New World Closes Record $11.2 Billion Loan Refinancing Deal
The company successfully refinanced certain of its existing offshore unsecured financial indebtedness, including bank loans, through a new refinancing term loan facility, it said in a filing to the Hong Kong stock exchange Monday. The developer also said it aligned its other existing offshore unsecured bank loans with the terms of the new refinancing loan.
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17 minutes ago
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Is China waking up to Israel's strategic importance? Beijing rethinks Middle East strategy
An expert analyzes how China is responding to a new set of global challenges. China's growing engagement in the Middle East—heightened by the recent escalation of conflict in Gaza—has drawn significant global attention and speculation. Traditionally, Beijing's regional strategy has focused on securing long-term economic and energy interests: ensuring access to vital energy resources, safeguarding major international trade corridors, and investing extensively in infrastructure, technology, and energy sectors, particularly in the Persian Gulf. Yet, despite these strategic imperatives, China continues to pursue a deliberately ambivalent and multidimensional approach toward key regional actors, most notably Iran and Israel. This carefully calibrated posture reflects broader geopolitical shifts, the erosion of US hegemony, and, above all, the mounting instability across the Middle East—developments that increasingly threaten both regional equilibrium and China's own economic security. Energy and strategic interests Energy security is a central pillar of China's strategic outlook. As the world's largest oil importer, China currently sources around 40% of its oil from the Middle East–a figure expected to double by 2035. This heavy reliance exposes Beijing to acute vulnerabilities should conflict or instability disrupt critical maritime chokepoints such as the Red Sea and the Strait of Hormuz. These strategic routes also account for roughly 60% of China's trade with Europe and Africa, further amplifying the stakes of regional volatility. Beyond energy, China's broader economic footprint in the region—particularly through the global Belt and Road Initiative (BRI)—faces mounting risks. Saudi Arabia, China's largest trading partner in the region, exemplifies this accelerating interdependence: their bilateral trade reached $107.53 billion in 2024, underscoring the rapid deepening of their economic ties. Navigating regional rivalries Alongside its pursuit of undermining the American regional influence and asserting itself as a stabilizing global power, Beijing–long known for its cautious and natural approach–has recently adopted a more pragmatic, proactive stance in the diplomatic arena. This shift reflects a delicate balancing act and the adaptation of a flexible, well-calibrated strategy, aimed at maximizing the value derived from diverse strategic partnerships while carefully avoiding alienating any particular state or favouring one over another. China's sophisticated manoeuvring between rival actors and competing regional interests—exemplified by its concurrent cooperation with Saudi Arabia, whose Crown Prince's global ambitious vision, "Vision 2030," is being advanced in tandem with China's Belt and Road Initiative (BRI). This occurs despite its deepening ties with Iran and opposition to its nuclear program and while simultaneously leading diplomatic efforts and negotiations with both the United States and Arab leaders, aimed at promoting a ceasefire and preventing further security escalation in the Middle East. Furthermore, China draws a clear distinction between declarative rhetoric and operational conduct, as well as between political confrontations and broader systemic interests. These distinctions enable it to uphold the principle of non-intervention—avoiding direct political or military involvement—while simultaneously continuing to lead a critical discourse that includes sharp condemnation of Israel and its military policies, alongside consistent support, on the other hand, for the Palestinian and Iranian positions. The Israel-Iran conflict: A critical turning point However, a closer look reveals that the recent direct confrontation between Iran and Israel, which erupted in June, along with US military strikes on Iranian nuclear sites, has triggered a significant shift in China's perception of both actors. This shift is already challenging its previously neutral stance, testing its relationships with regional states and its ability to navigate among them. Moreover, this development increases China's dependence on oil powers, intensifying its need to diversify energy sources and alternative trade and supply routes, including diversified engagements with Central Asian states. Alongside its commitment to invest approximately $400 billion in the development of