World
Xi's European tour: Some euro, no vision
The opinions expressed in this article are those of the author and do not represent in any way the editorial position of Euronews.
For China to revive its fortunes, it must fundamentally change course, abandoning its version of predatory state capitalism in favour of the genuine market reforms its trade partners worldwide are calling for, Elaine Dezenski writes.
Xi Jinping arrived in Europe earlier this week lugging some heavy economic baggage.
With foreign direct investment into China plunging 82% to just $33 billion (€30.5bn) in 2023 — a three-decade low — one might have expected Xi’s tour to be a full-fledged charm offensive aimed at wooing back skittish European investors and businesses.
However, the authoritarian leader’s trip was anything but charming.
Rather than candidly address the headwinds battering China’s economy and appease anxious trading partners, Xi doubled down on the same tone deaf tactics that have defined his authoritarian rule for over a decade.
Cosying up to the like-minded regimes in Hungary and Serbia, Xi offered limited compromises on China’s aggressive trade practices. This hardline posture underscores Xi’s fundamental inability to relate to major market economies as an equal partner respecting fair competition.
For China, the results have been disastrous. The fact that the US has now surpassed China as Germany’s largest trading partner lays bare the costs of Xi’s inflexible approach.
Germany has been one of China’s more reliable European partners — this shift, however, shows the extent of Europe’s growing rejection of China’s hegemonic ambitions.
A bad call at a bad time
With a looming demographic crisis at home and a faltering real estate sector, China needs its top export markets — the US and Europe — more than ever. But authoritarians don’t make a habit of offering concessions or leading with a spirit of compromise.
Xi had a prime opportunity on this European tour to chart a new course, one oriented around economic liberalisation, market reforms, supply chain transparency, and fair competition.
Instead, he chose the path of confrontation towards vital European trading partners while cosying up to Europe’s authoritarian eastern flank.
This represents an untimely miscalculation. By ignoring the reasonable concerns of Europe’s leading economies, Xi has squandered an opportunity to help stave off potential economic implosion at home.
Foreign capital will continue fleeing, spooked investors won’t return, and European markets will become increasingly inaccessible so long as Beijing maintains its predatory trade practices.
Respect the rules of the market you need
The reality is that while China’s domestic market remains important, the number of foreign firms deriving profits there appears to be shrinking.
According to a report from the McKinsey Global Institute, multinational corporations’ “share of all revenues earned in China declined from 16% to 10% from 2006 to 2020.”
For many, the Chinese market has become an empty promise. The European Union Chamber of Commerce in China’s latest survey shows record-low business confidence in the Chinese market.
In fact, a record share of respondents doubted their profitability in China. In the US, as well, less than half of companies responding to an American Chamber of Commerce in China survey indicated they expect to be profitable in 2024.
Xi had an opportunity to change the tides with respect to investment in China. He could have addressed the pressing needs of his European trading partners with humility and opened the door to renewed economic cooperation.
Unfortunately for the Chinese people, returning to robust commerce with Europe and North America’s major economies would require the flexibility and respect for market principles that Xi’s authoritarian mindset renders him incapable of delivering.
With foreign capital fleeing, property values falling, youth unemployment surging, and indebtedness soaring, China is in desperate need of a win for its export-driven economy.
The status quo won’t fly any more
On this trip, European Commission President Ursula von der Leyen bluntly conveyed the EU’s demands for fair economic competition with China and its willingness to robustly defend its interests against Beijing’s unfair trade practices.
In response, Xi bluntly denied the basis for Europe’s concerns, claiming, “The so-called ‘problem of China’s overcapacity’ does not exist, either from the perspective of comparative advantage or in light of global demand.”
This builds on the ES’s 2019 designation of China as a “systemic rival” and should be understood in China for what it is: a clear warning that the status quo is no longer acceptable.
By doubling down on authoritarian belligerence, Xi demonstrated a lack of vision for productive European engagement.
For China to revive its fortunes, it must fundamentally change course, abandoning its version of predatory state capitalism in favour of the genuine market reforms its trade partners worldwide are calling for.
By ignoring Europe’s call for change, Xi has ensured darker economic days ahead for the Chinese people.
Elaine Dezenski is senior director and head of the Center on Economic and Financial Power at the Foundation for Defense of Democracies, a non-partisan think tank based in Washington, DC.
At Euronews, we believe all views matter. Contact us at view@euronews.com to send pitches or submissions and be part of the conversation.
World
Iceland kills first whales since 2023, resuming whaling
By Euronews with AFP
Published on
Two whales were killed off the coast of Iceland overnight Sunday, two days after commercial hunting resumed, local media and animal rights activists reported Monday.
ADVERTISEMENT
ADVERTISEMENT
The kill ends a two-year pause and marks the first catches since 2023.
Icelandic public broadcaster RUV reported that two fin whales were killed. The fin whale is the second largest animal on Earth after the blue whale.
