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☆ U.S. and China trade barbs over South China Sea
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +2 min

MANILA, Dec 20 (Reuters) - China's embassy in Manila accused the United States on Tuesday of driving a wedge between the Philippines and Beijing, deploring Washington's "unfounded accusations" that it said sought to stir up trouble in the South China Sea. The South China Sea has become one of many flashpoints in the testy relationship between China and the United States, with Washington rejecting what it calls unlawful territorial claims by Beijing in the resource-rich waters. Price said China's actions "reflect continuing disregard for other South China Sea claimants and states lawfully operating in the region". He reiterated that the United States stands by the Philippines in upholding rules-based international order. China claims vast swathes of the South China Sea that overlap with the exclusive economic zones of Vietnam, Malaysia, Brunei, Indonesia and the Philippines.

☆ When the chips go up: Big banks bet on S. Korea, Taiwan stocks for 2023
▼ + stars: | 2022-12-01 | by ( Harish Sridharan | ) www.reuters.com time to read: +5 min

Goldman Sachs says South Korean stocks are the bank's top "rebound candidate" for 2023 due to low valuations, made cheaper by a nosediving Korean won, and as companies benefit from an expected recovery in Chinese demand. "We think (Korean stocks) sold off too much in September and August." Morgan Stanley downgraded its view on Indian exposure in October, when it upgraded its recommendation for South Korea. Like South Korea, Taiwan (.TWII) is another heavily-sold and chip-maker dominated market - though tensions with China make some investors a bit less enthusiastic. Meanwhile, Taiwan and South Korea are both geopolitical flashpoints - but analysts argue at least some of that is already in the price.

☆ China says it drove away U.S. cruiser near Spratly Islands
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Nov 29 (Reuters) - China's military said on Tuesday it drove away a U.S. guided-missile cruiser that "illegally intruded" into waters near the South China Sea's Spratly Islands. Tian said the U.S. cruiser's intrusion showed that the United States was a "security risk maker" in the South China Sea and "is another iron-clad proof of its hegemony in the navigation and militarization of the South China Sea". China's military said its troops would remain on high alert, the Southern Theatre Command said on its WeChat social media account. China claims nearly all of the South China Sea and it has become one of many flashpoints in the testy relationship between it and the United States. U.S. warships have passed through the South China Sea with increasing frequency in recent years, in a show of force against the Chinese claims.

☆ Protestor with rainbow flag runs onto field at World Cup
▼ + stars: | 2022-11-28 | by ( Associated Press | ) www.nbcnews.com time to read: +1 min

A protestor ran onto the field Monday carrying a rainbow flag and wearing a blue Superman T-shirt that said “SAVE UKRAINE” on the front and “RESPECT FOR IRANIAN WOMAN” on the back during a World Cup match between Portugal and Uruguay. Security officials chased the protestor down and the flag was dropped on the field before the person was escorted away. In the first week of the tournament in Qatar, seven European teams lost the battle to wear multi-colored “One Love” armbands during World Cup matches. Fans also complained they weren’t allowed to bring items with rainbow colors, a symbol of LGBTQ rights, into the stadiums of the conservative Islamic emirate. Qatar’s laws against gay sex and treatment of LGBTQ people were flashpoints in the run-up to the first World Cup to be held in the Middle East.

☆ Nexperia and Elmos cases show how the US-China chip war is spilling over to Europe
▼ + stars: | 2022-11-25 | by ( Michelle Toh | ) edition.cnn.com time to read: +10 min

Last week, the new owner of Britain’s biggest chipmaker was ordered to unwind its takeover, just days after another chip factory sale was blocked in Germany. “These decisions mark a shift towards tougher stances regarding Chinese investment in critical industries in Europe,” said Xiaomeng Lu, director of geo‑technology at Eurasia Group. A worker in a clean room for silicon semiconductor wafer manufacturing at the Newport Wafer Fab, owned by Nexperia, in Newport, Wales on Aug. 18. A company sign of Elmos Semiconductor, seen on Nov. 9 in the German city of Dortmund. Both Britain and Germany have recently added rules that expand government oversight over such decisions, making outcomes harder to predict.

☆ England, Other Teams Drop Plans to Wear Antidiscrimination Armbands at Qatar World Cup
▼ + stars: | 2022-11-21 | by ( Jonathan Clegg | Joshua Robinson | ) www.wsj.com time to read: 1 min

England is set to play its first game in the Qatar World Cup against Iran at Doha’s Khalifa International Stadium. DOHA, Qatar—Hours before their opening games of the 2022 World Cup, England and Wales abandoned plans to wear rainbow armbands after FIFA threatened to sanction players for breaking tournament rules. In one of the early flashpoints of the tournament, FIFA on Sunday notified seven European teams that players would be subject to sporting sanctions, including automatic yellow cards, for wearing the “One Love” armbands, which were designed to send a message against discrimination. The target was widely understood to be anti-homosexuality laws in Qatar.

