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Chinese President Xi Jinping speaks at the APEC summit in South Korea, calling for global cooperation
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Xi Jinping urges global cooperation and free trade at APEC summit as Trump departs early

Chinese President Xi Jinping has urged world leaders to strengthen economic globalisation and uphold multilateralism at the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, South Korea — an event notably missed by US President Donald Trump. Xi took the spotlight during the two-day summit, which began on Friday, meeting with several regional leaders while Trump left South Korea a day earlier after signing deals aimed at cooling tensions in the ongoing trade war between Washington and Beijing. “The more turbulent the times, the more we must work together,” Xi said at the opening session. “The world is undergoing a period of rapid change, with the international situation becoming increasingly complex and volatile.” Positioning China as a champion of free trade, Xi warned against protectionist measures and economic decoupling — a veiled criticism of Trump’s “America First” policy and tariff-driven trade […]

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Dow tumbles 1,000 points after China retaliates against Trump’s tariffs

US stocks opened sharply lower Friday after China retaliated against the United States for President Donald Trump’s tariffs in a tit-for-tat that escalates a global trade war. The Dow fell 1,000 points, or 2.5%, and the broader S&P 500 was 2.6% lower. The tech-heavy Nasdaq was 3% lower and flirting with bear-market territory — a decline of 20% from its peak in December. Investors had been fearful that a dramatic escalation of the trade war could plunge the US and global economies into a recession. JPMorgan analysts said Thursday that America’s economy and the broader world economy both had a 60% chance of sinking into a recession this year. The analysts also said odds of a recession would rise if countries began to retaliate against the United States — and China did so Friday. Retaliation raises the risk of further escalation and could […]

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