but only after an official appeared to suggest there was. There have been calls to both Germany and Japan from Beijing to suggest that sports and politics don’t mix well, and the Japanese Prime Minister is due to meet with Biden in Washington next week. So at least everyone is talking to everyone else. But then there’s the mindset of Millennials and Generation Z, the age group of the athletes, how they see the world, and how that might impact on the Games themselves. And to what extent do US and European corporate sponsors feel like they are walking on thin ice these days? The internet has sparked so many changes, this is just one of them.
Meanwhile, the decoupling process appears to be continuing apace—the US added seven more Chinese companies to the list of entities subject to export controls, the Philippines said it might seek support from the US over its position in the SCS, and members of the US Senate Foreign Relations Committee introduced legislation—the Strategic Competition Act—which takes a view on China, and would likely have significant implications if passed into law.
And finally, The Chinese economy seems to be chugging along well, although inflationary pressures are increasing.
Enjoy the weekend.