Good evening. This week has been all about Kamala Harris, but Congress is gearing up for its so-called ‘China Week’ next month with several China-related bills on the docket. Our cover story takes an in-depth look at the Biosecure Act, which could dramatically reorder the global pharmaceutical supply chain, as well as WuXi AppTec, one of the Chinese companies caught in the crossfire. Elsewhere we have infographics on the China risk in index funds; a Q&A with Ed Conway about how the substances we need for modern life are extracted and produced; a reported piece on China’s port power and its new port in Peru; and an op-ed from Stephen Roach on whether Kamala Harris could be the next Richard Nixon when it comes to China relations. If you’re not already a paid subscriber to The Wire, please sign up here.
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WuXi Waylaid
When Congress resumes next month, the BioSecure Act will be one of its top priorities. The bill is the latest example of the U.S. trying to exorcize China from its supply chains, and it will have a profound effect on WuXi AppTec, the most important drugmaker American patients have never heard of. Eliot Chen reports.
The Big Picture: The China Risk in Index Funds
This week’s infographics by Aaron Mc Nicholas look at the companies listed on the iShares MSCI China Exchange Traded Fund (ETF), a listed tracker fund which has net assets of more than $4.3 billion as well as significant exposure to companies that are majority-owned by the Chinese government.
A Q&A with Ed Conway
Ed Conway is the economics editor at Sky News in the UK. For his new book, Material World: A Substantial Story of Our Past and Future, he traveled the globe to tell the story of six materials — sand, salt, copper, iron, oil and lithium — and how they have become so vital to modern economies. In this week’s interview with Andrew Peaple, he talks about the book’s themes, the trade-offs involved and the fragility of so many of the supply chains, and why he no longer takes this often overlooked world for granted.
Ed Conway
Illustration by Kate Copeland
China’s Port Power
A massive new Chinese-owned port in Peru is set to extend the country’s influence in South America. Eliot Chen reports.
Could Kamala Harris Be the Next Richard Nixon?
The looming superpower clash between the United States and China begs for another strategic breakthrough, argues Stephen Roach in this week’s op-ed.
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