Kim Jong Un declared North Korea's unstinting “friendship, unity and cooperation” with Beijing during his third visit to China this year, in a show of loyalty to his main ally following a landmark summit with US President Donald Trump.
While the world watches the summit between president Donald Trump and Kim Jong Un unfold, another significant event will take place elsewhere in Asia. On June 12 in Taipei, Taiwan and the US will jointly mark the establishment of a new facility for the American Institute in Taiwan (AIT), the US’s de facto embassy in the country. Politicians from both nations are attending a ceremony to commemorate the US$ 250 million complex, which will open formally later this year.
A pilot whale has died off southern Thailand after swallowing 80 plastic bags, Thai marine officials say. The whale vomited five bags during a vain attempt by conservation officials to save it in a canal in Songkhla province.
More than 120 pregnant whales were slaughtered in the latest Japanese whale hunt in Antarctica's Southern Ocean, new documents show, reigniting calls to step up efforts to stop the annual killing spree. A further 114 immature whales were killed as part of the so-called “scientific” whaling program, according to meeting papers from the International Whaling Commission's scientific committee meeting this month.
Foreign banks and funds are set to benefit from a move by U.S. regulators to simplify a trading rule that foreign banks and regulators say has inadvertently complicated firms operating as far afield as Europe and Asia. The Federal Reserve, alongside other U.S. regulators, on Wednesday proposed rewriting the “Volcker Rule” introduced following the 2007-2009 financial crisis in a bid to simplify the regulation and make it easier for banks to comply.
Argentina is set to expand fresh beef exports to Asia, with Japan and China having already approved import deals, the country's agriculture minister said. Luis Miguel Etchevehere in Tokyo said that Argentina has signed a deal with the Japanese government under which Tokyo will authorize imports of fresh beef from Argentina by late July. His country has also inked a beef export agreement with Beijing.
Chinese President Xi Jinping discussed plans to further open up the Chinese economy during a Tuesday address. Those measures included significantly lowering import tariffs for autos, decreasing duties on other products, enforcing the legal intellectual property of foreign firms and improving the investment environment for international companies.
China revealed on Monday that it will raise its military budget by US$ 175 billion for the 2018 fiscal year, 8.1% increase that is the largest military spending hike in three years. According to Premier Li Keqiang, the additional funding will “advance all aspects of military training and war preparedness, and firmly and resolvedly safeguard national sovereignty, security, and development interests.”
After last week's global rout, Asian markets struggled to hold early gains with analysts warning of further volatility across trading markets.
British Prime Minister Theresa May left China on Friday with deals worth more than 9.3 billion pounds, at the end of a three-day trade mission where President Xi Jinping pledged to upgrade their “golden era” in relations.