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☆ Janet Yellen to deliver major speech detailing US economic strategy toward Indo-Pacific
▼ + stars: | 2023-10-30 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN —At a moment of elevated geopolitical danger, Treasury Secretary Janet Yellen plans to deliver a major speech on Thursday mapping out the Biden administration’s economic gameplan toward the increasingly volatile Indo-Pacific region, CNN has learned. The speech will mark the first time the Biden administration has outlined its economic approach toward the region in such detail. Recently, China and the Philippines accused each other of causing collisions in a disputed area of the South China Sea. Beyond the high-profile trip to China, Yellen has visited the Indo-Pacific multiple times during the Biden administration, including four trips to India, two trips each to Japan and Indonesia and visits to Vietnam and Korea. On Friday, the White House announced Biden will travel to San Francisco on November 14 to host representatives from the 21 APEC member economies for APEC Economic Leaders’ Week.

Persons: Janet Yellen, Biden, Joe Biden, Xi Jinping, Yellen, “ That’s, ” Biden, Antony Blinken, Xi Organizations: New, New York CNN, Biden, CNN, Economic Cooperation, Treasury, Asia Society, APEC, Investors, Democratic, White House Locations: New York, Asia, San Francisco, Beijing, China, Philippines, South China, Japan, South Korea, India, Vietnam, Indonesia, Korea, Washington, United States, Bali .

☆ China, U.S. Look to a Biden-Xi Summit While Wrestling Tensions
▼ + stars: | 2023-10-27 | by ( Charles Hutzler | ) www.wsj.com time to read: +1 min

Beijing reappointed top diplomat Wang Yi to replace Qin Gang as foreign minister during an emergency session, without addressing Qin’s mysterious absence. Chinese leader Xi Jinping had handpicked Qin seven months earlier. Photo: Florence Lo/Pool Reuters/Associated PressWASHINGTON—China’s foreign minister opened meetings with the Biden administration national security team to brighten the way for a summit between their leaders and keep in check the gamut of issues driving the countries’ tensions. Secretary of State Antony Blinken , who held talks with Chinese Foreign Minister Wang Yi, said he wants to enlist Beijing’s help in keeping the Israel-Hamas war from widening. China’s harassment of Philippine ships trying to resupply a South China Sea outpost also drew a sharp warning from President Biden this week not to attack a U.S. ally.

Persons: Wang Yi, Xi Jinping, Qin, Florence, Biden, Antony Blinken, Beijing’s Organizations: Beijing, Reuters, Associated Press WASHINGTON, Foreign Locations: Israel, China, U.S

That is true both for the two countries at the national level, and for state-level engagement. California has a steady and long working relationship with China. Arnold Schwarzenegger, a Republican governor, started the formal relationship with China over climate cooperation a decade ago, Jaros said. State regulators also have banned the sale of most new gas-powered cars in California by 2035. Meanwhile, the California family of a Christian pastor who has been detained in China since 2006 said Newsom should take any possible opportunity to argue for his release.

Persons: Gavin Newsom’s, Xi Jinping, Joe Biden, Xi, China “, ”, Alex Wang, Trump, Kyle Jaros, Arnold Schwarzenegger, Jaros, Democrat Jerry Brown, “, Wang, Newsom, he’s, Jinping, Alfred Wu, David Lin’s Organizations: —, China -, U.S, Economic Cooperation, UCLA, University of Notre Dame, Republican, Democrat, UCLA’s Emmett Institute, Democratic, National University of Singapore Locations: BANGKOK, — California, China, San Francisco, Asia, California, Hong Kong, U.S, Beijing, Taiwan

There is a new poster child of China’s protracted real estate crisis — Country Garden. Country Garden has not responded to requests for comment by phone or email. Here’s what to know about the rise and fall of Country Garden, and the future of China’s once red-hot property sector. Until last year, Country Garden was China’s biggest real estate developer, specializing in residential property. While confidence in China’s real estate sector has been shaky since the collapse of Evergrande, Country Garden reignited fears in August when its liquidity crisis burst into public view.

