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Starbucks reported record revenue in its fourth quarter as it improved sales and efficiency at its existing stores and opened hundreds of new ones. The Seattle coffee giant opened 816 net new stores in the quarter, ending its fiscal year with more than 38,000 stores worldwide. But the company said an ongoing revamp of its existing North American stores is also improving sales and making operations more efficient. U.S. same-store sales rose 8%; store traffic was up 2% and consumers spent more per visit on things like food and customized drinks. Starbucks said store traffic in China rose 4% but consumers spent less per visit.

Organizations: Starbucks, FactSet Locations: Seattle, China

☆ Li Keqiang: Death of China’s former premier offers glimpse into discontent with Xi Jinping
▼ + stars: | 2023-11-01 | by ( Cnn Staff | ) edition.cnn.com time to read: +11 min

CNN —The sudden death of China’s former Premier Li Keqiang has spurred an outpouring of grief and mourning across the country. But for many, it also appears to offer a rare opening to air pent-up discontent with top leader Xi Jinping and the direction he has taken the country. His death, just months after his retirement, shocked the Chinese public. German Chancellor Angela Merkel and Chinese Premier Li Keqiang review a guard of honor prior to a meeting at the Chancellery on July 9, 2018 in Berlin, Germany. Chinese Premier Li Keqiang visits a hospital in Wuhan on January 27, 2020, days after the city was placed under a complete lockdown to curb the raging Covid-19 outbreak.

Persons: Li Keqiang, Xi Jinping, Li, Xi –, ”, Alfred Wu, Lee, “, Xi, Angela Merkel, Sean Gallup, Zhang Lun, Mao Zedong, Zhang, “ I’ve, Wu, Li Tao, Zhou Enlai, Mao, Hu Yaobang, Fish Leong, ” Zhang Organizations: CNN, Communist, Lee Kuan Yew, of Public Policy, Getty, Studies, University of Cergy, Peking University, Li, AP Party, Communist Party, Xinhua, CPC, Party Locations: Shanghai, China, Singapore, German, Berlin, Germany, Pontoise, France, Communist China, Wuhan, AFP, Yunnan province, Weibo, Malaysian, Hefei, Anhui, Zhengzhou, Henan, Beijing

☆ UK AI Safety Summit: who will attend and what’s on the agenda?
▼ + stars: | 2023-10-31 | by ( Martin Coulter | ) www.reuters.com time to read: +4 min

LONDON, Oct 31 (Reuters) - Britain will host the world's first global artificial intelligence (AI) safety summit this week to examine the risks of the fast-growing technology and kickstart an international dialogue on regulation of it. The aim of the summit is to start a global conversation on the future regulation of AI. Currently there are no broad-based global regulations focusing on AI safety, although some governments have started drawing up their own rules. A recent Financial Times report said Sunak plans to launch a global advisory board for AI regulation, modeled on the Intergovernmental Panel on Climate Change (IPCC). When Sunak announced the summit in June, some questioned how well-equipped Britain was to lead a global initiative on AI regulation.

Persons: Olaf Scholz, Justin Trudeau –, Kamala Harris, Ursula von der Leyen, Wu Zhaohui, Antonio Guterres, James, Demis Hassabis, Sam Altman, OpenAI, Elon Musk, “, Stuart Russell, Geoffrey Hinton, Alan Turing, Rishi Sunak, Sunak, Joe Biden, –, Martin Coulter, Josephine Mason, Christina Fincher Organizations: Bletchley, WHO, Canadian, European, United Nations, Google, Microsoft, HK, Billionaire, Alan, Alan Turing Institute, Life, European Union, British, EU, UN, Thomson Locations: Britain, England, Beijing, British, Alibaba, United States, China, U.S

☆ Israel war tests US appeal to global swing states
▼ + stars: | 2023-10-30 | by ( Hugo Dixon | ) www.reuters.com time to read: +7 min

FOURNI, Greece, Oct 30 (Reuters Breakingviews) - Joe Biden has sought to portray the United States as a superpower that cares about the rule of law. What’s more, swing states – which back neither the United States nor China – have more power than they did during the old Cold War between the West and the Soviet Union. Such pressure may convince some countries that the United States is pursuing a principles-based foreign policy in the Gaza conflict. The Israeli war may last a long time and its aftermath may be tortuous. But it could also have an important impact on the United States’ influence with swing states and its struggle with China.

