Beijing supports follow-up Saudi-Iran talks: Xi

President Xi Jinping spoke by phone with Saudi Crown Prince Mohammed bin Salman Al Saud, discussing a wide range of subjects, including supporting follow-up talks between Saudi Arabia and Iran, broadcaster CCTV reported on Tuesday.Xi recently helped broker a deal between Iran and Saudi Arabia earlier this month to restore diplomatic ties.Prince Mohammed, who is also the kingdom's prime minister, voiced appreciation for Beijing's initiative to support "efforts to develop good neighbourliness" between Sunni Muslim Saudi Arabia and Shi'ite Iran, Saudi state news agency SPA said.The two leaders stressed the importance of strategic ties between Saudi Arabia, the world's top oil exporter, and economic powerhouse China, a main trade partner of Gulf states, it added.Xi said the two countries will firmly support each other on issues involving their respective core interests, and make more contributions to promote peace, stability and development in the Middle East, state media reported.Earlier this week, oil giant Saudi Aramco raised its multi-billion US dollar investment in China with two deals that are the biggest to be announced since Xi visited the kingdom in December, where he attended a summit with Gulf Arab leaders.The foreign ministers of Saudi Arabia and Iran are expected to meet during the ongoing Muslim holy month of Ramadan after Riyadh and Tehran agreed, following talks in Beijing, to revive relations after years of hostility that had threatened stability in the Gulf and helped fuel conflicts in the Middle East. (Reuters)

2023-03-28 15:41:32

No, it's in worse trouble than you think

China Could Be A ‘Safe-Haven’ Amid Banking Turmoil — Citi

The unfolding banking crisis in the US and Europe, which has shattered investor confidence in the Western financial system, could highlight China as a “relative safe haven,” economists at Citi said in a note seen by CNBC.

“We have long been discussing our view that China can be a major growth hedge this year… if anything, recent global banking stresses perhaps have strengthened this thesis,” a team led by Citi’s Chief China economist Xiangrong Yu reportedly stated.

“China could at least be a relative ‘safe haven’ given its growth premium, financial soundness, policy discipline, and the new political economy cycle,” the economists argued.

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Pentagon Pushes Silicon Valley Into China Arms Race

According to the WSJ, the US Department of Defense is looking for private investment to spur innovation and production in US arms development to counter Chinese dominance.

The Biden administration requests a $115 million Office of Strategic Capital to encourage Silicon Valley investors to boost arms production.

"The tech bros aren't helping us that much in Ukraine," Pentagon acquisition chief Dr. Bill LaPlante has said. At the same time, Stanford University analyst Steve Blank even likened Beijing’s military industry to Silicon Valley.

"If you don't see ten new names in the next three years, we're failing to integrate commercial technology into the DOD," he added. "That's the ultimate test."

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#Apple’s CEO Tim Cook met with the Chinese commerce minister over the weekend, where Cook praised China for its symbiotic relationship with the company. However, Apple, on the other hand, has declined to comment about Cook’s trip.

https://ept.ms/ChinesePropaganda

The U.S. has warned previously that #Americans should refrain from visiting #China due to China arbitrarily detaining foreign citizens. This comes as a Japanese citizen had been detained and accused of espionage.

https://ept.ms/ChinesePropaganda

#Taiwan has lost another diplomatic ally to China— #Honduras. This came as the Central American country switched its diplomatic relations from Taiwan to Beijing.

https://ept.ms/ChinesePropaganda

The U.S. #HouseOfRepresentatives passed a bill to revoke #China's "developing nation" status, voting that the world's second-largest economy should not get those benefits. A new report sheds light on the opaque nature of China's deals.

https://ept.ms/ExposingChinasDeals

Cold storage facility fire in Hebei kills 11

A fire killed 11 people at an abandoned cold storage facility in Cangzhou in Hebei province.The blaze started Monday afternoon when the warehouse was being dismantled, and raged for more than eight hours before it was put out, according to a statement by the local government.Authorities are investigating the cause of the tragedy. (Agencies)

2023-03-28 21:34:12

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