China says the US has "severely violated" their trade truce and will take strong measures to defend its interests.
China on Monday said the Trump administration is undermining the temporary May 12 trade agreement between the two nations by issuing AI chip export control guidelines, stopping the sale of chip design software to China and by planning to revoke Chinese student visas.
-- CBS News (@cbsnews.com) June 2, 2025 at 9:26 AM
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@#5 ... Thanks to the incompetence of our current Administration, China definitely has a tactical advantage. ...
Yup. And China looks to be truning that tactical advantage into a strategic advantage.
Like laying the foundation to bypass the US SWIFT system for global trading.
Dollar in Danger? China's Digital Yuan to Bypass 38% of Global Transactions Dominated by US System
infobrics.org
... Bypassing the US-dominated infrastructure for global trade, the People's Bank of China reportedly announced connecting 10 ASEAN and Middle Eastern nations, mitigating the need for the US-based SWIFT system for international trade in these regions.
The Digital Yuan, called Digital RMB, connected 10 ASEAN (Association of Southeast Asian Nations) consisting of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam, and six Middle Eastern nations, including the UAE.
This undercuts SWIFT (Society for Worldwide Interbank Financial Telecommunications), the US-based system for international trade transactions. ...
And what is Pres trump doing to counter this? Lowering global confidence in the US?
@#9
Along those lines ...
China lifts suspension on five Brazilian soy exporters ahead of Lula visit (May 8, 2025)
www.reuters.com
... China, the world's largest soybean buyer, has lifted restrictions for Brazilian soybean shipments from five firms previously suspended over phytosanitary concerns, the Brazilian government confirmed on Thursday.[emphasis mine]
Earlier, Reuters reported, citing a source familiar with the matter and Chinese customs data, that China had resumed imports from the firms. ...
Brazil is the world's largest soybean producer and exporter, and the top supplier to China as the trade war drives Beijing to diversify away from the U.S., its second-largest supplier. ...
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