FirstFT: Xi Jinping holds talks with Olympic chiefs on coronavirus containment


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Chinese President Xi Jinping meets with IOC President Thomas Bach Rare face to face An exchange was made with an overseas official as Beijing maintains strict coronavirus precautions ahead of the Winter Olympics in February.

Discussions between Xi, who has not left the country since early 2020, and Bach on Tuesday included a closed-loop system for the Beijing Olympics designed to curb the spread of the virus from Olympic participants to the wider population.

Bach praised China’s “efficiency, determination and dynamism” and said Beijing’s measures would ensure the Winter Olympics were “safe, smooth and successful,” according to Chinese state broadcaster CGTN.

The IOC has come under scrutiny over its ties to China and criticized last year for failing to back calls for an investigation into tennis stars Peng Shuai sexual assault allegations against a former senior Chinese official.

What do you think of the Winter Olympics held in Beijing?tell me your idea [email protected]. Thank you for reading FirstFT Asia.Here’s the rest of the news today – Emily

1. The West pledges to keep NATO open to new members US and NATO tell Moscow they are committed to maintaining transatlantic alliance Open to new membersrejected the Russian central security demands in a written reply that could determine the outcome of the Ukraine crisis.

2. Fed signals rate hike in March to fight rampant inflation Fed expresses interest March rate hikethe first increase since 2018, underscoring the U.S. central bank’s sudden turn to fight rampant inflation rather than protect the economy from the pandemic.

  • More US news: Stephen Breyer, an 83-year-old liberal member of the U.S. Supreme Court, plan to retire this yearaccording to media reports. Sign up for our Swamp Notes Newsletter Get the latest news at the intersection of American politics, power and money.

3. Apple tops the Chinese smartphone market Apple has Reclaims the top spot in smartphone sales It was the first in China in six years as tough U.S. sanctions restricted shipments from rival Huawei. The California company held a 23 percent share of the world’s largest mobile phone market in the fourth quarter of 2021, according to research firm Counterpoint.

4. Banks object to Beijing’s overseas listing rules Asia’s top banking lobby, including Goldman Sachs, Morgan Stanley and JPMorgan, has warned Beijing that the system for Chinese companies listing overseas will be overhauled may prevent them from giving advice An initial public offering, which would jeopardize the source of funding for the country’s leading companies.

5. Amazon drops events designed to attract employees Amazon has dropped the much-maligned campaign Pay employees to share positive messages On social media, delete online messages aimed at improving the tech giant’s image of potential employees for continued growth.

Amazon launches social media program to combat growing hostility to conditions in its fulfillment centers © FT montage/Twitter

coronavirus digest

  • Boris Johnson Wednesday swear he won’t quit As Prime Minister, he is poised to receive a delayed report from senior civil servant Sue Gray on the party to break the lockdown in Whitehall.

  • Korean Consumer Confidence up this monthrebounded from a decline in December and was helped by the ongoing economic recovery from the pandemic.

  • Denmark Be the newest European country Lift almost all Covid curbs And stop characterization of it as a “socially critical” disease.

  • This International Monetary Fund downgrade Its global growth forecast for 2022 warned that the recovery would face “multiple challenges” including higher inflation.catch up Martin Wolf’s takeaway from the report.

  • New variants have been exposed disfunction exist America’s public health agency. “The underlying theme is a lack of flexibility, both in terms of resources and ideology,” one expert said.

the day ahead

Honduras’ first female president sworn in Siomara Castro to be sworn in as first female U.S. president High turnout landslide November.

International Holocaust Remembrance Day Today marks the 77th anniversary of the liberation of Auschwitz in Nazi Germany.

  • View: Earlier this month, the Financial Times’ Sarah Ebner reviewed her experience with a European passport after Austrian citizenship was finally reinstated Families of Nazi Victims.

income On the big day of earnings, companies reporting results include Apple, Deutsche Bank, easyJet, JetBlue, LVMH, Mastercard, McDonald’s, Samsung Electronics, SAP and Visa. We apologize for the misstatement of Apple’s earnings date in yesterday’s edition. They will report from the US on Thursday.

Join us to learn about the future of business education in the FT: The Ultimate Guide to MBA Education for Global Business Leaders. The event provides an ideal opportunity for young professionals and seasoned executives to learn how to improve their skills and accelerate their careers with an MBA. Register today.

What are we still reading and watching

International investors in Chinese companies face increasing risks With real estate companies like Evergrande on the brink of collapse, and the Chinese government’s crackdown on the tech sector, it’s an opportunity Making money worth growing political risk? Discussion by James Kynge, Global China Editor, Financial Times, and Katie Martin, Markets Editor.

When activist investors attack is not a bad thing Activist investor demands—such as those of Unilever and Peloton—can prompt action from self-satisfied executives, force boards to deal with incompetent managers, and question ill-considered mergers. All of these are desperately needed nowthinks Brooke Master.

South Korean cryptocurrency exchange plans to ‘green’ K-pop NFTs The head of South Korea’s largest cryptocurrency exchange Upbit has promised that its non-fungible token featuring K-pop star BTS will “Eco-friendly” After backlash from environmentally conscious young fans.

San Francisco scares away tech crowd due to failure to resolve The epidemic of poverty continues, Startup founders, engineers and venture capitalists are leaving the city. Hannah Murphy writes that if the city wants to reclaim its tech crown, it can’t go on as usual.

You call it a party, Boris Johnson? It’s unclear how long the list of political casualties from the lockdown-violating Downing Street BYOB bash might be, but those who don’t return will ask for the rest of their lives: is it really worth it A warm cup of Merlot and a little cheese wrap? Robert Shrimsley asked.

Lucas Varela for Boris Johnson

© Lucas Varela

work and career

Hybrid jobs are polarizing. but why?In this episode of the Working It podcast, Isabel Berwick talks to Camilla Cavendish and Pilita Clark about why it’s become The most controversial topics in the workplace now.

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