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New Zealand is pragmatic on China, but does it have a choice?

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New Zealand Prime Minister Chris Hipkins trod a careful line on his first trip to China last week as leader, winning applause from China.

Hipkins is a man in trouble. He’s facing an election with an economy in recession.

If the saying is right “It’s the economy, stupid”, then New Zealand may have a new government.

His trip to China focused on trade and economic opportunities but avoided contentious issues such as human rights abuses in Xinjiang or security concerns.

Let’s remember this is the Labour party, and he follows the charismatic Jacinda Ardern, lauded for her ability to speak for minorities.

Tight election

Barely three months out from what looks likely to be a tight election and with the economy already technically in recession, analysts say Hipkins is seeking to step out of the shadow of high-profile former leader Jacinda Ardern and show he is the person to run the country for a further three years.

One angle Hipkins is focusing on is assuring voters that Labour is the party to bring back prosperity – and that means avoiding disputes with the country’s largest trading partner, which could damage New Zealand exports.

“This was a big visit for Hipkins who is cementing his profile as a new prime minister in an election year,” said Robert Ayson, professor of strategic studies at Victoria University.

“Hipkins pulled his punches on anything controversial. We were back, for a moment at least, where New Zealand admits it does not see eye to eye with China on some big matters without actually naming them.”

New Zealand has long been seen as the most conciliatory towards China among the Five Eyes security grouping, which includes Australia, the U.S., Britain and Canada.

Democratic erosion

But the country’s Foreign Minister Nanaia Mahuta and Ardern in recent meetings with counterparts noted the situation in Xinjiang and the erosion of democracy in Hong Kong, while raising concerns about potential militarisation in the Pacific and tensions in the Taiwan Strait.

The statement after Hipkins’s meeting with Chinese President Xi Jinping mentioned none of these issues.

“(Hipkins’s) visit certainly gave China a tick in the international legitimacy box and Beijing has gained at least as much from Hipkins’ visit as New Zealand exporters,” Victoria University’s Ayson said.

New Zealand exporters were prominent in the visit with a delegation of 29 businesses travelling with the prime minister to China.

Business is not a traditional supporter base of the Labour Party, but Hipkins has been focused on winning this sector over since he took office – his first full day in the job in January he spent talking to business leaders in Auckland.

“My sense is that there’s a significant aspect of domestic politics here in an election year, and that Hipkins wants to be seen as a sort of good steward of the China relationship,” said David Capie, Director of the Centre for Strategic Studies at Victoria University.

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Markets brace as U.S. government reopens ahead of key Fed signals

U.S. government funded through January; traders anxious amid economic data delays and potential December rate cut.

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U.S. government funded through January; traders anxious amid economic data delays and potential December rate cut.


The U.S. government is funded through January, averting another shutdown for now, but economic data delays and shifting Fed expectations are keeping traders on edge.

Markets now price in a 64% chance of a December rate cut as officials deliver crucial speeches this week.

#USMarkets #FederalReserve #GovernmentShutdown #InterestRates #USEconomy #WallStreet #Inflation #Treasury #FinanceNews #GlobalMarkets


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Starmer under strain as leadership rumours grow

Keir Starmer faces internal pressure and speculation of a leadership challenge ahead of the crucial Autumn Budget.

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Keir Starmer faces internal pressure and speculation of a leadership challenge ahead of the crucial Autumn Budget.


UK Prime Minister Keir Starmer faces mounting internal pressure amid talk of a leadership challenge and economic strain ahead of the Autumn Budget.

Chancellor Rachel Reeves’ looming tax decisions and Starmer’s sinking approval ratings are fuelling speculation across Westminster.

#UKPolitics #KeirStarmer #LabourParty #RachelReeves #AutumnBudget #LeadershipChallenge #BritishPolitics #Westminster #Economy #UKNews


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SoftBank sells Nvidia stake to fund massive AI push

SoftBank sells $5.8B Nvidia stake to invest in AI, sparking analysts’ views on Masayoshi Son’s bold gamble.

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SoftBank sells $5.8B Nvidia stake to invest in AI, sparking analysts’ views on Masayoshi Son’s bold gamble.


SoftBank has sold its entire $5.8 billion Nvidia stake to double down on artificial intelligence, investing heavily in OpenAI and the colossal $500 billion Stargate data-centre project.

Analysts say it’s Masayoshi Son’s boldest tech gamble yet.

#SoftBank #Nvidia #OpenAI #AI #MasayoshiSon #Stargate #TechNews #Investing #DataCenters #ArtificialIntelligence


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