North Korean leader Kim Jong-un plans to travel to Russia and meet with President Vladimir Putin this month, the New York Times and Associated Press reported on Monday, citing US and “allied” officials.
According to the NYT, Kim intends to travel to the city of Vladivostok, on Russia’s Pacific Coast, “probably by armored train,” where both leaders would attend the annual Eastern Economic Forum (EEF), scheduled for September 10-13, adding that Kim plans to visit a Russian naval base. Neither Moscow nor Pyongyang have commented on the matter. Kim, who rarely leaves the country and mostly travels by train, last met with Putin in Vladivostok in 2019. Russian Defense Minister Sergey Shoigu made a surprise visit to Pyongyang in July, where he and Kim attended a military parade, marking the 70th anniversary of the end of the 1950-1953 Korean War. Shoigu later said that Moscow was open to holding joint drills with North Korea. Shoigu also delivered “a personal message” from Putin to Kim, according to the Kremlin. North Korean leader Kim Jong-un plans to travel to Russia and meet with President Vladimir Putin this month, the New York Times and Associated Press reported on Monday, citing US and “allied” officials. According to the NYT, Kim intends to travel to the city of Vladivostok, on Russia’s Pacific Coast, “probably by armored train,” where both leaders would attend the annual Eastern Economic Forum (EEF), scheduled for September 10-13, adding that Kim plans to visit a Russian naval base. Neither Moscow nor Pyongyang have commented on the matter. Kim, who rarely leaves the country and mostly travels by train, last met with Putin in Vladivostok in 2019. Russian Defense Minister Sergey Shoigu made a surprise visit to Pyongyang in July, where he and Kim attended a military parade, marking the 70th anniversary of the end of the 1950-1953 Korean War. Shoigu later said that Moscow was open to holding joint drills with North Korea. Shoigu also delivered “a personal message” from Putin to Kim, according to the Kremlin.
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2023 FORMULA 1 WORLD CHAMPIONSHIP CONSTRUCTOR STANDINGS
Germany’s economic output will shrink this year, amid weak demand from abroad, soaring interest rates, and a protracted energy crisis, the latest forecast from the German Economic Institute (IW) revealed.
The economy is in a state of a “shock,” according to the IW, with businesses particularly affected by geopolitical uncertainties arising from the conflict in Ukraine. German companies and industries will “feel the global problems all the harder” this year due to scarcity and surging prices of raw materials and energy, the economists warned. Sluggish global trade and weak demand will result in lower-than-expected gross domestic product for the EU’s largest economy. It’s predicted to slump by almost 0.5% compared to last year, while unemployment will reach 5.5%, the report said. Inflation has remained high since the start of the year and is likely to stay at around 6.5%, weighing on consumer spending. “ The government urgently needs to take action to end this economic downturn,” the head of the macroeconomic and the Business Cycle Research Unit at the IW, Professor Michael Gromling, said. “Lower tax burdens and attractive and un-bureaucratic support for innovation and investment would help companies cope better with the current shocks,” he added. Economic sentiment in Germany has suffered from the effects of fiscal tightening, such as increased production costs and high interest rates. Investments have become less attractive for companies, with the construction sector among the worst-hit, data showed. Investments in home building are expected to fall by 3% this year.
2023 Formula 1 World Championship Drivers' Standings
Hawkish US Secretary of Commerce Gina Raimondo has recently undertaken an official visit to China. She is the fourth such US official to visit in the past few months, marking a stabilization – but not a breakthrough – in ties between the two powers. Here, she berated China for making its market “uninvestable” for US firms and called “on Beijing to act to reduce the risk of doing business in the country.”
