All of this happened in China this week. A thread 🧵1/10

Lasting Support. China’s top diplomat told Iran that cooperation between the two nations will last after Tehran's launched a missile and drone attack on Israel. Foreign Minister Wang Yi also noted Iran was "exercising its right of self-defense." 2/10

Mixed Story. China reported faster-than-expected economic growth in the first quarter with GDP hitting 5.3%. But most of that bounce came in the first two months suggesting that without more stimulus momentum will fade. 3/10

German Visit. Xi and his deputies pushed back on criticism of China's surging clean-technology exports and unfair treatment of foreign firms by the German chancellor. Scholz made the comments on a visit to the Asian nation with a business delegation. 4/10

More Probes. The European Union is set to launch an investigation on China's medical device procurement. That risks triggering fresh tensions with Beijing after it opened a probe into the nation's electric-vehicle subsidies. 5/10

Steel Tariff. China slammed a US plan to impose 25% tariffs on its steel and aluminum products. Biden's proposed restrictions are part of a bid to woo union workers ahead of the US election and would impact just a sliver of the overall market. 6/10

Layoffs. Morgan Stanley is planning its biggest round of China job cuts in years. China and Hong Kong bankers account for at least 80% of the roughly 50 investment bankers in the Asia-Pacific region who may lose their jobs. 7/10

Firewall. Apple pulled social media services like WhatsApp and Threads from its Chinese app store following orders from Beijing to close more loopholes in the nation's firewall. Messaging platforms like Telegram and Signal have also been removed. 8/10

Don't Fight The Fed. It's getting harder for Beijing to deliver stimulus via lower interest rates. That's because the widening US-China yield gap is pressuring the faltering yuan which the PBOC is working hard to defend. 9/10

More Talk. US defense chief Lloyd Austin spoke with his Chinese counterpart Dong Jun for the first time since the latter's appointment by Beijing. The discussions are part of efforts to stabilize ties. 10/10

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