Xi’s balancing act with Europe
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 6 May 2024
⏱️ 14 minutes
🧾️ Download transcript
Summary
Warren Buffett said Greg Abel should have the final decision on investments at Berkshire Hathaway, the US and Europe disagree on how to manage Russia’s frozen assets, and Chinese President Xi Jinping visits Europe. Plus, college students in the US are calling for their universities to divest from Israel, but it’s not that simple.
Mentioned in this podcast:
Bonhomie and hardball: Xi Jinping visits Europe to avert trade war
The clash over whether to commandeer Russia’s frozen assets
Divestment is not as easy as it may seem
Berkshire Hathaway’s cash pile hits record as Buffett cuts stake in Apple
Buffett lays out expansive role for successor Greg Abel at poignant Berkshire AGM
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Denise Guerra, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The UK's energy partner. |
| 0:06.0 | Learn more at equinore. |
| 0:10.0 | At Aquinore. UK. Good morning from the Financial Times. Today is Monday, May 6th, and this is your |
| 0:17.6 | F.T. news briefing. Chinese President Xi Jin Ping is looking to do some damage control in Europe, |
| 0:25.0 | and everyone's wondering what to do with Russia's frozen assets. |
| 0:29.0 | Plus, U.S. college students want their universities to divest from Israel, but it's not that easy. |
| 0:37.0 | I'm Kasha Bresalian and here's the news you need to start your day. Shee-jinping is in Europe this week and his main mission is to avert a trade war. |
| 1:00.4 | Today he'll meet with French President Emmanuel Macron and they'll hold some pretty tough |
| 1:05.2 | talks over the mounting number of EU investigations into Chinese companies. |
| 1:10.4 | Now Europe is China's second largest regional trading partner, so she has to play a pretty important balancing act here. |
| 1:17.0 | Experts say he'll be on a charm offensive, but also he'll be willing to play hardball. |
| 1:22.0 | That includes threatening restrictions on exports. |
| 1:25.4 | Still, China does have a few good friends in Europe. |
| 1:28.5 | She will visit Serbia and Hungary next, |
| 1:31.0 | and both have benefited from a surge in Chinese investment. |
| 1:37.0 | After Russia launched its full-scale invasion of Ukraine, Western Allies went to work on sanctions. |
| 1:48.0 | They froze hundreds of billions of euros in Russian assets. |
| 1:51.0 | And ever since, people have been debating whether to give those |
| 1:54.8 | assets to Ukraine. The debate got a lot more urgent in recent weeks and here to talk to |
| 2:00.3 | us about it is the FT's Palatama. Hey Paula. Hi Kasia. |
| 2:04.3 | Okay so first things first when we're talking about Russian assets what are they |
| 2:09.5 | exactly and where are they? So essentially in 2022, one of the first measures that G7 and their allies took against |
... |
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