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The post Scott Bessent says China will quietly pressure Iran to reopen Strait of Hormuz appeared on BitcoinEthereumNews.com. U.S. Treasury Secretary Scott Bessent said China is expected to press Iran privately to get the Strait of Hormuz open again, because Beijing is sitting right in the middle of the oil problem. Scott said on Thursday that China has more at stake than the United States because it buys a huge amount of crude from the Middle East and gets nearly all of Iran’s exported oil. He told Joe Kernen, “It’s very much in their interest to get the strait reopened.” Scott then added, “I think they will be working behind the scenes to the extent anyone has any say over the Iranian leadership.” China is the world’s biggest crude oil importer. In the year 2024, roughly 10% of its crude oil imports were from Iran, while over 50% of all imports were from the Middle East, according to the U.S. Energy Information Administration. As Scott pointed out, almost every barrel Iran exports to
Read full articleKuwait-Iran tensions highlight regional instability, potentially impacting geopolitical dynamics and investor risk assessments globally. The post Kuwait foreign ministry summons Iran’s ambassador over Boubyan Island infiltration appeared first on Crypto Briefing.
The post Gold inches higher above $4,650 amid Trump–Xi summit hopes appeared on BitcoinEthereumNews.com. Gold price (XAU/USD) recovers some lost ground around $4,660 during the early Asian session on Friday. However, the potential upside for the precious metal might be limited as the prospects of US rate cuts have largely faded. Traders will closely monitor US President Donald Trump’s meeting with Chinese President Xi Jinping in Beijing. Trump and Xi called for a better US-China relationship on Thursday as they began a two-day summit likely to cover issues ranging from tariffs to artificial intelligence. Xi reportedly told the US business leaders their companies could be “deeply involved in China’s reform and opening up” and that “China’s door will only open wider.” Trump said after Thursday’s meetings that Xi offered help to resolve the conflict and pledged not to provide military equipment to Iran. Xi also wants to see the critical Strait of Hormuz reopened. “The market is trying
China is worried A.I. companions could be a drag on productivity. On “Interesting Times,” Kyle Chan, a foreign policy fellow at the Brookings Institution, tells the Opinion columnist Ross Douthat that the government thinks youth “should be engineering the future and building out the start-ups and the future Chinese versions of SpaceX.”
What if you weren’t worried about A.I. taking your job? That seems to be closer to the reality in China, where keeping pace with the new technology is a much bigger focus than economic disruption. On “Interesting Times,” Kyle Chan, a foreign policy fellow at the Brookings Institution, explains how the countries differ in their anxieties over artificial intelligence.
Iran's toll on the Strait of Hormuz could trigger global shipping route changes, impacting energy markets and prompting similar policies elsewhere. The post Iran imposes $1M toll on Strait of Hormuz transits, impacting global oil flow appeared first on Crypto Briefing.
The post Bitcoin Sees Unexpected Growth Amid High-Level US-China Talks appeared on BitcoinEthereumNews.com. The recent summit between US President Donald Trump and Chinese President Xi Jinping, held in Beijing on May 14–15, was a critical event as both nations attempted to navigate through mounting economic frictions. A side effect of the diplomatic discussions was an unexpected rise in Bitcoin‘s value, which increased by 2.3 percent, reaching $96,800. Continue Reading:Bitcoin Sees Unexpected Growth Amid High-Level US-China Talks Source: https://en.bitcoinhaber.net/bitcoin-sees-unexpected-growth-amid-high-level-us-china-talks
The post 30 China-linked vessels transit Strait of Hormuz under Iranian supervision appeared on BitcoinEthereumNews.com. ## Market Snapshot Strait of Hormuz Traffic by May: 0.2% YES for May 15, 7.5% YES for May 31. Strait of Hormuz Ship Transit by May 31: 64% YES for 20 ships, 26% YES for 40 ships, 9% YES for 80 ships. Prices have fluctuated notably in the last 24 hours. ## Key Takeaways – The confirmed transit of 30 China-linked vessels under Iranian supervision suggests an increase in traffic consistency. – Market pricing indicates a higher likelihood of achieving normal traffic levels by the end of May. – The recent developments appear supportive of a YES outcome for ship transit markets, reflecting increased operational continuity. ## Article Body In a significant development amid the ongoing US-Israeli conflict with Iran, approximately 30 China-linked vessels have transited the Strait of Hormuz under Iranian supervision in the last 24 hours. This marks the third passage of Chinese
The post EU-China trade: Pragmatic stance and targeted risks – Standard Chartered appeared on BitcoinEthereumNews.com. Standard Chartered economists Christopher Graham and Carol Liao discuss the EU’s widening trade deficit with China, highlighting the autos sector as a key example of the imbalance. They note EU efforts to expand its trade policy toolkit and industrial strategy, while expecting China to maintain a restrained, pragmatic approach that preserves trade ties but leaves room for targeted actions. EU weighs broader trade policy response “EU officials are growing increasingly concerned with the bloc’s widening trade deficit with China. Although largely due to higher import volumes, it is also being driven by weakening export volumes to China.” “The autos sector has become symbolic of this trade shortfall, with EU vehicle imports from China increasing 10-fold since 2019, while EU exports to China have fallen sharply in the past few years.” “EU officials have cited overcapacity i
