CHINA - The US and China are on a path towards "conflict and confrontation" unless the US changes course, Chinese Foreign Minister Qin Gang warned Tuesday at a press conference. Why it matters: Tensions between China and the US, which spiked in 2022, soured further last month after a high-altitude surveillance balloon sent by the Chinese government was discovered flying over the US.
USA - CIA Director Bill Burns said that he is "confident that the Chinese leadership is considering the provision of lethal equipment" to Russia in its war against Ukraine. Driving the news: "We also don't see that a final decision has been made yet, and we don't see evidence of actual shipments of lethal equipment," Burns told CBS News.
CHINA - China's government called for a cease-fire between Russia and Ukraine and for the start of peace talks to end the yearlong war. Driving the news: The Chinese Foreign Ministry made the call in a 12-point plan issued on Friday morning local time. "All parties should support Russia and Ukraine in working in the same direction and resuming direct dialogue as quickly as possible, so as to gradually deescalate the situation and ultimately reach a comprehensive ceasefire," the foreign ministry said in its plan.
CHINA - China's military, economic and political ties with a weakened Russia a year after Vladimir Putin's invasion of Ukraine continue to deepen, even as Beijing presents itself to the West as a responsible global leader working toward peace. China has cultivated an important strategic partnership without itself becoming an international pariah — an approach that is likely to continue as the war drags on.
RUSSIA - Russian President Vladimir Putin presided over the launch of a major new Siberian gas field on Wednesday to help drive a planned surge in supply to China. The Kovykta gas field will feed into the Power of Siberia pipeline carrying Russian gas to China. With recoverable reserves of 1.8 trillion cubic metres, it is the largest in eastern Russia. The launch is part of Russia's strategy to shift gas exports to the east as the European Union cuts reliance on Russian energy in response to the war in Ukraine.
But sales of Chinese branded passenger cars, including Haval, Chery and Geely have surged, rising to 16,138 units in November, almost double the 8,235 in January, while market share reached 31.3 percent from 9.6 percent, data from Russian analytical agency Autostat showed.
"There is little production of Western car brands and few imports, so the market is divided between the Russian and Chinese car industries," Russian automotive analyst Vladimir Bespalov told Reuters.
CHINA - China is paying the deepest discounts in months for Russian ESPO crude oil amid weak demand and poor refining margins even though the effective prices refiners pay could exceed a price cap imposed this week by Western countries. The $60 per-barrel cap, set by the Group of Seven (G7)nations, the European Union and Australia, took effect on Monday to limit Moscow's power to finance its war in Ukraine, though Russia has vowed to defy it.
GERMANY - German Chancellor Olaf Scholz has said China will face unspecified sanctions if it meddles in the Ukrainian conflict and offers military assistance to Russia, even as European officials admit they have yet to see any evidence that Beijing intends to do so. “I think it would have consequences, but we are now in a stage where we are making clear that this should not happen,” Scholz told CNN during his brief visit to Washington, when asked if Germany would sanction its biggest trade partner China.
USA - Catherine Austin Fitts (CAF), Publisher of The Solari Report, financial expert and former Assistant Secretary of Housing, says the Central Bank Digital Currency (CBDC) is much easier said than done. There is a monster fight behind the scenes between commercial banks and central banks. CAF explains, “You have bubbled an entire economy, and now you are bringing out something (CBDC) that could shrink the bubble dramatically, and it can put a lot of banks out of the game and out of the business.
SWITZERLAND - It seems as if not a generation goes by when some megalomaniac does not rise to proclaim, “If only the world does exactly as I demand, I will deliver you paradise here on Earth.” Usually, these same narcissists go down in history remembered as either vainglorious buffoons or bloodthirsty tyrants — often both.
CHINA - The conflict in Ukraine will spin out of control if a peace process does not start soon, Chinese Foreign Minister Qin Gang has said. The fighting between Russia and Ukraine has reached a “critical juncture,” Qin stated during his annual press conference in Beijing on Tuesday. “There will either be cessation of hostilities, restoration of peace and a move towards political settlement, or fuel will be added to the fire, the crisis will expand, and the situation will get out of control,” he warned.
USA - The Boeing Company is outsourcing nearly 700 white-collar American finance and human relations jobs to Bengaluru, India while securing millions more in United States tax dollars through congressionally-approved spending packages to support Ukraine in its war with Russia. Last month, reports confirmed that Boeing is laying off roughly 2,000 American employees doing financial and human resources (HR) work. Almost 700 of their jobs will be outsourced to India through the multinational corporation’s contract with Tata Consulting Services (TCS), an outsourcing firm based in India.
USA - Is this really so shocking? Yes, when I was growing up I would drink water directly from the garden hose that was used to water the lawn. In fact, kids all over America would drink water directly from a garden hose in the old days. It wasn’t a big deal.
EUROPE - The EU is conducting a “food war” against traditional Western dietary habits, according to Polish Deputy Agriculture Minister Krzysztof Cieciora. The remarks came after a European Commission ruling in January approved the use of house crickets in food. Appearing on Poland’s Radio Lodz on Friday, Cieciora alleged that EU officials “are trying to change trends,” and argued that their recent decision represented “a battle” and “a food war.”
ISRAEL - On Friday, dozens of Israeli pilots — reservists who remain engaged in active service — met with the head of the Israel Air Force to raise burning concerns over the direction the governing coalition is taking Israel, and the consequences for their vital, ongoing role in the country’s defense. Noting that they represent hundreds more pilots across the IAF, they told him they felt the need to stress something that should not need stressing — that they will refuse to carry out illegal orders.
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