☆ APEC pledges to boost trade as geopolitical rifts hijack regional summits
▼ + stars: | 2022-11-19 | by ( ) www.cnbc.com time to read: +2 min

The Apec 2022 summit will take place at the Queen Sirikit National Convention Center in Bangkok from November 18-19,2022. At the G20 meeting in Indonesia, members unanimously adopted a declaration that said most members condemned the Ukraine war but also acknowledged some countries saw the conflict differently. The APEC leaders echoed the G20 declaration as they referred to U.N. resolutions that deplore Russia's aggression and demand its complete and unconditional withdrawal from Ukraine, but also noted a variety of opinions. Recognising that APEC is not the forum to resolve security issues, we acknowledge that security issues can have significant consequences for the global economy," the bloc said. Russia is a member of both G20 and APEC but President Vladimir Putin has stayed away from the summits.

[1/4] A passerby looks at a television screen showing a news report about North Korea firing a ballistic missile in Tokyo, Japan November 18, 2022. South Korea's military projected that the missile reached an altitude of 6,100 km and flew 1,000 km at a maximum speed of Mach 22. Friday's launch is the eighth ICBM test this year by North Korea, based on a tally from the U.S. State Department. Concern has also mounted over the possibility of North Korea conducting a nuclear test for the first time since 2017. North Korea on March 24 launched its biggest ICBM ever, which flew 67.5 minutes and reached an altitude of 6,248.5 km (3,905 miles), according to state media.

☆ APEC summit host Thailand urges leaders to put aside differences
▼ + stars: | 2022-11-18 | by ( Juarawee Kittisilpa | ) www.reuters.com time to read: +4 min

[1/3] Thailand's Prime Minister Prayuth Chan-ocha, wife Naraporn Chao-ocha, China's President Xi Jinping and wife Peng Liyuan attend the Gala dinner of the APEC Summit 2022, in Bangkok, Thailand, November 17, 2022. Thailand Government House/Handout via REUTERSBANGKOK, Nov 18 (Reuters) - Thailand, the host of the APEC summit, urged leaders of the group meeting in Bangkok on Friday and Saturday to "rise above differences" and focus on resolving pressing global economic issues in areas such as trade and inflation. China's President Xi Jinping is attending the summit, while the United States is being represented by U.S. Vice President Kamala Harris. Security was tight at the APEC summit with around 100 anti-government protesters gathered and planning to march on the meeting venue on Friday morning. First Deputy Prime Minister Andrei Belousov will represent him at APEC.

The blasts at the Nord Stream pipeline in September were caused by an act of sabotage, Swedish prosecutors said Friday after evidence of explosives was discovered at the sites by investigators. In a statement, Mats Ljungqvist, the prosecutor leading the preliminary investigation, described the incident as “gross sabotage,” adding that “traces of explosives” were found at the scene. The preliminary investigation will continue and has yet to determine any charges, the statement said. Denmark last month said a preliminary investigation had shown they were caused by powerful explosions. Nord Stream pipelines 1 and 2 were created to funnel gas from Russia into the European Union, and were controversial long before Russia waged war on Ukraine.

☆ Factbox: What is APEC and which leaders are attending Bangkok summit?
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +5 min

[1/5] A general view outside of the Queen Sirikit National Convention Center venue during the Asia-Pacific Economic Cooperation (APEC) summit, at Asoke Junction, in Bangkok, Thailand November 17, 2022. The United States will be the APEC host in 2023. CHINA PRESIDENT XI JINPINGXi met Japanese Prime Minister Fumio Kishida in Bangkok on Thursday for talks. RUSSIA FIRST DEPUTY PRIME MINISTER ANDREI BELOUSOVBelousov will represent President Valadmir Putin at APEC. PAPUA NEW GUINEA PRIME MINISTER JAMES MARAPEMarape will hold meetings with U.S. State Secretary Antony Blinken.

SEOUL/TOKYO, Nov 18 (Reuters) - North Korea fired a suspected intercontinental ballistic missile on Friday that landed just 200 kilometres (130 miles) off Japan and had sufficient range to reach the mainland of the United States, Japanese officials told reporters. Friday's launch would be the eighth ICBM test this year by North Korea, based on a tally from the U.S. State Department. A South Korean official said the Nov. 3 test may have failed at high altitude. South Korean and U.S. officials have reported that a number of North Korean ICBM tests appeared to have failed this year. The North has also fired hundreds of artillery shells into the sea recently as South Korea and the United States staged exercises, some of which involved Japan.