Persons: Joe Biden, Vladimir Putin’s, Xi Jinping’s, Barack Obama, Republic –, Biden, Queen Rania, Jordan, Israel, Jake Sullivan, Israel –, Tayyip Erdogan, Benjamin Netanyahu, Mustafa Kamal Kazi, Netanyahu, What’s, Jonathan Cohen, Peter Thal Larsen, Thomas Shum Organizations: Reuters, Russian, U.S, Israel, United Nations General, Washington, UN Security Council, Security Council, Soviet Union, Members, United, Reuters Graphics Reuters, U.S . National Security, U.S ., West Bank, Thomson Locations: FOURNI, Greece, United States, Russia, China, Ukraine, Taiwan, Gaza, Israel, Republic, Saudi Arabia, Indonesia, U.S, Moscow, Soviet, India, Brazil, wean, Turkey, NATO, South Africa, Afghanistan, Iraq, Pakistani, Egypt, Israeli

☆ Wall Street’s glum rainmakers deserve more love
▼ + stars: | 2023-10-26 | by ( John Foley | ) www.reuters.com time to read: +7 min

Morgan Stanley’s (MS.N) investment banking revenue in the third quarter was its worst since 2009, at just over $1 billion. The rapid rise in interest rates, which makes traditional lending more lucrative for so-called universal banks, adds to the glum aura around investment banking. Reuters Graphics Reuters GraphicsInvestment banking isn’t the biggest part of any bulge-bracket firm’s revenue, but it’s disproportionately profitable. Goldman made nearly $8 billion more from investment banking in 2021 than in the last four quarters. Declining volatility in markets is great for deals, but it’s nowhere near as good for banks’ trading desks, which tend to thrive on choppy conditions.

Persons: Caitlin Ochs, Goldman Sachs, Morgan Stanley’s, Goldman, Morgan Stanley, James Gorman, Jane Fraser, David Solomon, they’re, Peter Thal Larsen, Oliver Taslic Organizations: New York Stock Exchange, REUTERS, Reuters, Exxon Mobil, Chevron, JPMorgan, Citigroup, Reuters Graphics Reuters Graphics Investment, Hamas, Goldman, Bank of America, Barclays, Citi, Thomson Locations: New York City, New York, U.S, catnip, Israel, China

☆ Nvidia is still the darling of Wall Street analysts, despite new AI chip restrictions. But for how long?
▼ + stars: | 2023-10-20 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +6 min

But, like us, Wall Street analysts have not waivered in their buy recommendations on Nvidia, despite acknowledging the semiconductor giant's opportunity in China may be diminished long term. Morgan Stanley left its Nvidia earnings estimates unchanged but adjusted the premium it expects investors to pay for those future earnings. All three firms maintained buy-equivalent ratings on Nvidia stock. The tougher export rules announced Tuesday specifically hit a pair of Nvidia AI chips designed to comply with Washington's initial restrictions last year. The A800 and H800 have slower data-transfer speeds than the cutting-edge AI chips Nvidia sells to U.S. technology firms, such as fellow Club holdings Microsoft (MSFT) and Oracle (ORCL).

Persons: Morgan Stanley, –, KeyBanc, Piper, Jim Cramer's, Jim Cramer, Jim, Tyrone Siu Organizations: Nvidia, Wall Street, Club, NVIDIA, Citigroup, Microsoft, Oracle, ., Nvidia —, CNBC, Nvidia Corporation Locations: China, San Francisco, U.S, Taipei, Taiwan

German Chancellor Olaf Scholz's coalition unveiled in July a strategy toward de-risking Germany's economic relationship with China, calling Beijing a "partner, competitor and systemic rival". German investment in Asia excluding China is rising as a share of overall investment. "No company is going to say that it will leave China," said Sandra Ebner, senior economist at Union Investment, Germany's second-largest fund manager. "But what companies are increasingly doing is to produce in China for China and to position themselves around China for the remaining Asian or global market." In July, German Economy Minister Robert Habeck travelled to India with a delegation of executives to discuss opportunities for German companies.

