The United States is 'turning to China for help' to cool inflation by releasing some of its oil reserves, the state-backed Global Times said in an editorial on Wednesday, adding that the move will benefit everyone but China 'has the upper hand.'
Inflation is threatening President Biden's Democratic Party in next year's mid-term elections, said the Global Times.
"As a result, the Biden administration will have to turn to China again. This is a direction that benefits everyone, but China clearly has the upper hand." The Global Times is published by the People's Daily, the official newspaper of China's ruling Communist Party. The United States and China disagree on the origins of the COVID-19 pandemic, trade and competition rules, Beijing's expanding nuclear arsenal and its stepped-up pressure on Taiwan, among other issues. But Biden and Chinese leader Xi Jinping held lengthy virtual talks last week, which were widely seen as a joint effort to improve icy relations.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
K-Drama ‘Hometown Cha-Cha-Cha’ No. 8 On Global Charts Following ‘Squid Game’ SuccessWith 'Squid Game' being 1, two Korean shows have made the chart simultaneously.
Read more »
Bank of America picks global stocks to buy in an inflationary 'boom' periodBank of America believes the cycle — marked by rising inflation and bond yields — could benefit certain stocks that have outperformed in previous boom periods.
Read more »
RTS Craft Winners; Warner Australia Deal; Viaplay Norwegian Original — Global BriefsRTS Craft Winners Revealed Channel 4 shows We Are Lady Parts and It’s A Sin were the big winners at last night’s Royal Television Society (RTS) Craft & Design Awards 2021, while the…
Read more »
‘Snowball effect’: The global reasons why you can’t buy what you want right nowNEW: Liquor makers can't find enough glass, incomplete toy sets sit in factories, wheelchair makers are waiting months for tires, and chicken tenders have never been more expensive. How a supply chain crisis is affecting industries across America:
Read more »
CNN Portugal Launches, Run By Media Capital and a Sign of Portugal’s New Global AmbitionsCelebrated by a VIP evening event at Lisbon’s imposing Jerónimos Monastery, CNN and partner Media Capital will bow CNN Portugal today at 21:00 GMT, marking the biggest news launch for many years in…
Read more »
‘Billion Dollar Whale’ Series Adaptation In Works From SK Global & WestwardHouse Of Cards creator and showrunner Beau Willimon and his Westward producing partner Jordan Tappis have teamed with Crazy Rich Asians’ co-financier SK Global to develop a television series …
Read more »