A surface-to-air missile shot down a U.S. military drone over the Strait of Hormuz, a U.S. official said Thursday.World Politicsread more
President Donald Trump has publicly blamed the Federal Reserve's interest rates hikes for holding back U.S. economic growth.The Fedread more
China's President Xi Jinping arrived in Pyongyang on Thursday morning for a state visit to North Korea — the first by a Chinese state leader in 14 years. Experts say the move...Asia Politicsread more
Gold prices spiked in the afternoon of Asian trading hours on Thursday after a dovish U.S Federal Reserve opened the door to further rate cuts, and the 10-year Treasury yield...Metalsread more
The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Waymo has signed a deal with Renault and Nissan to develop self-driving cars and trucks for use in France, Japan and possibly other countries in Asia, including China, the...Autosread more
It's crucial to note that the culprit behind attacks on two commercial tankers last week has not been conclusively proven.World Politicsread more
"No U.S. drone was operating in Iranian airspace today," a U.S. Central Command spokesman said, according to NBC News.World Politicsread more
The Fed left interest rates unchanged at its monetary policy meeting. The U.S. central bank did, however, drop the word "patient " from its statement and said it would "act as...Asia Marketsread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
A year into his presidency, Trump's priority of American jobs and the economy, a doctrine called "America First, " has resulted in a broad U.S. withdrawal from international engagement, reflected by the nation's exit of the Trans-Pacific Partnership agreement and the Paris climate change accord.
That stance has presented Chinese President Xi Jinping with ample opportunities to boost his country's global leadership and further Beijing's superpower ambitions. For example, Beijing joined the remaining 11 TPP member states for discussions in March after Washington left the pact in January.
Many countries are experiencing a clear shift toward Beijing in the absence of other strong leaders, Bremmer said on Thursday. Not only is the world's most populous nation "writing checks," it boasts "much more control of their economy than a western advanced industrial democracy," he noted.
His comments come as Trump visits Beijing as part of a five-nation Asia tour.
"The Chinese are not pro-multilateral globalization but they are pro the Chinese model, which right now doesn't have a lot of competition," Bremmer continued. Also known as the Beijing Consensus, China's growth model can be described as authoritarian capitalist and focuses on overseas investments, particularly in infrastructure, to uphold political and economic ambitions.
"The Chinese certainly feel like winners if you are a third-party country coming here to APEC and looking at what your options are," said Bremmer. That theory was recently featured on Time Magazine's most recent edition, with the issue's cover boldly stating "China won," referring to a piece by Bremmer.
Three more years of a Trump administration — potentially seven if he wins a second term — "is seen as a big opportunity by the Chinese," Bremmer told CNBC.