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☆ China wants a fleet of aircraft carriers for pride and power, and it's building it at a breakneck pace
▼ + stars: | 2024-06-15 | by ( Chris Panella | ) www.businessinsider.com time to read: +9 min

Read previewChina is building a fleet of aircraft carriers, making technological and capability jumps at a breakneck pace. An aerial drone photo taken on May 1, 2024 shows China's third aircraft carrier, the Fujian, during its maiden sea trials. The aircraft carrier USS Gerald R. Ford transits the Strait of Gibraltar, Jan. 5, 2024. For China, having aircraft carriers allows it to enjoy many of those perks. A composite image shows the American flag flying near the bridge of the US Navy's first-in-class aircraft carrier USS Gerald R. Ford and the Chinese flag flying near China's aircraft carrier Shandong.

Persons: —, Pu, would've, Matthew Funaiole, Xi Jinping, Kyle Amonson, Dane Egli, Xi, Funaiole, Gerald R, Navy Petty, Jacob Mattingly, Trenton, Li Gang, Cmdr, Michael Dahm, Peter W, Singer, Guy Snodgrass Organizations: Service, Business, Ford, Getty, China Power, Center for Strategic, International Studies, Jiangnan Shipyard, Getty Images, People's Liberation Army, Communist Party, US Coast Guard, Pacific Affairs, Chinese Communist Party, US Navy, Navy, DoD Aircraft, South China Seas, Pacific, Communication, Trenton Edly, US, New America, Defense, PLA Navy's Locations: China, Fujian, Shandong, Liaoning, Xinhua, Getty Images China, Taiwan, People's Republic of China, Gibraltar, Jan, South, Beijing

☆ Saudi Arabia is seeking billions in Chinese investment for Neom. But it comes with a massive risk.
▼ + stars: | 2024-06-13 | by ( Tom Porter | ) www.businessinsider.com time to read: +7 min

Read previewAt a recent exhibition in Hong Kong, Saudi Arabia showcased its futuristic vision for its planned Neom megacity. It was part of Saudi Arabia's drive to secure billions in new investment for the project, which is the centerpiece of Saudi ruler Mohammed bin Salman's Vision 2030 strategy. China sees Saudi Arabia as not just a business opportunity but a way of undercutting the influence of its longtime Saudi ally, the US. AdvertisementIn April, Saudi Arabia's Public Investment Fund-subsidiary Alat signed a deal with Dahua Technology, one of China's most important surveillance technology firms. "The main risk today to Saudi Arabia's tech cooperation with China is the growing China-US tech war.

Persons: —, Mohammed bin Salman's, Xi Jinping, Mohammed bin Salman Al Saud, Yue Yuewei, Leonard Chan, Robert Mogielnicki, Abdullah Al, Crown Prince Mohammed, Alat, GREG BAKER, Camille Lons, Neom that's, Saudi Arabian Crown Prince Mohammed bin Salman, Saudi Arabia's, Biden Organizations: Service, Business, Saudi, Saudi Crown Prince, Getty, Hong Kong Innovative Technology Development Association, Gulf States Institute, Crown, Public Investment Fund, Dahua Technology, US, European Council, Foreign Relations, Saudi Arabian Crown, New York Times Locations: Hong Kong, Saudi Arabia, Saudi, Riyadh, Xinhua, China, Washington, Neom, Riyadh Tower, Beijing, Israel

☆ Macron's snap election gamble in France resurfaces an old criticism — that he's arrogant
▼ + stars: | 2024-06-11 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +7 min

Left-leaning newspaper Liberation described the snap election call as an "extreme gamble," while the center-right Le Figaro ran a brief headline Monday: "Le choc" ("shock"). That happened well before the humiliation of the European election results, in which Macron's Renaissance party got less than half as many votes as the far-right Rassemblement National ... In the meantime, other commentators and newspapers, such as Les Echos, have characterized Macron's move as a game of poker. Macron's supporters defend the president as a self-made and ambitious man who has a direct way of speaking to voters. "First, he has interpreted the vote for the European Parliament as a personal insult, as a rejection of his domestic policy direction.

