In the online headline of the British Financial Times, “OPEC and allies reject Joe Biden’s call to step up increase in oil production”. With minimal headlines in the New York Times, “Opep and Russia will not expand production, Biden refuses.”
The American president had made the appeal for even more oil at COP26, which continues with the bad news.
Also at the top of the FT home page, “Pact to end the use of coal is undermined because the United States does not sign”. The text ended up “weakened”, with the “deadline for developed nations changed to 2030 ‘or as soon as possible thereafter'”.
In the afternoon, the central conflict at the climate summit was highlighted by the Wall Street Journal’s “exclusive” headline, “China, India and other developing nations seek $1.3 trillion a year in climate finance.”
In short, “most of the developing world supported the demand that rich countries channel [o dinheiro] from 2030 onwards”, giving “the kick-off in one of the most controversial topics of negotiation at COP26”.
The WSJ recalls that “the promise to help” developing countries pay for the costs of responding to climate change “was crucial to sealing the Paris Agreement in 2015.”
‘WRECKING’
In Britain’s The Economist (above), “The Calamity Facing Joe Biden and the Democrats,” a year after the victory over Donald Trump.
MAO, DENG E XI
The Chinese press linked to the CP spent the week preparing the Sixth Plenum of the Central Committee, which starts on Monday. Renmin Ribao or People’s Daily has been publishing a front-page series, “Critical Choices in the New Age.”
The first text, as translated by the Tracking People’s Daily newsletter, was about the “great strategies that Secretary General Xi Jinping personally planned and promoted.” They show their “great political courage, strong sense of historical responsibility and deep feelings for the people.”
The second article looked at Xi’s role in fighting the pandemic. Comment from Bill Bishop, Sinocism newsletter: “To be on par with Mao and Deng in the leadership pantheon, Xi might think he needs some kind of ‘war experience’ and certainly fighting Covid-19 is too much. useful for that”.
Other texts dealt, always in the same tone, with his “victory over hunger” and the “new development model” he has been trying to establish.
CHIP RACE
Headlined by Beijing’s leading financial publication Caixin, “Tencent unveils three self-designed chips.”
The announcement “underscores the growing interest of Chinese companies in developing their own chips, which have recently seen the emergence of big-name competitors like Xiaomi and Huawei.” In particular, Alibaba, “Tencent’s archrival who unveiled his own this past month.”
The move is spurred on by the Xi government, which “has been fighting to correct vulnerabilities in China’s supply chain.”
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