Persons: Evergrande, Yang Huiyan, Krishna Srinivasan, ” Organizations: Hong Kong CNN, Bloomberg News, Financial Times, Citigroup, Hong Kong, Country Garden, Seng, International Monetary Fund, National Bureau of Statistics, Pacific Department Locations: Hong Kong, Foshan, Guangdong province, China, United States, Evergrande, Beijing, Asia

California Gov. Gavin Newsom meets with Chinese President Xi Jinping in Beijing. Photo: /Associated PressChinese leader Xi Jinping met with California Gov. Gavin Newsom in Beijing’s Great Hall of the People, part of a Chinese charm offensive that appears to be laying the groundwork for Xi to meet with President Biden in San Francisco next month. The California Democrat took meetings with Chinese Foreign Minister Wang Yi and Vice President Han Zheng earlier on Wednesday before his audience with Xi in the afternoon.

Persons: Gavin Newsom, Xi Jinping, Xi, Biden, Newsom, Wang Yi, Han Zheng Organizations: Associated Press, California Gov, of, California Democrat, Chinese Foreign Locations: California, Beijing, Beijing’s, San Francisco, China

☆ China issues new bonds to prop up economy as global investors flee at 'unprecedented' pace
▼ + stars: | 2023-10-25 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Foreign fund outflows from China’s so-called A-share market have entered “an unprecedented stage,” Morgan Stanley strategists wrote in a recent note. A-shares are yuan-denominated shares of mainland China firms that trade on the Shanghai Stock Exchange and the Shenzhen Stock Exchange. This seems highly unlikely under Xi.”Even Chinese investors seem to be plagued by a growing lack of faith in the future of the country’s economy. It will hit the economy in an all-around and indiscriminate way,” the fund said in a letter to its investors, which went viral. “Xi might wield vast control in China, but he can’t compel global investors to buy into his vision or risk their capital,” he said.

Persons: ” Morgan Stanley, ”, Alex Capri, Xu jingbai, ICHPL, Brock Silvers, Beijing’s “, Apple’s iPhones, George Magnus, Joe Biden, Goldman Sachs, Derek Scissors, Xi, Craig Singleton, Xi Jinping, “ Organizations: Hong Kong CNN — Investors, Shanghai Stock Exchange, Shenzhen Stock Exchange, Connect, CSI, Foundation, National University of Singapore Business School, Chinese Communist Party, Kaiyuan, “, China’s Taiwan Affairs Office, China Centre of Oxford University, Global, People’s Bank of China, National People’s, Central Huijin Investment, American Enterprise Institute, Dingtai, Foundation for Defense of Democracies Locations: China, Hong Kong, Beijing, China’s, Shanghai, Shenzhen, Hai'an, China's Jiangsu, Capri, United States, ”

☆ Live updates: Israel-Hamas war rages, 'no ceasefire' in Gaza
▼ + stars: | 2023-10-23 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +1 min

Days after the United States’ shuttle diplomacy in the Middle East, which culminated in President Joe Biden’s historic wartime visit to Israel, China has started its own diplomatic hustling in a region teetering on the brink of a wider conflict. Zhai has traveled to Qatar and attended a peace summit in Egypt, calling for a ceasefire, humanitarian access to Gaza and reiterating China’s support for a two-state solution. It is unclear if he will visit Israel, as Beijing has provided no details of the trip. Few experts in or familiar with the Middle East expect Zhai’s trip will lead to any concrete deliverables in peacemaking. Instead, they view it as a chance for China to tilt the global balance of power further in its favor as the strategic competition with the US heats up.

Persons: Joe Biden’s, Zhai Jun, Beijing’s, Zhai Organizations: United Locations: United States, Israel, China, Beijing, Palestinian, Qatar, Egypt, Gaza, peacemaking

Shadi Tabatibi/Reuters Relatives mourn for a family killed in an Israeli airstrike in Gaza City on October 21. Alexi J. Rosenfeld/Getty Images Europe/Getty Images Palestinians inspect a destroyed area following an Israeli airstrike in Gaza on October 21. Ronen Zvulun/Reuters A woman mourns over a dead man at the Al-Aqsa Martyrs Hospital in Gaza City on October 18. Fatima Shbair/AP People react at the site of an Israeli airstrike in Al-Shati refugee camp in Gaza City on Saturday, October 14. Ramez Mahmoud/AP A plume of smoke rises in the sky over Gaza City during an Israeli airstrike on October 9.

