Biden confirms sanctions against China If helping Russia attack Ukraine

We went back to last Friday. Markets have been keeping an eye on talks between two world leaders, US President Joe Biden has warned China’s President Xi Jinping about the ongoing conflict between Russia and Ukraine that has yet to find a way to lead to peace. After the discussions, there were several conclusions that came out together.

follow-up factor

1. “Biden” confirms with Chinese sanctions If helping Russia attack Ukraine

one of the key points Revealed from the White House by White House spokesman Jane Saki said: US President Joe Biden has warned President Xi China’s Jinping In a talk on Friday about the consequences if China provides concrete support for the Russian invasion of Ukraine however The White House has not released details on what the consequences will be. Or how the United States defines concrete support, but Ms Saki stressed that “sanctions will certainly be a tool”.

which according to news reports One senior US official added: President Biden communicated that China will not face the consequences only from the US but will also come from many countries around the world.

As for the attitude on the side of China itself China’s foreign ministry said president color Jinping addressed the US leader through the video conferencing system that China hopes Russia and Ukraine A ceasefire agreement could be reached soon. He also expressed his opinion against the use of sanctions against Russia. It called on the United States and the North Atlantic Treaty Organization (NATO) to negotiate with Russia on security issues. While China does not wish to see a new Cold War start.

The Chinese leader also said that now the trend of peace and development is being severely challenged. while the world is not peaceful and unstable The event has shown that countries They should not come to the point of facing each other on the battlefield. which conflicts and confrontations will not benefit any party and as China and the United States They are permanent members of the United Nations Security Council. and is the leader of the world economy We don’t just have to lead our relationships in the right direction. but must bear the shared responsibility to the international community by taking action for world peace and tranquility

2. Fed officials support strong drug use Speeding up interest rates to curb inflation

by Christopher Waller, one of the governors of the US Federal Reserve comment The Fed needs to do more to withdraw monetary easing. In order to affect the inflation that will rise this year and next. He suggested the Fed should cut interest rates by 0.50 percent in one or more meetings in the near future.

Mr Waller also stated that The Fed needs to begin scaling its balance sheet from the current $9 trillion. The process should begin immediately at the next meeting.

Waller’s comments were in line with St. Louis Fed President James Bullard, who said the Fed should raise interest rates 12 times this year to show that the Fed is raising interest rates. It is serious about fighting inflation, which is currently hitting its highest level in 40 years and is affecting people. by the goal of Mr. Bullard is to want to fade Raise interest rates to above 3 percent this year.

for Mr Bullard It is the only Fed official to vote for the Fed to raise interest rates by 0.50 percent at last week’s meeting. The Fed raised interest rates by 0.25 percent to 0.25-0.50 percent, while Fed officials It is expected to raise interest rates 6 more times in percentage. 0.25 per time during the rest of the year This will bring the short-term interest rate to 1.75-2.00 percent at the end of this year.

3. “JPMorgan-Credit Suisse” expected COVID in China has little impact on GDP

The Bureau of International Analysis remains concerned that the lockdown will affect the Chinese economy. But it is seen as a small impact after China is ready to continue to stimulate the economy. and signal relaxation of epidemic control measures to reduce the impact on the economy as much as possible

With Chinese President Xi Jinping pledged China will strive to achieve COVID-19 prevention and control goals to have the least impact on China’s economy and social development But he reiterated that the government continued to implement the Zero-Covid Policy or Covid-Zero.

While the Bloomberg News Agency reported that This is the first time that a Chinese leader has signaled to reduce the impact caused by the use of preventive measures against COVID-19 At a meeting of the Politburo of the Communist Party of China (the Politburo) since the outbreak began in 2020, China is now grappling with the epidemic by ordering lockdowns in its technology hub, Shenzhen. and there are tens of millions of people living

JPMorgan predicts that Around 20 percent of China’s GDP will be affected by economic shock (Economic Shock) due to its zero-tolerance policy on the coronavirus. But it is expected to recover in the end of the second quarter or around May to June. It also forecast China’s full-year GDP growth of 4.9 percent, down slightly from its previously estimated 5.1 percent. that China’s GDP will shrink 0.03-0.05 percent weekly during the current lockdown.