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BEIJING,/JOHANNESBURG Aug 24 (Reuters) - BRICS nations should strengthen cooperation on cross-border payment, a Chinese foreign ministry official said on Thursday, the final day of a three-day BRICS summit in South Africa. They should also study local currency cooperation payment tools and platforms, and promote local currency settlement, said Li Kexin, Director-General of the Department of International Economic Affairs of the Foreign Ministry of China. The leaders of BRICS - Brazil, Russia, India, China and South Africa - agreed at the summit in Johannesburg to encourage more local currency usage in trade and financial transactions, as they seek to shift away from dependence on the U.S. dollar. "So it's important to have a more sophisticated payment system... Many of Russia's top banks were cut off from the SWIFT messaging system last year under sweeping Western sanctions following Moscow's invasion of Ukraine.
Persons: Li Kexin, Sergei Lavrov, Vladimir Putin, Li, SWIFT, Rachel Savage, Marc Jones, William Maclean, Emelia Organizations: Department of International Economic Affairs, Foreign Ministry of China, U.S ., Beijing, Thomson Locations: BEIJING, JOHANNESBURG, South Africa, BRICS, Brazil, Russia, India, China, Johannesburg, Russians, Ukraine, London
[1/4] An aerial view shows the storage tanks for treated water at the tsunami-crippled Fukushima Daiichi nuclear power plant in Okuma town, Fukushima prefecture, Japan August 22, 2023, in this photo taken by Kyodo. Japan has maintained that the water release is safe. "Being told something is scientifically safe and feeling reassured are two different things... Proof that the water release is scientifically safe may not remove reputational damage," he said. The water will initially be released in smaller portions and with extra checks, with the first discharge totalling 7,800 cubic metres over about 17 days, Fukushima power plant operator Tepco (9501.T) said on Tuesday.
Persons: Wang Wenbin, Japan's, Yoon Suk, John Lee, Masanobu Sakamoto, Sakura Murakami, Raju Gopalakrishnan Organizations: Kyodo, REUTERS, Rights Companies Tokyo Electric Power Company Holdings, International Atomic Energy Agency, IAEA, Hong, National Federation of Fisheries Cooperative, World Health, Tepco, Thomson Locations: Okuma, Fukushima prefecture, Japan, China, Hong Kong, Macau, Tokyo, Fukushima
Aug 19 (Reuters) - Foreign Minister Sergei Lavrov said that possession of nuclear weapons protects Russia from security threats and Moscow keeps reminding the West of risks to prevent a conflict of nuclear powers. "The possession of nuclear arms is today the only possible response to some of significant external threats to security of our country," Lavrov said in an interview for state-owned magazine The International Affairs, published early on Saturday on the foreign ministry website. Last month, former Russian President Dmitry Medvedev said Moscow would have to use a nuclear weapon if Ukraine's counteroffensive against Russian troops was a success. Lavrov said that the United States and NATO allies risk ending up in "a situation of direct armed confrontation of nuclear powers". U.S. President Joe Biden has called a threat of Russia using tactical nuclear weapons "real" while NATO chief Jens Stoltenberg said this week that the military alliance has not detected any changes to Russia's nuclear forces.
Persons: Sergei Lavrov, Lavrov, Dmitry Medvedev, Joe Biden, Jens Stoltenberg, Maria Tsvetkova, Diane Craft, Grant McCool Organizations: International Affairs, NATO, Thomson Locations: Russia, Moscow, Ukraine, United States, New York
Britain warns of possible attacks in Denmark
  + stars: | 2023-08-18 | by ( ) www.reuters.com   time to read: +1 min
REUTERS/Tom Little/File Photo Acquire Licensing RightsAug 18 (Reuters) - Britain on Friday asked its citizens to be vigilant when travelling to Denmark due to possible attacks, following Koran burnings by anti-Islam activists in Denmark and Sweden that have outraged Muslims. Britain and the U.S. government have previously warned of possible attacks in neighbouring Sweden, which raised its terrorism alert to the second highest level on Thursday. "Terrorists are likely to try to carry out attacks in Denmark. Attacks could be indiscriminate, including in places frequented by foreigners," the British foreign ministry warned in an updated travel advice. The authorities in Denmark have successfully disrupted a number of planned attacks and made a number of arrests, it added.