Persons: Joe Biden’s, Zhai Jun, Beijing’s, Zhai, ”, Sanam Vakil, ” Jonathan Fulton, Said Khatub, Leon Neal, Hatem Moussa, Nir Oz, Wolfgang Schwan, Yousef Masoud, Alexi J . Rosenfeld, Shadi Tabatibi, Ali Jadallah, Belal al Sabbagh, Mohammed Saber, Khan, Rizek Abdeljawad, Ahmad Gharabli, Janis Laizans, Abed Khaled, Mohammed Dahman, Yoav Gallant, Gallant, Yasser Qudih, Ofir Libstein, Aza, Ronen Zvulun, Belal Khaled, Abed Rahim Khatib, Hod, Ayal Margolin, Antony Blinken, Joe Biden, Benjamin Netanyahu, Brendan Smialowski, Biden, Netanyahu, Kenny Holston, Ariel Schalit, Mohammed Abed, Kfar Aza, Ilia Yefimovich, Mustafa Hassona, Mahmoud Khaled, Samar Abu, Fatima Shbair, Dor Reder, Violeta Santos Moura, Shir Torem, Wahaj Bani Moufleh, Antonio Macías, Macías, Francisco Seco, Eli Albag, Liri, Mohammed Talatene, Sergey Ponomarev, Hatem Ali, Dor Kedmi, Mahmud Hams, Saher, Abraham Cohen, Valentin Ghnassia, Ghnassia, Yuri Cortez, Ibrahim Hams, Bashar Taleb, Baz Ratner, Jack Guez, Yahya Hassouna, Mapal Adam, Abed Zagout, Tamir Kalifa, Agha, Ibraheem Abu Mustafa, Reuters Itzik, Miriam Shafir, Dor Shafir, Savion Kiper, Maya Alleruzzo, Mohammed Salem, CNN Sergey Ponomarev, Eden Guez, Atef Safadi, Ohad, Mohammed Soboh, Said, Noam Elimeleh Rothenberg, Amir Cohen, Ilai Bar Sade, Erik Marmor, Oren Ziv, Majdi, Ramez Mahmoud, Roi Levy, Alleruzzo, Tali Touito, Jalaa Marey, Oded, Khan Younis, Ahmad Hasballah, Mohammed Fayq Abu Mostafa, Tsafrir, Ilan Rosenberg, Eyad Baba, Itai Ron, Hadas Parush, Xi Jinping, ” Vladimir Putin, Putin, ” Zhai, Mikhail Bogdanov, Putin’s, Israel –, Israel, “, Li Mingjiang, Li, China’s, Mao Zedong, Fulton, Zhao Tong, Vakil, China doesn’t Organizations: Hong Kong CNN, United, Palestine, Chatham House, Atlantic Council, Getty, Pictures, Tel Aviv University, AP, New York Times, Reuters, Reuters Civil, AP Rockets, AP Israel's, Regional, Al, Aqsa Martyrs Hospital, Israel's, Ahli Baptist Hospital, Israel Defense Forces, Israeli, Ben Gurion International, Shifa, Palestinian, West Bank, Aris Messinis, Haim, Mount, Mount Herzl Military, Nova, Anadolu Agency, CNN, Nova Festival, Ben Gurion, Rockets, United Nations, Reuters Police, Reuters Rockets, Biden, US, UN, Singapore’s Nanyang Technological University ., Israel, Carnegie Endowment, International Locations: China, Hong Kong, United States, Israel, Beijing, Palestinian, Qatar, Egypt, Gaza, peacemaking, East, North Africa, Abu Dhabi, Rafah, AFP, Tel Aviv, Deir al, Anadolu, Khan Younis, Europe, Zahra City, Gaza City, Xinhua, East Jerusalem, Ras, Israel's, Yehuda, Aqsa, Hod HaSharon, Kiryat Shmona, Al, Ahli, Sderot, Gan, Kfar, North Sinai, Samar, Samar Abu Elouf, Beit Kama, Haifa, Cyprus, Nablus, West, Lebanon, Kfar Saba, Israeli, Be'eri, Rehovot, Mount Herzl, Jerusalem, Kibbutz Be'eri, Modiin Maccabim, Kfar Aza, Ashkelon, Mount Herzel, Yassin, Beitar Ilit, Ramat Gan, Itai, Beit Hanun, Rishon Lezion, Ukraine, Russia, Chatham, Iran, Africa, Moscow, Washington, Xinjiang, Leningrad, Communist China, United Nations, Palestine, Beijing –, Saudi Arabia, Lebanese, Tehran

