The Philippines said on Thursday it has terminated talks with China for a joint energy project in the South China Sea (SCS) after President Rodrigo Duterte ordered an end to negotiations. Manila signed an agreement with Beijing in 2018 to cooperate on oil and gas development as a way to benefit from the resources in the waterway while setting aside the territorial dispute. Duterte, who has taken a softer approach to Beijing's claims over most of the sea, allowed Philippine companies to resume drilling off the country in October 2020. It was hoped that his decision to lift a 2014 moratorium

Speaking at a virtual business forum, the Chinese president also questioned the utility of sanctions against Russia. The conflict in Ukraine has “sounded an alarm for humanity,” Chinese leader Xi Jinping has said, but gave no indication on how it could be resolved. Beijing has not condemned Moscow’s invasion of Ukraine on 24 February and has criticised Western-led sanctions on Russia, even as it has sought to maintain its relationship with Ukraine.  “The Ukraine crisis has again sounded the alarm for humanity. Countries will surely end up in security hardships if they place blind faith in

China will host the 14th BRICS Summit on Thursday in what analysts see as a chance for Beijing to promote its governance and development model at a time of global instability. Chinese President Xi Jinping will join with the leaders of Brazil, India, Russia and South Africa via video link to discuss issues of mutual concern as part of the summit themed around ushering in a “new era” for global development.  Ahead of the summit in Beijing, Chinese state media have praised the BRICS – an acronym for the five emerging economies that together account for about one-quarter of the global economy