From Breakingviews: The failed mutiny against Russia's Vladimir Putin is a blow for Beijing, while the Chinese economy is weak. The US and its partners should grab any chance to work with China on issues like climate change, says Hugodixon
China remains a threat, notably to Taiwan. So the United States and its allies can’t let their guard down. But the new situation may open up chances to work with China on peace and climate change.
But Russia has had a bad war. Now the failed mutiny by mercenaries led by Yevgeny Prigozhin has made Putin look weak and could help Ukraine fight back. China’s support for Russia, and particularly its demand for oil and gas, may not depend too much on who occupies the Kremlin. But its support for Putin has come at a big cost to its international image.
There’s no magic solution. Debt restructuring will hit economic growth. But delaying the reckoning will store up bigger problems for the future. And in the long run, the economy won’t grow much because the country’s working-age population willInvestors are increasingly worried. In the last two years the yuan has fallen around 12% against the dollar - and the Shanghai Stock Exchange Composite IndexA weaker economy will hold back Beijing’s ability to project power abroad.
At the same time, they can work for the best. This means seeking out opportunities to collaborate on issues of common interest, building on last month’sClimate change is an obvious common problem since China and America are the world’s two biggest greenhouse gas polluters - responsible forand 11% of emissions respectively in 2020. Ideally, they would agree to decarbonise their economies more rapidly - and jointly push the rest of the world to do so too.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NHL free agency live updates: Tyler Bertuzzi, Vladimir Tarasenko among big names availableThe NHL free agent signing period opens at noon ET Saturday and once again, a relatively flat salary cap will play a major role.
Read more »
Americans Who Fought Putin Share ‘Horrifying’ War SurprisesTwo former U.S. troops who fought in Ukraine spoke with The Daily Beast about what they didn’t see coming in Vladimir Putin’s war.
Read more »
WSJ News Exclusive | Putin’s Corporate Takeover of Wagner Has BegunIn the wake of a mutiny that almost reached Moscow, Vladimir Putin is facing a new test—managing one of the most complex corporate takeovers in history.
Read more »