☆ Apple iPhone maker Foxconn being investigated in China as founder runs for Taiwan presidency
▼ + stars: | 2023-10-23 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —Taiwan’s Foxconn, one of Apple’s largest suppliers, is being investigated by authorities in China, according to state media. Foxconn, also known as Hon Hai Precision Industry, has iPhone factories in Guangdong and Henan, including the world’s largest in the city of Zhengzhou. The company’s listed unit in Shanghai, Foxconn Industrial Internet, plummeted by its daily limit of 10% on Monday. Terry Gou, Foxconn founder, announces bid for Taiwan presidency during a press event in Taipei on August 28. The crackdown came despite repeated calls from Chinese leaders to welcome more foreign investment to boost the country’s slowing economy.

Persons: Taiwan’s, Terry Gou, won’t, Foxconn, “, ”, Brock Silvers, Gou, Hai, ” Gou, Ann Wang, Lai Ching, — Hou Yu, Ko Wen, Zhang Wensheng, ” Zhang, Silvers Organizations: Hong Kong CNN, Global Times, CNN, Hai Precision Industry, Foxconn Technology, WPP, drugmaker Astellas Pharma, Kaiyuan, “, Apple, Communist, Taiwan, Democratic People’s Party, ih, Kuomintang, Taiwan People’s Party, Beijing, China’s Xiamen University, Financial Times, Shanghai, Economic Observer Locations: China, Hong Kong, Beijing, Guangdong, Jiangsu, Henan, Hubei, Zhengzhou, Shanghai, Taipei, Taiwan

☆ Hong Kong’s Financial-Sector Feast Turns to Famine
▼ + stars: | 2023-10-20 | by ( Jacky Wong | ) www.wsj.com time to read: 1 min

China’s slowing economy could soon become a major talking point for U.S. companies as they begin to report third-quarter earnings. WSJ’s Dion Rabouin explains. Illustration: Elizabeth SmelovHong Kong’s lackluster stock market epitomizes the challenges that the city is grappling with—China’s economic slowdown, which looks increasingly structural, and Beijing’s tightened grip on the semiautonomous city. Neither issue looks likely to disappear soon, although China’s economy could improve a bit cyclically next year. Weak third-quarter results released Friday by Hong Kong Exchanges and Clearing —the market’s owner and operator—are the latest sign of how entrenched the city’s problems have become.

Persons: WSJ’s Dion Rabouin, Elizabeth Smelov Hong Organizations: Hong Kong Exchanges Locations: semiautonomous

☆ China’s leaders speed towards Japanisation
▼ + stars: | 2023-10-20 | by ( Edward Chancellor | ) www.reuters.com time to read: +8 min

LONDON, Oct 20 (Reuters Breakingviews) - China’s real estate market is in decline. The trouble is that China’s economic imbalances are far worse than Japan’s in 1990. Yet China’s GDP per capita has reached only half of Japan’s level in 1990. China’s economic misdirection is catalogued in Yasheng Huang’s “The Rise and Fall of the East”. After 1978 the authorities gave provincial governments substantial freedom to promote economic growth and rewarded them for meeting a growth target.

