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Global Geo-political Series: China’s Xi recognizes east Jerusalem as Palestine’s capital countering Trump’s decision; announces aid

After U.S. President Donald Trump announced that the United States is recognizing the city of Jerusalem, which is historically important to Muslims, Christian and Jews as the capital of Israel on Wednesday triggering global outcry, Chinese President Xi Jinping called on Thursday for the establishment of Palestine as a sovereign state with East Jerusalem as its capital.

Speaking to the Arab League in Cairo while on a tour of the region, Xi said China supports the peace process in the Middle East and backs a Palestinian state along the pre-1967 lines with Israel. He announced billions of dollars in special loans and investments in the Middle East, as Beijing seeks to boost its economic ties with the region. He offered $55 billion in loans and investments to the Middle East; $15 billion as special loans for industrial projects in the Middle East, $10 billion would be provided as commercial loans to boost cooperation in the energy sector, $10 billion will be offered as preferential loans, and establishment of a common investment fund worth $20 billion for Qatar and the United Arab Emirates.

Xi also said his country would provide $7.6 million to the Palestinians in support of a new solar power project.

 

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December 18 09:00 UTC Released

ITGlobal Trade Balance*

Actual

4.953 Bln EUR

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Previous

3.99 Bln EUR

December 18 09:00 UTC Released

ITTrade Balance EU*

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0.666 Bln EUR

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0.469 Bln EUR

January 9 11:00 UTC 3179431794m

BRRetail Sales MM*

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Forecast

0.35 %

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January 9 11:00 UTC 3179431794m

BRRetail Sales YY*

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Forecast

3.20 %

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January 9 11:00 UTC 3179431794m

BRRetail Sales YY*

Actual

Forecast

3.20 %

Previous

January 9 11:00 UTC 3179431794m

BRRetail Sales YY*

Actual

Forecast

3.20 %

Previous

January 9 11:00 UTC 3179431794m

BRRetail Sales MM*

Actual

Forecast

0.35 %

Previous

January 9 11:00 UTC 3179431794m

BRRetail Sales YY*

Actual

Forecast

3.20 %

Previous

December 12 09:30 UTC 86178617m

GBRPIX YY

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Forecast

Previous

4.2 %

December 12 09:30 UTC 86178617m

GBPPI Input Prices MM NSA

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Forecast

Previous

1 %

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