Xi Jinping has been preparing for a crisis like this for years. China must secure its energy supply “in its own hands”, its president was reported to have said during a visit to one of its vast oilfields in 2021. The US-Israel war on Iran plunged the Middle East into a deep conflict, with the strait of Hormuz – one of the most important waterways in global trade – all but closed and key energy facilities across the region under attack. Oil exports from the Middle East have tumbled 61%…
Tag: Economics
Trump claims he has ‘absolute right’ to impose new tariffs after supreme court blow
Donald Trump has claimed he has “the absolute right” to impose new tariffs after the US supreme court ruled many of the import duties he imposed last year were illegal. The president attacked the court in a late night broadside on Sunday, accusing it of having “unnecessarily RANSACKED” the US – and failing to show him sufficient loyalty. In February, the supreme court found that a 1977 law designed to address national emergencies did not provide the legal justification for many of the tariffs the Trump administration had put on…
EU leaders to clash over ‘Buy European’ push at Belgium summit
EU leaders are expected to diverge on whether “Buy European” is an answer to Europe’s waning economic fortunes, at a summit on how to secure the continent’s future in a more volatile global economy. At a moated castle in the east Belgian countryside, the EU’s 27 leaders will gather on Thursday for a brainstorming session on how Europe can regain its economic competitiveness vis-a-vis the US and China, at a time of economic threats and political turbulence. The question of Europe’s declining competitiveness has long troubled the EU, but gained…
As US influence wanes, the Chinese trade surplus strangles manufacturing across the globe
When the Canadian prime minister, Mark Carney, took to the podium at the World Economic Forum in Davos last week to lament how “great economic powers” were dismantling the international order, it seemed clear that he was talking about the United States. He might have been talking about China as well. Not a week earlier, Beijing had revealed that China’s trade surplus ballooned by 20% in 2025, to $1.2tn. Despite Donald Trump’s wall of tariffs that crashed Chinese sales to the US, its overall exports expanded more than 5%. Sales…
What agreements have been made during Starmer’s trip to China?
Keir Starmer will be pleased that he has secured several agreements to mark his visit to Beijing and by the warm tone of President Xi Jinping’s remarks about his government. However, No 10’s announcements do not put a figure on the value of the deals, and there does not appear to be a big bundle of investments worth billions by Chinese or British firms, which prime ministers have usually tended to hold up as a sign of success. These are the agreements secured by the UK so far. Visa-free travel…
Chinese state media views Starmer’s visit as act of economic pragmatism
Keir Starmer’s visit to Beijing has been cautiously welcomed by Chinese state media as an act of economic pragmatism by a beleaguered British prime minister. The presence of 50 business and cultural leaders with Starmer, who is the first British prime minister to visit China in eight years, was taken as a sign that the UK was prioritising its ailing economy over political considerations. The reported refusal of Starmer to confirm that he would be seen to pressure President Xi Jinping over his relationship with his Russian counterpart, Vladimir Putin,…
What happened when Starmer met Xi Jinping? – podcast
Keir Starmer held talks with the Chinese leader Xi Jinping this week and proclaimed Britain should have a more ‘sophisticated’ relationship with China. Pippa Crerar, who was with the prime minister on the trip, tells Kiran Stacey what all this means The Guardian
Thursday briefing: Will Keir Starmer’s cautious China gamble pay off?
Good morning. The Starmer has landed. Yesterday, Keir Starmer became the first British prime minister to make the trip to China since Theresa May’s in 2018 (meaning a surprisingly large number of PMs didn’t) and has vowed to bring “stability and clarity” to the UK’s approach to Beijing. Ahead of talks with Starmer, Chinese leader Xi Jinping has said the UK’s relationship with his country had gone through “twists and turns” over the years but that a more “consistent” approach was in both their interests. In response, Starmer told Xi…
Starmer’s fraught visit to China will tell us what he really thinks of the UK’s place in the world | Peter Frankopan
This week, Keir Starmer will reportedly visit China. This will be the first trip of this kind by a British prime minister since Theresa May’s three-day visit to Beijing in 2018. Since then, relations between London and Beijing have become increasingly fraught, caught between growing security concerns and deep economic interdependence. Allegations of espionage and influence operations have sharpened political and public suspicion in the UK, even as deep trade links and supply chains on which the country depends make disengagement unrealistic. As fierce debate about the recent approval for…
The Guardian view on food security: Britain can no longer trust markets alone | Editorial
Food policy across much of the world is changing. But not in Britain. That may be a costly mistake as the prices of essentials rise because of the climate emergency, geopolitical tensions and the fragility of just-in-time supply chains. Many capitals are now reviving their strategic food reserves. European nations such as Sweden, Finland, Norway and Germany are rebuilding stocks dismantled after the cold war. Climate shocks have led to Egypt and Bangladesh boosting similar programmes. Countries such as Brazil and Indonesia – sensitive to the food needs of their…