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☆ The Moscow-Beijing alliance is here to stay because partnering with China is the only way Putin can sustain his conflict with the West, think tank says
▼ + stars: | 2024-04-14 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

Russia's growing partnership with China isn't going to fade, a think-tank director said. The West should consider enforcing economic sanctions on China as well, he said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In an op-ed for Foreign Affairs, the think-tank director pointed to Russia and China's economies becoming increasingly intertwined since Moscow began its invasion of Ukraine in 2022. The two nations scaled up their trade partnership to a record $240 billion last year, partly because China has snapped up key Russian commodities while the West has shunned trade with Moscow.

Persons: China isn't, Putin, —, Vladimir Putin, Alexander Gabuev Organizations: Service, Carnegie Russia Eurasia Center, Foreign Affairs, Business Locations: China, Beijing, Russia, Moscow, Ukraine

☆ Biden warns Xi Jinping about China's ongoing support for Russia amid Ukraine war
▼ + stars: | 2024-04-02 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

US President Joe Biden and China's leader Xi Jinping spoke in a Tuesday phone call. The leaders discussed global conflicts, including China's support for Russia amid the Ukraine war. Russia has managed to maintain its economy thanks in part to its trade partnership with China. AdvertisementUS President Joe Biden warned China's leader Xi Jinping about his government's ongoing support for Russia amid the war in Ukraine during a Tuesday phone call between the two world leaders. AdvertisementDespite alienating itself from the majority of the world, Russia continues to maintain an economic ally in China, whose ongoing support has helped Russia rebuild its defense industry during a vital moment in the war.

Persons: Joe Biden, Xi Jinping, —, China's, Biden, Xi, Vladimir Putin, Putin Organizations: Service, Central Bank of, Beijing Locations: Russia, Ukraine, China, California, India, Beijing, Central Bank of Russia, Taiwan, South China, Israel, Gaza, Bali

☆ China is on pace to buy a record amount of Russian oil this month
▼ + stars: | 2024-03-18 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

China's intake of Russian crude is set to reach a record this month, Kpler data cited by Bloomberg shows. The shift is due to tighter enforcement of Western sanctions, that's diminishing the discount on Russian oil. AdvertisementChinese imports of Russian crude are on course to reach record volumes this month, as Beijing takes over diminishing Indian demand. 1.7 million barrels a day are expected to ship into the country, Bloomberg said, citing Kpler data. That same month, Indian imports of Russian crude fell by 420,000 barrels a day.

Persons: —, India —, Wang Yi, it's, That's, Sovcomflot, Bloomberg Organizations: Bloomberg, Sokol, Service, Foreign, Group Locations: Beijing, India, China, Moscow, Russia

☆ Mexico-U.S. trade partnership will be unaffected by upcoming election, bank chairman says
▼ + stars: | 2024-01-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMexico-U.S. trade partnership will be unaffected by upcoming election, bank chairman saysCarlo Torres Vila, chairman of global bank BBVA, discusses the economy in Spain and the emerging markets they operate in, including Mexico — now the biggest trading partner of the U.S.

Persons: Carlo Torres Vila, Mexico — Organizations: BBVA Locations: Mexico, U.S, Spain

☆ China tells Britain to stop efforts to 'enhance' ties with Taiwan
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/ File photo Acquire Licensing RightsBEIJING, Nov 9 (Reuters) - The Chinese government on Thursday told Britain to stop its efforts to "enhance" ties with Taiwan after a high level meeting in London and the signing of a new trade agreement between the island and Britain. "We urge the UK to abide by the one-China principle and stop using trade cooperation as an excuse to engage in official exchanges or enhance substantive relations with Taiwan," it added. Britain and Taiwan both maintain de facto embassies in each other's capitals, but London does not officially recognise the democratically elected government in Taipei. Britain approved a sharp increase in exports of submarine parts and technology last year to Taiwan as it upgrades its naval forces, Reuters reported in March. Because of its diplomatic isolation and pressure from China, chip powerhouse Taiwan has few formal foreign trade agreements, though it is a member of the World Trade Organization and has free trade agreements with Singapore and New Zealand.

