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☆ Western rival to Belt and Road has much to prove
▼ + stars: | 2023-09-25 | by ( Hugo Dixon | ) www.reuters.com time to read: +7 min

LONDON, Sept 25 (Reuters Breakingviews) - Western countries have a window of opportunity to come up with a credible infrastructure plan for the developing world. U.S. President Joe Biden has been talking up the West’s so-called Partnership for Global Infrastructure and Investment (PGII). To be fair, the G7 is stepping up efforts to involve the private sector. These initiatives are running in parallel with efforts to get the World Bank to cooperate more with the private sector. For developing countries, it is good to have two rival infrastructure initiatives competing for their attention.

Persons: Joe Biden, PGII, marshall, It’s, Hung Tran, Janet Yellen, Antony Blinken, Jordan, Xi Jinping, Vladimir Putin, Peter Thal Larsen, Katrina Hamlin Organizations: Reuters, Initiative, Group, Democratic, Global Infrastructure, Investment, Atlantic Council, coy, Treasury, European, Bank, United Arab, China, Thomson Locations: Italy, Republic, India, Europe, Zambia, Angola, Democratic Republic of Congo, Indonesia, Vietnam, South Africa, Senegal, United States, China, East, New Delhi, Indonesian, New York, Saudi Arabia, United Arab Emirates, Beijing

☆ Biden raised issue of Canadian Sikh's murder with Modi at G20 -FT
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

U.S. President Joe Biden and Indian Prime Minister Narendra Modi attend Partnership for Global Infrastructure and Investment event on the day of the G20 summit in New Delhi, India, September 9, 2023. The White House did not immediately respond to a request for comment on the FT report. The summit was held in India days before Prime Minister Justin Trudeau made his allegations public in an address to the Canadian parliament earlier this week. The leaders intervened at the G20 summit after Canada urged its allies to raise the case directly with Modi, the newspaper reported. Reporting by Kanishka Singh and Akanksha Khushi; editing by Sandra Maler and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Narendra Modi, Evelyn Hockstein, New Zealand —, Hardeep Singh Nijjar, Modi, Justin Trudeau, Jake Sullivan, Kanishka Singh, Akanksha, Sandra Maler, Leslie Adler Organizations: Indian, Partnership, Global Infrastructure, REUTERS, Financial Times, Thomson Locations: New Delhi, India, Canada, Australia, New Zealand, British Columbia, Washington, Ottawa, China, Asia Pacific

The United States has been seeking to strengthen its relationship with India. President Joe Biden hosted Indian Prime Minister Narendra Modi for a state visit at the White House earlier this year. It is something we will keep working on, and we will do that regardless of the country," Sullivan told reporters at the White House. Sullivan noted that the United States was in touch with both countries about the topic. Sullivan said he disagreed with reports suggesting there was distance between Canada and the United States on the issue.

Persons: Joe Biden, Narendra Modi, Evelyn Hockstein, Jake Sullivan, Sullivan, Hardeep Singh Nijjar, ” Sullivan, Andrea Shalal, Jeff Mason, Chris Reese, Timothy Gardner Organizations: Indian, Partnership, Global Infrastructure, REUTERS, Rights, Ottawa, United, White, Canadian, U.S, Thomson Locations: New Delhi, India, U.S, Indian, Canada, Washington, United States

☆ Saudi crown prince says he will keep 'sportswashing' as criticism of the practice grows
▼ + stars: | 2023-09-21 | by ( Drew Richardson | ) www.cnbc.com time to read: +4 min

Call it whatever you want, we're going to get that one and a half percent," the crown prince said. The Saudi Public Investment Fund (PIF), an entity controlled by Crown Prince Mohammed, has backed Saudi soccer clubs and LIV Golf. The LIV Golf merger with the PGA Tour has faced widespread scrutiny. Key U.S. lawmakers have criticized the pending golf merger as an attempt by the kingdom to distract from its human rights record. Prior to the deal, LIV Golf sued the PGA Tour for alleged anticompetitive practices, which prompted the PGA Tour to countersue, saying LIV Golf was stifling competition.

