U.S. President Joe Biden said he was Consider a diplomatic boycott In the 2022 Winter Olympics in Beijing, a few days after his first meeting with Chinese leader Xi Jinping, this move will inject new tensions into US-China relations.

On Thursday, Biden spoke with Canadian Prime Minister Justin Trudeau in the Oval Office. When asked whether he would consider taking this initiative, Biden said that diplomatic boycott is “something we are considering.”

Earlier this year, the Biden administration issued several strong statements regarding China’s persecution of Uighurs. Secretary of State Anthony Brinken accused Beijing of “genocide” in Xinjiang, and the regime detained more than 1 million Muslim Uighurs and other ethnic minorities.

In the months before Biden’s statement, his administration had less voice on the Xinjiang issue, which sparked concerns among human rights groups that the US president would downplay his criticism before a virtual meeting with his Chinese counterparts last Monday.

Do you think Biden should propose a diplomatic boycott of the Beijing Olympics?Email me [email protected] Let me know what you think. Thanks for reading FirstFT Asia — Emily

There are five more stories in the news

1. Turkey cuts interest rates despite warnings Turkey Cut interest rates Yesterday, the lira plunged by 6% to a record low, adding to concerns that President Erdogan’s obsession with low borrowing costs will exacerbate already severe inflation.

2. Alibaba warns of slowing consumer spending Alibaba’s U.S.-listed stocks Down by more than 10% After the e-commerce group sharply lowered its sales expectations on the grounds that the growth of consumer spending in China has slowed. In its quarterly results, Alibaba stated that it now expects sales to increase by 20-23% in 2022, compared with its previous forecast of 30%.

3. US states investigate Instagram to target young users At least nine states are reviewing whether Facebook violates state consumer protection laws and “Putting the public at risk” Massachusetts Attorney General Maura Healey said that by promoting Instagram to children and young people, “even though it is known that such use can endanger physical and mental health.”

4. The U.S. Trade Representative says Asia needs “route correction” America needs Carry out “route correction” In the Asia-Pacific region, Katherine Tai stated in an exclusive interview with the Financial Times that Washington tried to re-establish its status as an economic superpower after withdrawing from the trade agreement led by Donald Trump.

5. Paytm shares fell 27% on the first day of trading Shares in Indian fintech company Paytm Dropped by more than a quarter When it first appeared on the stock market, its valuation shrank by $5 billion, which underscored investors’ anxiety about India’s largest IPO in history.

• More market news: Emerging market stocks are Under pressure This is the second consecutive trading day, as concerns about rising global inflation have exacerbated tensions over China’s economic slowdown and tightening of US financing conditions.

Coronavirus Digest

• FT goes inside Gloucestershire Hospital NHS Trust Learn how British health services learned Work in a new way during the pandemic.

• Number of people infected with the new coronavirus U.K Falling But a leading scientist predicts that the effects of this disease will continue for another five years.

• Germany Is one of several European countries that are being introduced New restriction Fight the fourth wave of infections.

• Two studies show high levels Covid-19 infection in wild deer In the United States, people are again worried that the virus will pass Animal population.

Read today’s Provide health care special report On how the coronavirus pandemic is disrupting the world health system, including A video About how the hospital learns to work in a new way.

The days to come

Japan’s economic plan announced Japanese Prime Minister Fumio Kishida is preparing Direct cash distribution As part of the huge economic plan announced today, a subsidy of 100,000 yen ($872) is provided to families with children under the age of 18.

2021 Frankfurt European Banking Conference Christine Lagarde, President of the European Central Bank, delivered a speech 31st Frankfurt Banking Conference Nowadays.

Chilean election Voters will vote on Sunday to determine the country’s new leader.inside Final pre-election poll Conservative candidate Jose Antonio Castel is still the front runner, followed by left-wing candidate Gabriel Boric. (Reuters)

Join us in the Global Board Room from December 7th to 9th to discuss the challenges of establishing sustainable growth in a crisis-changing world. Hear more than 100 influential leaders including Coinbase Chief Policy Officer Faryar Shirzad.sign up for free here Nowadays.

What are we still reading

Open source investigators seek justice in Myanmar Since the military coup, social media has been flooded with photos of people who were assaulted or shot dead.In response, the online store is using Groundbreaking digital forensics Collect criminal evidence to lay the foundation for future trials of crimes against humanity.

How to bridge the valuation gap in the market Understand why market participants differ in their views Young growth-driven companyAswath Damodaran, a professor at New York University’s Stern School of Business, wrote that it is useful to see what they have in common.

How Empty Containers Exacerbate Pressure on U.S. Supply Chains The chronic shortage of truck drivers is plagued the supply chain in the United States, making it difficult for companies to obtain the products they need. But there is another factor in the country’s delivery of goods: Empty container.

Boris Johnson’s Christmas Truce The British Prime Minister hopes that there will be a quiet holiday this year. Domestic economic and political difficulties caused his government to withdraw from the trade confrontation with Brussels over the so-called Northern Ireland Agreement. But does this mark a change in method?

Can guilt help bankers get better? Should financiers feel guilty? If they do, will it make the money world safer?Since the 2008 financial crisis, these and many other problems have appeared, and now The New York Fed is studying this issue In a forward-facing-and geek-like way.

Home and home

Enterprising buyers from all over Asia are hiring local architects and construction companies Building a house in Niseko, Japan’s most popular international ski resort. They have joined more and more permanent residents working in the skiing industry. For them, it is cheaper and more suitable to build a home than buying a second-hand house.