Persons: Thomas Nuernberger, Nuernberger, Olaf Scholz's, Volker Treier, Munk, Ferdinand Munk, Scholz, Angela Merkel's, Martin Brudermueller, Max Zenglein, Juergen Matthes, Markus Horn, Matthias Bianchi, Joe Biden, Wolfgang Niedermark, Jan Roennfeld, Roennfeld, Sandra Ebner, BDI's Niedermark, Robert Habeck, Christoph Steitz, Sarah Marsh, Maria Martinez, Aditya Kalra, Sarita Chaganti Singh, Xinghui, Orathai, Brenda Goh Organizations: Reuters, Commerce and Industry, Volkswagen, Mercedes, Benz, BASF, IW Institute, Big, Mercator Institute for China Studies, Economic Institute, Horn, German Association of, Indonesian Chamber of Commerce, Union Investment, Thomson Locations: FRANKFURT, BERLIN, Berlin, Beijing, China, Taiwan, India, Asia, Germany, Europe, Vietnam, South Korea, Indonesia, South China, European, Thailand, United States, Mexico, Indonesian, Eastern Germany, Malaysia, Frankfurt, New Delhi, Xinghui Kok, Singapore, Bangkok, Shanghai

☆ Belt and Road Forum: Beijing to host global gathering as Xi Jinping lays out China's vision
▼ + stars: | 2023-10-15 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +10 min

Russia’s Vladimir Putin, whose on-going assault on Ukraine is another major point of global instability and division, is expected to attend. The last time he was in Beijing was for the Winter Olympics opening ceremony in early 2022. Winning backing for China’s global leadership from a broad swath of developing and emerging economies is key to Xi’s strategy to push back against perceived international threats, analysts say. Overseas development finance from China’s two major development banks has also decreased significantly since a peak in 2016, the report’s data show. Ten years on, Chinese decision makers are becoming “more selective and more calculating” about the benefits of their financing, she said.

Persons: Xi Jinping, laud China’s, –, weren’t, Russia’s Vladimir Putin, ”, Craig Singleton, “, Kenya . Han Xu, Li Mingjiang, ” Jonathan Fulton, Luiz Inacio Lula da Silva, Cyril Ramaphosa, Narendra Modi, Sergei Lavrov, Alet Pretorius, ” It’s, Liang, Yun Sun Organizations: CNN, Global, Initiative, Foundation for Defense, Democracies, Getty, Communist Party, Hamas, Singapore’s Nanyang Technological University, Officials, Atlantic Council, Indian, Russia's, Boston University Global Development, Center, World Bank, Overseas, China’s National, Reform, China Program, Stimson Locations: China, Beijing, United States, Israel, Gaza, Ukraine, Ukraine’s, Washington, Kenya ., Xinhua, Russia, Moscow, China’s, Abu Dhabi, Fulton, Johannesburg, New Delhi, saddling

☆ America’s political turmoil hampers its capacity to lead through yet another global crisis
▼ + stars: | 2023-10-09 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

But no one could foresee just how quickly the paralysis in Washington would test the country’s reaction to a major global crisis. A situation this dangerous requires a calm, united and thoughtful US response, supported across the political spectrum. This means, at best, the United States will spend the coming months preoccupied by its own political plight. As president, I will once again stand with Israel,” Trump said. A growing sense abroad that America’s political problems are limiting its ability to lead globally could also have a devastating effect on its power.

Persons: –, Kevin McCarthy, Donald Trump, Joe Biden, “ Joe Biden, Israel, ” Trump, Biden, autocrats, doesn’t, Michael McCaul, Xi, Michael Lawler, “, ” Lawler, CNN’s Dana Bash, McCarthy, Jim Jordan, Trump, Steve Scalise, Ukraine –, America’s, Russia –, Antony Blinken, ”, Nikki Haley, Blinken, ” Haley, GOP Sen, Tim Scott of, Biden – Organizations: CNN, Republicans, Israel, Republican, Trump, Hamas, House Foreign Affairs, Texas Republican, GOP, Senate, Democratic, White, Russia, Republican Party, US Treasury Department, Union, United Nations, Press, Washington Locations: Israel, United States, Washington, Ukraine, Iran, Russia, China, “ State, Texas, New York, Kyiv, Beijing, Moscow, Tehran, Gaza, Islamic Republic, Saudi Arabia, Tim Scott of South Carolina

