PolicyTrade

Diplomatic Tensions Rise as China Condemns UK Spy Allegations

China has denounced British politicians for allegedly smearing the country over a collapsed espionage prosecution. Meanwhile, former Trump adviser John Bolton faces indictment and Starbucks considers a $4 billion China stake sale. Financial markets show shifting risk appetites as regional bank concerns resurface.

China-UK Diplomatic Row Intensifies Over Espionage Case

Beijing has launched a strong condemnation of what it characterizes as British efforts to “smear and defame China” regarding a recently collapsed espionage case, according to reports from the Financial Times. The Chinese embassy in London reportedly issued warnings to the UK government to cease actions that could undermine bilateral relations.