Car parts chief warns of job losses from ‘Darwinian’ competition in Europe

Chinese President Xi Jinping spoke with former U.S. President Donald Trump over the phone, focusing on Taiwan and the state of bilateral relations between China and the United States. This conversation comes amid ongoing tensions regarding Taiwan's status and its implications for international relations.

The European Union (EU) and the African Union are commemorating 25 years of diplomatic relations with a summit in Angola aimed at enhancing economic cooperation between the two regions. This initiative comes as the EU seeks to strengthen its trade ties with Africa amidst growing competition from China and the United States.

Japan is attempting to reclaim its status as a global leader in semiconductor manufacturing by transforming its 'island of flowers' into a chip hub, a move driven by its historical dominance in the sector. However, Japan has fallen behind competitors like Taiwan, South Korea, and China, raising concerns about its ability to compete effectively in the global market.

A critical pricing mechanism for the global copper-processing industry is under significant pressure as negotiations intensify amid high geopolitical tensions and limited metal supplies, particularly influenced by China's dominant position in the market.

US stock futures rose following a week of volatility, driven by optimism surrounding potential interest rate cuts from the Federal Reserve and news that US officials may permit Nvidia Corp. to sell AI chips to China. This positive sentiment contrasts with previous declines in technology stocks, particularly in Asia, where concerns about an AI bubble have persisted.

The UK government has launched a critical minerals strategy aimed at reducing its dependency on China, particularly in the supply of essential materials like rare earths and magnets crucial for various industries, including automotive and electronics. Prime Minister Keir Starmer emphasized the need for resilience against global supply chain shocks.

China's nuclear power market is projected to undergo significant changes as the country navigates its investment landscape amid broader economic challenges. The outlook indicates a potential shift in energy strategies, reflecting the government's commitment to expanding its nuclear capabilities.

Australia and China are facing renewed tensions as disputes over rare earths and iron ore escalate, potentially leading to a trade war. This situation arises amid ongoing negotiations and market dynamics that have seen China impose restrictions on Australian mineral imports, reflecting a broader geopolitical struggle.