Persons: Emmanuel Macron, Xi Jinping, Ursula von der Leyen, Gonzalo Fuentes, Emmanuel Macron's, Macron, drubbing, Jordan Bardella, Le Figaro, Alexis Brézet, Fenoglio, Macron's, it's, Robert Ladrech, Chirac Organizations: Reuters, Macron's Renaissance Party, National Assembly, Le Monde, CNBC, Keele University Locations: Paris, France, what's, EU

☆ India's race to overtake China will intensify after Modi's reelection because they have the same obsession, analyst says
▼ + stars: | 2024-06-09 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Read previewIndian Prime Minister Narendra Modi this week secured a historic third term in office — and it's likely to intensify India's economic rivalry with China. Both India and China will be focused on manufacturingTo reach its goal, Modi's India will likely be going big on manufacturing. Companies are diversifying their operations outside China to avoid over-relying on one country, and India is aiming to be the new China. AdvertisementIndia's foreign policy toward China is unlikely to change following Modi's re-election, Ivan Lidarev, an Asian security scholar at King's College London, told Channel NewsAsia. "I think India has strived to position itself as a leader of the global south, and of course, China wants this position," added Lidarev.

Persons: —, Narendra Modi, David Lubin, Modi, Xi Jinping, Bharat, Lubin, Raghuram Rajan, NPR's, Rajan, It's, William Lai's, Mao Ning, Ivan Lidarev Organizations: Service, London, Business, South, Central Bank of India, EV, King's College London, West Locations: —, China, Asia, India, Vietnam, Bangladesh, Malaysia, Delhi, Taiwan, Beijing

☆ Putin and his Kremlin clique are rolling out their own kids at the 'Russian Davos'
▼ + stars: | 2024-06-06 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Read previewIt's the time of the year for the St. Petersburg International Economic Forum — or the "Russian Davos," as it's sometimes called. This year, the biggest names attending the event include Bolivian President Luis Arce and Zimbabwean President Emmerson Mnangagwa. Related VideoBut the four-day economic forum, which started on Wednesday, now also features the children of the Kremlin's top echelons, Bloomberg reported on Wednesday. Advertisement"Now that this opportunity has become harder, the way to protect themselves is to appoint their children as bosses," Schulmann told Bloomberg. Putin is scheduled to address the economic forum on Friday.

Persons: —, Vladimir Putin's, Emmanuel Macron, Xi Jinping, Narendra Modi, Angela Merkel, Luis Arce, Emmerson Mnangagwa, Maria Vorontsova, Katerina Tikhonova, Anton Vaino's, Alexander, Ekaterina Schulmann, Schulmann, Putin Organizations: Service, St ., Economic, Indian, Business, Bolivian, Bloomberg, Russian Association for, Kremlin, Carnegie Russia Eurasia Center Locations: St, St . Petersburg, Russian Davos, Russian, Russia, Ukraine, Berlin

☆ Slamming China over its stance on Russia and the war, Ukraine might have made a big miscalculation
▼ + stars: | 2024-06-06 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +6 min

Ukrainian President Volodymyr Zelenskyy's very public criticism of China over its relationship with Russia and cool stance toward a forthcoming peace summit could end up backfiring on Kyiv, analysts say. China analysts say Zelenskyy's outburst was a risky move that could antagonize and alienate Beijing — and push it closer to Russia. Russian President Vladimir Putin and Chinese President Xi Jinping bid farewell at the end of talks in Beijing, China May 16, 2024. China confirmed last week that it would not send a delegation to the Ukraine peace summit set to be held at the Bürgenstock resort above Lake Lucerne, saying the event does not meet its expectations that both Russia and Ukraine take part. Ukraine's President Volodymyr Zelenskyy speaks with Chinese President Xi Jinping via phone line, in Kyiv on April 26, 2023.

