Global Economic Update

Good morning.This article is our live version First FT communication.Register our Asia, Europe/Africa Either America A version sent directly to your inbox every working day morning

China accuses the U.S. of seeing it as “imaginary enemy” He also stated that the relations between the two countries have fallen into a dangerous “stalemate.” Since President Joe Biden took office, the two countries have held their second high-level meeting.

Vice Foreign Minister Xie Feng stated that Washington hopes to “reignite the sense of national mission by shaping China as an imaginary enemy” and urges it to change what he calls “extremely dangerous China policy”.

His comments were made during a meeting with U.S. Deputy Secretary of State Wendy Sherman. This is the first face-to-face meeting between senior U.S. and Chinese officials since the quarrel in Alaska in March. Sherman also met with Chinese Foreign Minister Wang Yi.

The Chinese Ministry of Foreign Affairs stated that “China-US relations are currently at a deadlock and are facing serious difficulties.”

There are five more stories in the news

1. China suppresses the education industry Beijing began to suppress $100 billion private education industry This may erase billions of dollars in investments from groups such as BlackRock, Baillie Gifford, Tencent, Sequoia and SoftBank Vision Fund.Global Investor Sale Valued at 2 billion U.S. dollars News on the Chinese stock market on Monday.

2. U.S. real yields hit a record low due to economic growth concerns After the inflation rate of the world’s most important government bond has fallen, investors’ expectation of return Hit a record low In the autumn that has a broad impact on the global market.

3. Aon-Willis Towers Watson transaction failed Aon and Willis Towers Watson have Gave up 30 billion US dollars of cooperation This will create the world’s largest insurance broker after the U.S. government Prosecute Prevent the combination. Aon’s chief executive, Greg Case, said the two companies have reached a “stalemate” with the U.S. Department of Justice.

4. Unrest in Tunisia The country’s nascent democracy is facing The biggest crisis in a decade Outraged by the surge in coronavirus cases, the president fired the prime minister and suspended the parliament. Opponents of President Keith Said described the dismissal as a coup, violating the constitution of the only democratic country in the Arab world.

5. Man Group boss: cryptocurrency “has no intrinsic value” The CEO of the world’s largest listed hedge fund manager stated that cryptocurrencies “have no intrinsic value”, but Create trading opportunities Because the price of his company fluctuates drastically. Luke Ellis likened cryptocurrency to a “tulip bulb”, a flower that was the focus of the Dutch financial craze in the 17th century.

  • More encryption news: Bitcoin price Over 40,000 USD It is speculated that Amazon is exploring the acceptance of cryptocurrency as a payment option. (Bloomberg)

Tokyo Olympic finals

  • Westinghouse Momiji Japan, A sort of 13 year old skaterAfter winning the women’s street event, she became the sport’s first female Olympic champion.

  • Adam Petty Won Men’s 100m Breaststroke On Monday, Britain won its first gold medal at the Tokyo Olympics.

  • France Hand it to American Their First Olympic basketball defeat After a lapse of 17 years, the first round of the group stage was won by 83-76.

  • Australian Ariarne Titmus defeated American legend Katie Ledecky in the women’s 400m freestyle. See below for an epic celebration of Coach Titmus.

Add to ‘Tokyo Olympics‘Go to myFT to learn about all our coverage of the Olympics, don’t miss our “Alternative Medal Table”.

The days to come

Anthony Brinken arrives in India The U.S. Secretary of State will start his First official visit to India, Where he will discuss with officials the security situation in Afghanistan and contacts in the Indo-Pacific region. Before heading to Kuwait, he will also have a phone call with Prime Minister Narendra Modi. (The Times of India)

Technology benefits Apple, Alphabet and Microsoft will announce earnings on Tuesday.The latest quarterly data will highlight the disturbing fact by regulators: As leading US technology companies profit from the digital advantages of the pandemic, they are registering Strongest growth rate in years.

Ariane 5 launch The Ariane 5 spacecraft supported by the European Union will re-fly after being grounded for nearly a year. Success will bring relief—this European project has recently been trying to maintain its position as a leader in space exploration—maybe talking about advancing Ariane 6.

Coronavirus Digest

  • Malaysia’s stock marketBoosted last year with the support of the glove manufacturer pandemic, now it’s in Asia Worst performing market.

  • This US Will keep it Covid-related travel ban In the foreseeable future, due to the spread of the more communicative Delta variant.

  • A sort of A sharp decline Among the number of people UK In the past six days, the Covid-19 test was positive, which surprised and delighted scientists.

  • France approve A downplayed version of the proposed law obliges health care workers to be vaccinated against Covid-19 and requires a “health pass”. (The Nikkei Asian Review, FT)

register For us Coronavirus business update Newsletter and get the latest information about us Live blog.

Other content we are reading and watching

Carlos Ghosn: The Rise and Fall of Superstar CEOs a new one FT film It tells the story of how Ghosn changed from a global giant in the automobile manufacturing industry to an international fugitive. Interviews with industry executives and “Financial Times” reporters revealed the dizzying rise of “le cost cuter” and its astonishing decline.

Joe Biden’s Afghan troop withdrawal may end in tragedy Biden may think that drawing a clear line under the Afghan war will allow the United States to focus on more pressing issues. Gideon Rahman wroteSadly, he may have just created a new Afghan crisis, and it will haunt him again.

The Fed is divided on reducing economic support The chairman of the US Federal Reserve (Fed/FED) is facing growing disagreements among senior central bank officials on when to start withdrawing the injection of Covid-19 monetary stimulus measures. It is expected that the debate will be more intense at the interest rate setting meeting this week.Here is an introduction The doves and hawks of the Federal Reserve.

Can the new commodity boom revive Brazil? With the lifting of Covid-19 restrictions and the recovery of global economic growth, this South American country is now riding on the rise in commodity and raw material prices.But how do commodities rise Staged This will have an important impact for the 213 million Brazilians, who have witnessed decision makers wasting the opportunity of previous commodity booms.

Newsletter recommended for you

Swamp notes — Expert insights into the intersection of money and power in American politics.register here

Trade secrets — A must-read book on the changing face of international trade and globalization.register here


Source link