"The goal truly is channels of communication and ensuring we don't veer into conflict - simple as that," said a senior Biden administration official. The Biden administration wants to counter the country's growing military without provoking a conflict and to push back on what it considers unfair business practices while avoiding an all-out trade war. "The criticism we get from some on (Capitol) Hill and some in the academic community, of course, is that competing means you can't talk to China," said the administration official. NO DELAY IN CHINA POLICIESAdministration officials acknowledge China may see the U.S. push to engage as a chance to weaken or slow Washington's policies targeting China, particularly on exports in strategic industries such as semiconductors, but deny that this is happening. The administration official denied the delays were to avoid upsetting China but were about "getting the technical pieces right, and balancing economic impact on our own domestic competitiveness."

Persons: Antony Blinken, Leah Millis, Biden, Joe Biden, Xi Jinping, Ivan Kanapathy, Travis King, China –, Xi, San Francisco – doesn't, Mike Gallagher, Michael Martina, Humeyra Pamuk, Don Durfee Organizations: U.S, State Department, REUTERS, Rights, Biden, China, gaslight, White House National Security, Economic Cooperation, Republicans, China's Communist Party, CCP, Democratic, Inspur, Diplomats, Blinken, Thomson Locations: Mexico, Washington , U.S, United States, China, Beijing, U.S, stonewall, Asia, North Korea, San Francisco, CHINA, South China, Lincoln

☆ Here are all the portfolio moves the Club made in this week's oversold market
▼ + stars: | 2023-10-06 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +7 min

With the stock market deeply oversold this week, we put cash to work by picking stocks across a range of sectors including energy, technology and materials. With the market oversold, per the S & P 500 Short Range Oscillator , our investment discipline called for us to search for any dislocations within the portfolio. Tech stocks remained under pressure Tuesday afternoon, giving us an opportunity to buy 7 shares of Broadcom and lower our cost basis. But stocks returned to the red Thursday, and the market remained firmly in oversold territory. However, the market reversed course in midday trading, with all three major U.S. stock benchmarks trading sharply higher.

Persons: chipmaker, we've, –, Corona –, Jim, Elliott, We'd, Jim Cramer's, Jim Cramer, Spencer Platt Organizations: Coterra Energy, Devices, Broadcom, Starbucks, AMD, Tech, VMWare, Management, Wall, DuPont de Nemours, Oracle, Constellation Brands, DuPont, Modelo, Corona, Constellation, Elliott Management, U.S . Labor Department, Humana, CNBC, New York Stock Exchange, Getty Locations: China, oversold, ORCL, New York City

☆ Opinion: Washington’s turmoil plays right into Putin’s hands
▼ + stars: | 2023-10-05 | by ( Sheena Mckenzie | Opinion Frida Ghitis | ) edition.cnn.com time to read: +7 min

In the meantime, a top NATO official warned that the arsenal for supporting Ukraine is running low. Europeans, contrary to the claims of demagogues running for president, are spending heavily to support Ukraine. Their meeting erupted in a round of applause for the Russian president, with delegates shouting “Putin! He voted against four of five bills supporting Ukraine as it sought to defend itself from a Russian invasion, which is now in its 20th month. Asked if Ukraine would be able to fight without US military support, 37-year-old Olha said, “Of course, we will fight — but it will be many times bloodier.”

Persons: Frida Ghitis, you’ve, Kevin McCarthy, McCarthy, Olha Hrubryna, she’s, ”, “, ” Volodymyr Kostiak, MAGA, Robert Fico, Rob Bauer of, Vladimir Putin, Dmitry Peskov, Putin, Donald Trump –, Josep Borrell, Joe Biden, Paul Krugman, Krugman, Trump, “ Putin, Oksana Markarova, Steve Scalise, Jim Jordan, firebrand Trump, he’s, Olha Organizations: CNN, Washington Post, Politics, Republican, Frida Ghitis CNN, House Democrats, Ukraine, Capitol, NATO, European Union, Pro, Royal Dutch Navy, Soviet Union, European, Republican Party, New York Times, Political, firebrand, GOP Locations: Ukraine, Washington, Kyiv, Ukrainian, Slovakia, Russian, China, Russia, United States, –, Europe

CNN —A search and rescue operation has been launched for more than 100 missing people in India’s northeast after flash floods ripped through the Himalayan state of Sikkim Wednesday, killing at least 14 people and washing away roads and bridges, according to the state government. Known as the rooftop of the world, the ecologically-sensitive Himalayan region is prone to flash floods and landslides and flooding is not unusual in Sikkim. High water levels in the Teesta river in Sikkim, India, on October 4. Rising water levels of the Teesta river in Sikkim, India, after flash flooding indundated the region. About 2,000 people were evacuated after the flash floods in Sikkim.