Persons: Xi, Xi Jinping, Huang, –, Xi’s, Beijing’s, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: Reuters, Monetary Fund, South, Asian, IMF, Reuters Graphics Reuters, Bank for International, MIT Sloan School of Management, HK, Communist, Huawei, Washington, Thomson Locations: Marrakech, People’s Republic, China, South Korea, Japan, deflate, Tokyo, California, Beijing, Taiwan, Communist

☆ China's Belt and Road Forum: What to know following Beijing's 'grand gathering'
▼ + stars: | 2023-10-19 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +8 min

Here are the main takeaways from China’s Belt and Road Forum. No doubt over Putin’s prominenceThe gathering left no question over who was the most important world leader in attendance in the eyes of China’s Xi. In his meeting with Putin, Xi hailed the China-Russia partnership as “a long-term commitment,” stressing “ever-lasting good neighborliness and mutually beneficial cooperation,” and alluding to their shared 4,300-kilometer border and mutual aims. Since then, skepticism about China’s global ambitions has risen in Europe, in particular over Beijing’s economic and diplomatic support for Moscow. “Obviously, competition should not mean working against each other but mutually improving each other,” he said, while touting the quantity of China’s global development projects.

Persons: Beijing CNN —, Xi, Vladimir Putin, –, Putin striding, Putin, ” Putin, Joe Biden’s, ”, Giuseppe Conte, Hungary’s Viktor Orban, Kassym, Joko, General António Guterres, ” Guterres, Zhai Jun, Wang Yi, “ Organizations: Beijing CNN, Initiative, of, Italian, Beijing, United Nations, Hamas Locations: China, Beijing, United States, Ukraine, Russia, China’s, East, Gaza, Israel, Europe, US, Greece, Austria, Portugal, Czech Republic, Moscow, Italy, Africa, Asia, Latin America, Egypt

☆ Pentagon warns about China’s growing long-range missile arsenal in major report
▼ + stars: | 2023-10-19 | by ( Oren Liebermann | ) edition.cnn.com time to read: +4 min

The 2023 China Military Power report, released annually by the Defense Department, said that Beijing has also completed the construction of three new fields of long-range ballistic missiles silos as it builds out its options for delivering a nuclear warhead from different platforms. China uses its military might to assert its claims of sovereignty in the South China Sea and beyond, including Taiwan. In 2022, the Chinese military increased its aggressive actions towards the independent island territory, including ballistic missile overflights, military aircraft flying into Taiwan’s aerial identification zone and major exercises near Taiwan. The growing aggression isn’t only pointed at Taiwan or China’s neighbors. Chinese military pilots have ramped up their “coercive and risky” behavior against US aircraft flying over the East and South China in the last two years.

Persons: ”, Xi Jinping, ” Ely Ratner, “, Aquilino Organizations: CNN, Pentagon, Defense Department, National Defense Strategy, America, East, Defense, Pacific Security Affairs, PLA, PLA’s Joint Staff Department Locations: China, United States, Beijing, South, Taiwan, South China, Fiji

☆ Israel-Hamas war fuels debate and nationalist sentiment on Chinese social media
▼ + stars: | 2023-10-19 | by ( Chris Lau | ) edition.cnn.com time to read: +9 min

“The lack of condemnation of Hamas by Chinese officials gives it support,” she said. As an increasing number of China watchers and Israeli scholars pointed out the rise in antisemitic sentiment in China, some Chinese diplomats appeared to have taken note. The Israeli diplomatic outpost has been active on Chinese social media, Lavi, from the Diane & Guilford Glazer Israel-China Policy Center told CNN. China bans foreign social media platforms and censors comments deemed marginally sensitive by the Chinese Communist Party. “Many comments also highlight China’s peace-making efforts and draw parallels between the suffering of the Palestinian people and China’s own historical experiences with colonization.”

Persons: Hong Kong CNN —, Yuval Waks, ” Waks, Waks, “, Beijing’s, Wang Yi, Israel, Antonio Guterres, Israel “, Adolf Hitler, Xiao Qiang, ”, Xiao, Lavi, Diane, Guilford Glazer, Hua Chunying, ’ “, Mohammed Al, Masri, Noa Argamani, ” Wendy Zhou, Mao, Zhou Organizations: Hong Kong CNN, Palestinian, Hamas, Weibo, Embassy, United Nations, UN, School of Information, University of California, China Policy Center, Israeli Embassy, Diane, CNN, Shifa, Ahli Baptist Hospital, Reuters, Georgia State University, Chinese Communist Party, Israel, Palestine, Palestinian Authority Locations: China, Hong Kong, Israel, Gaza, Beijing, Israeli, Weibo, United States, University of California Berkeley, Guilford Glazer Israel, Shanghai, Al, Ahli, Gaza City

☆ From Russia to the Middle East: Why China can’t afford another big conflict
▼ + stars: | 2023-10-19 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Now, as Israel’s war against Palestinian militant group Hamas threatens to spiral into a broader conflict that could shatter stability in the Middle East, China has called for a ceasefire while criticizing Israel’s actions. It also highlights China’s deep economic interests in both Russia and the Middle East, which it wants to safeguard at all cost. The world’s second largest economy depends on Russia and the Middle East for much of its energy needs. The Middle East is also a cornerstone in the Belt and Road Initiative. “Regional conflagration means long instability and long instability means no business for China in the Middle East,” he added.