Persons: Volodymyr Zelenskyy's, Zelenskyy, Volodymyr Zelenskyy, Edgar Su, Astrid Nordin, Putin, Xi Jinping, Vladimir Putin, Mikhail Metzel, it's, Mao Ning, Bonnie Glaser, Glaser, Xi, Joe Biden, Kamala Harris, Jake Sullivan, Volodymyr Zelenskiy, Leah Millis Organizations: Beijing, Reuters, Ministry, Chinese International Relations, King's College London, CNBC, Putin, Russian, Via Reuters, Presidential Press Service, Foreign, Asia, German Marshall Fund of, National Security, White Locations: China, Russia, Kyiv, Singapore, Ukraine, Moscow, Switzerland, Reuters China, Beijing, Via, Via Reuters China, Lake Lucerne, United States, Saudi Arabia, California, Hollywood, Moscow . U.S, Washington , U.S

☆ Chinese trade group seeks drone jammers for Russian buyers
▼ + stars: | 2024-06-05 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —A Chinese government trade body has sought drone detectors and jammers for apparent Russian buyers, adding to concerns that Beijing may be supplying dual-use technology to Moscow. They are known for being used by the Russian army during its 2022 invasion of Ukraine to identify drone activity. He told CNN by phone that it was removed because it was “improper.” CNN has also reached out to the Yunfu trade association for comment. Mastro said she is “not particularly surprised” that local Chinese governments would help Russian companies seek drone equipment. Last week, the US warned it could act against Chinese firms and financial institutions in response to Beijing’s alleged backing of Russian war efforts.

Persons: Vladimir Putin, Xi Jinping, Volodymyr Zelensky, “, ”, Oriana Skylar Mastro, Stanford University’s Freeman, Mastro, doesn’t, Antony Blinken, Washington Organizations: Hong Kong CNN, Guangdong Provincial Association, Promotion of, province’s Commerce Department, Assel Labs, 3MX, City’s Association, Promotion of International Trade, United, CNN, US, Stanford, Stanford University’s Freeman Spogli Institute for International Studies Locations: China, Hong Kong, Beijing, Moscow, Guangdong, Russia, Russian, Ukraine, United States, Singapore, “ Beijing

☆ Modi is on a mission to assert India's global power. His election setback won't deter him.
▼ + stars: | 2024-06-05 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

Read previewIndia's Prime Minister Narendra Modi emerged from Tuesday's election with his air of invincibility damaged. AdvertisementA leader of the global southUnder Modi, India's growth has put it on the path to becoming the world's third-biggest economy by 2027 — and it has become an important and increasingly abrasive global power player. He has sought to balance this by forming ties with US adversary Russia and has clashed with Asia's chief power, China. Advertisement"This election result is unlikely to have much of an impact on India's international security actions," said Rossow. Alexandr Demyanchuk/AFP/Getty ImagesBut there will be serious challenges for Modi in seeking to cement India's new global status.

Persons: —, Narendra Modi, Modi, Richard Rossow, Joe Biden, Dan Kitwood, it'll, Rossow, Modi's, Vladimir Putin, Alexandr Demyanchuk, Vladimir Putin's, Washington, China's Xi Jinping, Putin, Ashley J Organizations: Service, BJP, Business, Modi, UN Security Council, Center for Strategic, International Studies, India, US, UK, Washington Post, Indian, Shanghai Cooperation Organisation, Carnegie Endowment, International Peace Locations: India, Russia, China, New Delhi, Australia, Japan, Canada, Russian, Samarkand, AFP, Vladimir Putin's Russia, Ukraine, Pakistan

☆ Opinion | This D-Day, Europe Needs to Resolve to Get Its Act Together
▼ + stars: | 2024-06-04 | by ( Bret Stephens | ) www.nytimes.com time to read: +1 min

Thursday’s D-Day anniversary — the 80th — is occasioning somber and anxious reflections about the fate of the Atlantic alliance. Somber because the last of the Greatest Generation will soon no longer be with us. Anxious because Donald Trump, and his evident disdain for that alliance, may soon be with us again. Europe today faces four great challenges that typically determine the fate of great powers. 28 — the 27 countries currently in the European Union, plus Britain — accounted for 36.3 percent of global gross domestic product.