Persons: Tom Little, Sweden's, Nerijus Adomaitis, Frances Kerry Organizations: REUTERS, U.S, Thomson Locations: Danish, Copenhagen, Denmark, Britain, Sweden, Oslo
Plastic letters arranged to read "Sanctions" are placed in front the flag colors of Canada and Russia in this illustration taken February 28, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsOTTAWA, Aug 18 (Reuters) - Canada is imposing sanctions on 15 Russian individuals and three entities in what Ottawa said was a response to rising levels of human rights violations and violence faced by political opponents and critics in Russia, the foreign ministry said on Friday. The sanctioned individuals and entities are senior officials of the Russian government, judiciary and investigative committee, as well as federally funded courts, the ministry said in a statement. Reporting by David Ljunggren and Ismail Shakil in OttawaOur Standards: The Thomson Reuters Trust Principles.
Persons: Dado Ruvic, David Ljunggren, Ismail Shakil Organizations: REUTERS, Rights OTTAWA, Thomson Locations: Canada, Russia, Ottawa
Analysts said the U.S. was making such moves with an eye on rising tensions over Taiwan, given that the potential fallout from a conflict between China and Taiwan would be "unimaginable." Yurchenko, who spoke to CNBC ahead of the Wednesday announcement, dubbed the scale of the risks regarding Taiwan as "unimaginable." Beijing, meanwhile, has called for "reunification" with Taiwan, last year describing its status in a white paper as an "unalterable" part of China. watch nowElina Ribakova, senior fellow at the Peterson Institute for International Economics, said that China was watching the West's approach to Russia closely. Western sanctions against Moscow keep coming, almost 1½ years after Russian forces crossed Ukraine's borders.
Persons: Drew Angerer, Joe Biden, Olena, it's, Olena Yurchenko, Yurchenko, Kyle Bass, Xi Jinping, Biden, Ukraine's Yurchenko, they've, Elina Ribakova, Ribakova, Daniel Ferrie, I'm Organizations: Getty, Wednesday, Foreign Ministry, Economic Security, of, of Ukraine, CNBC, Peterson Institute for International Economics, Moscow, Ukraine, European, European Union, Hayman Capital Locations: China, disassociation, Beijing, U.S, Russia, Taiwan, United States, Washington, of Ukraine, India, Taiwan Strait, Ukraine, Ukraine's, Moscow
China repeats call for Philippines to remove grounded warship
  + stars: | 2023-08-08 | by ( ) www.reuters.com   time to read: +3 min
The dispute over the Second Thomas Shoal in South China Sea came after Manila accused China's coast guard of "excessive and offensive actions" against Philippines vessels. "China once again urges the Philippine side to immediately remove the warship from Second Thomas Shoal and restore it to its unoccupied state," China's foreign ministry said in a statement. Tensions have soared between the two countries over the South China Sea under Philippine President Ferdinand Marcos Jr, with Manila pivoting back to the United States, which supports Manila in its maritime disputes with China. Echoing the foreign ministry, the Chinese ambassador to the Philippines said on Tuesday China had no choice but to respond. China claims sovereignty over almost the entire South China Sea, which overlaps with the waters of Malaysia, Vietnam, Brunei, Taiwan and the Philippines.