Persons: Dado Ruvic, Nigel Huddleston, Chen Chern, Ben Blanchard, Sam Holmes Organizations: REUTERS, Rights, Wednesday, Trade Partnership, British Trade, World Health Organization, Reuters, World Trade Organization, Beijing, Thomson Locations: Rights BEIJING, Britain, Taiwan, London, China's, Beijing, China, Taipei, Singapore, New Zealand

(AP) — President Joe Biden's national security adviser met with China's foreign minister over the past two days on the Mediterranean island nation of Malta in an effort that the White House said Sunday was intended to “responsibly maintain the relationship” at a time of strained ties and mutual suspicion between the rival powers. The Biden administration shot down what was described as a Chinese spy balloon earlier this year. And after Chinese President Xi Jinping centralized his power, the Chinese economy has not rebounded as expected after ending its pandemic lockdowns. The White House said Sullivan and Wang discussed the relationship between the two countries, global and regional security issues, Russia's war in Ukraine and the Taiwan Strait. They talked about the Mediterranean region's role in helping to provide “global peace and security,” according to a statement by the Maltese government.

Persons: Joe Biden's, Jake Sullivan, Wang Yi, Joe Biden, Premier Li Qiang, ” Biden, Biden, “ It’s, ”, Gina Raimondo, Xi Jinping, Sullivan, Wang, Robert Abela, ___ Madhani Organizations: White, Premier, Group Locations: WILMINGTON, Del, Malta, Washington, Beijing, India, Japan, South Korea, Vietnam, Hanoi, China, U.S, Ukraine, Taiwan Strait, United States, People’s Republic of China, Maltese

☆ Britain's richest man says Brexit was 'not good for the UK,' backs PM Sunak's economic plans
▼ + stars: | 2023-07-26 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

LONDON — Britain's wealthiest man, Gopichand Hinduja, condemned the U.K.'s departure from the European Union, but threw his backing behind Prime Minister Rishi Sunak's ability to revive the country's ailing economy. "The step taken of Brexit was not good for the U.K.," Hinduja told CNBC's Tanvir Gill in London on Monday. Britain voted to leave the European Union in 2016 and formally exited the bloc at the end of Jan. 2020. None of those partnerships will be more valuable to the U.K. than its forthcoming free trade arrangement (FTA) with India, according to Hinduja. "The biggest help the U.K. can get is from India, because India's economy, by 2027, will be the third largest in the world," he said.

Persons: Gopichand Hinduja, Rishi Sunak's, Brexit, Hinduja, CNBC's Tanvir Gill, — Organizations: U.K, European Union, Hinduja, Trans, Pacific Locations: Britain, London, India

☆ Wheat prices head for biggest single-day gain since Russia invaded Ukraine after fresh attacks on key grain facilities
▼ + stars: | 2023-07-19 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Wheat prices on Wednesday were on track for their biggest one-day gain since February 2022. Russia this week also backed out of a deal that had ensured safe passage for Ukraine exports in the Black Sea. The missile bombardment targeted critical Ukrainian grain facilities, and wheat prices, while still below last year's record highs, are on pace for their steepest one-day gain since February 2022, when Vladimir Putin first ordered his "special military operation." The initial agreement, which Russia, Ukraine, and Turkey hammered out last July, permitted Ukrainian exporters to ship corn, wheat, and other goods from three ports around Odesa. "Russia might collapse into multiple pieces, like the Soviet Union, and that might not be a bad thing for the world."

Persons: Vladimir Putin, Volodymyr Zelenskyy, Putin, It's, Volodymyr Lugovskyy Organizations: Service, Street Journal, Kremlin, Indiana University Locations: Russia, Odesa, Ukraine, Wall, Silicon, Chicago, Moscow, Turkey, Soviet Union

☆ Russia's economy is at China's mercy. Here's why that won't be changing anytime soon.
▼ + stars: | 2023-05-28 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Russia's economy is becoming dependent on China and it could soon be a vassal state of Beijing, experts say. But it isn't an equal partnership, and Russia may be on its way to becoming a vassal state of China. Richard Connolly, an associate fellow at the Royal United Services Institute and an expert on the Russian economy, disagreed with the term "vassal state." "Was Russia a vassal state to Europe over the last 30 years? The difficulties it is facing make it only more likely that Russia will deepen its dependence on China, Zagorsky said.

Others, like China, have criticized the war without meaningfully reducing ties with Russia. The war prompted condemnation in the United Nations and saw Russia booted from the UN Human Rights Council. Beijing has walked a careful line since the invasion began, at times exhibiting impatience with Russia's war in Ukraine. Putin in September acknowledged that China had "questions and concerns" about the war while meeting with Xi in Uzbekistan. "Putin's allies are not 'turning on him,' only expressing dissatisfaction at the difficulties his war in Ukraine is causing them," he added.