Persons: Thursday’s, Donald Trump, Vladimir Putin, Xi, Trump, Kennedy Organizations: European Union, Microsoft, Nvidia Locations: Europe, Britain, United States

☆ Australia orders Chinese investors to sell down stake in rare earths miner
▼ + stars: | 2024-06-03 | by ( ) www.cnbc.com time to read: +3 min

Australian Treasurer Jim Chalmers has ordered several China-linked investors to dispose of shares in rare earths miner Northern Minerals on national interest grounds, a spokesperson said on Monday. Northern Minerals is developing the Browns Range heavy rare earths project in Western Australia, at a time when the sector has become increasingly strategic for its uses in green energy and defence. Yuxiao Fund is the Singapore-registered private investment vehicle of Chinese national Wu Yuxiao, Reuters has previously reported. "The decision, based on advice from the Foreign Investment Review Board, is designed to protect our national interest and ensure compliance with our foreign investment framework." Chinese Foreign Minister Wang Yi said on a visit in March that he hoped Australia would ensure its market environment did not discriminate against Chinese business.

Persons: Jim Chalmers, Chalmers, Yuxiao, Wu Yuxiao, Adam Handley, Wu Tao, Ximei Liu, Xi Wang, Nick Curtis, Curtis, Premier Li Qiang, Wang Yi Organizations: Minerals, Northern Minerals, Browns, Sunday, Reuters, Investment, Board, Jinan Yuxiao Group, Stone Resources, Foreign Investment, China, Northern, Premier Locations: China, Western Australia, Yuxiao, Singapore, Jinan, Northern, Australia, Canberra, Beijing

☆ Taiwan celebrities Mayday, Jolin Tsai in crossfire of political battle as tensions with China rise
▼ + stars: | 2024-06-03 | by ( Nectar Gan | ) edition.cnn.com time to read: +8 min

On Douban, a popular site for reviewing movies, books and music, users compiled a list of nearly 100 Taiwanese celebrities, detailing whether each of them had shared the post. On Saturday, CCTV publicly endorsed Taiwanese celebrities who shared its post, sharing the screenshots of 36 such reposts – fueling a further backlash against those who hadn’t. On Monday, Taiwan’s Mainland Affairs Council weighed in, accusing the Chinese Communist Party of requiring Taiwanese artists to express a political stance. The remarks and retweets by Taiwanese artists of the CCTV unification post came against the backdrop of China’s largest show of force around the island in more than a year. “This is not the first time, and probably not the last, that Taiwanese artists are forced to make a political stand in China,” said the leader.

Persons: Mayday’s, Ashin, ”, –, Xi Jinping, Jolin Tsai, Edgar Su, China’s, Beijing’s, ’, Tsai, “, Lin Chen, ” Lin, Lai Ching, Ichiro Ohara, Lai, Zhu Fenglian, ” Zhu, Lin Organizations: CNN, Party, China, Democratic Progressive Party, Cardiff University, Facebook, Mainland Affairs Council, Chinese Communist Party, Communist, Yomiuri Shimbun, Taiwan Affairs Office, “ Locations: Beijing, Taiwan, China, Taipei, Taiwanese, “, Nanchang ”, Singapore, Weibo, ” Beijing

☆ Ukraine says China is in Russia's pocket. It may be the other way around.
▼ + stars: | 2024-06-03 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

Read previewAt the Shangri-La conference in Singapore on Sunday, Ukraine's President Volodymyr Zelenskyy accused China of doing Russia's bidding in seeking to disrupt a peace conference scheduled for June. "Regrettably this is unfortunate that such a big independent powerful country as China is an instrument in the hands of [Russian President Vladimir] Putin," said Zelenskyy of China, whose economy is vastly bigger than Russia's. Zelenskyy's remarks highlight the increasing interdependence between China and Russia in the wake of Russia's 2022 Ukraine invasion. It's bad news for Russia's President Putin, with the Russian gas industry having been badly impacted by sanctions and increasingly dependent on exports to non-Western countries, notably China. AdvertisementIf Xi comes out of the Ukraine war with little to show, then his credibility and bid to assert China as the world's major power will be seriously dented.