Persons: Saudi Arabian Crown Prince Mohammed bin Salman Al Saud, Prince Mohammed bin Salman, sportswashing, I'm, Critics, Jamal Khashoggi, Cristiano Ronaldo, Dustin Johnson, Bryson DeChambeau, LIV Golf, Crown Prince Mohammed, LIV, Osama bin Laden, It's, Sen, Richard Blumenthal, Conn, Jimmy Dunne, Ron Price, Price, Benjamin Freeman, — CNBC's Lillian Rizzo, Chelsey Cox Organizations: Saudi, Saudi Arabian Crown, Partnership, Global Infrastructure, Fox News, Washington Post, Neymar, PGA Tour, Saudi Public Investment Fund, Crown, Reuters, PGA, Key U.S, Homeland Security, Governmental Affairs, Tour, Quincy Institute, Responsible Locations: Saudi Arabian, New Delhi, India, Saudi, Europe, Saudi Arabia, Key, Yemen

Saudi Arabian Crown Prince Mohammed bin Salman Al Saud attends Partnership for Global Infrastructure and Investment event on the day of the G20 summit in New Delhi, India, September 9, 2023. The conservative U.S. network’s interview with the crown prince, widely known as MbS, comes as President Joe Biden’s administration presses ahead with an effort to broker historic ties between the two regional powerhouses, Washington’s top Middle East allies. We need to solve that part,” MbS said when asked what it would take to get a normalization agreement. MbS also voiced concern about the possibility of Iran, a mutual adversary of Saudi Arabia and Israel that the U.S. wants to contain, could obtain a nuclear weapon. Reporting by Rami Ayyub and Matt Spetalnick; Editing by Leslie Adler and Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Saudi Arabian Crown Prince Mohammed bin Salman Al Saud, Evelyn Hockstein, Saudi Arabian Crown Prince Mohammed bin Salman, Israel, Joe Biden’s, ”, Biden, Benjamin Netanyahu, Rami Ayyub, Matt Spetalnick, Leslie Adler, Josie Kao Organizations: Saudi, Saudi Arabian Crown, Partnership, Global Infrastructure, REUTERS, Rights, Fox, MbS, Israeli, Thomson Locations: Saudi Arabian, New Delhi, India, Saudi, U.S, Israel, Iran, Saudi Arabia, Riyadh, Tehran, Gulf

☆ US, Vietnam upgrade ties as Biden visits in hedge against China
▼ + stars: | 2023-09-10 | by ( ) www.cnbc.com time to read: +3 min

U.S. President Joe Biden attends Partnership for Global Infrastructure and Investment event on the day of the G20 summit in New Delhi, India, September 9, 2023. U.S. President Joe Biden secured deals with Vietnam on semiconductors and minerals as the strategic Southeast Asian nation elevated Washington to its highest diplomatic status alongside China and Russia. Biden noted the strides that had been taken toward improved ties. Vietnam is having to navigate frosty relations between Washington and Beijing as it seeks its own foothold in the international economic competition. That would help Vietnam reduce military reliance on Moscow, "a relationship we think they are increasingly uncomfortable with," Finer said.

Persons: Joe Biden, Biden, Xi Jinping, Pham Minh Chinh, Jon Organizations: Global Infrastructure, Communist Party, Reuters, Vietnam's Locations: New Delhi, India, Vietnam, Washington, China, Russia, The U.S, Hanoi, Beijing, Ukraine, Moscow, United States, U.S

Biden said he met with Chinese President Xi Jinping's No.2, Chinese Premier Li Qiang, at the annual G20 summit in New Delhi. "My team, my staff still meets with President Xi's people and his cabinet," Biden told reporters. Biden called China's economic situation a "crisis," citing issues in the real estate sector and high youth unemployment. "One of the major economic tenets of his plan isn't working at all right now," Biden said of Xi, without elaborating. "I don't think this is going to cause China to invade Taiwan," Biden said of the country's economic troubles.