This is ironic for too many reasons to list. The most obvious one is that the Biden administration recently released restrictions on US inbound foreign investment into China’s high-tech industries, including semiconductors, quantum computing, supercomputing and artificial intelligence. Although the measures are considered narrow, they are nonetheless the opposite of confidence-inducing, as Republican critics have already argued they are not enough and have demanded they be widened. This in itself tells a story about America. China isn’t making itself ‘uninvestable’; the US is doing it by deliberately creating a toxic geopolitical environment. The US does not want to see inbound investment into China and – through the stroking of tensions and military uncertainties – is heightening the risks of such investments. This makes Raimondo’s trip to Beijing immensely hypocritical. Washington’s narrative on China, peddled through compliant media, is that Beijing is primarily responsible for scaring foreign investors away due to its increasing centralization under the rule of Xi Jinping. China is being described as isolationist, rigid, unreasonable and ‘in decline’ and accused of ‘unfair’ economic practices. If only Beijing would open up more and let all these investors in, right? Everything would be fine, and the US-China economic relationship would get back on track, wouldn’t it?Possibly, but only if the US had not: 1) Placed hundreds of billions of dollars in tariffs on Chinese exports, which it refuses to remove, even with high levels of inflation; 2) Opportunistically blacklisted products from entire regions of China, such as Xinjiang, on the premise of ‘human rights abuses’; 3) Put Chinese technology companies on the commerce department ‘entity list’ prohibiting US companies from exporting to them, then blacklisted the entirety of China’s semiconductor industry and forced third-party countries to do the same. On top of all the sanctions, the US is deliberately militarizing China’s entire periphery with military bases and stoking up tensions with Taiwan, capitalizing on global uncertainty following the Ukraine war. Last but certainly not least, the mountain of news articles and commentary demonizing, attacking, accusing and doom-mongering about China grows every single day. Can the US honestly say with a straight face amidst all this that it is China who is scaring away investors? Sure, as this global environment has deteriorated, Beijing has tightened its control, and the ruling party engages in harsh regulatory crackdowns against a number of companies, which hardly creates an investment-friendly environment, but that’s a product of the insecurity being driven by tensions. So when officials like Raimondo visit China and complain the conditions are unfavorable for US businesses, the level of hypocrisy borders on extreme, when Washington itself has done more than anyone else to undermine trust in Beijing. But if that is so, why should she even complain about it? The answer is because the US does not want to have an equal economic relationship with China. Washington’s ideal relationship with Beijing is one in which it gets full access to the Chinese market and gets to sell it anything it wants, not where Chinese companies are able to compete fair and square on a global scale. This is the same level of subordination it has long sought to impose on Europe, where, for example, it is casually destroying German industry by forcing its decoupling from Russian resources, selling overpriced gas and then using protectionism through the “inflation reduction act” to disincentivise production. The US wants to economically dominate China; that’s the only “investment” it has in mind and is primarily why visits like Raimondo’s never truly make any headway and are a waste of time. Max Verstappen writes history on Sunday at the Italian Grand Prix in Monza, Italy. The 25-year-old won his tenth race in a row, breaking the record for most wins in a row in F1 history.
Verstappen started the race a bit sluggish, with Carlos Sainz of Ferrari taking top spot at the start. It took the reigning champion 15 laps to get past the Spaniard. Verstappen had already told his team after six laps that Sainz’s tires were sliding as he bided his time. However, the driver from Hasselt was having his patience tested as he said, “They have a lot of top speed, for f*** sake.” This came after Charles Leclerc had started to get close to Verstappen, with both Ferrari drivers keeping Verstappen on his toes. Once Verstappen took the lead, it was clear to all involved that he would not be caught. He made the gap 5 seconds within just a lap after taking the lead. He did have to retake the lead on one occasion in the race due to Red Bull calling him in for a pitstop. It was not long until Verstappen had retaken the lead of Lewis Hamilton of Mercedes. Verstappen had equaled Sebastian Vettel’s record for most wins in a row last week in Zandvoort. Verstappen’s run of wins started at the US Grand Prix in Miami on May 7th. After that, he won in Monaco, Spain, Canada, Austria, Great Britain, Hungary, Belgium, Netherlands and now Italy. It was another one-two for Red Bull as Sergio Perez finished second, with Carlos Sainz giving the largely Ferrari-supporting crowd some joy by finishing third. Verstappen has 365 points now and is close to his third championship.
FORMULA 1 PIRELLI GRAN PREMIO D’ITALIA 2023 - Race Results
FORMULA 1 PIRELLI GRAN PREMIO D’ITALIA 2023 - Top 10 Qualifying Results
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