critical infrastructure across Iran, including the establishment of logistical corridors and the strengthening of security and economic cooperation as part of the BRI project, Beijing is simultaneously cultivating economic and strategic partnerships with Israel, primarily in the fields of high-tech, innovation, and science. Recent reports indicate that bilateral trade volume between China and Israel reached $16.27 billion in 2024, compared to $14.56 billion in 2023. Furthermore, in May of this year, Chinese exports to Israel totalled $1.45 billion, while imports from Israel reached $1.7 billion–figures that reflect Israel's rising significance in Beijing's calculations. Moreover, alongside efforts to restore Iran's military capabilities and renew its missile systems damaged during Israeli and American strikes, China—having for the first time adopted a relatively moderate and conciliatory stance toward Israel—simultaneously directed sharp criticism at the Iranian leadership, accusing it of ideological dogmatism and adherence to an extreme political position. From Beijing's perspective, the conflict with Israel has demonstrated that Iran—significantly weakened—is no longer keeping pace with global developments, and that the so-called 'Axis of Resistance,' including the network of proxies it has cultivated across the Middle East over the years, is gradually fracturing. Senior Chinese scholars have even suggested that the Ayatollah regime, now perceived as teetering on the brink of collapse, no longer serves the strategic interests of China's leadership in the region. Strategic adjustments Recently, voices in Israel are increasingly calling for a reassessment of relations with China, despite constraints imposed by the United States. This presents an opportunity to adopt a new, pragmatic foreign policy approach—one that advances Israel's interests in China, across Asia, and more broadly among countries of the 'Global South.' At the same time, it could help integrate China into initiatives aimed at promoting stability in the Middle East, including the future rehabilitation of the Gaza Strip. All of this is especially relevant today, amid mounting global criticism of Israel, the renewal of nuclear talks with Iran, and the unpredictable foreign policy of the President of the United States. From a broad geopolitical and strategic perspective, it is already becoming apparent that even a partial or limited shift in China's stance toward Israel constitutes an important diplomatic signal—one that could eventually lead to a significant strategic turning point. Beyond the inherent advantages of strengthening bilateral ties and expanding Beijing's role as a mediator between regional adversaries, deeper Chinese involvement could help restrain Iran or, at the very least, counterbalance its negative influence while reducing the risk of regional security escalation. In addition, recognition from China could enhance Israel's prestige and global image—not only as a member of the American-Western bloc and a close ally of the United States, but also as a powerful and legitimate actor on the international stage. Strengthening ties between the two countries could lead to diversification and expansion of investments and partnerships in fields such as technology, innovation (AI), agriculture, and healthcare. This would boost Israeli exports to China's vast market and help position Israel as a regional power. Furthermore, closer relations and a more balanced approach to the Israeli-Palestinian conflict could influence other countries in the Global South and improve Israel's standing in their eyes. China's real politics Looking from a broad Chinese vantage point, it is evident that China's diplomatic pivot is a sophisticated and calculated move—another layer in its global geopolitical strategy. Beyond expanding its political and economic influence in the Middle East, strengthening ties with Israel is expected to help China position itself as a responsible, moderate, and balanced global power—one capable of acting as a potential mediator in other regional and international conflicts (such as the dispute between Hamas and the Palestinian Authority, the fight against the Houthis, and the war between Russia and Ukraine). Through this initiative, China seeks to establish its own network of bilateral and multilateral relationships that will grant it geopolitical flexibility, reduce its dependence on any single country, and enhance its status and image on the international stage. Although this shift may provoke opposition from Iran and other Muslim countries—as well as Western criticism regarding the disruption of the regional balance of power—the success of the move largely depends on how China chooses to frame its new policy. If Beijing emphasizes its pragmatic stance and clarifies that it does not aim to create a new regional security order or to replace the United States in the region, it could profoundly reshape the Middle East landscape, contribute to the regional and global geopolitical balance. Solve the daily Crossword