Persons: Joe Biden, Biden, Xi Jinping's, Li Qiang, Xi, Li, Xi's, I'm, it's, Evelyn Hockstein, Nandita Bose, Trevor Hunnicutt, Doina Chiacu, Lisa Shumaker, Heather Timmons, Cynthia Osterman Organizations: Taiwan, Southern, Sunday, Global Infrastructure, REUTERS, Democratic, Thomson Locations: HANOI, New Delhi, Indonesia, India, U.S, Beijing, Vietnam, China, Taiwan, United States, Hanoi, Washington

U.S. President Joe Biden attends Partnership for Global Infrastructure and Investment event on the day of the G20 summit in New Delhi, India, September 9, 2023. REUTERS/Evelyn Hockstein/Pool Acquire Licensing RightsHANOI, Sept 10 (Reuters) - U.S. President Joe Biden said on Sunday he held his highest-level direct talks with Chinese leadership in months and said the country's economic wobbles wouldn't lead it to invade Taiwan. Chinese Premier Li Qiang attended the annual G20 summit in New Delhi. In March, he took office in the country's No.2 post. "I don't think this is going to cause China to invade Taiwan," Biden said.

Persons: Joe Biden, Evelyn Hockstein, Xi's, Biden, Li Qiang, Nandita Bose, Trevor Hunnicutt, Lisa Shumaker Organizations: Global Infrastructure, REUTERS, Rights, Southern Hemisphere, Thomson Locations: New Delhi, India, Rights HANOI, Taiwan, China, Hanoi, Washington

Biden and Indian Prime Minister Narendra Modi plan to announce the project as part of the Partnership for Global Infrastructure Investment. The rail and shipping corridor would enable greater trade among the countries, including energy products. He said first that the corridor would increase prosperity among the countries involved by increasing the flow of energy and digital communications. Second, the project would help to address the lack of infrastructure needed for growth in lower- and middle-income nations. And third, Finer said it could help “turn the temperature down” on “turbulence and insecurity” coming out of the Middle East.

Persons: Joe Biden, Jon, Biden, Narendra Modi, ” Biden, Xi Jinping, Vladimir Putin Organizations: DELHI, Group, United Arab Emirates, European Union, Indian, Partnership for Global Infrastructure Investment, World Bank Locations: India, Europe, United States, Saudi Arabia, Ukraine, China, Russia

The visit comes as trade and investment ties between the two nations are growing and a long-simmering territorial dispute between Vietnam and China heats up in the South China Sea. Vietnam has named four other countries "comprehensive strategic partners," the designation expected for the U.S.: China, Russia, India and South Korea. Biden's visit comes nearly 50 years after the end of the deeply unpopular Vietnam War between the Soviet-backed Communist government of North Vietnam and South Vietnam’s U.S.-backed regime. "For decades, the US and Vietnam have worked to overcome a painful shared legacy of the Vietnam War, working hand in hand to promote reconciliation, with our service members and our veterans lighting the way," he said. Washington has been pushing to elevate ties with Hanoi to a "strategic" partnership from one that for the past decade has been called "comprehensive."

Persons: Joe Biden, Evelyn Hockstein, Biden, Nguyen Phu Trong, Antony Blinken, Jake Sullivan, Nandita Bose, Khanh Vu, Francesco Guarascio, Heather Timmons, Chizu Organizations: Global Infrastructure, REUTERS, Sunday, Communist Party General, Party, U.S ., Google, Intel, Marvell, Boeing, U.S, Communist, Thomson Locations: New Delhi, India, DELHI, HANOI, United, China, Asia, Vietnam, South China, Russia, South Korea, Hanoi, U.S, Soviet, North Vietnam, South Vietnam’s U.S, Pacific, US, Washington, Czech Republic

☆ Japan PM Kishida spoke about Fukushima water release with G20 leaders
▼ + stars: | 2023-09-09 | by ( Katya Golubkova | ) www.reuters.com time to read: +3 min

Japanese Prime Minister Fumio Kishida attends Partnership for Global Infrastructure and Investment event on the day of the G20 summit in New Delhi, India, September 9, 2023. Japan started releasing treated radioactive water from the wrecked Fukushima nuclear power plant into the Pacific Ocean last month, and faced harsh criticism from China which immediately banned all seafood imports from Japan. Japan says the water release is safe, noting that the International Atomic Energy Agency (IAEA) has also concluded that the impact it would have on people and the environment was "negligible." "Prime Minister Kishida explained that the data monitored since last month's (water) discharge has been made public in a prompt and highly transparent manner. The Fukushima water release was among topics at Kishida's meetings with Turkish President Tayyip Erdogan, Dutch Prime Minister Mark Rutte, Australian Prime Minister Anthony Albanese and Indian Prime Minister Narendra Modi on the sidelines of the G20 summit, Japan foreign ministry said in separate statements.

