UAE Non-Oil Business Activity Surges to Nine-Month High in December

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 The United Arab Emirates' non-oil private sector recorded its fastest expansion in nine months in December 2024, buoyed by strong domestic demand and increased business activity, according to the latest S&P Global Purchasing Managers’ Index (PMI) report. PMI Highlights Robust Growth The seasonally adjusted UAE PMI climbed to 55.4 in December from 54.2 in November, signaling robust growth well above the 50.0 threshold that separates expansion from contraction. This marked the third consecutive monthly increase, underscoring sustained recovery in the non-oil sector. Key drivers of growth included a notable rise in new business activity. The new orders subindex rose sharply to 59.3 in December from 58.0 in the previous month, reflecting strong domestic demand. Challenges Amid the Growth While domestic demand flourished, export growth slowed, with the export orders subindex dropping to a seven-month low. Additionally, businesses faced mounting backlogs due to capacity constraints,...

Wang Yi warns against US pushing US-China relations towards a new Cold War

    In a press conference on Sunday, Chinese Foreign Minister Wang Yi, said that US has been infected by a political virus, and warned the US forces from using the coronavirus pandemic to push both the nations "on the brink of a new Cold War". It has come to our attention that some political forces in the US are taking China-US relations hostage and pushing our two countries to the brink of a new Cold War," he told reporters during China's week-long annual parliament session.

Chinese Foreign Minister slammed US for politicisation of a global health emergency and outrightly promoting the so called conspiracy theories, which said that the deadly virus which causes Covid-19 was built in a Chinese laboratory in Wuhan. He accused US politicians of "fabricating rumours" about the virus origin and "stigmatising China".

According to the Washington Post, Wang said, China has no intention to change, still replace, the United States. It is time for the United States to give up its wishful thinking of changing China and stopping 1.4 billion people in their historic march toward modernization.

Wang also offered to diffuse the increasing tensions between two of the worlds largest economies. He said,China is open to working with the international scientific community to look into the source of the virus...At the same time, we believe that this should be professional, fair and constructive."

Wings press conference was in a way China’s official response to US President Donald Trumps recent statement, wherein he openly criticised China over its handling of coronavirus and hinted at cutting-off ties with the Communist nation. Trump during an interview with Fox Business Network broadcast, about two weeks ago, said that he was very disappointed with Chinas failure to control coronavirus outbreak, which turned into a pandemic. His statement was believed to impact the ongoing trade deal with Beijing, which was nearing completion.

US President said, They should have never let this happen. So I make a great trade deal and now I say this doesnt feel the same to me. The ink was barely dry and the plague came over. And it doesnt feel the same to me.
When asked about his next move against China, Trump said: There are many things we could do We could cut off the whole relationship. He added that cutting ties would help US save $500bn, the amount of goods US annually imports from China.

Relations between US and China have been strained since the beginning of trade war, about two years ago and from thereon it only grew from bad to worse. It downgraded to worst with the pandemic outbreak as there emerged vicious conspiracy theories targeted against each other.

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