FT News Briefing Xi’s balancing act with Europe
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May 6, 2024 Warren Buffett hints at a major leadership shift at Berkshire Hathaway as he prepares successor Greg Abel to take the reins. Tensions rise between the US and Europe over how to manage Russia's frozen assets amid ongoing sanctions. Meanwhile, college students in the US rally for divestment from Israel, highlighting the complexities of ethical investing. The podcast dives into the evolution of university investment strategies and the challenges posed by balancing financial returns with social principles.
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Xi's Balancing Act
- Xi Jinping aims to prevent a trade war with Europe, a crucial trading partner.
- He will use both charm and hardball tactics, including potential export restrictions.
Debate on Russian Assets
- Western allies froze Russian assets after the Ukraine invasion, sparking debate on their use.
- The US supports giving the assets to Ukraine, but Europe is concerned about legal and economic consequences.
Confiscation Proposal
- Confiscating frozen Russian assets and giving them to Ukraine is the main proposal.
- The U.S. backs this idea, arguing Ukraine is entitled to the funds due to Russia's aggression.