Chinese President Xi Jinping and North Korean leader Kim Jong Un discussed extending their countries’ communication and cooperation during in-person talks in Beijing’s Great Hall of the People on Thursday. The meeting came a day after the two men appeared with Russia’s Vladimir Putin and other world leaders at a massive military parade in Beijing’s Tiananmen Square that celebrated 80 years since the end of World War II and showcased China’s military might and deepening alliances. Chinese state media said that Xi told Kim that Beijing attached “great importance to…
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China’s urban planners could determine the future of city life
In THE first decade of Xi Jinping’s rule, builders in China poured more concrete than America did in all of the 20th century. Urban areas expanded by 40%. No longer. In the past five years the debt-fuelled property market has slumped. Evergrande, once China’s largest developer, has collapsed: on August 25th it was delisted from Hong Kong’s stock exchange. Many cities today are plagued by sprawl, smog and gridlock, and are littered with tens of millions of empty flats. China’s leaders say they want a new approach, aimed at making…
A stress test for global trade
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is director-general of the World Trade Organization In the past six months, the global trading system has been jolted by the US’s unilateral actions. More than a few people have proclaimed the demise of the World Trade Organization. Such obituaries have appeared since at least the 1980s but the ongoing disruptions are unprecedented in speed and scope, and have undeniably shaken confidence in open and predictable trade. World trade…
Xi and Kim hold talks as west fears emergence of ‘autocratic alliance’
Stay informed with free updates Simply sign up to the Chinese politics & policy myFT Digest — delivered directly to your inbox. Chinese leader Xi Jinping and North Korean dictator Kim Jong Un have held in-person talks for the first time in six years, underlining their improving ties a day after they posed with Russia’s Vladimir Putin at a grand military parade in Beijing. Kim’s meeting with Xi on Thursday will add to concern among many in Europe and the US about what Brussels this week termed an emerging “autocratic…
A new Russia-China gas pact could reshape global energy markets
Stay informed with free updates Simply sign up to the Oil & Gas industry myFT Digest — delivered directly to your inbox. The writer is a research fellow at the Center on Global Energy Policy at Columbia University Russia and China have just reshaped the global gas game without signing a single supply contract. The proposed Power of Siberia 2 (PoS2) pipeline would deliver up to 50 BCM of gas per year from the Russian Arctic to northern China via Mongolia. The deal marks a geopolitical pivot and the signal…
Taiwan accuses China of breaching international law over drilling
Taiwan’s government has accused China of breaching international law by drilling for oil and gas inside Taiwan’s exclusive economic zone (EEZ) and immediately demanded it halt the activity. The statement from the office of Taiwan’s president, Lai Ching-te, came after revelations first reported by the Guardian that several Chinese oil rigs and associated vessels had been detected inside Taiwan’s EEZ, near the disputed Pratas Islands, which are under Taiwanese control. A report published by the Jamestown Foundation, a US-based thinktank, said the assets had been there for up to five…
Shares in supplier to BMW and VW tumble 22% on accounting probe
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Nidec, one of Japan’s most acquisitive companies, launched a probe into “improper accounting”, sending the motor maker’s shares down 22 per cent on Thursday. The parts supplier to major automakers including Volkswagen and BMW said late on Wednesday that it was establishing a third-party committee to investigate accounting practices at its Chinese subsidiary Nidec Techno Motor. The subsidiary was suspected of improper accounting after Nidec was notified of a Rmb10mn…
Weaponised ‘robot wolves’ make cameo at China military parade – video
Weaponised ‘robot wolves’ made a cameo at China’s military parade, perched on armoured vehicles as part of the country’s showcase of military might. The event, marking 80 years since Japan’s defeat at the end of the second world war, was largely shunned by western leaders, with Vladimir Putin and Kim Jong-un – pariahs in the west due to the Ukraine war and North Korea’s nuclear ambitions – the guests of honour The Guardian
Daniel Andrews defends decision to attend China military parade alongside Vladimir Putin and Kim Jong-un
Daniel Andrews has hit back at critics of his decision to attend China’s military parade alongside Russian president Vladimir Putin and North Korean leader Kim Jong-un, saying it was a chance for him to “meet and engage with regional leaders”. The former Victorian premier, known for his interest in bolstering his state’s ties with China while he was in the job, was pictured at the ceremony on Wednesday and was quickly criticised for posing with the so-called “axis of upheaval”. The Iranian president, Masoud Pezeshkian, and Myanmar’s junta leader, Min…
Chinese stocks slide the most in 5 months
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Chinese stocks slid the most in five months on Thursday, a day after President Xi Jinping projected his nation’s global ambition with a landmark military parade in Beijing. The blue-chip CSI 300 benchmark fell 2.1 per cent, while Hong Kong’s Hang Seng index dropped 1 per cent. China’s tech-focused Star 50 index shed 6.2 per cent. The CSI 300 surged more than 10 per cent in August, fuelled by a…