Before the vessels set off on Friday, a protester had attached himself to one of the masts in the port of Reykjavik, but climbed down and was escorted away by police.
Iceland, Norway and Japan are the only three countries that still openly permit whaling, despite international condemnation from the public and animal welfare organisations.
Iceland cancelled its whale hunt over the past two years, partly because economic problems had cut demand and the industry was not deemed profitable enough.
“The first fin whale deaths in Iceland’s hunt this year are devastating,” said Joanna Swabe, European senior public affairs director for animal rights group Humane World for Animals.
“Iceland has killed more than 1,000 fin whales in the past two decades — not only the second largest animal on the planet but also a species classified as globally vulnerable to extinction,” Swabe said in a statement.
Iceland’s government has said it is planning to introduce a bill aimed at banning whaling this autumn.
The International Whaling Commission banned the commercial killing of whales in 1986 amid alarm at the declining stock of the marine mammals.
Iceland’s Marine and Freshwater Research Institute has recommended that no more than 150 fin whales are caught in the 2026 season.
That represents a 28-percent drop on the annual quota it recommended for the period 2018–2025, it said.
The institute has set an annual catch of 168 animals for the minke whale hunt this year, a 23-percent drop on 2018-2025.
World
Paramount+ Sets Tulisa Docuseries About Shamed ‘X Factor’ Judge From Dorothy Street Pictures
Paramount+ has commissioned a docuseries about shamed “X Factor” judge Tulsa from Dorothy Street Pictures, the producers behind Victoria Beckham doc “Victoria” and Pamela Anderson doc “Pamela: A Love Story.”
Tentatively titled “Tulisa: The Reckoning,” the unscripted series will follow the former pop star and talent show judge as she reflects on her journey, from her humble beginnings to soaring success as the frontwoman for the band N-Dubz, her pivot to “X Factor” judge and the scandal that saw her career come crashing down.
In 2013 an undercover U.K. tabloid journalist nicknamed the “Fake Sheikh” tricked the singer into “setting up a cocaine deal” which saw her arrested and charged. The trial collapsed after the journalist was found to have tampered with evidence (he was later convicted of perverting the course of justice).
Tulisa later revealed she had been entrapped by the journalist, who claimed he could bag her a role in a movie worth £3.5 million.
Although she was never convicted, Tulisa lost endorsements and jobs, including the “X Factor” gig and effectively disappeared from public life.
As well as telling her story, the three-part docuseries will follow the singer’s campaign for media regulation.
“This isn’t just a story of survival, it’s a reckoning,” reads the synopsis for the docuseries. “After years of reflection, Tulisa is ready to confront and change the system that once brought her down.”
Tulisa says of the project: “For years, so much has been said about me, but not always by me. This series is about taking back control of my story and speaking openly about everything I’ve been through, not just for myself, but for anyone who’s had similar experiences in the media spotlight.”
“Tulisa: The Reckoning” (working title) is set to land on Paramount+ in 2026.
World
Trump gets major win against China in African rare earth minerals race
NEWYou can now listen to Fox News articles!
JOHANNESBURG — In what’s being hailed as a major win for the Trump administration against Chinese domination of the rare earth minerals market, the U.S. has supported an American company, Virtus Minerals, in developing two major mines producing cobalt and copper in the Democratic Republic of the Congo (DRC).
This is claimed to be the first U.S. rare earth minerals acquisition in the African nation since President Donald Trump announced the Washington Accord last December.
Historically, China has been the heavy lifter of these metals. The Strategic Studies Institute reported that 80% of the world’s cobalt is produced in the DRC — and 80% of that is controlled by China. Cobalt, used in a wide range of applications, from electric cars and mobile phones to military jets, is on the U.S. government’s list of critical minerals. Copper, also on the list, has traditional uses such as piping for plumbing, but is also needed in electronics and the automotive industry.
President Donald Trump attends a signing ceremony with Rwanda’s President Paul Kagame and Democratic Republic of Congo President Felix-Antoine Tshisekedi at the Donald J. Trump Institute of Peace in Washington on Dec. 4, 2025. (Evan Vucci/AP)
During December’s signing at the White House, Trump made clear the administration’s fight to curb Chinese domination of minerals and help American mining companies make a major impact in the DRC. “A great day for Africa, a great day for the world,” Trump said. The accord also aims to bring an end to fighting between the DRC and Rwandan-backed forces, although the Rwandan-supported M23 rebel group have continued their hostile infiltration in the Eastern DRC.
American mining company Virtus is, with U.S. support, claiming to be “the first U.S.-owned operator back in the DRC in more than a decade”, with its investment in Chemaf, a local cobalt and copper producer with two mining operations, one, Étoile, in Lubumbashi and Mutoshi, in Kolwezi. Together it’s planned the mines will produce a combined 75,000 tonnes of copper, and 20,000 tonnes of cobalt a year. The processing plants are currently under development and will come online next year.
