China

• China’s yuan seen as ‘new choice’ for RCEP, may match pound and yen in 10 years, report says
  Bank of China report says more than 90 per cent of domestic and foreign firms believe ‘strongly’ using the yuan could steady trade within the Asia-Pacific region as Beijing presses on to increase global use for the currency.
• US accused of using international law to provoke China after latest Taiwan Strait incident
  One Chinese analyst said the PLA had ‘no choice’ but to act after a close encounter between two warships that the US attacked as ‘unsafe and unprofessional’
• Construction work at Hong Kong public housing estate stops as emergency exit at MTR station sinks by 20mm
  Passengers assured rail operations safe and unaffected but measures will be put in place to ease problem.
• Citi CEO Jane Fraser joins likes of Elon Musk, Jamie Dimon in visiting China after its reopening
  Fraser expressed ‘full confidence in China’s economic and financial development’ and pledged to expand business in the country, the National Administration of Financial Regulation said.
• Democrats’ disastrous US debt ceiling deal snatches defeat from jaws of victory
  The result of Joe Biden and Democrats negotiating with Republicans is an appalling act of political surrender and an abandonment of progressive principles. Worse, bargaining away their leverage over a divided opposition did nothing to prevent a similar crisis in the future.

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