Persons: —, Volodymyr Zelenskyy, Vladimir, Putin, Xi Jinping, Xi, he's Organizations: Service, Business, Financial, Russia's, Central Asian Republics Locations: Singapore, China, Russia, Ukraine

☆ Inside China's plan for AI: shape reality and enforce its power
▼ + stars: | 2024-06-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at China's strict approach to overseeing its AI development and the threat it poses to the world. The country's history of censorship and surveillance is extending to its approach to AI , writes Business Insider's Linette Lopez. AdvertisementThe CCP's plan for AI is about shaping reality and enforcing its power, according to internal documents. What to do ahead of May's jobs report. Permabull Tom Lee said it's a great time to buy stocks — shocking — with a new jobs report set to drop on Friday.

Persons: —, Kiran Ridley, Stringer, Getty, Tyler Le, Insider's Linette Lopez, Linette, chatbots, Jinping, Xie Huanchi, we've, Ken Griffin's, Permabull Tom Lee, it's, Stocks, Keith Gill, It's, Amazon's, Alyssa Powell, boomer, Gen, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett, Annie Smith Organizations: Service, Harvard, Business, Chinese Communist Party, of, People, Getty, Citadel Securities, BI, GameStop, Cloud, Prime, Apple, American Express, Research, Boomers Locations: China, Beijing, Xinhua, New York, London, Chicago

☆ China, Xi Jinping's Plan for AI Will Wreak Havoc on the World Economy
▼ + stars: | 2024-06-02 | by ( Linette Lopez | ) www.businessinsider.com time to read: +18 min

According to the CCP's plan, by 2020, China was supposed to have "achieved iconic advances in AI models and methods, core devices, high-end equipment, and foundational software." Censorship requirements may slow China's AI development and limit the commercialization of domestic models, but they will not stop Beijing from benefiting from AI where it sees fit. We're not seeing a huge gap between the models Chinese companies have been able to roll out. The current price war is a race to the bottom, similar to what we've seen in the Chinese technology space before. A race to the bottom may simply beggar China's AI ecosystem.

Persons: Xi Jinping, China doesn't, there's, Beijing's, Reva Goujon, We're, It's, ChatGPT, Xie Huanchi, couldn't, you'll, —, Kenneth DeWoskin, it's, Matt Sheehan, they're, chatbot, Sheehan, Ernie Bot, There's, Alibaba, ByteDance's, Paul Triolo, Albright, we've, haven't, DeWoskin, Sam Altman, Elon Musk Organizations: Chinese Communist Party, CCP, Intelligence, Cyberspace Administration, Getty, Freedom, University of Michigan, Deloitte, CAC, Carnegie Endowment, International Peace, Baidu, Bloomberg, Companies, Brookings Institution, Beijing, The Commerce Department Locations: China, Beijing, China's, Hong Kong, Xinhua, , Washington, Brussels, Berlin, Taiwan, US, Xinjiang

☆ China claims married couple working for government spied for UK’s MI6
▼ + stars: | 2024-06-02 | by ( Nectar Gan | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —China on Monday accused Britain of recruiting a married couple employed by the Chinese central government to spy for its MI6 intelligence service, as the two countries trade allegations of espionage. Those charges in the United Kingdom came after China’s MSS said in January it had detained the head of a foreign consultancy who had allegedly spied for MI6. Under Xi Jinping, China’s most authoritarian leader in decades, the country’s notoriously secretive spy agency has drastically raised its public profile and broadened its remit. In its latest statement Monday, the MSS detailed its allegations against the married couple. According to the MSS, foreign spies are omnipresent and infiltrating everything – from mapping apps to weather stations.

Persons: Hong, Xi, Wang, “, –, Zhou, ” Organizations: Hong Kong CNN, Ministry of State Security, Conservative Party, China’s, ”, CNN, Britain’s Foreign, Secret Intelligence Service, CIA Locations: Hong Kong, China, British, United Kingdom, Britain

☆ What was it like to cook for Xi Jinping and Emmanuel Macron?
▼ + stars: | 2024-06-01 | by ( Maggie Wong | ) edition.cnn.com time to read: +8 min

The chance to cook for a mystery guestChef Mauro Colagreco, seen here shaking Chinese leader Xi Jinping's hand, was one of three chefs invited to prepare the recent state dinner in France. In addition to the Plaisance restaurant in Hong Kong, his restaurant group now has five establishments in mainland China. Then, on the morning of the state dinner, the Mirazur team arrived to start preparing for the evening alongside the other chefs. Lai Sun DiningAt Colagreco’s Plaisance restaurant in Hong Kong, diners will get to sample all three of the dishes Xi and Macron were served during the recent state dinner. The cost of the three-course option starts from 1,888 Hong Kong dollars ($241), while the six-course menu is 2,888 Hong Kong dollars ($369).

