China's "market distortion"

Hi Global Recap readers,

While nations are butting heads with guns and missiles, France and Italy are battling with baguettes.

On Sunday, France showed Italy that it has a bigger stick, cooking the world’s longest baguette at 140.53 meters (461 feet), beating Italy’s 2019 record of 132.63 meters (435 feet).

China & France
Xi pressed by Macron

For the first time in five years, Xi Jinping is finally on the move to meet with European leaders.

The first stop is France.

🤝 Cooperation:

• Xi Jinping emphasized Europe as a priority in China’s foreign policy, advocating for continued partnership despite trade tensions.

• However, Macron called for coordination on global crises and “fair rules” in trade.

📉 Market Distortions: Similarly to Macron, EU’s von der Leyen accused China of creating trade imbalances through state subsidies, leading to oversupply and potential "de-industrialization of Europe." She called this China’s “market distortion.”

Will China address these issues to stimulate export growth in China, or stick to its internal policies?

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Russia
Nuclear tension rises

🚀 Escalation: Russia plans to hold drills simulating the use of battlefield nuclear weapons amid rising tensions with the West.

• The drills are a response to “provocative statements and threats” from Western officials.

• This marks the first public announcement of drills involving tactical nuclear weapons by Russia.

Is this mere nuclear saber rattling or an actual threat?

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Israel
Rafah’s evacuation

🚨 Urgency: Israel’s military has initiated a “limited scope” operation in Rafah, urging civilians to evacuate.

🗡️ Hamas: This comes after Hamas attacked the main humanitarian aid crossing with a rocket and killed Israeli soldiers. Why attack it when it ensures aid for your people?

🏘️ Exodus: The evacuation strategy includes utilizing posters, text messages, phone calls, and media announcements to facilitate the “gradual movement of civilians” to designated humanitarian areas.

• However, the military warns that these areas are not immune to Hamas’s tactics of using them to launch attacks.

🕒 Timeline: No specific timeframe has been set for the evacuation, but operational assessments continue.

• The goal is to relocate approximately 100,000 people from Rafah.

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US & Israel
US halts shipment to Israel

🚫 Halted Shipment: The Biden administration unexpectedly stopped an ammunition shipment to Israel, confusing Israeli officials.

• This move coincides with the Biden administration’s $26 billion aid package to Israel and its warnings against an invasion of Rafah in Gaza.

🛑 Standalone Stance: Prime Minister Benjamin Netanyahu’s recent statement suggests Israel may proceed with the Rafah invasion regardless of US support.

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Brazil
Brazil’s deluge disaster

🌧️ Catastrophe: Southern Brazil’s state of Rio Grande do Sul is grappling with the aftermath of severe rainfall that has led to extensive flooding and a rising death toll. The calamity has claimed at least 78 lives, with over 115,000 people displaced (subject to change).

🛶 Rescue: Amidst the devastation, volunteers have become heroes, using boats, jet skis, and even swimming to save lives.

Is this a strong selling point for climate change initiatives?

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