Yahoo
2 hours ago
- Yahoo
China welcomes 183 Brazil coffee sellers in wake of US tariffs
By Ana Mano SAO PAULO (Reuters) -China has approved 183 new Brazilian coffee companies to export products to the Chinese market, according to a social media post of the Chinese embassy in Brazil on Saturday. The measure, a boon to local exporters after the United States government's announcement of steep tariffs on Brazilian coffee and other products, took effect on July 30. The new Chinese export permits are valid for five years, according to the post. The U.S.'s 50% tariff on some Brazilian products will begin on August 6. The levy represents a challenge for commodities traders and Brazilian coffee exporters, who need to find alternatives for the roughly 8 million bags sold to U.S. coffee processors every year. China is Brazil's top trade partner overall while the U.S. is a big buyer of Brazilian beef and orange juice, among other products. In June, Brazilian coffee exports into the U.S. totaled 440,034 60-kilo bags, 7,87 times more than Brazil's sales into China of nearly 56,000 bags that month, according to trade data compiled by industry lobby Cecafe. The Brazilian ministry of agriculture and Cecafe did not have an immediate comment. China's customs authority could not be immediately reached as it was outside the business hours. Brazil supplies about a third of the U.S. coffee demand each year, a trade valued at $4.4 billion in the 12 months ended in June. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
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Trump's ‘Buy 3, Not 30' Comment Is Actually Smart Budgeting Advice — Here's Why
In May of this year, as President Donald Trump was rolling out his controversial tariff policies against America's trade partners, he received a great deal of criticism from economists and consumers alike over fears his tariffs would drastically increase prices of goods (especially those imported from China). Critics of Trump's trade policy even noted that children's toys and dolls would increase in price. The president's response was, to put it fairly, typically blunt. Check Out: For You: 'I don't think that a beautiful baby girl needs — that's 11 years old — needs to have 30 dolls,' Trump declared on the May 4 episode of NBC's Meet the Press, noting that if dolls become more expensive, simply buy less dolls. 'I think they can have three dolls or four dolls because what we were doing with China was just unbelievable. We had a trade deficit of hundreds of billions of dollars with China…I'm just saying they don't need to have 30 dolls. They can have three. They don't need to have 250 pencils. They can have five.' While there is an irony to a billionaire — one famous for his lavish wealth and a penchant for 24-carat gold decor — suggesting working-class Americans should refrain from buying multiple toys for their children, and should instead purchase such things in moderation, there is a sound objective truth to Trump's statement. Americans Spend Nearly $6,000 on Children's Toys Over a Lifetime Per The Guardian, the average American family spends $600 yearly on toys; that's approximately $6,000 over the course of a decade of childhood. That's $6,000 not being spent on medical care, college savings or family bills. That's a staggering amount of money for toys, and likely far too many for a child to focus upon and totally enjoy. That isn't a political stance, either — whether one loves or hates President Trump, the assertion that a child can enjoy three dolls rather than 30 is not only likely true, it's sound financial advice. I Asked ChatGPT To Explain TRUMP Crypto to Me Like I'm 12: As self-made millionaire and CEO of Crush Your Money Goals Bernadette Joy wrote for CNBC, when she was previously $300,000 in debt, her problem was not that she didn't make enough money — it was that she overspent on things that were not needed. She specifically called out children's toys as one of the six things she spent far too much on. 'I've seen parents spend hundreds, sometimes thousands, on toys that their kids lose interest in within weeks,' she noted. 'Less is more. Rotate toys instead of buying new ones, and prioritize experiences over stuff.' While, yes, Trump is a deeply divisive figure, and his advice for moderation with regards to spending should be taken with a grain of salt, his advice in this case actually does align with the recommendations of money experts such as Joy. Further, at a time when inflation is high, and America's economic stability is uncertain, spending in moderation is always good advice. More From GOBankingRates Mark Cuban Says Trump's Executive Order To Lower Medication Costs Has a 'Real Shot' -- Here's Why This article originally appeared on Trump's 'Buy 3, Not 30' Comment Is Actually Smart Budgeting Advice — Here's Why