Persons: Xi Jinping, he’s, Xi, Emmanuel Macron, Mauro Colagreco, Xi Jinping's, Laurent Blevennec, Colegreco, Colagreco, “, ”, Fabrice Desvignes, Brigitte Macron, France’s, It’s, Mauro Colagreco's, Peng Liyuan, Pierre Gagnaire, Vin Jaune, verbena pavlova, Nina Métayer, Fromagerie Organizations: Hong Kong CNN, CNN, Michelin, Colagreco's, Colagreco’s, Hong Locations: Hong Kong, bao, Beijing, Europe, Paris, China, France, Plaisance, Menton, Elysee, Argentine, Mirazur, Asia, Shanghai, Cognac, Port, Madeira, Jura, refiner, Colagreco's Plaisance, Colagreco’s Plaisance

He also warned that the death of any Filipino citizen at the hands of another country in the South China Sea would be “very close” to an act of war. It is also a rare opportunity to hear from, and pose questions to, senior Chinese military leaders. Robert Ward, IISS Japan chair, told CNN he felt Dong’s tone was “more shrill” than he’s seen in previous speeches by Chinese defense chiefs at the gathering. “The strategic environment in Asia has actually got more tense and I think we saw that in the Chinese defense minister’s speech today,” Ward said. “Every year for three years, a new Chinese defense minister has come to Shangri-La,” the official told CNN.

Persons: Dong Jun, ” Dong, ”, Xi Jinping, Dong, Lloyd Austin, ” China’s, “, Lai Ching, China, Ferdinand R, Marcos Jr, Austin –, China “, Robert Ward, he’s, ” Ward, they’ve Organizations: Singapore CNN, Taiwan, National Defense, Communist Party, Democratic Progressive Party, China’s Defense Ministry, South China, Austin, International Institute for Strategic Studies, CNN, US Locations: Singapore, Beijing, Taiwan, United States, China, Taiwan Strait, East, South, South China, Philippines, ”, American, The Hague, Philippine, Ukraine, Dong, Russia, Asia, Pacific, Japan

The meeting, between US Defense Secretary Lloyd Austin and China’s Minister of National Defense Adm. Dong Jun, is the first face-to-face talks between the two defense chiefs and Austin’s first such discussions with a Chinese counterpart since late 2022. The meeting, on the sidelines of an annual defense conference in Singapore, takes place against a fraught regional backdrop. Austin is expected to raise concerns with Dong about China’s support for Russia, US officials said ahead of the meeting. Talks between Austin and Dong are not expected to see substantive progress towards resolving many entrenched issues between them. Several weeks later, US and Chinese top generals spoke in a video call, paving the way for this week’s in-person meeting between the defense chiefs.

Persons: Lloyd Austin, Dong Jun, Austin’s, China’s, Austin, Dong, Nancy Pelosi, Li Shangfu, Li, won’t, Xi Jinping’s, Xi, Joe Biden Organizations: Singapore CNN, US, National Defense, South China Seas, Communist Party, Coast Guard, Defense, Washington, Russia, America, East, Communist, Central Military Commission Locations: Singapore, Asia, Pacific, Taiwan, Beijing, East, South, Japan, South Korea, Philippines, China, South China, American, Russia, Ukraine, Austin, Asia –, San Francisco

☆ Trump’s conviction: The former US president is trending on Chinese social media, and many are rejoicing
▼ + stars: | 2024-05-31 | by ( Nectar Gan | ) edition.cnn.com time to read: +4 min

