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Photo by THE CHINA NOW Pop Mart, the popular toy company known for its surprise “blind box” collectibles, has seen its stock price tumble after Chinese state media raised concerns about how the toys are being sold. The drop came after the People’s Daily, the official newspaper of the Communist Party, warned that these kinds of toys might be too addictive - especially for kids. Why China Is Worried Blind boxes are toys sold in sealed packaging, so buyers don’t know which figure they’ll get. This encourages people to keep buying until they collect rare versions. According to experts quoted in the People’s Daily, this kind of marketing uses psychological tricks that are risky for children, who may not have the self-control to stop. Last year, China banned selling blind boxes to kids under eight years old. Now, officials may be considering even stricter rules. Although the People’s Daily didn’t mention Pop Mart directly, the company is clearly the biggest name in the blind box business, especially known for its hit Labubu dolls. According to People’s Daily, this kind of marketing uses psychological tricks that are risky for children, who may not have the self-control to stop. What Happened to Pop Mart’s Stock After the article was published, Pop Mart’s shares fell by 8.8% in two days, losing nearly US$3.9 billion (28.8 billion yuan) in value. Still, the company is valued at around US$41 billion (306.4 billion yuan) - more than the companies behind Hello Kitty, Barbie, and Transformers combined. Adding to the trouble, the resale price of its once-scarce Labubu 3.0 toy has dropped sharply. It used to sell for up to 3,000 yuan (about US$417), but after Pop Mart restocked it online, it became easier to find - and less valuable. Strong Growth Outside China Even with the recent news, big banks still see Pop Mart’s future as bright. UBS expects the company’s profit to grow 35% per year over the next two years, thanks to strong demand for its toys and a growing lineup of characters. JPMorgan also gave the company a positive rating, comparing Labubu’s popularity to Hello Kitty. Pop Mart is expanding quickly outside China too. In the first quarter of this year, its sales doubled at home and jumped 480% in other countries, from Southeast Asia to the Middle East.

Photo by FMT This week, President Trump signed an executive order giving TikTok yet another 90-day extension to continue operating in the United States. It’s the third time since January that the deadline to force a sale or ban of the app has been pushed forward. TikTok’s parent company, the Chinese tech giant ByteDance, is still expected to divest its U.S. operations — but with no deal in place and Beijing's approval far from guaranteed, it’s unclear what this extension actually achieves. For now, TikTok’s 170 million American users can continue scrolling, posting, and creating. But behind the scenes, the legal, political, and geopolitical risks remain entirely unresolved. A Law With No Teeth The push to remove TikTok from Chinese ownership began with bipartisan concern over national security and data privacy. Lawmakers worry that ByteDance, as a Chinese company, could be pressured to share U.S. user data with Beijing. As a result, the U.S. passed legislation mandating a forced sale — or a ban. But so far, the law has been more symbolic than effective. But so far, the law has been more symbolic than effective. Each time the deadline nears, it’s quietly extended. While this avoids immediate backlash — especially from creators and young voters — it also signals to allies and rivals alike that enforcement may not be coming anytime soon. The law exists, but it’s stuck in political and legal gridlock. Beijing Holds the Real Power Even if a U.S. buyer for TikTok emerges — which is far from certain — any sale involving the platform’s core technology would require approval from China. That’s because TikTok’s algorithm, the engine behind its “For You” feed, is now classified as a restricted export under Chinese law. These rules were updated in 2020, and they directly target the kind of personalized content technology that TikTok uses. ByteDance can’t legally sell TikTok’s full U.S. version without the algorithm — and the algorithm can’t be sold without Beijing’s green light. So even if the U.S. administration insists on a sale, it might be pushing for a deal that China won’t allow. TikTok Isn’t Waiting While governments stall, TikTok keeps building. The company is launching AI video tools, expanding in Europe, and deepening its global presence. In the U.S., its influence remains massive — not just culturally, but politically. Even Trump himself uses the app and has over 15 million followers on it. For creators, brands, and everyday users, the extension is a relief. But the bigger question lingers: how long can a platform this powerful remain in legal limbo? So Why Doesn’t It Matter? This 90-day extension might feel like progress, but it’s more like a timeout with no game plan. The structural issues — national security concerns, algorithm export controls, geopolitical rivalry — haven’t changed. If anything, they’ve hardened. With each extension, the U.S. appears less certain about how to handle foreign tech threats, and China’s leverage over the deal becomes more apparent. What matters most is not how many days TikTok gets, but who ultimately controls the technology behind it. As of now, that answer hasn’t changed — and this extension hasn’t brought it any closer.

China’s top political publications are raising concerns that efforts to crack down on excessive government banquets may be hurting the country’s food and beverage sector. In May, new national rules were introduced to promote frugality within party and government departments. These regulations banned high-end meals, cigarettes, and alcohol during official functions. But now, state media outlets say local officials may be enforcing the rules too aggressively.

Photo by FMT Summary Tesla halts importing its Model S and Model X vehicles to China due to a sharp increase in tariffs. New Chinese tariffs of 84% on U.S.-made products have made these models too expensive compared to local competitors. Tesla will focus on selling locally made Model Y and Model 3 vehicles from its Shanghai Gigafactory. In a significant shift, Tesla has decided to stop accepting orders for its U.S.-made Model S and Model X vehicles in China, citing an unsustainable rise in import tariffs. This decision follows China’s recent tariff hike, which raised the import duties on American-made products to 84%, placing the luxury electric vehicles out of reach for most Chinese consumers.

