New G-7 infrastructure plan offers alternative to China Belt & Road

The Group of 7 has announced a new infrastructure funding program that could rival China’s Belt and Road Initiative. One expert says the G-7’s plan offers hope to developing countries but it remains to be seen whether it can match the BRI. On Sunday, the US and the other members of the G-7 including Canada, … Read more

Saudi Crown Prince visit Turkey in major posture change for Erdogan

Turkish President Recep Tayyip Erdogan R welcomes Saudi Arabia’s Crown Prince Mohammed bin Salman Al Saud in Ankara, Turkey, on June 22, 2022. Mustafa Kaya/Xinhua via Getty Images DUBAI, United Arab Emirates — Saudi Arabia’s Crown Prince Mohammed bin Salman has visited Turkey for the first time in years, marking a rapprochement between two of … Read more

Isolated Putin says trade with China and India is increasing

Russian President Vladimir Putin is here seen at during a meeting with Chinese President Xi Jinping weeks before the launch of the unprovoked Russian attack on Ukraine. During the meeting, both countries signed a “no-limits pact” Anadolu Agency | Anadolu Agency | Getty Images In a transparent attempt to end his international isolation after the … Read more

Australia’s leading wine authority to close office in China as exports plunge

Lin Tiangui, a representative of Winston Wine, looks at a bottles of wine produced from Winston Wine’s own Australian winery at one of its stores in Shanghai, China on October 18, 2011. Qilai Shen | Bloomberg | InPictures | Corbis Historical | Getty Images Australia’s leading wine industry body Wine Australia will be closing its … Read more

Former U.S. ambassador says lifting China tariffs could cut inflation

Removing tariffs on imported Chinese goods will strip 1% off inflation in the US over time and return confidence to the economy which could help President Joe Biden at the ballot box, former US ambassador David Adelman says. “Inflation will be No. 1 issue in midterm elections in the US in November,” Adelman told CNBC’s … Read more

These charts show state of supply chain as China eases Covid lockdowns

Zoom In IconArrows pointing outwards The CNBC Supply Chain Heat Map for China, which is gradually easing Covid lockdowns, is showing several hot spots slowing down trade flow in recent days. China’s “zero Covid” measures on trucking and cross-city transport limitations continue to slow down manufacturing and logistics. The decrease in completed manufactured goods is … Read more

Left out of the Indo-Pacific deal, China pushes toward RCEP trade deal

US President Joe Biden, India’s Prime Minister Narendra Modi and Japan’s Prime Minister Fumio Kishida attend the Indo-Pacific Economic Framework for Prosperity (IPEF) launch event at Izumi Garden Gallery in Tokyo, Japan, May 23, 2022. Jonathan Ernst | Reuters Amid the fanfare of US President Joe Biden’s new Indo-Pacific strategy, China flew under the radar … Read more

Israel signs trade deal with UAE, its biggest with any Arab country

Israeli national flags fly alongside United Arab Emirates national flags on the side of a road in Netanya, Israel, on Monday, Aug. 17, 2020. Koby Wolf | Bloomberg | Getty Images DUBAI, United Arab Emirates — Israel and the United Arab Emirates on Tuesday penned a multi-billion dollar free trade agreement, the latest product of … Read more

What is the Indo-Pacific framework, who’s in it, why it matters

US President Joe Biden formally introduced the Indo-Pacific Economic Framework, or IPEF, this week during his first Asia tour, revealing Washington’s long-awaited Asia-Pacific economic strategy. It comes five years after the US unilaterally withdrew from the Trans-Pacific Partnership, a trade deal signed by 12 countries in Asia-Pacific, North America and South America. With the US … Read more

In Asia, economy and security can’t be separated

Australian Prime Minister Anthony Albanese, US President Joe Biden, Indian Prime Minister Narendra Modi and Japanese Prime Minister Fumio Kishida arrive for the Quad Leaders’ Summit in Tokyo on May 24. Saul Loeb | Afp | Getty Images TOKYO — Security deals are important, but in Asia, money talks. Australia, India, Japan and the United … Read more