And as China woke up Friday to the news of Trump’s conviction on 34 felony counts of falsifying business records, the country’s heavily censored social media lit up. Under leader Xi Jinping, China’s most assertive leader in decades, the country’s social media platforms have become increasingly dominated by anti-American, nationalistic voices. Second, can he still run for president?”But analysts say Trump’s conviction could be a tricky topic for Chinese state propagandists to navigate. So far, Chinese state media outlets have yet to publish the kind of blistering commentaries that previously appeared alongside news coverage of Trump’s legal entanglements. Alfred Wu, an associate professor at the Lee Kuan Yew School of Public Policy at the National University of Singapore, said China’s state media is unlikely to play up the coverage in the days ahead.

Persons: Donald Trump, it’s, Communist Party —, China’s, “ Trump’s, ”, Trump, Chuan Jianguo, “ Trump, influencers, Xi Jinping, –, Hu Xijin, “, Bill Bishop, Alfred Wu, Lee, they’re, Wu Organizations: CNN, Communist Party, Xinhua, Washington, Global Times, Lee Kuan Yew, of Public, National University of Singapore Locations: China, United States, Weibo, Beijing, America

☆ Austin expresses 'concern' over China's activities in South China Sea
▼ + stars: | 2024-05-31 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

CNBC witnessed the two delegations walking out of the meeting venue, but neither Dong nor Austin responded to reporters' questions. According to a readout from the Pentagon, Austin said that the U.S. remains committed to its "one China" policy. He also added that more communication is necessary and will help to stabilize the military to military relations. The Pentagon readout mentioned Austin and Dong discussed North Korea's provocations, such as its contributions to Russia's war in Ukraine. Friday's meeting follows a video teleconference call between Austin and Dong in April.

Persons: Defense Lloyd Austin, Lloyd Austin, Dong Jun, Dong, Austin, Joe Biden, Xi Jinping, Wu Qian, Wu, CNBC's Lin Lin Organizations: Defense, SINGAPORE — U.S . Defense, CNBC, Pentagon, U.S, U.S . Department of Defense, PRC Locations: Singapore, Taiwan, SINGAPORE, China, U.S, Ukraine, Gaza, Austin

☆ US defense chief hails security partnerships in Asia in face of Russia, China threats
▼ + stars: | 2024-05-31 | by ( Brad Lendon | Nectar Gan | ) edition.cnn.com time to read: +5 min

Singapore CNN —US Defense Secretary Lloyd Austin on Saturday hailed the arrival of a “new convergence” in the Indo-Pacific, as the United States fortifies strategic and security partnerships in the region amid rising threats from China and Russia. “Today, we are witnessing a new convergence around nearly all aspects of security in the Indo-Pacific,” Austin said at the Shangri-La Dialogue security forum in Singapore. Looming large in that regional vision is a more assertive China, which Austin alluded to without mentioning it by name. Austin’s emphasis of a “new convergence” in Asia Pacific appeared to have struck a raw nerve with the Chinese delegation in the audience. Austin also reaffirmed US commitment to the Asia Pacific region, saying peace and stability across the region are crucial for the whole world.

Persons: Lloyd Austin, ” Austin, Austin, Lai Ching, “ We’ve, We’ve, we’ve, ”, Joe Biden, Xi Jinping, Cao Yanzhong, “, Mr.Putin, Dong Jun, Dong, Ferdinand R, Marcos Jr Organizations: Singapore CNN — US, Saturday, “, South China Seas, Asia Pacific, NATO, Institute of War Studies, Academy of Military Sciences of, China’s, National Defense Locations: Singapore, United States, China, Russia, Taiwan, Beijing, South China, Asia Pacific, South, Washington, Asia, Ukraine, Philippines, Philippine

☆ Nvidia's Jensen Huang receives a rockstar reception in Taiwan amid a record high stock market
▼ + stars: | 2024-05-31 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Read previewNvidia cofounder and CEO Jensen Huang is in Taiwan this week, where he's getting rockstar reception and boosting the stock market. The drills started on Thursday, but Taiwan's stock market was little changed over the period. "In this case, the AI equity theme, physical investment in AI, and the wider upturn in electronic component demand are driving robust Taiwanese growth and the strong stock market performance," wrote Green. He added that an outright invasion of Taiwan by China is "very unlikely" due to high military and economic risk. "If the macro backdrop is positive and China remains far from achieving 'fortress-like' economic conditions, future sell-offs may offer attractive buying opportunities," Green wrote.