China's Taiwan Affairs Office did not respond to a request for comment. the person said, adding that the calls would connect but Chinese officials wouldn't pick up. Based on a long-standing practice, faxes continue to be exchanged between two semi-official organisations that handle routine affairs: Taiwan's Straits Exchange Foundation and China's Association for Relations Across the Taiwan Straits. The council told Reuters that while Chinese officials do not reply directly, they have handled Taiwanese requests when needed or responded through public statements. China this year labeled Tsai's administration "evil" while Taiwan called China "incredibly absurd".

REUTERS/Octavio JonesNEW YORK, Nov 16 (Reuters) - Former President Donald Trump's entry on Tuesday into the 2024 presidential race confirmed the world's "worst kept secret" and created another variable for markets that some investors say remains a low priority for now. Trump's announcement, meanwhile, came as little surprise to investors, as the former president had telegraphed the possibility he might run again for some time. DIVIDED WE HURTUnlike during Trump's previous bid, the discord within the Republican party also worried some investors. The Republican president has claimed credit for the rise, tweeting often about Wall Street's performance. Both stocks rallied earlier this month on reports Trump was considering a third bid for the White House.

☆ Trump's 2024 presidential bid is a wrinkle du jour for markets
▼ + stars: | 2022-11-16 | by ( David Randall | ) www.reuters.com time to read: +3 min

REUTERS/Octavio JonesNEW YORK, Nov 15 (Reuters) - Former President Donald Trump's entry on Tuesday into the 2024 presidential race confirmed the world's "worst kept secret" and created another variable for markets that some investors say remains a low priority for now. Trump, who has mounted relentless attacks on the integrity of U.S. voting since his 2020 election defeat, announced his bid at his Mar-a-Lago estate in Florida, seemingly with the aim of pre-empting potential Republican rivals. Trump's announcement, meanwhile, came as little surprise to investors, as the former president had telegraphed the possibility he might run again for some time. Shares of Digital World Acquisition Corp (DWAC.O), the blank-check company looking to take Donald Trump's social media venture public, fell 8.8% on Tuesday, while software developer Phunware Inc (PHUN.O), which was hired by Trump's 2020 re-election campaign to build a phone app, slid 4.7%. Both stocks rallied earlier this month on reports Trump was considering a third bid for the White House.

☆ Biden meets Xi amid heightened China-U.S. tensions
▼ + stars: | 2022-11-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: 1 min

U.S. President Joe Biden and Chinese President Xi Jinping held a virtual meeting in November 2021. Pictured here is a state news broadcast of the meeting outside a shopping mall in Beijing. BEIJING — U.S. President Joe Biden and Chinese President Xi Jinping met Monday for the first time in person since Biden took office in Jan. 2021. The meeting took place in Bali, a day before the G-20 Summit is due to kick off. The two leaders held a videoconference in Nov. 2021 and, among other communication, had a call in late July.

☆ Biden to make clear U.S. does not seek conflict with China - White House official
▼ + stars: | 2022-11-13 | by ( ) www.reuters.com time to read: +2 min

ABOARD AIR FORCE ONE, Nov 13 (Reuters) - United States President Joe Biden will make clear in his bilateral meeting with Chinese counterpart Xi Jinping in Indonesia that his country seeks no conflict, a White House official said on Sunday. Jake Sullivan, a national security adviser to Biden, said the meeting could last "a couple of hours". "The president sees the United States and China as being engaged in a stiff competition, but that competition should not tip over into conflict or confrontation," Sullivan told reporters. Sullivan said Biden would be "totally straightforward and direct" in his conversation with Xi, continuing an approach he has pursued from the beginning of his presidency. White House press secretary Karine Jean-Pierre said Biden would speak with reporters after his meeting with Xi, but declined to say if he would hold a full news conference.

☆ Some LGBTQ fans skip Qatar World Cup, fearing hostility
▼ + stars: | 2022-11-09 | by ( Associated Press | ) www.nbcnews.com time to read: +8 min

Instead, Niño de Rivera proposed at an Amsterdam stadium this summer and opted to skip the World Cup altogether. “It was a really hard decision.”Niño de Rivera’s concerns are shared by many LGBTQ soccer fans and their allies worldwide. An ambassador for the World Cup in Qatar, however, has described homosexuality as a “damage in the mind” in an interview with German public broadcaster ZDF. He publicly came out and has been lobbying to expand the conversation before the World Cup. “The World Cup can help change misconceptions, and we want fans to travel home with a better understanding of our country, culture and region.