Photo by FMT Summary Morgan Stanley warns that the escalating U.S.-China trade war could threaten the recovery of China's corporate earnings. Companies heavily reliant on U.S. exports, like BYD Electronics, Lenovo, and Luxshare Precision, have faced significant stock declines in response to new tariffs. The trade war, marked by reciprocal tariffs, threatens China’s economic growth targets, with the potential for a 10% tariff to undermine the country’s 4.5% growth forecast. Morgan Stanley has issued a warning that China’s corporate earnings recovery could be in jeopardy as the U.S.-China trade war intensifies. The investment bank cited the latest round of tariff increases, which have created uncertainty in the financial markets and dampened growth expectations for Chinese firms in 2025.

Photo by FMT Summary Xi Jinping warns China will not back down in the face of "unreasonable" actions, specifically regarding U.S. tariffs. During his meeting with Spanish Prime Minister Pedro Sanchez, Xi called on the EU to join China in resisting U.S. trade pressure. China has retaliated with a 125% tariff on U.S. goods, escalating the ongoing trade dispute. Chinese President Xi Jinping has firmly stated that China will never back down when faced with “unreasonable” actions, specifically referring to the escalating U.S. tariffs. In a speech delivered during a meeting with Spanish Prime Minister Pedro Sanchez, Xi highlighted the economic and diplomatic tensions stemming from U.S. trade policies, marking a notable moment in the ongoing trade war between the two largest economies.

Photo by FMT Summary China has raised tariffs on American goods to 125%, matching the U.S. tariff rate on Chinese goods. China has declared it will ignore any future U.S. tariff hikes, calling them economically meaningless. Beijing warns of further countermeasures if the U.S. persists in harming China’s interests. In an escalating trade battle, China has raised tariffs on American goods to 125%, matching the tariff rates imposed by the U.S. on Chinese imports. The move intensifies the ongoing economic confrontation between the two countries, with Beijing vowing to disregard any future tariff hikes by Washington.

Photo by FMT Summary China has announced a 50% tariff on all U.S. imports, bringing its total tariff level to 84%, in response to U.S. tariff increases. The move is part of escalating trade tensions between the U.S. and China, with both countries imposing significant tariffs on each other's goods. China has pledged to introduce supportive policies in response to these external shocks, signaling its determination to protect its economic interests. In a swift and forceful response to U.S. President Donald Trump’s latest round of tariff increases, China has announced a 50% tariff on all American imports. This move, effective Thursday, adds to the already existing tariffs, bringing China’s cumulative additional tariffs to 84%. The decision marks a significant escalation in the ongoing trade war between the world’s two largest economies, signaling a deeper decoupling of their economic ties.

Photo by Jorge Láscar Summary Apple, Tesla, and Walmart are among the U.S. firms facing significant challenges from the latest tariffs imposed by President Trump on Chinese imports. Analysts estimate Apple could see a 9% reduction in its gross margin if it cannot secure an exemption from the new tariffs. The new tariffs are part of President Trump's "Liberation Day" measures, which have escalated the ongoing U.S.-China trade conflict. The latest round of tariffs imposed by U.S. President Donald Trump on Chinese goods is beginning to severely impact some of America’s largest multinational companies, including Apple, Tesla, and Walmart. These firms, which have long depended on China for manufacturing and production, are now facing rising costs and financial uncertainty as tariffs continue to escalate.

Photo by FMT Summary U.S. President Donald Trump has suggested that China could receive tariff relief if it approves a deal regarding TikTok’s future in the U.S. The announcement comes as the deadline for a TikTok deal looms, with the company facing pressure to find a non-Chinese buyer by April 5. This move is part of Trump’s broader strategy to use tariffs as a tool in international negotiations, including resolving the ongoing tensions over the popular app. As the deadline for a potential resolution on TikTok approaches, U.S. President Donald Trump has indicated that China could see a reduction in tariffs if it approves a sale of the app. This offer, made in a statement aboard Air Force One, co mes as part of an ongoing negotiation process regarding the future of TikTok, which has been caught in the middle of U.S.-China trade tensions.

Photo by FMT Summary China has announced a 34% tariff on American goods in retaliation to similar U.S. tariffs on Chinese imports. The Chinese Ministry of Commerce condemned the U.S. tariffs as "unilateral bullying" and called for fair dialogue to resolve trade disputes. This move marks the latest escalation in the ongoing trade tensions between the two largest global economies. In a major escalation of trade tensions between the United States and China, China has announced that it will impose a 34% tariff on American imports. This decision follows the U.S.’s move to impose a 34% tariff on Chinese imports earlier this week, creating a retaliatory cycle that further deepens the trade conflict between the two largest economies in the world.

Photo by FMT Summary China was the European Union's largest car importer for the third consecutive year in 2024, with car imports valued at USD 13.9 billion. Despite the EU’s recent tariffs on Chinese electric vehicles, the country’s car exports continue to rise, making China the largest auto exporter globally. The EU’s exports to China have been shrinking, with a cumulative decline of 22% over the past six years. In 2024, China retained its position as the European Union’s largest car importer for the third straight year, with imports totaling USD 13.9 billion. Despite the imposition of additional tariffs by the EU on Chinese electric vehicles, the value of Chinese car imports continued to grow, reflecting the increasing demand for Chinese-made vehicles in the European market.