China News Live: China's partnership with Russia puts pressure on Europe

The "no limits" partnership between China and Russia is sending a strong message to Europe and the US, with China providing Moscow with critical military-use components, as per a report in The Hill. In 2023, imports and exports between the two countries exceeded $237 billion.

The partnership raises concerns about Europe's perceived inaction and the potential implications for the conflict in Ukraine, according to a report in The Hill. The US has imposed sanctions on Chinese entities supporting Russia, and NATO has increased its focus on China as a systemic challenge.

Russia is looking to leverage this week's BRICS summit to advance de-dollarization and create a financial system that is less susceptible to Western sanctions, according to a report in The Economist. This initiative is driven by extensive sanctions imposed on Russia following its invasion of Ukraine, which has accelerated the country's search for alternative financial systems and currencies. China has been actively promoting the use of the Yuan in international trade, particularly with countries participating in the Belt and Road Initiative, as an alternative to the U.S. dollar.

The potential expansion of BRICS membership to include other countries seeking alternatives to the Western-dominated financial system could strengthen the bloc's ability to challenge the dollar's dominance. While de-dollarization could offer developing countries greater financial autonomy, it also introduces risks associated with alternative currencies. Experts note that a successful de-dollarization would require a credible alternative currency and financial system, which is a significant challenge given the U.S. dollar's established role.

China's Vice-Premier He Lifeng is scheduled to meet with U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer in Switzerland between May 9 and 12, as reported by The Guardian. These discussions aim to address trade tensions that have been ongoing since President Donald Trump's administration implemented widespread tariffs. China has stated its commitment to upholding international fairness during these talks.

The upcoming meeting marks the first time both countries will discuss the trade war, which began last month and has had a global economic impact. China has pledged to protect international justice in the discussions, as per a report in The Guardian.

Huawei is set to launch its first laptop featuring the Harmony operating system, which is self-developed, on May 19, according to a social media announcement by the company, as reported by Reuters. This launch is a key step in China's push for technological self-reliance, particularly in software, amid geopolitical competition with the U.S. and the impact of U.S. sanctions that have restricted Huawei's access to American technology, including Google's Android operating system.

The development of HarmonyOS is part of a broader effort by China to reduce dependence on foreign technology and enhance national security. The success of HarmonyOS will depend on attracting developers and building a robust ecosystem of applications to compete with established operating systems like Windows and macOS, as per a report in Reuters.

HONG KONG (Reuters) - U.S. President Donald Trump has said he would raise the case of jailed Hong Kong activist and former media tycoon Jimmy Lai as "part of the negotiation" with China over trade and tariffs, a move that could further stoke tensions with Beijing. "I think talking about Jimmy Lai is a very good idea," Trump told radio host Hugh Hewitt on Wednesday. "We'll put it down, and we'll

The Economist reports that a recent UN vote concerning Palestine highlights a surge of international support for Palestinians, occurring against the backdrop of the ongoing Gaza war. This development signals a potential weakening of the United States' global influence, as China and Russia seek to leverage the situation to enhance their international standing. This shift reflects a broader trend of growing multipolarity in international relations, with China actively engaging in diplomatic efforts in the Middle East and positioning itself as a potential alternative to the U.S. as a regional power broker.

The UN vote, while largely symbolic due to the non-binding nature of General Assembly resolutions, carries significant political weight and could further isolate Israel diplomatically. It may also embolden international efforts to hold Israel accountable for alleged human rights violations. For the Palestinian Authority, the vote provides a boost to their diplomatic efforts and reinforces their claim for statehood, according to a report in The Economist.

Executives from OpenAI, Microsoft, and AMD will appear before the U.S. Senate Commerce Committee, led by Republican Senator Ted Cruz, to present their recommendations on how the U.S. can outperform China in the AI sector, as per a report in Reuters. The hearing aims to identify and reduce regulatory obstacles that hinder U.S. innovation in AI.

The hearing occurs amid ongoing debates in Congress regarding AI regulation and increased geopolitical competition between the U.S. and China, particularly concerning technology. The U.S. government has previously implemented export controls on advanced AI chips to China to limit China's AI development.

Xi Jinping, who currently serves as the General Secretary of the Chinese Communist Party, met with Vladimir Putin in the Kremlin on Thursday, as reported by The Guardian. During the visit, Xi Jinping affirmed that the Sino-Russian relationship is stable and resilient, expressing China's readiness to collaborate with Russia to foster a multipolar world. This visit coincided with Victory Day commemorations in Russia, marking Xi's 11th visit to the country.

Western sanctions on Russia, following the invasion of Ukraine, have pushed Russia to seek stronger ties with China, while China has maintained a neutral stance on the Ukraine war, refraining from condemning Russia's actions, according to The Guardian. The strengthened relationship between China and Russia could complicate efforts to resolve the conflict in Ukraine and presents a geopolitical challenge to the US and NATO.