Persons: Fumio Kishida, Evelyn Hockstein, Kishida, Joe Biden, Rishi Sunak, Emmanuel Macron, Saudi Arabia's Mohammed bin Salman, Hikariko Ono, Ono, Li Qiang, Tayyip Erdogan, Mark Rutte, Anthony Albanese, Narendra Modi, Katya Golubkova, Chizu Organizations: Global Infrastructure, REUTERS, International Atomic Energy Agency, British, World Trade Organization, IAEA, Dutch, Australian, Indian, Thomson Locations: New Delhi, India, DELHI, Japan, China, Saudi, Indonesia

He will have at least one advantage: Chinese President Xi Jinping will not be at the meetings. "But the question ... is whether the United States will be able to step up." FAST GROWTH, HIGH DEBTChinese Premier Li Qiang will represent China at the G20 as its leaders cope with sagging growth and a possible property debt crisis. For his part, Xi is also finding new ways to engage the developing world, hosting a gathering of Central Asian leaders and discussing development in May. Xi is also expected to attend an Asia-Pacific Economic Cooperation (APEC) summit in San Francisco in November, where he may meet with Biden.

Persons: Joe Biden, Leah Millis, Biden, Xi Jinping, Zack Cooper, Li Qiang, Vladimir Putin, Sergei Lavrov, Jake Sullivan, Donald Trump's, Sullivan, White, Khulu Mbatha, Cyril Ramaphosa, Trevor Hunnicutt, Nandita Bose, Michael Martina, Carien du, Don Durfee, Grant McCool Organizations: Warehouse Union, Pacific Maritime Association, White, REUTERS, Rights, World Bank, Bank, U.S, Partnership for Global Infrastructure, Investment, American Enterprise Institute, IMF, Global, White House, Trump, Republican, South, Central Asian, United, United Arab Emirates, Economic Cooperation, Biden, Thomson Locations: Washington , U.S, India, United States, Africa, Latin America, Asia, Washington, China, Russian, East, Central Asia, Saharan Africa, People's Republic, Ukraine, Brazil, South Africa, Beijing, Moscow, Russia, Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, United Arab, San Francisco, Carien du Plessis, Johannesburg

WASHINGTON/ROME, July 27 (Reuters) - U.S. President Joe Biden hosts Italian Prime Minister Giorgia Meloni at the White House on Thursday, with the Ukraine war and Italy's relations with China expected to be among the top items on the agenda. Meloni is also expected on Thursday to meet with Republican House of Representatives Speaker Kevin McCarthy, who has said he could consider an impeachment inquiry into Biden. The G7 formally launched an alternative to Belt and Road, the Partnership for Global Infrastructure and Investment, last year. Italy is planning to discuss with the U.S. how to support the development and stability of Africa, Meloni's office said, which will also be among the main topics of Italy's G7 presidency. Reporting by Trevor Hunnicutt in Washington and Angelo Amante in Rome Editing by Don Durfee and Diane CraftOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Giorgia Meloni, Italy's, Biden, Kevin McCarthy, Meloni's, Meloni, Trevor Hunnicutt, Angelo Amante, Don Durfee, Diane Craft Organizations: Italian, White, Republican, Russia, Initiative, Partnership for Global Infrastructure, Investment, Thomson Locations: WASHINGTON, ROME, Ukraine, China, Italian, Washington, Beijing's, Italy, Beijing, Japan, Rome, North Africa, Africa

☆ China summons Japanese ambassador over actions at G7
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +1 min

