Brics leaders meeting in Rio de Janeiro condemned recent bombing campaigns against Iran in their final summit statement, calling the strikes a “violation of international law” and “deliberate attacks” on civilian infrastructure, but avoided direct mentions of the US and Israel. Advertisement The joint declaration, coming against the backdrop of US President Donald Trump’s threats to impose tariffs of 100 per cent on imports from Brics countries, underscores an apparent effort to state the members’ position without directly provoking the “America First” leader as they separately negotiate trade deals with…
Day: July 6, 2025
China’s Li, Brazil’s Lula pledge joint effort to bring AI to farming
Brazilian President Luiz Inácio Lula da Silva and Chinese Premier Li Qiang agreed to cooperate on bringing artificial intelligence to improve agriculture in both of their countries, and Lula called on his counterpart to join an initiative aimed at saving the world’s forests. Advertisement In a statement issued from the sidelines of the annual Brics summit in Rio de Janeiro, the two sides also highlighted the “excellent moment in bilateral relations” and reaffirmed their “commitment to multilateralism and peace, underlining the role of BRICS in defending multilateral trade and climate…
China’s military will need structural change to fend off drone threats: experts
Three military analysts have called for structural changes within the People’s Liberation Army to counter the growing threat of drone attacks. Advertisement Writing in the PLA Daily, the experts said it was highly likely that the Chinese military would establish specialised counter-drone combat units capable of “rapid responses” to unmanned threats while addressing the inefficiencies of multitasked traditional units. Drones have played an increasingly crucial role in recent regional conflicts, including the war in Ukraine, the India-Pakistan conflict, and the recent strikes between Israel and Iran. The article, published by…
Map: Tracking Typhoon Danas
1-day forecast precipitation Very light Heavy Extreme 1-day risk Share of customers without power Sources and notes NYT
‘Best in history’: China’s Li Qiang hails Brazil ties as he meets Lula in Rio
Chinese Premier Li Qiang has lauded his country’s growing ties with Brazil as at their “best in history”, as both nations brace for a battle with the US over trade and the global order. Advertisement Meeting Brazilian President Luiz Inácio Lula da Silva for talks on Saturday ahead of the Brics summit in Rio de Janeiro, Li said the two sides were “working together to build a more just world”. “The two sides are working together to build a China-Brazil community of shared future in a more just world and…
Why Chinese investors can still expect a warm welcome in many US cities
Most local government officials in the US still welcome Chinese-invested projects despite a rise in trade tensions this year, a Chinese chamber of commerce leader said this week as potential investors weigh up economic benefits and geopolitical risks. Advertisement City leaders want Chinese investment to help stimulate their local economies, especially in manufacturing projects that are hard to source elsewhere, said Ni Pin, chairman of the China General Chamber of Commerce branch in Chicago. “There are a lot of people who want to come over here,” he said. “They are…
Will China’s bid to boost domestic demand pay off?
At the World Economic Forum’s “Summer Davos” meeting in Tianjin last month, Premier Li Qiang said that China is evolving into a “mega-sized consumption powerhouse”. This was more than a rhetorical flourish. It marked a reaffirmation of Beijing’s long-standing ambition to change its growth model, placing domestic demand, rather than exports or real estate, at the heart of the economy. Advertisement This vision is not new. Policymakers have been talking about rebalancing for over a decade. But the timing of Li’s message is noteworthy: global demand is faltering, supply chains…
In retaliatory move, China blocks EU companies from medical device contracts
China has barred European companies from major Chinese government medical device contracts, hitting back against similar EU restrictions imposed on Chinese firms last month. Advertisement In a notice on Sunday, the Ministry of Finance said that European Union companies without operations in China were excluded from government medical device contracts valued at more than 45 million yuan (US$6.3 million). Taking effect on Sunday, the restriction does not apply to EU-funded companies operating in China. Non-EU companies taking part in such government tenders must not allocate more than half of the…
Has Starmer placated gilt investors?
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. This week’s fireworks in the gilts market, as investors fretted that the chancellor’s tears in the House of Commons portended her departure, marked the latest in what have become regular bouts of volatility in UK government bond prices. After selling off with the pound on Wednesday afternoon when Sir Keir Starmer stopped short of giving Rachel Reeves his full backing, gilt prices recovered after the prime minister made fuller public…
Inside China and Tanzania’s ‘very special’ ties – found nowhere else in Africa
Advertisement Observers say that of those countries, Tanzania stands out as an exceptionally strong and enduring military partner for Beijing, with more than 90 per cent of its military arms from China. According to a study released last month by the Africa Centre for Strategic Studies, Tanzania has “a very special relationship” with the People’s Liberation Army (PLA), “one you will not find in any other African country”. Tanzania’s military inventory, order of battle, battle doctrine and service doctrine are heavily inspired by the PLA, according to the study. “This…