Persons: Thomas Shoal, Thomas, Jonathan Malaya, Ferdinand Marcos Jr, Huang Xilian, Ella Cao, Liz Lee, Karen Lema, Jacqueline Wong, Gerry Doyle Organizations: China Coast Guard, Philippine Coast Guard, Philippine, REUTERS, National Security Council, South China, China, Thomson Locations: South, BEIJING, MANILA, Philippines, Manila, Beijing, South China, China's, China, Philippine, Ayungin, United States, Malaysia, Vietnam, Brunei, Taiwan
BEIJING, Aug 6 (Reuters) - China's decision to join international talks in Saudi Arabia this weekend seeking to end Russia's war in Ukraine signals possible shifts in Beijing's approach but not a U-turn in its support for Moscow, analysts say. "Beijing will not want to be absent from other credible peace initiatives that are led by non-Western countries." China did not attend the talks in Copenhagen in late June, despite being invited and having proposed its own 12-point plan for peace. Ukrainian Foreign Minister Dmytro Kuleba called Li's involvement a "considerable breakthrough", according to Ukrainian media. While China's move was good for its image, Singapore-based analyst Li Mingjiang said Beijing would be looking to fine-tune its positions.
Persons: Yun Sun, Li Hui, Xi Jinping, Qin, Vladimir Putin, Dmytro Kuleba, Shen Dingli, Shen, China's, Li Mingjiang, Li, Geng Shuang, Moritz Rudolf, Yale Law School's Paul Tsai, Laurie Chen, Martin Quin Pollard, Greg Torode, William Mallard Organizations: NATO, Stimson, Qin Gang, People's Liberation Army Rocket Force, U.S, Ukrainian, Rajaratnam, of International Studies, United Nations, Security, Yale Law, Yale Law School's Paul Tsai China Center, Thomson Locations: BEIJING, Saudi Arabia, Ukraine, Moscow, Beijing, Denmark, Russia, China, Washington, Jeddah, Copenhagen, Shanghai, Singapore
Japanese vice minister quits as PM Kishida's ratings slide
  + stars: | 2023-08-04 | by ( ) www.reuters.com   time to read: +2 min
Tokyo prosecutors raided the office of ruling Liberal Democratic Party lawmaker Masatoshi Akimoto on suspicion that he took bribes amounting to tens of millions of yen, according to public broadcaster NHK. The foreign ministry later announced that Akimoto had stepped down from his post as a vice minister. The resignation comes after Kishida's approval rating slid to its lowest since he took office in 2021. Errors that have recently come to light with the card have included health insurance information linked to the wrong social security account and welfare payments made to the wrong person. State broadcaster NHK and other media have reported that Tokyo prosecutors suspect Japan Wind Development Co paid bribes to Akimoto.
Persons: Masatoshi Akimoto, Amit Dave, Fumio Kishida, Akimoto, Hirokazu Matsuno, Sakura Murakami, Robert Birsel Organizations: Land, Transport, Speed, Kalupur, REUTERS, Liberal Democratic Party, NHK, Yomiuri, State, Development, Reuters, Thomson Locations: Infrastructure, Tourism, Ahmedabad, Mumbai Ahmedabad, India, TOKYO, Tokyo, The Tokyo
India's Prime Minister Narendra Modi speaks during a meeting at The Ministry of Foreign Affairs in Paris France July 14, 2023. JULIEN DE ROSA/Pool via REUTERS/File PhotoNEW DELHI, Aug 2 (Reuters) - Indian Prime Minister Narendra Modi is likely to be a virtual participant at a summit of BRICS nations in South Africa later this month rather than attend in person, sources in New Delhi told Reuters. China and Russia are keen to discuss expansion of BRICS at the summit, while India has reservations about that idea. The SCO summit was held days after Modi returned from a state visit to Washington where President Joe Biden rolled out the red carpet for him. India holds the presidency of the G20 grouping and will host a summit of its leaders in early September.