Persons: Prem Singh Tamang, Narendra Modi, ” Organizations: CNN, Indian Army, of, Indian Space Research Organization, ISRO, ” ISRO, state’s Disaster Management Authority, Sikkim’s Department of Science, Technology, . Indian Army, India Meteorological Department, Indian, Indian Institute of Technology Locations: India’s, Sikkim, Lhonak, Sikkim’s, India, of Sikkim, Lhonak Lake, Pakyong, Gangtok, Pakistan, Peru, China, Government, Indian Institute of Technology Guwahati, Uttarakhand

☆ Siemens is case study in China de-risking dilemma
▼ + stars: | 2023-10-04 | by ( Pamela Barbaglia | ) www.reuters.com time to read: +9 min

That’s unsettling for the likes of Siemens, $62 billion carmaker Volkswagen (VOWG_p.DE) and $39 billion chemicals group BASF (BASFn.DE). Factor in the German group’s 32% stake in Siemens Energy (ENR1n.DE) and 75% holding in Siemens Healthineers (SHLG.DE), currently worth 46 billion euros, and it adds up to 156 billion euros. The unit and Siemens’ Airport Logistics unit, which press reports say could be another divestment candidate, may only be worth 4 billion euros combined. Moreover, Kaeser already tried to boost Siemens’ valuation by partially spinning off subsidiaries. As of September, Siemens had bought back 2.5 billion euros of shares since starting a 3 billion euro share repurchase programme in November 2021.

Persons: Roland Busch, France’s Legrand, Busch, Joe Kaeser, he’s, Kaeser, Germany’s Bundesbank, Siemens, Goldman Sachs, Judith Wiese, George Hay, Oliver Taslic Organizations: Reuters, Siemens, Germany’s, Barclays, Reuters Graphics Reuters, Volkswagen, BASF, Software, Dassault, Automation, ABB, Smart Infrastructure, Siemens Energy, Siemens ’ Mobility, France’s Alstom, CRRC Corporation, Siemens ’ Airport Logistics, Siemens Healthineers, Toshiba Corp, Energy, BNP, Bloomberg, Financial Times, Thomson Locations: China, Brussels, Beijing, Germany, EMEA, Swiss, Middle Kingdom, Republic, Shenzhen, Sichuan, Chengdu, Southeast Asia, Indonesia, Vietnam, Thailand

☆ Germany risks letting a good crisis go to waste
▼ + stars: | 2023-10-03 | by ( Pierre Briancon | ) www.reuters.com time to read: +8 min

Germany, the European Union’s largest economy and its traditional growth engine, is headed towards a contraction this year. Exports account for more than half of Germany’s GDP, compared to just a third in France and 37% in Italy, according to the World Bank. Germany’s growth potential is estimated at an annual 0.7% over the medium term by the Scope rating agency, about half the euro zone average. Exempting net public investment from the debt brake rule would help to reverse years of underspending. Unless they do, Europe’s leading economy risks letting a good crisis go to waste.

Persons: –, Hubertus Bardt, Germany’s, Carsten Brzeski, Oliver Rakau, Chancellor Olaf Scholz, Christian Lindner’s, Sebastian Dullien, Scholz, Destatis, Francesco Guerrera, Streisand Neto Organizations: Reuters, World Bank, EU, International Monetary Fund, Reuters Graphics Reuters, German Economic Institute, ING, Oxford Economics, BASF, Finance, Christian Democrats, Thomson Locations: Germany, Berlin, France, Italy, China –, Spain, Weimar Republic, China, Ukraine

☆ South China Sea tensions are flaring between the Philippines and China. Here's why it matters for the world
▼ + stars: | 2023-09-29 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +10 min

Over the past two decades, China has occupied a number of obscure reefs and atolls far from its shoreline across the South China Sea, building up military installations, including runways and ports. Video Ad Feedback Why it matters who owns the seas (April 2021) 03:48 - Source: CNNWhy does the South China Sea matter? The South China Sea is home to hundreds of largely uninhabited islands and coral atolls and diverse wildlife at risk from climate change and marine pollution. The US is not a claimant to the South China Sea, but says the waters are crucial to its national interest of guaranteeing freedom of the seas worldwide. Marcos has strengthened US relations that had frayed under his predecessor, with the two allies touting potential future joint patrols in the South China Sea.

