MNI China Daily Summary: Thursday, July 4

MNI BRIEF: China Has Four Months To Negotiate EU EV Agreement

RPT-MNI INTERVIEW: ISM Choppiness Not A Clear Signal For Worry

MNI: PBOC Net Drains CNY98 Bln Via OMO Thurs; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1305 Thurs; -0.79% Y/Y

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

DMP survey increases probability of August cut

MNI: UK JUNE CONSTRUCTION PMI 52.2 (FCST: 54.0); MAY 54.7

MNI: EUROZONE JUNE CONSTRUCTION PMI 41.8; MAY 42.9

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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Biden-Working w/Congress To Invest USD40bn In Pacific Island Infra

WHITE HOUSE

Speaking at a meeting of Pacific Islands national leaders hosted at the White House, US President Joe Biden states that his administration is "working with Congress to invest USD40bn in Pacific Island infrastructure." Adds that the "US is committed to a free, open, prosperous and secure Indo-Pacific region." The prospect of a full USD40bn package of infrastructure projects being invested in the geographically vast region remains slim, though, given the difficulty the administration has in getting much more high-profile commitments, such as Ukraine aid, through Congress.

  • Livestream: https://www.youtube.com/watch?v=uk2Fzh3JmPY
  • The forum of leaders comes amid US efforts to re-engage with the nations of the Pacific. The shift in the diplomatic relations of the Solomon Islands in a much more pro-Beijing direction caused significant concern in Washington, D.C., The establishment of diplomatic relations with the Cook Islands and Niue, two nations of 17k and 1k people respectively, highlights this effort.
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