The New York Times reports: "President-elect Donald J. Trump on Tuesday named as his chief trade negotiator a Washington lawyer who has long advocated protectionist policies, the latest sign that Mr. Trump intends to fulfill his campaign promise to get tough with China, Mexico and other trading partners. The choice of Robert Lighthizer...to be the United States' trade representative nearly completes Mr. Trump's selection of top economic advisers and, taken together with the president-elect's running commentary on Twitter, underscores Mr. Trump's focus on making things in America. That is causing unease among some Republicans who regard Mr. Trump's views on trade as dangerously retrograde, even as they embrace the bulk of his economic agenda. Mainstream economists warn that protectionist policies like import taxes could impose higher prices on consumers and slow economic growth."
Quartz comments: "It's an open secret China isn't very happy with South Korea at the moment. Since South Korea announced in July that it would let the US deploy amissile-defense system in the country—which Beijing views as a threat to its national security—China has begun a passive-aggressive campaign retaliating against its neighbor. Reports coming from South Korea suggest China is responding economically with moves harming key Korean industries, but it has denied its recent actions are a response to the missile-defense system. Korea, though, is hoping to hash things out, sending eight lawyers today (Jan. 4) to China to begin discussions about its 'retaliatory moves.' "
The Wall Street Journal reports: "State media reported that a gunman burst into a government meeting in the inland city of Panzhihua and opened fire. The shooting injured the city's mayor and Communist Party secretary, and the assailant, identified as the head of the local land and resources bureau, fled and then killed himself, according to a city government statement. State media and the government's statement didn't explain the motives of the gunman, identified as Chen Zhongshu. Panzhihua officials couldn't be reached for comment...The shooting...comes amid a rise in gun-related crimes in China, which has maintained a stringent, decades long ban on owning firearms...the shooting grabbed attention on state and social media. Many expressed surprise, noting that in China, one would have to be a privileged government official to get access to a firearm. Gun violence and the use of firearms to commit crimes are unusual in China, where rules effectively ban all private ownership and police exercise wide authority to question and detain suspects."