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Analysis-China draws 'red lines' around its economic model ahead of EU, US trade talks

Analysis-China draws 'red lines' around its economic model ahead of EU, US trade talks

By Claire Fu, Kevin Yao and Liangping Gao SINGAPORE/BEIJING, Aug 3 (Reuters) - China is energetically defending its economic policy mix that favours advanced industries over consumption, adopting a posture analysts see as demonstrating increasing confidence ahead of looming trade talks with Europe
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Xi Jinping Orders Chinese Military to Accelerate Drone and AI Development Amid U.S. Competition

Xi Jinping Orders Chinese Military to Accelerate Drone and AI Development Amid U.S. Competition

Chinese President Xi Jinping has directed the People's Liberation Army (PLA) to expedite the integration of drones and artificial intelligence into its operations. This move is part of China's broader strategy to modernize its military capabilities and address concerns about technological competition with the United States. During a speech to military leaders, Xi emphasized the importance of incorporating AI and autonomous systems into combat operations, highlighting the potential of these technologies to transform modern warfare. The directive comes as the PLA approaches its 100th anniversary in 2027, a milestone by which significant advancements in military modernization are expected.
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Peru's new foreign minister eyes stronger US ties as Fujimori takes office

Peru's new foreign minister eyes stronger US ties as Fujimori takes office

By Marco Aquino LIMA, July 31 (Reuters) - Peru will deepen its relations with the United States, which it sees as a "strategic partner," newly-appointed Foreign Minister Carlos Espá said on Friday.    
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Analysis-Tariff provisions could doom long-awaited Russia sanctions bill

Analysis-Tariff provisions could doom long-awaited Russia sanctions bill

By Andrea Shalal and Patricia Zengerle WASHINGTON, July 31 (Reuters) - A Russia sanctions bill championed by the late Senator Lindsey Graham faces a tough road in Congress as Democrats and some Republicans raise concerns about new trade powers the legislation would grant President Donald Trump.
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Tariff provisions could doom long-awaited Russia sanctions bill

Tariff provisions could doom long-awaited Russia sanctions bill

(Refiles to correct spelling to Mayur Patel not Mahur Patel, paragraph 17) By Andrea Shalal and Patricia Zengerle WASHINGTON, July 31 (Reuters) - A Russia sanctions bill championed by the late Senator Lindsey Graham faces a tough road in Congress as Democrats and some Republicans raise concerns
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Stocks set for weekly gain after tech earnings soothe AI fears, yen retreats

Stocks set for weekly gain after tech earnings soothe AI fears, yen retreats

By Niket Nishant and Rae Wee July 31 (Reuters) - A late-week rally in global shares left them on track for weekly gains after earnings from some U.S. tech giants eased concerns about AI returns, while the yen declined after the Bank of Japan kept interest rates unchanged on Friday.
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Ukraine hit an Iranian ship. Will it lead to wider US-Middle East war?

Ukraine hit an Iranian ship. Will it lead to wider US-Middle East war?

Ukraine’s ambassador to the United States says Kyiv has no interest in merging its war against Russia with the U.S. conflict in Iran after drone hit.
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Trump orders restrictions on export of critical minerals scrap, White House officials say

Trump orders restrictions on export of critical minerals scrap, White House officials say

By Jacob Bogage WASHINGTON, July 30 (Reuters) - U.S.
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US bars imports from 43 more companies over China's alleged forced labor involving Uyghurs

US bars imports from 43 more companies over China's alleged forced labor involving Uyghurs

By Karen Freifeld WASHINGTON, July 31 (Reuters) - The United States on Friday banned imports from 43 more companies over alleged human rights abuses of Uyghur and other minority groups, including Hunan Aihua Group, one of China's largest capacitor manufacturers, according to a government posting.
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Explainer-What is AI model distillation and why is it becoming a US-China flashpoint?

Explainer-What is AI model distillation and why is it becoming a US-China flashpoint?

By Eduardo Baptista BEIJING, July 31 (Reuters) - A technique that allows developers to shrink powerful artificial intelligence models into cheaper, more efficient systems has become the latest battleground in the intensifying U.S.-China race for AI dominance.
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Stocks surge, yen awaits BOJ presser after intervention boost

Stocks surge, yen awaits BOJ presser after intervention boost

By Rae Wee SINGAPORE, July 31 (Reuters) - Asian markets rallied hard with Wall Street on Friday as South Korea's battered market made a record comeback, stirring hopes that a recent rout in AI-related stocks had run out of steam.
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Washington's Strategic Investments in Critical Minerals to Counter China

Washington's Strategic Investments in Critical Minerals to Counter China

The US government has taken significant steps to reduce dependency on Chinese critical minerals by investing in domestic companies. The Pentagon has become a major shareholder in MP Materials and has set a price floor for neodymium-praseodymium oxide, encouraging private investment. The US has also launched Project Vault, a $12 billion initiative to stockpile critical minerals. These efforts aim to secure supply chains and reduce geopolitical risks associated with China's dominance in the sector.