(CHINA’S TENTACLES OF INFLUENCE ARE GROWING IN SOUTH PACIFIC ISLANDS & IN LATIN AMERICA)
November 15, 2024
Hello everyone
Building a multipolar world
Chinese President Xi Jinping has moved to gain more economic allies across the Asia- Pacific after arriving at a regional summit in Peru with a pledge to build a “multipolar” world, seizing on growing anxiety about the rise of Donald Trump to the United States presidency.
The message highlights China’s growing power at the Asia-Pacific Economic Co-operation summit when the country is investing billions of dollars across the region, challenging the US for primacy.
Xi comments that “the world is undergoing faster transformation unseen in a century…and humanity has again come to a crossroads in history.”
While Xi did not name Trump, his statement comes as APEC leaders prepare for the incoming US president to act on his vow to impose 60 per cent tariffs on China and 20 per cent tariffs on other countries.
Australia’s Prime Minister, Albanese, said the Chinese investment would be an opportunity for Australia.
But JP Morgan Chase chief executive, Jamie Dimon, (who was also at the summit) sent out a warning signal of the challenges facing Trump when he assumes office on January 20.
“The most important thing is, whoever had been elected…they are entering and could be responsible for the most complicated geopolitical, military and geo-economic situation that the world has faced since World War II.”
On the sidelines of Xi’s visit – and after five years of construction - Xi will have the honor of inaugurating a massive deep-water port in the Peruvian coastal town of Chancay that is set to redefine trade between China and Latin America. At a cost of $3.5 billion, state-owned China Ocean Shipping Company Limited (COSCO) developed one of China’s most high-profile and controversial infrastructure projects.
QI CORNER
PORTFOLIO REVIEW
(For subscribers who own the stock)
Take profits in XPENG (XPEV) STOCK.
SELL THE STOCK.
We bought Xpeng (XPEV) at $ 10.05 on March 15, 2024
We are now selling the stock at $ 12.63 or best price on November 15, 2024.
Trump’s policies and China’s economic issues cloud the future earnings potential of the EV maker. Better to take the money off the table.
Profit = $2.58 or 26.16%
CURIOUS QUESTION CORNER
What creature do scientists think will rule Earth should all humans die?
Answer in Monday’s Post.
Cheers
Jacquie