☆ Yellen leads new U.S.-Africa policy with trip to Senegal, Zambia, South Africa
▼ + stars: | 2023-01-13 | by ( Andrea Shalal | ) www.reuters.com time to read: +4 min

"We believe that Africa's growth will be a key driver of global growth over the coming decades," a senior Treasury official told reporters. But some African countries, including Zambia, have soured on Chinese lending and are looking for alternatives, experts say. Yellen has criticized Beijing - now the world's largest creditor - for not moving quickly to restructure the debt of poor countries in Africa. The topic will be a key issue when she visits Zambia, the Treasury official said. Biden in December proposed that the African Union be included in the Group of 20 major economies to give African countries a bigger seat at the table.

[1/7] U.S. President Joe Biden delivers keynote remarks at a U.S.-Africa Business forum at the 2022 U.S.-Africa Leaders Summit in Washington, U.S., December 14, 2022. "The United States is 'all in' on Africa's future," Biden told African leaders attending a three-day summit in Washington. Beijing has held its own high-level meetings with African leaders every three years for more than two decades. For their part, many African leaders reject the idea that they need to choose between the United States and China. "The fact that both countries have different levels of relations with African countries makes them equally important for Africa's development," Ethiopia's U.N. ambassador, Taye Atske Selassie Amde, told Reuters.

☆ U.S. Official Warns Against Efforts to Defy Forced-Labor Crackdown
▼ + stars: | 2022-11-17 | by ( Richard Vanderford | ) www.wsj.com time to read: +3 min

Customs will be closely looking at these supply chains as well, Mr. Silvers said. PREVIEWThe agency, for example, is experimenting with DNA testing technology that could be used on apparel to see if its cotton ultimately can be traced back to Xinjiang, Mr. Silvers said. Despite the toughened requirements under the forced-labor law, the U.S. government is working with businesses to help facilitate legitimate trade, he said. CTPAT membership will now include checks for forced-labor compliance, and companies that participate in the program will get priority treatment, Mr. Silvers said. Mr. Silvers said the U.S. also is working to compile a list of best practices and frequently asked questions to help address concerns from businesses about how enforcement of the forced-labor law will unfold.

☆ Taiwan aims for British trade deal as minister meets president
▼ + stars: | 2022-11-09 | by ( Ben Blanchard | ) www.reuters.com time to read: +3 min

[1/6] British Minister of State at the Department for International Trade Greg Hands speaks during a meeting with Taiwan President Tsai Ing-wen at the presidential building in Taipei, Taiwan, November 9, 2022. Taiwan Presidential Office/Handout via REUTERSTAIPEI, Nov 9 (Reuters) - Taiwan hopes to sign a trade deal with Britain and deepen cooperation with new Prime Minister Rishi Sunak's government, President Tsai Ing-wen told a British minister visiting Taipei on Wednesday in defiance of Chinese demands such trips stop. "We attach great importance to the British proposal to promote an enhanced trade partnership between Taiwan and Britain," Tsai said. "Our goal is to strengthen mutually beneficial economic and trade exchanges between Taiwan and Britain and we hope Taiwan and Britain will work together to promote the signing of bilateral investment and trade agreements." Hands, in Taiwan for trade talks, told Tsai that their relationship was not only about that.

☆ How Russia Pays for War
▼ + stars: | 2022-10-30 | by ( Lazaro Gamio | Ana Swanson | ) www.nytimes.com time to read: +17 min

Invasion –84% Imports from Russia –20% Germany Current total trade $4.8 billion Since invasion –3% Exports to Russia Avg. Invasion –51% Imports from Russia +38% The Netherlands Current total trade $2 billion Since invasion +32% Exports to Russia Avg. Invasion –52% Imports from Russia +74% China Current total trade $15 billion Since invasion +64% Exports to Russia Avg. Invasion +24% Imports from Russia +98% India Current total trade $3.3 billion Since invasion +310% Exports to Russia Avg. Invasion –19% Imports from Russia +430% Turkey Current total trade $6.2 billion Since invasion +198% Exports to Russia Avg.

☆ New Foreign Secretary Cleverly says UK's strategic shift to Indo-Pacific is 'permanent'
▼ + stars: | 2022-09-29 | by ( Ted Kemp | ) www.cnbc.com time to read: +1 min

SINGAPORE — The United Kingdom will commit itself more fully to the Indo-Pacific region, beyond its ongoing efforts to join a massive trade deal in the region, the country's new foreign secretary said Thursday. "The Indo-Pacific tilt is here to stay," James Cleverly said at the Milken Institute Asia Summit. That "tilt" toward the Indo-Pacific will include further cooperation on economic issues, security matters and "shared values," Cleverly said. Cleverly said that 1.7 million British citizens live in the region, and the United Kingdom has trade relationships worth $250 billion in the Indo-Pacific. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or CPTPP, is a trade pact that currently includes seven countries in Asia-Pacific and four in the Americas.

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