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Europe

UK and Australia agree first post-Brexit free trade deal | Source: Al Jazeera

British Prime Minister Boris Johnson gestures as he meets with his Australian counterpart Scott Morrison at Downing Street in London [Henry Nicholls/Reuters]
British Prime Minister Boris Johnson gestures as he meets with his Australian counterpart Scott Morrison at Downing Street in London.

The United Kingdom and Australia announced a new trade deal, the first such agreement the UK has negotiated from scratch since it left the European Union.

Source: Al Jazeera


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Europe

G7 endorses global infrastructure plan to rival China’s Belt and Road | Source: TRT World

Italian PM Draghi, US President Biden, French President Macron and President European Commission von der Leyen speak, during the G7 Summit, in Cornwall, England, June 11, 2021. 

G7 leaders, who are meeting in England, have adopted a rival plan to oppose China’s Belt and Road Initiative by helping build infrastructure in poorer nations in a “values-driven, high-standard and transparent” partnership. The adoption of the US-inspired “Build Back Better World” (B3W) project came after President Joe Biden and leaders met to address “strategic competition with China “.

Source: TRT World


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Asia Pacific

China hits back at US and allies with anti-sanctions law | Source: Nikkei Asia

China retaliated against international sanctions, passing a law believed to provide legal tools for its officials and companies in responding to Western penalties. The law may be a “game-changer as it would provide a mechanism for targeted Chinese entities to file a lawsuit against a foreign company that is complying with foreign-imposed sanctions.

Source: Nikkei Asia


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North America

US Senate votes for bill to help compete with China | Source: Al Jazeera

A hardline in dealings with China is one of the few themes uniting a divided Congress [File: Stefani Reynolds/Bloomberg] (Bloomberg)

The US Senate approved a sweeping package of legislation intended to boost the country’s ability to compete with Chinese technology and research, in semiconductors and telecommunications equipment, among others. China’s parliament expressed “strong indignation and resolute opposition” to the bill.

Source: Al Jazeera


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Asia Pacific

Beijing ready to pass ‘anti-sanctions’ law against the US and the EU | Source: Asia News

The Standing Committee of the National People’s Congress (NPC) is preparing to pass a law to counter sanctions imposed by other countries on China. Beijing wants to give legal status to its countermeasures against the punitive actions taken against China by the United States, the European Union and their allies.

Source: Asia News


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South Asia

Afghanistan Backs Bigger Role for Pakistan Amid Deepening Cooperation With China on BRI Projects | Source: Sputnik

Afghanistan has committed to “deepening cooperation” with China on Belt and Road Initiative (BRI) projects, during the foreign ministers from Beijing, Kabul, and Islamabad Trilateral Dialogue. The reaffirmation comes against the backdrop of America’s accelerated troop pullout from the region. The US and India have been warning other countries against joining the BRI on account of a range of concerns.

Source: Sputnik


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Asia Pacific

China Hosts Southeast Asian Ministers as It Competes With US | Source: The Diplomat

China is hosting foreign ministers from 10 Southeast Asian nations amid heightened competition between Beijing and Washington for influence in the region. Beijing has been building influence with these countries, despite frictions with some of them over rival territorial claims in South China Sea. The U.S. has expressed concerns over China’s growing presence, particularly its impact on security and Beijing’s political influence over fragile democracies.

Source: The Diplomat


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North America

Joe Biden Bans Investment in Dozens of Chinese Firms | Source: The Wire

U.S. President Joe Biden delivers remarks on the U.S. economy in the East Room at the White House in Washington, U.S., May 10, 2021.

President Joe Biden signed an executive order that bans US entities from investing in dozens of Chinese companies with alleged ties to defence or surveillance technology sectors, a move his administration says expands the scope of a legally flawed Trump-era order.

Source: The Wire


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South Asia

China and Pakistan Ready to Assist Economic Recovery of Conflict-Torn Afghanistan | Source: Sputnik

China and Pakistan have expressed readiness to expand trade exchanges with Afghanistan and assist the country’s peaceful recovery. The statement took place within the framework of the trilateral dialogue mechanism of the foreign ministers of China, Afghanistan, Pakistan created in 2017 at the initiative of Beijing.

Source: Sputnik


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Middle East

Russia’s Lukoil ‘happy’ to resume talks on Iranian projects once US sanctions lifted | Source: S&P Global

Russia’s Lukoil would be “happy” to return to talks on its Iranian oil projects, which were at an advanced stage, once US sanctions on the Middle Eastern country are lifted. Lukoil was in talks with Iran to develop the Ab Teymour and Mansouri oil fields, but had to put plans on hold in late 2018 after the US pulled out of the Iranian nuclear deal and reimposed sanctions on the country’s oil industry.

Source: S&P Global


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