Xi says China, Brazil can model ‘self-reliance' for Global South
The two leaders have both sought in recent months to present their countries as staunch defenders of the multilateral trading system — in stark contrast with US President Donald Trump's tariff onslaught.
Xi said China would 'work with Brazil to set an example of unity and self-reliance among major countries in the Global South' and 'jointly build a more just world and more sustainable planet,' according to state news agency Xinhua.
He also said that 'all countries should unite and firmly oppose unilateralism and protectionism,' Xinhua reported — a thinly veiled reference to US tariffs.
A statement by the Brazilian presidency said that the phone call lasted about an hour, during which time Lula and Xi discussed a range of topics including the war in Ukraine and combating climate change.
'Both agreed on the role of the G20 and BRICS in defending multilateralism,' the statement said.
The leaders also 'committed to expanding the scope of cooperation in sectors such as health, oil and gas, digital economy and satellites,' it added.
The phone call came after Lula indicated plans last week to speak with the leaders of India and China to consider a coordinated response to US tariffs.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Argaam
an hour ago
- Argaam
US crude stocks rise by 3M barrels
US crude oil inventories rose unexpectedly during the week ended Aug. 8. Commercial crude inventories increased by three million barrels last week, compared to expectations for a decline of 1 million barrels, data released on Aug. 13 by the Energy Information Administration (EIA) showed. Meanwhile, gasoline inventories fell by 800,000 barrels during the same period, while distillate inventories — including diesel and heating oil — rose by 700,000 barrels.
Asharq Al-Awsat
3 hours ago
- Asharq Al-Awsat
‘Micron Technology' Raises Forecast for Fourth-Quarter Revenue, Profit
Micron Technology on Monday raised its forecast for fourth-quarter revenue and adjusted profit, banking on surging demand for its memory chips used in artificial intelligence infrastructure, sending its shares up about 5% before markets closed. Semiconductor makers such as Micron have seen a surge in orders for their high-bandwidth memory (HBM) chips due to their intensive data-processing capabilities, as large tech firms ramp up AI data center investments, according to Reuters. The company now expects quarterly revenue of $11.2 billion, plus or minus $100 million, compared with its previous forecast of $10.7 billion, plus or minus $300 million. Micron also nudged up its adjusted gross margin forecast to 44.5%, plus or minus 0.5%, for the fourth quarter, compared with its prior expectation of 42%, plus or minus 1%. The company said the revised forecast reflects improved pricing, particularly for dynamic random access memory or DRAM products. Supply constraints in HBM production and strong AI demand have enabled Micron to command higher prices for its products, representing a shift where historically memory chipmakers had to accept thinner margins, eMarketer analyst Jacob Bourne said. Reuters exclusively reported on Monday Nvidia supplier SK Hynix sees the market for specialized AI memory chips growing 30% a year until 2030. The imposition of a 100% tariff on some chips imported into the US could hit growth, but the duties will not apply to companies manufacturing in the country or have committed to do so. In June, Micron said it is expanding its US investments by $30 billion, totaling $200 billion. Micron expects adjusted fourth-quarter earnings of $2.85 per share, plus or minus 7 cents, compared with its earlier expectation of $2.50, plus or minus 15 cents.
Al Arabiya
5 hours ago
- Al Arabiya
US First Lady Melania Trump demands Hunter Biden retract ‘salacious' statements on Epstein
First lady Melania Trump demanded that Hunter Biden retract comments linking her to sex trafficker Jeffrey Epstein and threatened to sue if he does not. Trump takes issue with two comments Biden, son of former President Joe Biden, made in an interview this month with British journalist Andrew Callaghan. He alleged that Epstein introduced the first lady to now-President Donald Trump. The statements are false, defamatory and 'extremely salacious,' Melania Trump's lawyer, Alejandro Brito, wrote in a letter to Biden. Biden's remarks were widely disseminated on social media and reported by media outlets around the world, causing the first lady 'to suffer overwhelming financial and reputational harm,' he wrote. Biden made the Epstein comments during a sprawling interview in which he lashed out at 'elites' and others in the Democratic Party he says undermined his father before he dropped out of last year's presidential campaign. 'Epstein introduced Melania to Trump. The connections are, like, so wide and deep,' Biden said in one of the comments Trump disputes. Biden attributed the claim to author Michael Wolff, whom Trump disparaged in June as a 'Third Rate Reporter.' He has accused Wolff of making up stories to sell books. The first lady's threats echo a favored strategy of her husband, who has aggressively used litigation to go after critics. Public figures like the Trumps face a high bar to succeed in a defamation lawsuit. The president and first lady have long said they were introduced by Paolo Zampolli, a modeling agent, at a New York Fashion Week party in 1998. The letter is dated Aug. 6 and was first reported Wednesday by Fox News Digital. Abbe Lowell, a lawyer who has represented Biden in his criminal cases and to whom Brito's letter is addressed, did not immediately respond to a request for comment late Wednesday.