Persons: Narendra Modi, JULIEN DE ROSA, Modi, Vladimir Putin, Joe Biden, Rupam Jain, Krishn Kaushik, YP Rajesh, Simon Cameron, Moore Organizations: India's, The Ministry of Foreign Affairs, Indian, Reuters, Shanghai Cooperation Organisation, SCO, YP, Thomson Locations: Paris France, South Africa, New Delhi, Johannesburg, Brazil, Russia, India, China, Russian, BRICS, United States, Beijing, Washington, Ukraine, Moscow
REUTERS/Alaa Al SukhniLONDON, Aug 3 (Reuters) - Britain on Thursday said it had agreed deals with Zambia on clean energy and critical minerals as foreign minister James Cleverly ends a four-day visit to Africa to deepen ties. "The UK-Zambia Green Growth Compact and our landmark agreement on critical minerals will support investment between UK and Zambian business, creating jobs in both countries," Cleverly said. Zambia is a major copper producer, and also has deposits of critical minerals such as cobalt, manganese and nickel. Last year Britain emphasised the importance of diversifying its supply chains in a critical mineral strategy. Britain has agreed to deepen collaboration on critical minerals with other countries such as the United States, Japan, Australia, Kazakhstan and Saudi Arabia.
Persons: James, Ayman Safadi, Sukhni, Alistair Smout, William James Our Organizations: British, Jordan's, REUTERS, Sukhni LONDON, Thomson Locations: Amman, Jordan, Britain, Zambia, Africa, Niger, Zambian, United States, Japan, Australia, Kazakhstan, Saudi Arabia
PARIS, Aug 1 (Reuters) - France will evacuate French and European citizens from Niger, starting on Tuesday, its foreign ministry said, days after a junta seized power in the west African country. On Sunday, supporters of the junta burned French flags and attacked the French embassy in Niger's capital, Niamey, prompting police to fire volleys of tear gas in response. According to the French foreign ministry website, there were just under 1,200 French nationals in Niger in 2022. Niger is the world's seventh-biggest producer of uranium, the radioactive metal widely used for nuclear energy and treating cancer. But the juntas of neighbouring Burkina Faso, Mali and Guinea all voiced their support for the coup's leaders on Monday.
Persons: Mohamed Bazoum, Catherine Colonna, BFM, Yevgeny Prigozhin, Russia's Wagner, Bazoum, Michel Rose, Sudip Kar, Layli, Blandine Henault, Charlotte van Campenhout, Ingrid Melander, Christina Fincher, Alex Richardson Organizations: French, Regional, ECOWAS, Thomson Locations: France, Niger, West, Central Africa, Russia, Niger's, Niamey, Russian, Sahel, Burkina Faso, Mali, Guinea
BEIJING, Aug 1 (Reuters) - Hours after China's top legislature convened a special meeting last week to remove foreign minister Qin Gang, photos and mentions of the 57-year-old started disappearing from his former ministry's website. China named veteran diplomat Wang Yi to replace Qin, but gave few further clues on the reason for the change. Foreign ministry spokeswoman Mao Ning on Thursday said Beijing will release information in a timely matter regarding Qin and opposes "malicious hype". The foreign ministry removed all online traces to its former chief protocol officer Zhang Kunsheng who was found guilty of corruption and using his position of power to obtain sex in 2016. He then made a triple jump from director of protocol to U.S. ambassador and then to foreign minister and state councillor in five years, bullet-train speed by China standards.
Persons: Qin Gang, Qin, Gang, Xi Jinping, Wang Yi, Mao Ning, Ian Johnson, Wu Qiang, Wu, Xiao Yaqing, Zhang Kunsheng, Mao Zedong, Mao, Xi, Xi's, Alfred Wu, Lee Kwan, Yew Lun Tian, John Geddie Organizations: Foreign Ministry, State, Information Office, Council, Foreign Relations, Industry, Committee, Communist, Xinhua, Lee Kwan Yew, of Public Policy, Thomson Locations: BEIJING, China, Beijing, Washington, Singapore, Lincoln
U.S. officials greet Qin Gang, then China's foreign minister, ahead of a meeting with U.S. Secretary of State Antony Blinken (not pictured) in Beijing on June 18, 2023. Leah Millis | Afp | Getty ImagesBEIJING — The flurry over Qin Gang's disappearance and removal from the position of foreign minister has little impact on U.S.-China relations, analysts said. China officially announced his dismissal from the foreign minister role on Tuesday. China's foreign ministry has declined to shared why Qin had to leave his position. watch nowWhile Wang's return to the foreign minister role is unusual, his promotion to top diplomat had also come contrary to expectations of retirement.
