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US and Chinese officials clashed at the start of two days of talks in Alaska, with Antony Blinken, Secretary of State, accusing his Chinese counterpart of undermining global stability with his actions towards Hong Kong, Xinjiang and Taiwan.
“Each of these actions threatens the rules-based order that maintains global stability,” Blinken said in his opening address in Anchorage. “The alternative to a rules-based order is a world in which force does good and winners take all.”
Yang Jiechi, China’s top diplomat, retaliated by accusing the United States of having a “cold war mentality,” and saying that Washington had used its military and financial clout to “suppress” other nations and ” incite certain countries to attack China ”.
Expectations for the first high-level meeting between Washington and Beijing since Joe Biden took office in January were low, but the brutal exchange suggested reports, already at a four-decade low, could fall further.
Elisabeth Braw, national security expert at the American Enterprise Institute’s think tank, said Yang’s remarks show that China is increasingly willing to abandon the kind of protocols that normally make the part of diplomatic meetings public. blocked.
“The Chinese government clearly believes that it does not need to adhere to long-established standards,” she said. (FT)
What have we learned from a year of Covid-19? If you show us images of selfish covidotes, we are more likely to be selfish. Show us noble altruists and we aspire to be like them, writes Tim Harford. To pursue our live blog and vaccine tracker for the latest updates.
In the news
NFL signs multi-billion-dollar 11-year media rights deal The National Football League has signed a wide range of media rights would be worth up to $ 110 billion over 11 years, including the first exclusive broadcast rights for Amazon. The deal more than doubles the value of existing NFL rights. (FT)
Goldman Sachs junior bankers complain about the 95-hour week A group of first-year investment banking analysts at Goldman Sachs presented to management a slide show describing arduous working conditions last month, shining a rare spotlight on the stress facing young people working in investment banking. (FT)
Kodak recovers millions after share allocation error Eastman Kodak recovered almost every $ 3.9 million five former executives collected last year by exercising stock options they were supposed to have lost. Former executives capitalized on a sharp rise in Kodak shares last July after signing a letter of intent regarding a possible US government loan of $ 765 million. (FT)
David Cameron lobbied for Greensill to access loan programs The former British prime minister lobbied Boris Johnson’s government to increase Greensill Capital’s access to state-backed Covid-19 emergency loan programs, months before the finance company collapsed. (FT)
Apple warns Chinese apps not to sidestep new privacy rules Apple fired on Thursday preventive warnings to at least two Chinese tech companies as the iPhone maker tries to enforce its new privacy policies in China.
Facebook unveiled its vision for a bracelet who will control its next augmented reality glasses, marking the latest step in the social media company’s efforts to take on Apple in the next generation of computing.
Google will spend $ 7 billion this year to expand its network of offices in the United States and data centers, saying he always saw value in employees “coming together in person to collaborate”.
Two Canadians detained in China for arrest of Huawei CFO stand trial China started the trials of two Canadians who have been held for more than two years in retaliation for the detention of Huawei leader Meng Wanzhou in a case that has deepened distrust of Beijing in the west. (FT)
The coming days
Premiers get a jab Boris Johnson and Jean Castex, the prime ministers of UK and France respectively, will today receive their first AstraZeneca Covid-19 vaccine. Ireland is set to become the last EU country to lift its suspension of the controversial vaccine later on Friday. (FT)
United States Men’s College Basketball Championship The first of 64 teams will start playing in approximately two week tournament it is the financial backbone of the National Collegiate Athletic Association. (FT)
Earnings Saudi Aramco reports its results on Sunday, when investors are expected to focus on production, dividend and crude production forecasts. Oil prices, meanwhile, are on track to their biggest weekly drop since October. (FT)
What else do we read
Mark Carney: a chance to relaunch globalization As we seek to recover from the pandemic, the former Governor of the Bank of England proposes four principles for a more equitable global economy: resilience, solidarity, connectivity and sustainability. (FT)
“We must shape a renewed global economy based on new and dispersed networks of trade, capital and ideas that harness the creativity of billions of people, who will fully share its rewards.”
Can Lighter Gas Make Heavy Industry Green? EU countries have pledged to reduce their greenhouse gas emissions by 55% by 2030, companies must decarbonise quickly. Critics say hydrogen is just one solution among many, but experts insist there is little choice if heavy industry wants to reduce emissions. This article is part of the FT series on hydrogen.
Asian Americans suffer wave of hate crimes in Covid era Robert Aaron Long, 21, a white man suspected in this week’s Atlanta shooting, said his crimes were not racially motivated but sexually motivated, police said. Long claims offer little comfort to an Asian-American community that has suffered a wave of hate attacks in recent months. (FT)
A Year Without Broadway: “It’s Like Missing The City’s Punchline” Before the pandemic, Broadway was having another record breaking year. But the devastating impact of a one-year stoppage raises questions about how the New York theater will emerge. (FT)
How the KitKat went global From wasabi to the harmony of flavors, there is a way to interpret this Sco-Swiss-Japanese innovation: as a symbol of the paradoxical nature of today’s globalization, writes Gillian Tett. But as digital platforms, freighters and planes create connections (and contagions), we are also experiencing an anti-globalization backlash. (FT)
Podcast of the day
Joe Biden’s Covid-19 Vaccination Program Accelerates US President Joe Biden has promised every American adult a vaccine by the end of May. The success of the vaccination program raises a more sensitive question: what should happen to the alternate doses that the United States can produce? Washington correspondent Kiran Stacey investigates. (FT)