US EditionChina Ready to Walk Away From Xi–Trump Summit Amid Erosion of US Credibility, Say Analysts
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3 Articles
China ready to walk away from Xi–Trump summit amid erosion of US credibility, say analysts
Beijing’s recent moves – wider export curbs on rare earth and other critical minerals, new port fees on American ships, and an antitrust probe into an acquisition by US chip company Qualcomm – mark a sharp reversal from the conciliatory tone it had struck earlier to pave the way for a highly anticipated Xi-Trump meeting at an Asia-Pacific Economic Cooperation (APEC) summit in South Korea later this month Read more at straitstimes.com.
With the APEC summit approaching, China announced an antitrust investigation into US chip giant Qualcomm. This move triggered a strong market reaction, with Qualcomm's stock price falling approximately 4% in pre-market trading. Some analysts believe this is another bargaining chip after China escalated its rare earth export restrictions.
Beijing wants to examine a takeover of the US company Qualcomm. The investigation comes at a critical time - the share price falls.
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