Persons: Qin Gang, Antony Blinken, Leah Millis, Qin Gang's, Qin, China's, Wang Yi, Xi Jinping, Nick Marro, Xi, Wang, Jeremy Chan, Anna Ashton, Biden Organizations: U.S, Afp, Getty, Communist Party, Economist Intelligence Unit, Eurasia Group Locations: Beijing, BEIJING, China, Eurasia, Northeast Asia, U.S
PARIS, July 28 (Reuters) - France's foreign minister said on Friday that a power grab in Niger was not definitive and that those responsible still had time to accede to international demands that the ousted president be reinstated. "If you hear me say attempted coup d'etat, it's because we don't consider that things are definitive," Colonna was quoted by French media as saying. Niger President Mohamed Bazoum is being held in the presidential palace and it remains unclear who is in charge of the country after soldiers on Wednesday evening declared a coup that sparked widespread condemnation. In a statement signed by its chief of staff, the army on Thursday declared support for the soldiers who stripped President Mohamed Bazoum of power. "President Bazoum must be restored to his constitutional functions," Colonna said.
Persons: Emmanuel Macron, Catherine Colonna, Colonna, Mohamed Bazoum, Macron, Bazoum, John Irish, John Stonestreet Organizations: West African ECOWAS, Wednesday, Thomson Locations: Niger, Papua New Guinea
CNN —Russia said it shot down a Ukrainian missile over the southern Russian city of Taganrog and that fragments from the blast injured several civilians. Vasily Golubev also said on Friday in a Telegram post that there was a rocket explosion in the middle of the city. The Russian Ministry of Health later said 14 people had been injured. Russian air defense systems intercepted the missile, fragments of which fell on the city and damaged buildings, the defense ministry said. There were no victims or severe damage reported at the site, Khinshtein said.
Persons: It’s, Ukraine —, Vasily Golubev, , Maria Zakharova, , ” Zakharova, Alexander Khinshtein, Khinshtein Organizations: CNN, Russian Ministry of Defense, Regional Gov, Russian Ministry of Health, Russian Foreign Ministry, Foreign Ministry, Duma Locations: Russia, Ukrainian, Russian, Taganrog, Ukraine, Rostov Region, Rostov, Moscow, Kiev, Samara
China’s abrupt removal of Qin Gang as foreign minister did not stop the questions that had dogged Chinese officials in the month since he vanished from public view: Where is Mr. Qin? Representatives of the Foreign Ministry have struggled to respond when pressed by reporters, repeatedly saying that they had no information to provide. After China replaced him on Tuesday, nearly all references to Mr. Qin were scrubbed from the ministry’s website, an unusual erasure that has only deepened the intrigue. Mr. Xi, China’s most powerful leader since Mao Zedong, has concentrated power under himself and enforced secrecy in an already highly opaque system, no matter the cost to China’s international image. Mr. Xi has diminished the sway of the Foreign Ministry, analysts say, as he’s pursued an increasingly assertive, and some say risky, foreign policy.
Persons: Qin, Qin’s, Xi Jinping, Xi, Mao Zedong, he’s Organizations: Qin Gang, Foreign Ministry Locations: China
Eurasia Group's Jeremy Chan told Insider that "so much remains unknown about Qin's case." As of press time, references to Qin had been removed from the foreign ministry's website. China's foreign ministry did not immediately respond to a request for comment from Insider. Because of the opacity of the Chinese government, few people will ever know what led to Qin's abrupt departure, experts say. Chong Ja Ian, an associate professor at the National University of Singapore, told Insider that the lack of clarity "is part of the opacity and uncertainty" in China.