Persons: It’s, China’s, Defense Lindsey Ford, ”, Stringer, Ferdinand “ Bongbong ” Marcos Jr, Jay Batongbacal, “, Marcos Jr, Rodrigo Duterte, Marcos, Gregory Poling Organizations: Hong Kong CNN —, Navy, CNN, US Energy Information Agency, Communist Party, United, US Navy, Defense, Asia, Washington -, Strategic, International Studies, Ford, Spratly Islands, University of the, Philippine Coast Guard, China’s Ministry of Foreign Affairs, Transparency, Philippines Mutual Defense Locations: Hong Kong, South China, China, Beijing, Philippines, United States, South, The Philippines, Malaysia, Vietnam, Brunei, Taiwan, The Hague, Manila, Scarborough, Spratly, People’s Republic of China, Washington, Philippine, University of the Philippines, Asia

☆ Russia's trade with the US plummets to a 3-decade low while its commerce with China surges toward a record $200 billion
▼ + stars: | 2023-09-20 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

Russia's trade with the US has hit a 30-year low amid Western economic sanctions against Moscow. Meanwhile, Russia's trade with China is on track to hit an all-time high of more than $200 billion. The Eurasian nation's trade with the US plunged to a three-decade low in July, while its commerce with China is on track to hit an all-time high of more than $200 billion this year. Russia's trade with China is set to surpass the $200 billion milestone this year, according to the minister of economic development Maxim Reshetnikov, per a local Russian news outlet. However, Russia's oil and gas trade now appears to be making something of a comeback after a year of pain, thanks to a rally in global oil prices.

Persons: Vladimir Putin, Maxim Reshetnikov, Reshetnikov Organizations: Moscow, Moscow . Commerce, Service, United States Census Bureau, Motors, Ford, Mercedes, Benz, RBC Locations: Moscow ., China, Wall, Silicon, Ukraine, Russia, Moscow, Russian

"The move from fossil fuels to renewables is happening – but we are decades behind," Guterres said at the start of the one-day summit. "We must make up time lost to foot-dragging, arm-twisting and the naked greed of entrenched interests raking in billions from fossil fuels." Those not invited to speak were the world's two top polluters - the United States and China – though U.S. Special Envoy on Climate Change John Kerry was in the audience. "This climate crisis is a fossil fuel crisis," he said, drawing applause from the heads of state and others in the room. "Climate change is a top priority for my administration," Thavisin told the gathering, his country having recently created a climate change ministry.

Persons: Antonio Guterres, Mike Segar, Guterres, John Kerry, China's U.N, William Ruto, Ruto, Gavin Newsom, Srettha Thavisin, Thavisin, Sultan Ahmed al, Jaber, COP28, Mia Mottley, Ursula von der Leyen, Pushpa Kamal Dahal, Valerie Volcovici, Katy Daigle, Howard Goller Organizations: United Nations, General Assembly, REUTERS, Companies Allianz, General, United Arab Emirates, Thailand's, FINANCE, Security Council, Allianz, World Bank, International Monetary Fund, Fund, Thomson Locations: New York City, U.S, COP28, Dubai, Brazil, Canada, Pakistan, South Africa, Tuvalu, United States, China, California, UAE, Barbados, Ukraine

☆ Analysis: China may not fear a closer Russia and North Korea like the West
▼ + stars: | 2023-09-15 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +7 min

“China is too important for both North Korea and Russia, so for them it would be foolish to do something behind China’s back that it wouldn’t like,” he said. Shen Hong/Xinhua/Getty ImagesBalance of powerChina, which supported communist North Korea in the Korean War some 70 years ago, has maintained a complicated relationship with its rogue neighbor. “China would support a more capable North Korea in many respects – economically, militarily – and a North Korea that continues to serve as a troublemaker for the US,” said Li. “When you have a more assertive North Korea it will lead to some sort of incentive for the US and South Korea to seek China’s cooperation in terms of dealing with North Korea,” he said. But despite the potential gains, experts also say China is not immune to the risks that can come from a stronger Russia or a stronger North Korea.

