Xi Jinping is facing up to the awkward realities of navigating a âno limitsâ relationship with Vladimir Putin as Russia suffers key losses i
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Follow Us [Get the newsletter]( Xi Jinping is facing up to the awkward realities of navigating a âno limitsâ relationship with Vladimir Putin as Russia suffers key losses in its war with Ukraine. The Chinese leader is stepping out onto the world stage for the first time in nearly 1,000 days. Heâs seeking to project a vision of an alternate global order that can challenge the US and its allies. Instead, all eyes are on his meeting with Putin and precisely what the Russian president will ask of China. Key reading: - [Xi Returns to World Stage With Putin to Counter US Dominance](
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- Follow our rolling coverage of Russiaâs war in Ukraine [here](. Xi kicked off the central Asia tour today with a state visit to Kazakhstan, where he launched his signature Belt-and-Road trade-and-infrastructure plan nine years ago. Next, he goes on to a Chinese-founded security forum in Uzbekistan where Xi and Putin will meet for the first time since Russiaâs February invasion of Ukraine. Both stops will reinforce Xiâs vision of a world where China can expand its interests without fearing the threat of economic or military pressure from the US. It should be a comfortable return to international diplomacy with friendly nations, no intrusive media and few awkward questions, just a month before heâs expected to consolidate power at a historic Communist Party congress. But after months of Beijingâs careful balancing act â offering support for Russia and strengthening economic ties without triggering US and European sanctions â cozy relations between Xi and Putin now risk becoming a liability for Beijing. â [Rebecca Choong Wilkins]( Xi at the Great Hall of the People in Beijing on Aug. 30. Photographer: Li Xueren/Xinhua/Getty Images Click [here]( to sign up for our Equality Newsletter running tomorrow and share this newsletter with others. They can sign up [here](. Global Headlines Action on energy | European Commission President Ursula von der Leyen set out plans to raise 140 billion euros ($140 billion) as part of [radical]( steps to rein in the continentâs biggest energy crisis in decades. The European Union is also talking with Norway as part of efforts to cut gas prices and limit economic damage caused by lost Russian supplies, she said. - Von der Leyen pledged in her annual state of the union address to work to [guarantee]( âseamlessâ access for Ukraine to the EUâs massive single market to help its economy recover from the war. Strike threat | US railroads are poised to stop shipments of farm products and other key goods starting tomorrow as the industry braces for a possible [labor strike]( that could cost the worldâs biggest economy more than $2 billion a day. President Joe Biden has become personally involved in trying to avert the action that Democrats believe may [hurt]( their chances in the November midterm elections. - Biden [ignored]( worse-than-expected US inflation data that roiled markets during a planned celebration yesterday for his signature climate-and-tax law. Russiaâs energy revenues shrank in August to the lowest level in more than a year as international sanctions over Ukraine prompted the Kremlin to sell oil at [steep discounts]( in Asian markets and squeeze gas flows to Europe. Taiwan ties | US lawmakers will debate a bill today to [strengthen relations]( with Taiwan and give it more military hardware to deter a potential Chinese invasion. As American politicians jockey to show whoâs toughest on Beijing, the proposed Taiwan Policy Act is making the White House nervous because it says Americaâs longstanding policy of âstrategic ambiguityâ is working.
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- [Poles Canât Live With Germans, Canât Live Without: Andreas Kluth]( Fighting continues | Azerbajian and Armenia reported [fresh border clashes]( today despite appeals from the US and France for them to respect a Russia-brokered cease-fire. Fighting between the Caucasus nations yesterday killed 99 soldiers, the worst death toll since a 2020 war. France said it would raise the crisis at the United Nations Security Council and Armenia appealed to a Russia-led defense bloc for help. Explainers you can use - [Chinese Manufacturers Skirt US Tariffs With Help From Mexico](
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- [An ABC on ESG and the Kinds of Backlash Itâs Facing]( Long list | William Ruto inherits a [litany of problems]( after being sworn in as Kenyaâs president, ranging from burgeoning debt to growing hunger in East Africaâs biggest economy caused by one of the worst droughts in decades. Kenya is among nations including Sri Lanka and Iran facing heightened risk of civil unrest as governments grapple with the aftershocks of the surge in inflation, according to consultancy Verisk Maplecroft. Tune in at 8am ET for our weekly global Twitter Space and a conversation with reporters about Xiâs first overseas trip for almost 1,000 days, his meeting with Putin and signs of shifting loyalties in Russiaâs backyard. You can listen via [this link](, which will also be available afterward. News to Note - Queen Elizabeth IIâs coffin arrived in London ahead of todayâs procession through the UK capital to Westminster Hall, where she will [lie in state]( for four days until her funeral.
- The Biden administration will announce an expanded $3.5 billion commitment for [pilot projects]( today that could cut carbon emissions from farming, tripling the funding levels announced earlier this year.
- Troubling scenes from lockdowns in Chinaâs far west Xinjiang region are fueling [rare signs of solidarity]( between oppressed Muslim Uyghurs and majority ethnic Han.
- The US will put $3.5 billion in Afghanistanâs central bank [reserves]( under the control of a Swiss-based oversight board to pay for limited financial services in the country while ensuring the Taliban regime doesnât get access to the money. And finally ... Brazilian President Jair Bolsonaroâs decision to boost monthly stipends to about 18 million poor families is failing to improve his re-election chances. While he trails his main rival, former leader Luiz Inacio Lula da Silva, by at least 11 percentage points nationally in the latest polls, those who receive the cash handouts are more than twice as [likely to vote]( for his leftist challenger, an Ipec survey showed. Residents line up to receive government aid in Juazeiro do Norte, Ceara state, on Feb. 14. Photographer: Jonne Roriz/Bloomberg Like getting this newsletter? [Subscribe to Bloomberg.com]( for unlimited access to trusted, data-driven journalism and subscriber-only insights. You received this message because you are subscribed to Bloomberg's Balance of Power newsletter.
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