Persons: Qin Gang, Jeremy Chan, Qin, Wang Yi, Wang, Chong Ja Ian, Chong, Dylan Loh, Loh, Wang Wenbin, Wang's, Fu Xiaotian, Fu Organizations: Eurasia, Service, Qin, Eurasia Group, National University of Singapore, Nanyang Technological University, Twitter Locations: Wall, Silicon, China's, China, Beijing, Russia, Vietnam, Sri Lanka, Indonesia, Chinese, South China
Hong Kong CNN —Five weeks ago, the world watched as China’s Foreign Minister Qin Gang met US Secretary of State Antony Blinken in Beijing for high stakes talks between the two powers. Qin’s whereabouts, the reason for his removal, and his ultimate fate as a member of China’s Communist Party all remain unknown. Unanswered questions about official decision-making are standard in China, where the political system is notoriously opaque and has only become more so under Chinese leader Xi Jinping. But it also suggests that the cause must be grave for (Qin) to be removed,” she added. ‘Safe hands’The Foreign Ministry shake-up comes at a particularly sensitive time in China’s international relations.
Persons: Qin Gang, Antony Blinken, , Qin, Wang Yi, Wang, Xi Jinping ., they’ve, Xi, , Yun Sun, , Neil Thomas, Bonnie Glaser, Marshall Fund’s, hashtags, Li Mingjiang, Blinken, “ I’ve, I’ve, ” Blinken, , ” Wang, China’s, Vladimir Putin, Asia Society’s Thomas, Victor Shih Organizations: Hong Kong CNN —, China’s Foreign Ministry, China’s Communist Party, Xi Jinping . Senior, China Program, Communist Party, Politics, Asia Society, Center for, Foreign, Weibo, Singapore’s Nanyang Technological University, University of California San, Century China Center Locations: Hong Kong, Beijing, China, Washington, Center for China, United States, Europe, Russia, Ukraine, Jakarta, Moscow, Asia, University of California San Diego’s
China's Qin Gang had meteoric rise and swift removal
  + stars: | 2023-07-25 | by ( ) www.reuters.com   time to read: +4 min
Born in the northern city of Tianjin in 1966, Qin studied International Politics at one of China's most prestigious schools for aspiring diplomats, the University of International Relations in Beijing. After graduating, Qin entered the diplomatic service, working in several jobs at the foreign ministry as well as postings at the Chinese Embassy in Britain. Qin was twice foreign ministry spokesman, between 2006 and 2014, and chief protocol officer between 2014 and 2018, overseeing many of Xi's interactions with foreign leaders. After becoming foreign minister, Qin's comments on hot button issues such as Taiwan and China's relations with Russia did not diverge in any significant way from those of his predecessor. In his first comments as foreign minister, Qin said in solving challenges common to all mankind, China's diplomacy would offer "Chinese wisdom, Chinese initiatives and Chinese strength".
Persons: Qin Gang, Xi Jinping, Xi, Wang Yi, Qin, Britain . Qin, Antony Blinken, Wang, Yew Lun Tian, Martin Quin Pollard, Rob Birsel, Nick Macfie Organizations: Foreign, University of International Relations, Embassy, Washington, U.S, Chinese Communist Party, Thomson Locations: Tianjin, Beijing, Britain ., United States, Washington, Taiwan, Sri Lanka, Russia, Vietnam, Indonesia, Africa, Europe, Ukraine, China, American, U.S
The planned recipient of the colorful batik top was Chinese foreign minister Qin Gang, who has not been seen in nearly a month and is set to miss at least one other important meeting, in South Africa, next week. It is not clear whether even then Borrell would meet Qin as initially planned, the official said. The former aide to President Xi Jinping was appointed foreign minister in December after serving less than two years as ambassador to the United States. Qin's absence has also been widely discussed in the diplomatic community, with some saying it is another example of China's lack of transparency. Some diplomats have even started to speculate on who may replace Qin, with three telling Reuters the ranking vice foreign minister, Ma Zhaoxu could be a candidate.
