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HONG KONG (AP) — Hong Kong’s leader on Tuesday urged foreign governments to respect its overseas-based trade offices after a staff member in its London branch was charged in Britain for allegedly working for the Chinese city’s intelligence service.
BUDAPEST, Hungary (AP) — When Chinese President Xi Jinping visited Hungary last week, he arrived to one of the few places in the European Union where his country is considered an indispensable ally rather than a rival. By the time he left on Friday, he’d secured deals that provide fertile ground for China’s plans of economic expansion in Europe.
When China’s top leader, Xi Jinping, hosts President Vladimir V. Putin of Russia in China this week, it will be more than two years since the two autocratic leaders declared a “no limits” partnership to push back against what they consider American bullying and interference.
For decades, China has moved methodically to dominate ever more industries, from toys and clothing in the 1980s to semiconductors and renewable energy today. China now produces a third of the world’s manufactured goods — more than the United States, Germany, Japan, South Korea and Britain combined. Its trade surplus in these goods is equal to a tenth of the entire Chinese economy.
Historically, cooperation among the Global South has enabled developing economies to help each other through knowledge and technology transfers. Projects have focused on physical infrastructure including roads, railways and power plants to promote regional connectivity and support industrial activity.
CANBERRA -- Australia plans to spend at least $22.7 billion Australian dollars ($15 billion) over the next decade to make the country an "indispensable" part of the global economy as it transitions to net zero, Treasurer Jim Chalmers announced Tuesday.
BANGKOK -- Ever since the Thai government's gasoline subsidies expired in April, Somporn Torsri, a 29-year-old food delivery driver in Bangkok, has been in a bind: Taking more jobs would cut into his meager income of 500 baht ($13.60) a day.
European stocks are now more attractive than their U.S. counterparts, according to Swiss Bank UBS, with factors such as economic data, interest rates and earnings playing a key role.