Persons: —, Jensen Huang, Huang, Li Xi, Morris Chang, Lisa Su —, Pat Gelsinger, Cristiano Amon, Rene Haas, Rory Green, It's, Green Organizations: Service, China's People's Liberation Army, Business, Local, rockstar, Asus, AMD, Qualcomm, Semiconductor, PLA, Investors, Philadelphia Stock Exchange, Nvidia Locations: Taiwan, China, Beijing, TSMC, Taipei, Taiwan's, GlobalData.TS, Ukraine, Russia

☆ China's quest to turn the yuan into a global currency isn't actually driven by domination. It's about sanctions.
▼ + stars: | 2024-05-30 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

"Expanding the use of the renminbi in trade is less challenging than increasing its status as an international reserve currency," Liu wrote. The yuan faces challenges in its globalizationWhile the US and China's strategic competition points to a possible race for currency supremacy, the Chinese yuan is far from ready — and even Beijing knows that. AdvertisementHowever, capital controls are not necessarily a dealbreaker for the broader adoption of the yuan in trade, wrote Liu. It also shows it's not so easy to displace the mighty US dollar as the world's top reserve and trading currency of choice. A recent global survey of 1,660 enterprises showed that there is just not enough interest in using the yuan to trade.

Persons: —, Zoe Liu, Liu, Russia —, Xi, it's Organizations: Service, China Studies, Council, Foreign Relations, Business, Monetary, Financial, China's Bank of Communications, Renmin University Locations: China, Taiwan, London, Russia, Beijing, East Asia, Southeast, Central Asia

☆ China wants to turn the yuan into a global currency out of fear of sanctions, not domination
▼ + stars: | 2024-05-30 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Beijing's goal now is to minimize any impact from potential sweeping sanctions from the West in "extreme geopolitical scenarios," such as a military conflict over Taiwan, which China claims as its territory, wrote Liu. "Expanding the use of the renminbi in trade is less challenging than increasing its status as an international reserve currency," Liu wrote. AdvertisementHowever, capital controls are not necessarily a dealbreaker for the broader adoption of the yuan in trade, wrote Liu. It also shows it's not so easy to displace the mighty US dollar as the world's top reserve and trading currency of choice. A recent global survey of 1,660 enterprises showed that there is just not enough interest in using the yuan to trade.

☆ China’s Xi Jinping calls for peace conference and ‘justice’ over war in Gaza as Arab leaders visit Beijing
▼ + stars: | 2024-05-30 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —Chinese leader Xi Jinping decried “tremendous sufferings” in the Middle East and called for an international peace conference as leaders from Arab nations visit Beijing this week amid mounting global concern over Israel’s war in Gaza. Justice should not be absent forever,” Xi said Thursday at the opening of a meeting between top diplomats from China and Arab states, also attended by several leaders from the region. Delegations from 22 Arab states joined that event at Beijing’s Diaoyutai State Guesthouse, according to Chinese state media. China has recognized a Palestinian state since 1988. Thursday’s ministerial meeting is the first such gathering since China held its first joint summit with Arab leaders in late 2022 in Saudi Arabia.

Persons: Xi Jinping, ” Xi, Israel, Xi, ”, Abdel, Fattah, Mohamed bin Zayed Al Nahyan, Bahrain’s King Hamad bin Isa Al Khalifa, Kais Saied, China “, Yun Sun, Fatah, Joe Biden, Jamal Khashoggi, Egypt’s Sisi Organizations: Hong Kong CNN, United Arab Emirates, States Cooperation Forum, Diplomats, Stimson, UN Relief and Works Agency for Palestine Refugees, of Locations: China, Hong Kong, Beijing, Gaza, “, Palestinian, Rafah, United States, Israel, Washington, United, Palestine, Iran, Saudi Arabia, Istanbul

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