China

Second Canadian missing in China, foreign minister says

Canadian foreign minister
Canadian foreign minister Chrystia Freeland. Photo: Martin Ouellet-Diotte/AFP/Getty Images.

Canadian Foreign Minister Chrystia Freeland said Wednesday that Canada is trying to gain access to a Canadian ex-diplomat and employee of the International Crisis Group who was reportedly detained by Chinese security services in Beijing. She also revealed that the government has been unable to reach a second Canadian who was questioned by Chinese authorities.

Why it matters: This all comes after Canada arrested Meng Wanzhou, CFO of Chinese tech giant Huawei. Meng was released on bail yesterday, but faces extradition to the U.S. on fraud charges tied to the alleged evasion of U.S. sanctions on Iran. It's unclear what the connections are between these cases and the Huawei incident, but China had warned of "serious consequences" if Meng was not freed.

Report: China considers rethinking "Made in China 2025"

Xi Jinping
Chinese President Xi Jinping. Photo: Fred Dufour - Pool via Getty Images

The Chinese government is preparing to replace its "Made in China 2025" plan — an ambitious blueprint designed to drive manufacturing growth by raising the target market share for domestic products — with a new program that would allow for more participation by foreign companies, the Wall Street Journal reports.

Our thought bubble, via Axios contributor Bill Bishop: This is a huge deal — if China is really serious about making substantive changes to this plan, rather than just repackaging it. Only time will tell, but given the history of failed promises of reform and better access for foreigners, people should be wary until Beijing actually delivers. If real changes are made, however, then it's definitely a win for President Trump, foreign firms, and, frankly, the Chinese economy.

More stories loading.