Baidu has filed a patent with the China National Intellectual Property Administration for an AI system that aims to decipher animal sounds, potentially translating them into human language, according to a report in Reuters. This development is part of China's broader strategy to become a global leader in artificial intelligence, with the government investing heavily in AI research and development.

The patent application highlights the ongoing technological competition between the United States and China, as both countries vie for leadership in AI, which is seen as crucial for economic and military power. The development also raises ethical considerations about data collection, privacy, and the potential misuse of AI in animal communication.

The UN is facing potential financial collapse, with the US and China contributing to the crisis, according to a report in The Economist. Both nations have reportedly withheld or delayed funding, reflecting geopolitical tensions and disagreements over UN priorities; these actions could severely limit the UN's ability to carry out mandates, especially impacting developing countries that rely on UN assistance, as per a report in The Economist. Ongoing discussions for UN reform, including budgetary adjustments, aim to address inefficiencies and ensure equitable burden-sharing among member states.

Vladimir Putin greeted Xi Jinping in Moscow for talks that Russia hopes will bolster its diplomatic standing during the conflict in Ukraine, according to a report by Reuters. The meeting occurred amidst international scrutiny, including an International Criminal Court (ICC) warrant for Putin related to alleged war crimes in Ukraine, and China's recent release of a 12-point peace plan for the conflict. Western powers have imposed significant economic sanctions against Russia, making China's continued support crucial for mitigating the impact.

The meeting reinforces China's role as a potential mediator in the Ukraine conflict and strengthens its strategic partnership with Russia. Experts suggest this alignment counters perceived US influence and creates a multipolar world order, while others express concern that it undermines the rules-based international order. China claims neutrality in the Ukraine conflict but has refrained from condemning Russia's actions and has provided economic and political support, as per a report in Reuters.

Gold prices declined after initial gains due to reports that President Donald Trump (Past Event) was nearing a trade deal with Britain, which impacted market sentiment, Reuters reports. Investors are also focused on upcoming trade talks between the U.S. and China. Spot gold decreased by 0.8% to $3,336.49 an ounce, after having risen more than 1% earlier in the trading session, as per a report in Reuters. U.S. gold futures also saw losses.

Lai Ching-te, the current President of Taiwan, likened Taiwan's position to that of European nations on the brink of conflict with Nazi Germany in the 1930s, during a speech commemorating the end of World War II in Europe, as per a report in The Guardian. Lai stated that Taiwan shares similar values and faces comparable challenges to the democracies involved in the European war, speaking to foreign dignitaries in Taipei.

Lai's comparison comes amid increased Chinese military activity near Taiwan, recent US arms sales to Taiwan, and strong condemnation from China following Lai's inauguration, said The Guardian in a report. China views Lai as a separatist and has responded with military drills around Taiwan, further escalating tensions.

Donald Trump teased a major trade deal announcement scheduled for the Oval Office, as per a report in The Hill. This announcement comes nearly a month after he implemented a 90-day pause on reciprocal tariffs. In the past, Donald Trump's administration implemented a 145 percent tariff on China.

The announcement follows prior trade actions, including the implementation of tariffs on China. The details of the potential trade deal and the specific country involved were not disclosed in the initial report.

Oliver Zipse, BMW’s chief executive, has predicted the reduction of import tariffs on foreign cars imposed by Donald Trump by July, as reported by The Guardian. This projection coincides with BMW's announcement of a 25% decrease in profits for the first quarter of 2025.

The German car manufacturer's financial results reflect a challenging period, and Zipse's expectation of lowered tariffs suggests a potential shift in trade policies that could alleviate some of the financial strain on BMW, according to a report in The Guardian.

Oil prices experienced a surge of around 3% on Tuesday, driven by signs of increased demand from both Europe and China, alongside reduced production levels in the United States, according to a report in Reuters. Brent futures rose by $1.92, settling at $62.15 a barrel, while U.S. West Texas Intermediate (WTI) crude increased by $1.96 to close at $60.63 a barrel, as reported by Reuters.

The price increase is occurring amidst ongoing tensions in the Middle East and after prices had fallen to a four-year low the previous day, according to Reuters. China's post-COVID economic recovery is a key factor influencing the rise in oil demand, although the strength of this recovery is subject to debate. These market dynamics have political implications for China's Communist Party, the Biden Administration, European governments, and U.S. oil producers, as per a report in Reuters.

Donald Trump said on Wednesday that he was not considering reducing the existing tariffs on imports from China. When asked by reporters in the Oval Office about potentially reducing levies on China, Donald Trump responded negatively, The Hill says in a report. These remarks come before planned trade discussions, signaling a firm stance from the U.S. side.

In early April, the Trump administration had announced reciprocal tariff exemptions on certain electronics, such as phones. The current tariff rate on many Chinese goods is 25%, imposed under Section 301 of the Trade Act of 1974, as reported by The Hill.