China pours cold water on bilateral meeting with US defense minister – FT
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Financial Times (FT) came out with news suggesting a standoff between the US and China while turning down the hopes of a meeting among the military officials of the world’s top two economies.
“China has told the US there is little chance of a meeting between the countries’ defense ministers at a security forum in Singapore due to a dispute over sanctions, the latest obstacle to top-level dialogue between the two powers,” said FT.
The news cites difficulties in arranging a meeting of US Defense Secretary Lloyd Austin and China’s new Defense Minister Li Shangfu at the Shangri-La Dialogue security forum in Singapore in June. The reason could be linked to China’s Li being sanctioned by the US in 2018 in relation to Chinese imports of Russian arms when he was serving as a general.
The news challenges market sentiment and weighs on the risk-barometer pair like AUD/USD. That said, the quote remains pressured around 0.6775 after posting multiple failures to cross the 0.6800 mark.
Also read: AUD/USD bulls move in as US Dollar softens on US CPI
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