China's Pressure on American Companies in China

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Dmitry Sevastapilo is the FT's US-China correspondent. He says China may be putting pressure on American companies in China to retaliate for some of the tough economic measures that the Biden administration has taken against Chinese companies. South Korean companies are very, very important in the chip market in China and if Samsung and SK Hynix play ball with the Americans, it helps them a lot. Inflation in Iran has become kind of a mystery. The country's statistics agency hasn't published new data in two months. This fuels accusations that the government is hiding evidence showing that prices have spiraled to record levels.

At least three large banks have submitted bids to buy all or parts of First Republic, the US is urging South Korea not to fill China’s semiconductor shortfalls if Beijing bans Micron chips, and Iran’s statistics authorities have kept inflation data under wraps for the last two months. Plus, mining companies are willing to go to the bottom of the ocean for rare and precious resources.

Mentioned in this podcast:

JPMorgan, Citizens and PNC submit bids for First Republic

US urges South Korea not to fill China shortfalls if Beijing bans Micron chips

Iran keeps inflation data under wraps

‘Playing with fire’: the countdown to mining the deep seas for critical minerals

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Katie McMurran, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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