Persons: ”, Eswar Prasad, refiners, Vladimir Putin, Xi, Sergei Guneyev, Russia’s, Putin, Russia —, Wang Yi, Jean, Loup Samaan, Joe Biden, QatarEnergy, Ahmed Aboudouh, Antony Blinken, Blinken, “ Organizations: Hong Kong CNN —, Moscow, Palestinian, Cornell University, Getty, Initiative, Shanghai’s Fudan University, United, China’s, Middle East Institute of, National University of Singapore, Wednesday, Jihad, Energy, China Petroleum & Chemical Co, Sinopec, Fudan University, Chatham House, US Department of State Locations: China, Hong Kong, Hong Kong CNN — Beijing, Ukraine, East, Palestine, Israel, United States, Russia, Beijing, Moscow, Saudi Arabia, Russian, AFP, Pakistan, Iran, Hamas, Tehran, Gaza, Qatar, China’s, Qatari, London, “, Persian, ”

☆ China's Xi, seeking end to Israel-Hamas conflict, calls for ceasefire and two-state solution
▼ + stars: | 2023-10-19 | by ( Nectar Gan | ) edition.cnn.com time to read: +4 min

CNN —A two-state solution to establish an independent Palestine is the “fundamental way out” of the Israel-Hamas conflict, Xi Jinping said Thursday in the Chinese leader’s first public comments on the war since it broke out nearly two weeks ago. Xi also praised Egypt for playing an “important role” in cooling tensions, adding that China supports its efforts to let in humanitarian aid to Gaza, CCTV reported. Israel’s subsequent bombardment and siege of Gaza has killed some 3,500 Palestinians, including hundreds of children, according to local health authorities. Hours before Biden landed in Israel, Russia’s Vladimir Putin arrived in Beijing for the Belt and Road Forum. During their meeting, the two leaders discussed the conflict in the Middle East, which Putin said was a “common threat” that brought Russia and China closer together.

Persons: Xi Jinping, ” Xi, Mostafa Madbouly, Xi, Joe Biden, Abdel Fattah el, Biden, Russia’s Vladimir Putin, Putin, Israel –, Wang Yi, Zhai Jun Organizations: CNN, Egyptian, US, Israel, World Health Organization, Hamas, Biden, Chinese Foreign Ministry, Middle East Locations: Palestine, Israel, Beijing, China, Egypt, Gaza, Rafah, American, Russia, Europe, Ukraine

☆ Country Garden and China's housing market struggle will weigh on global growth
▼ + stars: | 2023-10-19 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —China’s real estate market remains a drag and will put pressure on global growth. The data comes at a time when Country Garden, once the country’s biggest homebuilder, is fighting for its life. The property slowdown will impact not just China, but also global growth, the International Monetary Fund (IMF) said on Wednesday. Global impactThe IMF said China’s property downturn will weigh on global growth prospects. Country Garden issued a statement on Thursday, threatening to pursue legal action against anyone spreading “malicious rumors” about its founder fleeing the country.

Persons: Hong Kong CNN —, ”, Krishna Srinivasan, Srinivasan, Yang Huiyan, Yang Guoqiang Organizations: Hong Kong CNN, National Bureau of Statistics, International Monetary Fund, NBS, IMF, Pacific Department Locations: China, Hong Kong, Beijing, Ukraine, Asia

At the Belt and Road Forum in Beijing, United Nations Secretary-General Antonio Guterres called for an immediate humanitarian ceasefire. “China is endeavoring to build itself into a stronger country and rejuvenate the Chinese nation on all fronts by pursuing Chinese modernization. World leaders, representatives and delegations from more than 140 countries – including in the Middle East and the Taliban – are attending the gathering marking one decade since the launch of Xi’s flagship Belt and Road Initiative. Beijing aims to gloss over these challenges at the gathering to project its power and laud its contributions to global development as a prime example of its superior leadership. “What has been achieved in the past 10 years demonstrates that Belt and Road cooperation is on the right side of history.