Virtus Minerals CEO and Chamaf Chairman. Phillip Braun, the Chargé d’Affaires U.S. Embassy Kinshasa Ian J. McCary, and Chemaf Managing Director Sooryanarayanan Prabhakaran cutting the ribbon of the new mine. (Virtus Minerals / Chemaf)
The minerals will ultimately be exported to the west through the Lobito Corridor to a port in Angola. Lobito is the rail route the U.S. has backed with a $5 billion investment commitment, with, according to a Virtus statement, “the aim of obtaining a secure, auditable copper and cobalt supply chain for the U.S. and its allies.”
THE WEST STILL DOESN’T GRASP THE DANGER OF CHINA’S RARE EARTH ENDGAME
Frans Cronje, president of the Washington-based Yorktown Foundation for Freedom, says the Virtus projects are significant because they show the administration is seriously trying to change the balance in a minerals battle with China.
He told Fox News Digital, “This development signals a more assertive United States effort to compete with China for access to Africa’s critical mineral base, particularly in the Democratic Republic of Congo, where cobalt and copper are strategically vital to global energy and defense supply chains.”
The U.S. and DRC flags fly outside Chemaf’s site in Kolwezi, Democratic Republic of the Congo. (Virtus Minerals / Chemaf)
Cronje added, “China has built deep structural dominance across much of Africa’s resource sector over the past two decades, but U.S.-backed initiatives such as this suggest a shift towards more direct engagement, rather than relying on Chinese-controlled supply routes. This matters because Africa’s vast resource endowment, combined with its geostrategic position along key Atlantic and Indian Ocean corridors, makes it central to future global economic and security competition.”
A State Department spokesperson told Fox News Digital, “President Trump and Secretary Rubio remain firmly committed to supporting U.S. companies that seek to do business in the DRC.”
AFRICAN WAR-TORN NATION INVOKES TRUMP ‘GOLDEN AGE’ FOR MINERALS DEAL IN EXCHANGE FOR BOOTING VIOLENT REBELS
Chemaf’s site in Kolwezi, Democratic Republic of the Congo. (Virtus Minerals / Chemaf)
“The United States government fully supports the efforts of Virtus Minerals,” the spokesperson continued. “This acquisition serves as an initial flagship U.S. investment in the DRC, and sends a clear signal that the U.S. private sector interest is real and will catalyze further investment in alignment with the U.S.-DRC Strategic Partnership Agreement, which positions the DRC to play an integral role in the Trump Administration’s global efforts to secure critical mineral supply chains.”
The spokesperson added that “increased U.S. investment will create quality jobs for American and Congolese workers, foster skills development and support local communities that have long been exploited by the opaque systems constructed and perpetuated by adversarial foreign actors who have controlled the DRC’s critical minerals sector.”
Cobalt and Copper mined from Chemaf’s Etoile site in Lubumbashi, DRC. (Virtus Minerals / Chemaf)
Virtus holds 56 mining licenses in total in the DRC. Phillip Braun, Virtus Minerals CEO and Chemaf chairman, told Fox News Digital, “Our first goal is to bring the Étoile and Mutoshi plants up to full production. From there, we will explore everything Chemaf’s 56 mining permits have to offer — copper, cobalt and other metals like tungsten.”
“None of this would be possible,” Braun added, “without the strong partnership now growing between the United States and the DRC, and the support of leaders in both countries who saw what was possible. We look forward to bringing our two nations closer by building a steady, trusted supply of the minerals we depend on and supporting other American companies that want to invest in the DRC any way we can.”
CLICK HERE TO DOWNLOAD THE FOX NEWS APP
“A more active U.S. presence in these supply chains,” Cronje continued, “would mark a significant rebalancing of influence on the continent, with implications not only for resource access but for broader geopolitical alignment in regions that are becoming increasingly contested.”
Fox News Digital reached out to the DRC government for comment, but did not receive a response.
-
World2 minutes agoIceland kills first whales since 2023, resuming whaling
-
News25 minutes agoODNI under Pulte fires 6 staff, sends 45 back to home agencies
-
Los Angeles, Ca2 hours agoAir quality concerns remain as the Boyle Heights warehouse fire continues to burn
-
Detroit, MI2 hours agoWenceel Pérez returns home, but when will he return to Detroit Tigers?
-
San Francisco, CA2 hours agoSan Francisco Supervisor Jackie Fielder to return following mental health leave
-
Dallas, TX2 hours ago
Impact: How Jeffery Simmons’ extension could affect Quinnen Williams
-
Miami, FL2 hours ago
Jaylen Brown bidding war? Haslem drove this? All the fallout from Antetokounmpo trade to Miami
-
Boston, MA3 hours agoYour next Uber ride in Boston could be a taxi