“We are seeing more litigation in 2022 relating to elections and election administration and the like than we have ever seen before,” Elias said. Consovoy McCarthy, a 20-lawyer Washington law firm that represented Trump in lawsuits over congressional subpoenas, is playing an especially active role on the Republican side. The lawyers' real test may come after election day, when close or contested results are likely to spark fresh lawsuits, attorneys said. Whatever shape those cases take, "you have to be ready,” said Adam Bonin, an election lawyer who has represented Democrats in Pennsylvania. Opinion polls show Republicans are set to win back control of the House of Representatives and perhaps also the Senate at the midterm elections.

☆ Analysis: Top central bankers fear breaking economy if they raise rates too fast
▼ + stars: | 2022-10-28 | by ( Francesco Canepa | ) www.reuters.com time to read: +4 min

STUBBORNLY HIGHBut stubbornly high inflation is making central bankers' job incredibly tricky. While there is nothing central bankers can do about present inflation rates, the mere optics of runaway prices made a "pivot" more difficult to justify. This requires an extraordinary balancing act by central bankers: persuading the market that they are serious about bringing down inflation without choking the economy. "The Fed needs to open a path towards smaller interest rate hikes without sounding too dovish," Christian Scherrmann, U.S. economist at DWS, said. The change of tone was minimal but it was enough for investors to start pricing in smaller hikes further down the road.

But the theme of the event is continuity — of President Xi Jinping as leader, and with that the likelihood of friction with the U.S.-led West. Xi, China’s most powerful leader in decades, is poised to secure an unprecedented third term at this week’s twice-a-decade National Congress of the Chinese Communist Party in Beijing. “Those achievements have certainly strengthened the president’s leadership.”Under Xi, China’s gross domestic product has more than doubled to $17.7 trillion. Born in Beijing in 1953, Xi enjoyed a privileged youth as the second son of Xi Zhongxun, a Chinese communist revolutionary. “The long-term goals of President Xi, as well as general attitudes in the West, will make it very difficult for us to have more cooperation during his third term,” she said.

☆ Factbox: From property to bonds, four financial flashpoints for the euro zone
▼ + stars: | 2022-10-12 | by ( Francesco Canepa | ) www.reuters.com time to read: +6 min

Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/IllustrationFRANKFURT, Oct 12 (Reuters) - While a financial storm gathers nearby, the euro zone has so far been comparatively unscathed. Register now for FREE unlimited access to Reuters.com RegisterHere's a look at four possible flashpoints that are keeping investors and regulators awake at night: property prices, bank loans, government bonds and "shadow banks". REAL TROUBLEThe euro zone enjoyed a real-estate boom until last year, with home prices rising by some 40% since 2015 and commercial real estate prices up 26%. gross debt-to-income ratio for selected euro zone countriesSPREAD TOO THINThe rise in interest rates has raised fresh questions about one of the world's most indebted borrowers: Italy.

☆ BoE drawn into risky game of financial whac-a-mole
▼ + stars: | 2022-10-11 | by ( Neil Unmack | ) www.reuters.com time to read: +5 min

On Tuesday, the UK central bank said it would buy more bonds to avert a fire sale by pension funds. But its plan to end such support on Friday is hampered by a distressed bond market, and wayward government. Prime Minister Liz Truss’s unfunded plan to cut taxes had triggered a surge in government bond yields, which in turn forced indebted pension funds to sell assets. Register now for FREE unlimited access to Reuters.com RegisterThere are plenty of signs that the bond market remains distressed. Without a credible fiscal strategy, investors may continue to steer clear of UK gilts.

The debt ceiling is going to be an important tool," Carter told Reuters. "I try not to think about it," he said referring to a possible debt limit battle. 'EXTENDED DEBATE'Debate about the debt ceiling could flare again early next year, after the new Congress is sworn in. "There is likely to be an extended debate" on the debt limit next year no matter who wins the midterms, said Akabas, who has seen several such battles waged. McConnell avoided answering a question about the 2023 debt limit debate, saying: "We haven't even finished 2022 yet."

☆ IEA Birol: "very obvious" who was behind the Nord Stream sabotage
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +1 min

Companies Nord Stream AG FollowPARIS, Sept 29 (Reuters) - Fatih Birol, head of the International Energy Agency (IEA), said on Thursday it was "very obvious" who was behind the suspected sabotage against the Nord Stream pipelines which caused major leaks into the Baltic Sea. "It is not yet known who made it, who is behind this sabotage, there is still discussion more or less but (...) it is very obvious (...) who was behind this issue," he told a conference on renewable energies in Paris. The Nord Stream pipelines have been flashpoints in an escalating energy war between capitals in Europe and Moscow that has damaged major Western economies and sent gas prices soaring. Register now for FREE unlimited access to Reuters.com RegisterReporting by Bertrand Boucey; Writing by Bennoit Van Overstraeten; Editing by Dominique VidalonOur Standards: The Thomson Reuters Trust Principles.

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