Persons: Qin Gang, Qin, Yun Sun, Mao Ning, Wang Yi, Josep Borrell, Wen, Xi Jinping, Antony Blinken, Ma Zhaoxu, Ma, Wang, Xie Feng, Xie, Laurie Chen, Martin Quin Pollard, Yew, Tian, Kate Lamb, Gabriela Baczynska, Andrew MacAskill, John Geddie, Robert Birsel Organizations: China Program, Stimson, Reuters, EU, Australian National University, Qin, Baidu, London School of Economics, United, Aspen Security Conference, Thomson Locations: BEIJING, JAKARTA, China, Indonesia, Jakarta, South Africa, Washington, Johannesburg, Britain, United States, Beijing, Sri Lankan, United Nations, Brussels, London
After China’s leader, Xi Jinping, catapulted Qin Gang into the post of foreign minister in December, Mr. Qin set a frantic pace, meeting dozens of foreign officials as he pressed Beijing’s agenda in a divided, war-stricken world. Then Mr. Qin went silent. He was recently scheduled to meet the foreign policy chief of the European Union in Beijing, but China canceled that visit. Outside China, Mr. Qin’s lengthy absence has set off speculation on the internet about his health and status. Abrupt disappearances of senior Chinese officials from public life are often seen as potential signs of trouble.
Persons: Xi Jinping, Qin Organizations: European Union Locations: Vietnam, Russia, Sri Lanka, Beijing, China, Jakarta, Indonesia
Armenia says the proposed peace treaty should provide special rights for them and guarantee their security. As a matter of priority, violence and harsh rhetoric should stop in order to provide the proper environment for peace and normalisation talks," Michel said. He told reporters: "The population on the ground needs reassurances, first and foremost regarding their rights and security." Besides the EU, the United States has also been pushing the sides to reach a peace deal. This could be followed up with a Moscow summit to sign a peace treaty, the Foreign Ministry said in a statement.
Persons: Charles Michel, Ilham Aliyev, Nikol Pashinyan, Jeyhun Bayramov, normalisation, Michel, Aliyev, Pashinyan, Nailia Bagirova, Philip Blenkinsop, Mark Trevelyan, Frances Kerry Organizations: European Union, EU, Armenian, Azberbaijani, Reuters, Foreign Ministry, Thomson Locations: BRUSSELS, Azerbaijan, Armenia, Russia, Brussels, Soviet Union, Nagorno, Karabakh, United States, Ukraine, Moscow
Germany said there is an urgent need for companies to de-risk from China, while "not pursuing a decoupling" of economies. "For Germany, China remains a partner, a competitor, a systemic rival. The minister was presenting the country's strategy on China and explaining how the country plans to protect its interests. "China's economic strategy aims to make it less dependent on other countries, while making international production chains more dependent on China," the foreign ministry said in a 64-page report published Thursday. "In terms of foreign policy, China is pursuing its own interests far more assertively and is attempting in various ways to reshape the existing rules‑ based international order.
Persons: Olaf Scholz, Li Qiang, Annalena Baerbock Organizations: Mercator Institute for China Studies Locations: Berlin, Germany, China, Europe
Back then one idea was to aggressively push for companies to disclose details of their China business, and even to stress-test their exposure, according to a draft seen by Reuters. The compromise likely stems from the realisation that China is simply too strategic to quit quickly without inflicting significant pain. A survey conducted by the ifo Institute showed that half of German firms in the manufacturing sector currently depend on important intermediate inputs from China. Even so, executives will be relieved they can for the most part undertake China de-risking at their own pace. Follow @ywchen1 on TwitterCONTEXT NEWSGermany’s first China strategy, published on July 13, outlined possible responses to an "increasingly assertive" Beijing, such as adjusting export controls and outbound investment restrictions.
Persons: Martin, Thomas Schäfer, Brudermüller, , Li Qiang, George Hay, Streisand Neto Organizations: Reuters, BASF, Volkswagen, Greens, Reuters Breakingviews, BASF ”, ifo, Reuters Graphics Reuters, Union, VW, European Union, Thomson Locations: China, Berlin, People’s Republic, Brussels, Washington, Taiwan, Republic, Germany, Beijing
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