Persons: Russia’s Vladimir Putin, Kim Jong, ”, Alexander Korolev, China’s, Putin, Kim, what’s, Li Mingjiang, Xi Jinping, Shen Hong, it’s, Li, ” Yun Sun, Leif, Eric Easley Organizations: Hong Kong CNN, Relations, University of New, North, Vostochny, Foreign Ministry, Singapore’s Nanyang Technological University, “, Korean, Getty, United, US, China Program, Stimson, NATO, Ewha University Locations: China, Hong Kong, Russian, South Korea, Japan, Ukraine, United States, Europe, Moscow, Pyongyang, Russia, North Korea, Beijing, University of New South Wales, Australia, Ukraine –, Xi, Xinhua, United Nations, Korea, Washington, Sun, US, —, “ Beijing, Seoul, “

☆ Australian jobs surge as productivity debate heats up
▼ + stars: | 2023-09-14 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

"Headline indicators report a very strong employment report, but the bias towards predominantly part-time employment should temper exuberance," said Dwyfor Evans, head of APAC macro strategy at State Street Global Markets. Markets maintained bets that the Reserve Bank of Australia (RBA) would keep rates steady next month, with an about 40% chance of one final hike early next year. WAGES, PRODUCTIVITYThe strong figures showed Australia's jobs market is still extremely tight more than and a year-and-a-half after the economy shook off its COVID-era border restrictions. loadingTreasurer Jim Chalmers on Thursday welcomed the strong jobs report, but warned that the labour market could slow from here, a consensus view among economists. Adam Boyton, head of Australian research at ANZ, is already seeing signs of slackening in the labour market, with underemployment rate creeping up and hours worked falling.

Persons: Barista Claudio Chimisso, Loren Elliott, Dwyfor Evans, Tim Gurner, Alexandria Ocasio, Cortez, Jim Chalmers, Chalmers, Adam Boyton, Boyton, Stella Qiu, Kim Coghill, Sam Holmes Organizations: REUTERS, Rights, Australian Bureau, Statistics, Street Global, Reserve Bank, Australian, Reserve Bank of Australia, ANZ, Thomson Locations: Sydney, Australia, China

☆ This green armored train has carried the Kim family for decades
▼ + stars: | 2023-09-12 | by ( Jessie Yeung | ) edition.cnn.com time to read: +7 min

In the background, women in dresses and traditional clothing can be seen cheering and waving the North Korean flag. North Korean leader Kim Jong Un waves before departing Pyongyang for Russia on September 11, 2023. Armored train of luxuryThe train has long been the subject of intrigue, carrying generations of the Kim family across the country and on rare overseas trips. The same train – green with yellow striping – was seen in footage from Russian state media when Kim Jong Il visited Russia in 2002. Information from inside the country slowed to a trickle, even more so in recent years under Kim Jong Un’s rule.

Persons: Kim Jong, Kim, Vladimir Putin, Choe Sun Hui, Chol, Kim Il Sung, Kim Jong Il, Kim Jong Un, Konstantin Pulikovsky, Kim Jong Il’s, Pulikovsky, ” Pulikovsky, Xi Jinping, KCNA, KCNA Kim, Donald Trump, Putin Organizations: CNN, North, KCNA, Central Military Commission, Workers ’ Party, Reuters, Russian, Ministry, New York Times, Times, South, South Korean, Chosun Ilbo, Nuclear, UN Food and Agriculture Organization, North Korean, Yonhap Locations: North Korean, Russia, United States, Russia’s, Pyongyang, Korean, Switzerland, North Korea, Bordeaux, Burgundy, South, Korea, China, Beijing, Vietnam, Hanoi, Vladivostok, South Korean

Hanoi, Vietnam CNN —President Joe Biden will arrive at Chinese leader Xi Jinping’s doorstep on Sunday with a deal in hand to draw yet another one of China’s neighbors closer to the United States. “It’s not going to be easy for Vietnam, because they’re under enormous pressure from China,” the official went on. In Vietnam, it’s not only China whose influence Biden is competing with. On Monday, Biden plans to announce steps to help Vietnam diversify away from an over-reliance on Russian arms, a senior administration official said. “I think that’s a deliberate design by the Biden administration,” said Yun Sun, the China program director at the Stimson Center.