Sun said Japan collaborated with the other countries at the G7 summit "in activities and joint declarations ... to smear and attack China, grossly interfering in China's internal affairs, violating the basic principles of international law and the spirit of the four political documents between China and Japan," referring to the China-Japan Joint Statement of 1972. He said Japan's actions were detrimental to China's sovereignty, security and development interests, and that China is "strongly dissatisfied and firmly opposes" them. "Japan should correct its understanding of China, grasp strategic autonomy, adhere to the principles of the four political documents between China and Japan, and truly promote the stable development of bilateral relations with a constructive attitude," Sun said. The Chinese embassy in Britain had earlier asked London to stop slandering and smearing China to avoid further damage to China-UK relations. Reporting by Liz Lee; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: Excerpts from G7 leaders' statement on economic coercion
▼ + stars: | 2023-05-20 | by ( ) www.reuters.com time to read: +5 min

May 20 (Reuters) - Leaders of the Group of Seven (G7) agreed on Saturday to establish an initiative to counter economic "coercion", pledging to take steps to ensure that any actors attempting to "weaponise" economic dependence would fail and face consequences. The initiative, dubbed Coordination Platform on Economic Coercion, will use early warning and rapid information sharing on economic coercion with members meeting regularly for consultations, the G7 leaders, meeting in Hiroshima, Japan, said in a statement. "We are taking additional steps today to enhance our ongoing strategic coordination on economic resilience and economic security by reducing vulnerabilities and countering malign practices that exploit and reinforce them. We will work together to ensure that attempts to weaponise economic dependencies by forcing G7 members and our partners, including small economies, to comply and conform will fail and face consequences. Within this Coordination Platform, we will use early warning and rapid information sharing, regularly consult each other, collaboratively assess situations, explore coordinated responses, deter and, where appropriate, counter economic coercion, in accordance with our respective legal systems.

☆ Biden advisor says oil price cap is working as Russia takes economic hit
▼ + stars: | 2023-01-13 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

The Group of Seven's oil price cap scheme intended to limit Russian oil export revenues is working "so far so good," according to Amos Hochstein, special presidential coordinator to President Joe Biden. The price cap initiative was introduced on Dec. 5, when the EU stopped taking Russian crude oil. EU countries will no longer be able to access seaborne Russian oil products as of Feb. 5. He did not specify how much the U.S. believes the price ceiling initiative is costing Russia. I think the G7 got together, it's part of the unity of the G7, and I think so far so good," Hochstein said.

☆ U.S. Treasury's Adeyemo heads to APEC meeting with focus on trade, 'resilience'
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +2 min

Adeyemo, who has led work on U.S. sanctions over Russia's invasion of Ukraine, will represent the United States when the Asian Economic Cooperation (APEC) finance ministers meet in Bangkok on Wednesday and Thursday, Treasury said. He will also meet with Thailand's Finance Minister Arkhom Termpittayapaisith. The newly relaunched G7 Partnership for Global Infrastructure and Investment (PGII) and U.S. efforts to build up supply chains with trusted partners were also on the agenda. "While the U.S. economy remains resilient in the face of these headwinds, the Deputy Secretary will work with partners to increase resilience in their economies," it said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Andrea Shalal; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ The world is staring down a brutal winter of soaring energy prices, rolling blackouts, and freezing homes. But there's a clear solution to the crisis — if we aren't too scared to use it.
▼ + stars: | 2022-09-20 | by ( Kartik Menon | ) www.businessinsider.com time to read: +11 min

Confronted with energy shortfalls into the colder months and years of potential energy uncertainty, one solution has gained traction around the globe: nuclear energy. Many nations, including the United Kingdom, Netherlands, France, and Japan, have begun or reconsidered massive sovereign investment into nuclear power. Reliable, low-cost, and carbon-free, nuclear energy allows these nations to arrest the economic decline from higher energy prices and make progress toward net-zero goals. Compared to other sources of energy, nuclear power is relatively safe — the number of deaths per terawatt hour produced is comparable to wind and solar energy. These are encouraging steps toward getting the West off of Russian energy and helping consumers weather the tough times ahead.

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