China’s central bank injected a net $17 billion into the financial system today, Bloomberg reports. The largest such liquidity boost in eight months was coupled with a statement from Beijing (Bloomberg) that it would work to stabilize market expectations. Speculation that China’s Evergrande Group, a property developer, could default on its debt has sent tremors through world markets in recent days.
 
Evergrande is China’s largest issuer of high-yield dollar-denominated bonds. Both its debt and China’s regulatory crackdowns on sectors such as big tech have raised concerns (SCMP) about the country’s growth prospects among economic forecasters, with both Fitch Ratings and Bank of America downgrading China’s 2021 growth projections this week.

Taiwan applied to join (Nikkei) the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) days after China announced its bid. Beijing said it “strongly opposes” Taiwan’s efforts.
 
This Backgrounder explains why China-Taiwan relations are so tense.

Chinese Foreign Minister Wang Yi called for the measures (SCMP) during virtual talks with his Group of Twenty (G20) counterparts, citing humanitarian concerns.
 
For Foreign Affairs, Seth G. Jones and Jude Blanchette look at China’s Afghanistan dilemma.
 
India/UAE: India and the United Arab Emirates (UAE) hope to sign a formal trade agreement (Hindustan Times) early next year and seek to boost bilateral trade by $115 billion over five years, an Indian trade official said.

President Kais Saied has been under pressure (Reuters) from Western donors to name a prime minister and explain how he will move past a crisis spurred by his suspension of parliament and seizure of power in July.
 
Algeria/Morocco: Algeria closed its airspace to Moroccan planes (AFP) as part of a dispute over Algeria’s support for independence fighters in Western Sahara, which Morocco considers part of its territory.

South Africa–born Patrick Soon-Shiong and President Cyril Ramaphosa are set to announce the plan (Bloomberg) today. The transfer will help South Africa manufacture vaccines for COVID-19 and cancer.
 
Sudan: Authorities have taken over (Reuters) at least a dozen companies that they say are linked to Hamas, the militant group that governs the Gaza Strip.

The increase, of .25 percentage points, was the first (FT) for a Group of Ten (G10) central bank. Norway said another rate hike is likely.
 
France: During a phone call, U.S. President Joe Biden and French President Emmanuel Macron acknowledged that a new U.S. defense deal with Australia and the United Kingdom would have benefited from more consultation (CNN) with France. Biden plans to visit France next month.
 
CFR’s Charles A. Kupchan breaks down the tensions over the deal.

U.S. Special Envoy to Haiti Daniel Foote resigned, PBS’s Yamiche Alcindor tweeted. Foote denounced U.S. policy toward the country, including deportations of thousands of Haitian migrants and support for Prime Minister Ariel Henry, as “deeply flawed.”
 
Venezuela: The U.S. State Department announced $247 million in humanitarian aid and $89 million in economic and development assistance for Venezuela.

The regulation on hydrofluorocarbons aims to reduce (AP) their production and use by 85 percent over the next fifteen years, the Environmental Protection Agency (EPA) said.