U.S. Senate Minority Leader Mitch McConnell is using a powerful phrase to describe the rising partnership between China, Russia, and Iran. Why is the “strategic partnership” between Beijing and Tehran a concern for the United States? We take a look at what’s at stake. Washington is vowing to defend the Philippines from China after Manila said a Chinese ship “intentionally” collided with its vessels. There are global jitters over an ailing Chinese developer, but the firm’s woes are being felt far beyond Chinese borders. Who else is taking the impact? Topics in this episode: McConnell: U.S. Faces New ‘Axis of Evil’ China, Iran ‘Strategic Partnership’ Examined China, Russia: Friendship with ‘No Limits’ China, Philippines Boats Clash in South China Sea China Pivots Belt and Road Focus to Smaller Projects Taiwan Apple Supplier Foxconn Faces China Tax Probe Australia Prime Minister Announces Visit to China Country Garden Debt Crisis Hits Australian Town ‘Evil Versus Good’: Newsham on Russia, China, Iran ‘Axis of Evil’ Label Views expressed in this video are opinions of the host and guests, and do not necessarily reflect the views of The Epoch Times....Read more https://www.theepochtimes.com/epochtv/mcconnell-us-faces-new-axis-of-evil-5515493
After lifting trade barriers on timber, coal, and barley, the Australian government is now aiming to do the same with lobster and beef. This comes as Prime Minister Albanese confirmed on the weekend that he will be travelling to China from Nov. 4 to Nov. 7. Mr. Albanese also revealed Australia has reached a deal to resolve its World Trade Organisation (WTO) wine dispute with China. The trade agreement was announced just two days after the government announced a 99-year lease on the Port of Darwin, held by a Chinese company with links to the communist regime, would not be cancelled. Beef and Rock Lobster Commenting on future trade priorities, Agriculture Minister Murray Watt told Sky News Australia said there are two other hurdles regarding trade that remain with China....
China pledged an eight-point infrastructure scheme as part of its next five-year Belt and Road Initiative (BRI) goal in a recent international forum in Beijing. In the third BRI forum opening address on Oct. 18, Chinese leader Xi Jinping promised a $47.8 billion financing pledge from Chinese development banks, “small yet smart” projects that entail 100 joint laboratories, and 100,000 training opportunities for partner countries by 2030. Without specifically naming the United States, Mr. Xi said China “opposed geopolitical rivalry, bloc politics, unilateral sanctions, economic coercion and decoupling, and supply chain disruption” in his address. Experts suspect BRI is unraveling, considering the country’s falling domestic economy and the series of Chinese real estate defaults, as up to 40 percent of bank loans in China are associated with real estate....
China is grappling with the largest capital flight in years, raising concerns for authorities as Beijing exerts additional pressure on the yuan, which is already under strain due to a widening Sino-U.S. yield gap and mounting concerns about the Middle East crisis. Goldman Sachs’s preferred gauge of foreign exchange flows report published on Oct. 20 showed capital outflows from China surged to $75 billion in September, the highest monthly amount since 2016, compared to the $42 billion outflows in August. This increase occurred despite smaller outflows by the foreign portfolio investment channel, it added. “Foreign investors’ net selling of equities and bonds slowed, but the current account showed net outflows in September on the back of faster services trade outflows, lower goods trade related inflows and higher income and transfer outflows,” said the Goldman Sachs’s note accessed by The Epoch Times....