FT News Briefing Biden courts India at G20
6 snips
Sep 8, 2023 The G20 summit in New Delhi presents a strategic moment for President Biden to strengthen ties with India, especially with key leaders like Xi Jinping absent. Meanwhile, Germany is advocating for a delay in electric vehicle tariffs between the UK and EU, seeking positive trade relations. Huawei shows resilience despite U.S. sanctions, launching a new smartphone with innovative chip production. The tech rivalry heats up as Apple faces stock pressure amid concerns over competition from Huawei and the implications of Chinese tech developments on global markets.
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Biden's G20 Opportunity
- President Biden sees an opportunity at the G20 summit due to the absences of Xi Jinping and Vladimir Putin.
- He aims to strengthen relationships with low- and middle-income countries.
Xi's Absence, Biden's Advantage
- Xi Jinping's absence from the G20 summit allows Biden to further his efforts to bring India closer to the US.
- Biden will present an economic vision as an alternative to China's influence.
Countering China's Influence
- Biden plans to offer a new value proposition for the global south, including increased World Bank lending capacity.
- This aims to counter China's influence through lending programs.