Persons: Vladimir Putin, Xi Jinping, Putin, Xi, “, Joe Biden, Antonio Guterres, “ I’m, ”, ” Xi, Kassym, Joko, laud Organizations: Beijing CNN —, Wednesday, Forum, Initiative, of, Israel, United Nations, CCTV, West, International, Hosting, Beijing –, Communist Party, Beijing Locations: Beijing, China, Russia, Israel, Europe, United States, Ukraine, Russian, Zaporizhzhia

That adds to tech-related tensions between the West and China, which is one of Europe’s biggest trading partners and the world’s biggest auto market. Chinese EV makers are drawn to Europe because auto import tariffs are just 10% versus 27.5% in the U.S., independent auto analyst Matthias Schmidt said. MG — owned by SAIC Motor, China’s biggest automaker — is the largest Chinese EV player in Europe. One reason Chinese companies can offer high-quality cars at affordable prices stems from the rules to enter the Chinese market. Chinese EV makers, meanwhile, are trying to stand out in a crowded field.

Persons: Laima Springe, Janssen, “, ” Springe, I’m, ”, Matthias Schmidt, John Kirkwood, —, Kirkwood, Warren Buffett, Ursula von der Leyen, Alfa, China’s EVs, Carlos Tavares, we’re, Alexander Klose, ” Klose, Schmidt, Justin Nicholls, Nicholls Organizations: Volvo, Nissan, Skoda, Union, EV, Volkswagen Passat, Kia, MG, SAIC Motor, China’s, —, Lotus, Chinese Commerce Ministry, EU, World Trade Organization, Tesla’s, Peugeot, Citroen, Alfa Romeo, Fiat, Global, Wall Motors Locations: Copenhagen, Denmark, Europe, China, West, U.S, British, Western, France, Germany, Beijing, Shenyang, Shanghai, Israel

They took swipes at the United States and depicted themselves as building a “fairer, multipolar world.” And they marveled at their countries’ “deepening” trust. And he gave a prominent role to President Vladimir V. Putin of Russia, underscoring how central their relationship is to Mr. Xi’s vision. Mr. Putin was treated as the guest of honor and often pictured by Mr. Xi’s side. While Mr. Putin and Mr. Xi huddled, President Biden landed in Israel on a visit aimed at preventing the war between Israel and Hamas from spreading. Though Mr. Xi did not publicly remark on the war, Mr. Putin, at a news briefing, blamed the United States for increasing tensions in the Middle East by sending warships to the region.

Persons: Xi Jinping, Vladimir V, Putin, Mr, Xi, Biden, ” Locations: China, Russia, United States, Beijing, Ukraine, Gaza, Israel, Russo

TAIPEI, Taiwan (AP) — The leaders of Russia and China met Wednesday in Beijing and called for close foreign policy coordination, as concerns grow about possible conflicts with the West over Moscow’s invasion of Ukraine and Beijing’s rising threats against Taiwan. “In the current difficult conditions, close foreign policy coordination is especially required," Putin said in his opening remarks. Just weeks before Russia’s invasion of Ukraine last February, Putin met with Xi in Beijing and the sides signed an agreement pledging a “no-limits” relationship. Beijing’s attempts to present itself as a neutral peace broker in Russia’s war on Ukraine have been widely dismissed by the international community. China, meanwhile, has increased military harassment of self-ruled Taiwan, the island democracy it claims as its own to be united by force if necessary.