Persons: Joe Biden, Xi Jinping’s, Biden, ”, It’s, playbook, Xi Jinping, Evelyn Hockstein, ” Biden, Modi, Xi, States ’, it’s, ratchets, aggressions, Didier Marti, “ We’re, “, Biden’s, Mao Ning, Vietnam’s, Antony J, Blinken, Trung, Patricia Kim, Le Hoai, Jake Sullivan, Sullivan, ” –, General Secreatary Nguyen, Trong, Yun Sun, ’ Organizations: Vietnam CNN, White House, Korean, Getty, Saturday, Communist Party, Xinhua, China’s, Monday, Communist Party of Vietnam's, Department of State . US Department of State, Biden, Brookings Institution, Communist, NATO, Wing, Stimson Locations: Hanoi, Vietnam, United States, Philippines, China, Beijing, New Delhi, AFP, Asia, States, Russia, Moscow, India, Brazil, South Africa, –, That’s, South China, Washington, South Korea, Helsinki, Japan, Korea, Australia, United Kingdom

☆ 5 takeaways from Joe Biden’s trip to the G20 and Vietnam
▼ + stars: | 2023-09-10 | by ( Kevin Liptak | ) edition.cnn.com time to read: +13 min

New Delhi CNN —President Joe Biden is nearing the end of a whirlwind trip to India and Vietnam for a series of high-profile meetings aimed at countering China’s influence in the developing world. That’s what this trip is all about, having India cooperate much more with United States, be closer to the United States, Vietnam being closer with the United States. “I think we have an enormous opportunity,” he said, adding: “Vietnam and the United States are critical partners at what I would argue is a very critical time. Here are five takeaways from the president’s trip to New Delhi and Hanoi. Biden tries to pull Vietnam closer to USBiden’s trip to Hanoi was his latest attempt to pull another one of China’s neighbors closer to the United States.

Persons: Joe Biden, Biden, ” Biden, “, It’s, Nguyễn Phú, ”, I’m, ” “ I’m, Biden’s, Narendra Modi, Jake Sullivan, ” Sullivan, Oleg Nikolenko, Xi, Vladimir Putin, Xi Jinping, they’re, Kurt Campbell, Modi, – Biden, Campbell, it’s, ratchets, aggressions, Vietnam’s, Karine Jean, Pierre, Jean, Li Qiang, presser Organizations: New, New Delhi CNN, Communist Party of Vietnam, Sunday, Diplomats, Indian, Foreign, Facebook, “, United, United Arab Emirates, World Bank, White, White House, Korean, Communist, Communist Party, Biden, CNN Locations: New Delhi, India, Vietnam, Hanoi, Asia, Beijing, China, United States, Ukraine, ” Russia, Russia, Ukrainian, East, Europe, United Kingdom, Japan, United Arab, Bali, Philippines, South China

“We hope this G20 summit will show that the world’s major economies can work together even in challenging times,” US national security adviser Jake Sullivan said this week. The institutions, created in the aftermath of World War II, have long funded education, public health and infrastructure programs in developing countries. Sullivan said this week the World Bank reforms were “not against China,” noting Beijing is a shareholder in the bank. “The biggest shareholders of the World Bank are all sitting around the G20 table. The contrast between Biden’s presence at the summit – which includes a number of developing countries – and Xi’s absence will also give the American president an opportunity to highlight the US’ commitment to the developing world.

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Opposition candidates, including Gou, blame the DPP for provoking Beijing and stoking tensions, labeling the vote as a choice between war and peace. Meanwhile, the DPP’s candidate, Vice President Lai Ching-te, has framed the election as a choice between democracy and authoritarianism. Lai Ching-te, Taiwan's Vice President and presidential hopeful, meets the foreign press in Taipei on August 25. In addition to securing 290,000 votes before November, Gou also needs to announce his running mate before September 17, as required by Taiwan’s Central Election Commission. “Gou is really having a race against time, and time is really not in his favor,” Sung said.

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