The Brazilian president, Luiz Inácio Lula da Silva, has heralded his desire to build “indestructible” relations with China, as the leaders of three of Latin America’s biggest economies flew to Beijing against the backdrop of Donald Trump’s trade war and the profound international uncertainty his presidency has generated. Lula touched down in China’s capital on Sunday for a four-day state visit, accompanied by 11 ministers, top politicians and a delegation of more than 150 business leaders. Hours later Colombia’s president, Gustavo Petro, arrived, making a beeline for the Great Wall…
Tag: Asia Pacific
China and US agree 90-day pause to trade war initiated by Donald Trump
China and the US have agreed a 90-day pause to the deepening trade war that has threatened to upend the global economy, with reciprocal tariffs to be lowered by 115 percentage points. Speaking to the media after talks in Geneva, the US treasury secretary, Scott Bessent, said both sides had shown “great respect” in the negotiations. Bessent said: “The consensus from both delegations this weekend was neither side wants a decoupling.” The 90-day lowering of tariffs applies to the duties announced by Donald Trump on 2 April, which ultimately escalated…
Potential role for Chinese firm in key UK windfarm attracts government scrutiny
Ministers are weighing up proposals for a Chinese company to supply wind turbines for a major offshore windfarm in the North Sea. The government is in discussions with Green Volt North Sea over whether Mingyang, China’s biggest offshore wind company, should supply the wind turbines. Mingyang has emerged as the preferred manufacturer, but the company has sought advice from ministers on whether to proceed. Green Volt, which is jointly owned by Flotation Energy, a Scottish company and Vårgrønn, a Norwegian one, is constructing the first commercial-scale floating offshore windfarm in…
Chinese troops march with Russian forces as Xi joins Putin for Victory Day parade
Russian troops fighting in Ukraine marched together with Chinese forces on Moscow’s Red Square to mark the 80th anniversary of Nazi Germany’s defeat, in a Victory Day celebration marked by greater spectacle than in recent years. After several scaled-back Victory Days – with reduced military displays and few foreign guests – Vladimir Putin on Friday addressed the largest parade since his 2022 full-scale invasion of Ukraine. “The Soviet Union took upon itself the most ferocious, merciless blows of the enemy,” the Russian president said of the victory over Nazi Germany,…
‘The whole country is proud’: Chinese snooker fans hail Zhao Xintong triumph
Chain smoking under the fluorescent lights of a cavernous billiards hall in Beijing, Brother Yuan can’t stop smiling. The previous day, along with 150 million other people across China, he had been at home watching the snooker world championships final. Now he’s with his fellow cue-heads, celebrating the win of China’s first snooker world champion, Zhao Xintong. “He’s a great role model for young people in China,” Yuan, 55, says of the generation Z upstart who on Monday claimed snooker’s top prize. “He’s bringing the excitement back.” It’s a far…
China exports beat expectations despite slump in trade with US
Chinese trade with the United States slumped in April even as its total exports beat forecasts, official figures show, as trade representatives from both nations prepared to meet this weekend in the midst of a gruelling trade war between the superpower rivals. Exports to the United States – one of China’s top trading partners – fell 17.6% in April, data showed. Against that backdrop, analysts polled by Bloomberg had expected exports to rise just 2% year-on-year last month. However they beat expectations, coming in at 8.1%. “The damage of the…
Xi hails ‘confident’ China-Russia ties as Putin welcomes ‘dear friend’ to Kremlin
Xi Jinping and Vladimir Putin exchanged warm words in the Kremlin on Thursday during a grand ceremony welcoming the Chinese leader for his 11th visit to Russia. Xi said the Sino-Russian relationship was “confident, stable and resilient” in the new era and that China was willing to work with Russia to promote a multipolar world. Putin described his Chinese counterpart as a “dear friend”, while Xi described Putin as his “old friend”. Xi said: “History and reality have fully proven that the continued development and deepening of China-Russia relations is…
Taiwan president says country faces similar threat to Europe before WW2
Taiwan’s president, Lai Ching-te, has compared his nation to the European countries headed for conflict with Nazi Germany in the 1930s, in a punchy speech commemorating the end of the second world war in Europe. “Eighty years after the end of the European war, the message of history is clear. Today, 80 years later, we share the same values and face similar challenges as many of the democracies that participated in the European war,” Lai said to a group of foreign dignitaries gathered in Taipei. Lai speech comes at a…
Xi Jinping begins four-day Russia visit as Ukrainian drones attack Moscow
Xi Jinping has arrived in Moscow at the start of a four-day visit to attend Russia’s military parade commemorating the anniversary of the end of the second world war, known in Russia as Victory Day. The Chinese leader’s arrival coincided with Ukrainian drone attacks on the Russian capital. Moscow’s mayor, Sergei Sobyanin, said Russia’s air defence units destroyed at least 14 Ukrainian drones overnight. The attacks forced most of Moscow’s airports to close and Russia’s national carrier Aeroflot said it was reordering timetables to cope with the disruption. Xi’s visit,…
China to cut interest rates in response to trade war with US
China will cut interest rates and inject some much-needed liquidity into the domestic economy, as the country steels itself for a bruising trade war with the US. The People’s Bank of China said on Wednesday it would make a half-point cut to the banks’ reserve requirement ratio, its benchmark interest rate, and release 1tn yuan (£103.6bn) into the banking system. Pan Gongsheng, the governor of the People’s Bank of China, said China would also cut a key interest rate by 0.1 percentage point. Pan said the “moderately loose” measures were…