Persons: Xi Jinping, Vladimir Putin, Putin, ”, Xi, Beijing’s Organizations: Wednesday, West, Taiwan, Initiative, Ukraine Locations: TAIPEI, Taiwan, Russia, China, Beijing, Ukraine, Asia, “, Moscow

☆ China’s GDP allows room for stimulus waiting game
▼ + stars: | 2023-10-18 | by ( Chan Ka Sing | ) www.reuters.com time to read: +3 min

HONG KONG, Oct 18 (Reuters Breakingviews) - For any major economy, 5% growth ought to be respectable. Yet anxiety over the attainability of that official target this year is one reason China's policymakers have faced growing calls from global stakeholders for more stimulus. The country’s GDP has grown 5.2% in the first nine months of this year. The world’s second-biggest economy grew 5.2% in the first nine months of 2023. The Chinese government has set a 5% growth target for this year.

Persons: Una Galani, Thomas Shum Organizations: Reuters, Services, National Bureau, Statistics, Thomson Locations: HONG KONG, Beijing, China

☆ China's Q3 GDP seen slowing as Beijing races to revive growth
▼ + stars: | 2023-10-17 | by ( Kevin Yao | ) www.reuters.com time to read: +3 min

Gross domestic product (GDP) likely grew 4.4% in July-September from a year earlier, according to economists polled by Reuters, slowing from the 6.3% pace in the second quarter. Separate data on September activity is expected to show retail sales growth picking up but factory output slowing. Economic growth is seen hitting 5.0% this year, according to the poll, broadly in line Beijing’s full-year target, before slowing to 4.5% in 2024. For its part, the central bank is constrained by how much it can ease monetary policy due to worries about adding pressure on the yuan, which has tumbled 5.7% this year. The central bank cut the RRR in September to boost liquidity and support the economic recovery, its second reduction this year.

Persons: Thomas Peter, ”, Ting Lu Organizations: Central Business District, REUTERS, Gross, Reuters, Nomura Locations: BEIJING, Beijing, China

Hailed by Xi as a “project of the century,” the BRI has emerged as a glaring symbol of China’s rise as a global power. Chinese investment in BRI projects has tapered off as the world’s second-biggest economy slows. The opening ceremony of Cambodia's Morodok Techo National Stadium, funded by China's Belt and Road Initiative, in Phnom Penh on December 18, 2021. Later that year, Xi pledged that China would not build any new coal-fired power projects abroad. The BRI has also spurred other countries to increase their own efforts toward supporting infrastructure projects in the developing world.

Persons: Russia’s Vladimir Putin, Xi Jinping, Xi, –, Cambodia's, Lon Jadina, William & Mary, Marshall, China, ” Organizations: Beijing CNN, Initiative, China's, Getty, BRI, Boston, Global, Policy, William &, Marshall Plan, Global Development Policy Center, World Bank, Global Development, United Arab, European Union Locations: Beijing, China, Israel, Asia, Latin America, Africa, Europe, Ukraine, United States, Phnom Penh, AFP, Papua New Guinea, Kenya, Sri Lanka, West Africa, America, Southeast Asia, Hambantota, Saudi Arabia, United Arab Emirates, France, Germany, Italy, East

☆ Xi and Putin to reunite in China as divisions with the West sharpen
▼ + stars: | 2023-10-16 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +8 min

Putin and Xi, who frequently refer to their close friendship, have met 40 times in the past decade, including twice since the start of the war in Ukraine. “And for China, having an important international player like Putin to join the BRI summit is also politically important,” he added. Chinese leader Xi Jinping inspects the honor guard at the Moscow Vnukovo Airport on March 20, 2023. Last year, Russia and China saw record trade, which continued to grow in 2023. Xi and Putin are expected to discuss the conflict in their upcoming meeting – where Russia’s war in Ukraine will also likely feature.

Persons: Vladimir Putin, Xi Jinping, Ukraine –, ’, Xi, Putin, “, ”, Li Mingjiang, Xie Huanchi, “ China, Alex Gabuev, it’s, Xu Wei, Joe Biden, Wang Yi, Israel –, Li, don’t Organizations: Beijing CNN —, Hamas, Palestinian, Forum, West, Singapore’s Nanyang Technological University, Moscow Vnukovo Airport, Getty, Carnegie Russia Eurasia Center, ’, Xinhua, United Nations Security, UN, Israel, Ukraine Locations: China, Beijing, United States, Ukraine, Moscow, Russian, Kyrgyzstan, Russia, Xinhua, Europe, Berlin, East, Israel, Gaza, Leningrad, Singapore

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