Our explainer: www.wsj.com/world/asia/f...

President Trump on Truth Social said China announced it would "impose large scale Export Controls on virtually every product they make, and some not even made by them." China said Sunday it is "confident that the impact will be very limited." That discrepancy will have to be sorted out somehow.

Annex 1, Part II, section I, sub-section 4 says, "Parts, components or assemblies that contain any of the above materials." Does that mean any product, even a car, that contains some rare earths is subject to export controls? Or is it limited to parts or collections of rare-earth materials?

What, you may ask, is in Annex 1? Here are the key sections:

Here is the key provision (translation by ChatGPT).

Further: www.wsj.com/articles/BL-...

Is it a policy “win” if the government rather than the private sector captures the paper gains from surging equity values? Ever since the BOJ’s ETF decision I’ve been going in circles trying to figure that out.

Clear writing with a clear point is unfortunately not always the rule at Nikkei so props to the veteran Ōishi.

No surprise if you’re Chinese, perhaps. I found the film dreadful—like watching someone play a maddening videogame—and walked out halfway through. But folks told me that if you know Chinese language, culture and folklore, it’s a lot more entertaining.

Higuchi Ichiyo’s 1895-96 novella Takekurabe, translated by Robert Lyons Danly as “Child’s Play,” is set in Yoshiwara and captures some of those contradictions.