Bloomberg Daybreak: Europe Edition Trump Wants Gaza 'Riviera', US Blocks China Parcels & De Beers Diamond Pressure
Feb 5, 2025
Donald Trump's bold proposal to transform Gaza into a 'Riviera' raises eyebrows and sparks global reactions, especially from Saudi Arabia. Meanwhile, China adopts a more cautious trade strategy amid ongoing tensions, reflecting its slowing domestic economy. The diamond market faces challenges as De Beers confronts falling prices and shifting consumer preferences favoring lab-grown options. Additionally, Sweden grapples with a tragic mass shooting, posing questions about safety and security amidst an unsettling geopolitical climate.
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Trump's Gaza Riviera Proposal
- Donald Trump proposed that the US take control of Gaza, relocate residents, and rebuild it as a "Riviera".
- This drew criticism from allies like Saudi Arabia and US Senator Chris Van Hollen.
US-China Trade War Escalates
- The US Postal Service halted inbound parcels from China and Hong Kong, but not letters.
- This followed a 10% tariff increase on Chinese goods by President Trump, impacting Chinese e-commerce stocks.
Ex-Google Engineer Faces Espionage Charges
- Former Google engineer, Lin Wei Ding, faces new charges related to economic espionage and theft of trade secrets.
- Prosecutors allege he stole chip technology used to train Google's AI models, like Gemini.