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NATO leaders warned China faces “systematic challenges” The rules-based international order shows that the West is increasingly disturbed by Beijing’s military ambitions.

According to a NATO communiqué, members of the Transatlantic Alliance convened in Brussels on Monday listed disinformation, military cooperation between China and Russia, and the rapid expansion of China’s nuclear arsenal as part of the threat.

The strength of the statement shows how far relations between the West and Beijing have deteriorated in the 18 months since the last meeting of NATO countries. Subsequently, they issued a cautious statement on the “opportunities and challenges” brought by China.

When US President Joe Biden made his tough remarks at the NATO summit for the first time, members of the 72-year-old Cold War military treaty vowed to expand cooperation in new conflict zones from cyberspace to outer space.

Five stories in the news

1. EDF seeks data review of possible Chinese radiation leakage The utility company backed by the French government said that after a failure, it is seeking to convene a special board meeting at a joint nuclear power plant in southern China. Reports of possible leaks of “certain inert gases”‘. Noble gases are inert gases such as helium, xenon, and radon.

2. Toshiba Chairman of the Board of Directors refuses to resign Changshan Xiu Monday Rejected the shareholders’ call for resignation He also emphasized that his duty is to resolve the turbulent situation when the Japanese company fell into a deeper governance crisis.

3. Father and son plead guilty to planning Ghosn’s escape Michael Taylor, a 60-year-old former green beret, and his 28-year-old son Peter are accused of planning Carlos Ghosn’s orchestrated escape from Japan via bullet trains, private jets and musical instrument boxes. Plead guilty in a Tokyo court. They will face up to three years in prison.

4. JPMorgan Chase’s investment banking boom JPMorgan Chase may be Will usher in one of the strongest quarters Chief Executive Jamie Dimon (Jamie Dimon) said that transaction fees can help compensate for weak bank loan growth and slower transaction revenue.

• More bank news: The ECU Group claimed in the High Court of the United Kingdom that “Bad Culture” Between 2004 and 2006, HSBC’s foreign exchange trading counters were everywhere, and bankers abused confidential information to “preempt” customer orders. HSBC denied allegations of fraud and misconduct by the currency manager.

5. Lordstown Motors CEO and CFO resign CEO and CFO of Lordstown Motors, an electric vehicle startup He has resigned Less than a week after the company said it was at risk of failure due to lack of funds.

Coronavirus Digest

• Boris Johnson Postpone the full opening of the British economy Due to the increase in coronavirus cases, four weeks in advance.This good news Is Public Health England confirmed that the BioNTech/Pfizer and Oxford/AstraZeneca vaccines are More than 90% effective Prevent admission to the hospital due to the Delta variant.

• In a rare interview, Chinese Virologist Shi Zhengli The speculation that the Wuhan Institute of Virology laboratory leaked is UnfoundedBut China’s refusal to allow an independent investigation makes her claims difficult to verify.

• A tough message from the CEO of Morgan Stanley New York employees: “If you can enter a restaurant in New York City, you can enter the office and We hope you are in the office. “

• Novax The Covid-19 vaccine is 90% effective in later trials In the United States and Mexico, and proved that it can solve worrying virus variants. (“Financial Times”, “New York Times”)

Follow our live coronavirus blog Here with Sign up For us Coronavirus business update communication.

the day before

Federal Reserve Interest Rate Meeting When U.S. central bank officials held a meeting today Two-day monetary policy meeting, Should the central bank Began to talk about taper Its monthly bond purchase plan of US$120 billion will lead the agenda.

• View: How the Fed responds to the current surge in U.S. inflation will affect its credibility. Mohamed El-Erian says.

U.S.-Europe Summit As Joe Biden attended the US-EU summit on Tuesday, his administration retained more Trump policies than the EU had hoped. Alan Beattie’s notes in trade secrets. Registration Here Receive newsletters in your inbox.

FT Commodities Global Summit Some people predict that the commodity super cycle of the 2000s will repeat itself, and this year’s event agenda starting today will assess how commodity traders will seize new opportunities as the market develops and fundamentals change. Register here.

What are we still reading

Is Israel’s “comeback boy” over like this? This The dethronement of Benjamin Netanyahu Has been slow and sharpened. There were four deadlocked elections in two years, and the coalition of eight parties only removed the prime minister who had been in power for 12 years. But the new alliance is so fragile that some people think that the deposed leader may return.

The transition from Libor is painful but necessary For all the confusion over the transition from the London Interbank Offered Rate, the treasurer supports this change. This indicator is based on a small number of actual transactions and is set by a small group of bankers from 20 lenders. It is not suitable for playing such a huge role in global finance. Claire Jones of the Financial Times wrote.

The crumpled Boris, Macron’s mistakes, and other G7 tailoring mistakes The diplomatic power of dress was demonstrated at the Cornwall summit.US financial editor and fashion columnist Rob Armstrong (Rob Armstrong) commented on the summit Winners and losers ——That is the advantage of their suits.

The central bank weighs how to enter the crypto market Regulators and central banks are Fight for control of the monetary system As cryptocurrency poses an increasing challenge to fiat currencies, it may weaken the leverage that policymakers use to control economic operations.

China-US trade war boosts China’s Shein Last month, the Chinese e-commerce platform became the most downloaded shopping app in the United States, breaking Amazon’s 152 consecutive days of record.The success of this company with a valuation of up to 30 billion U.S. dollars is attributed to Changes in China’s Tax Law in the Trade War Era. But some brands say that Shein’s success has also benefited from “Intentionally and calculated” trademark infringement. (Bloomberg, Financial Times)

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