Goldman Sachs CEO David Solomon discusses on 'The Claman Countdown' easing trade tensions between China and the U.S. following President Donald Trump and Chinese President Xi Jinping's talks, the impact of tariffs on small businesses and more.

Off the back of the news that China and the United States had agreed on a framework for a trade deal, the Shanghai Composite index extended its year-to-date growth to 22%, marking its highest levels since August 2015. The latest movements underline the strength of China's recovering markets but also highlight its dependence on US trade.

Boosted by policy measures and Chinese artificial intelligence forays, its blue-chip stock index is up by a fifth this year, while the more accessible Hong Kong Hang Seng index is one of the world's top performers this year with 31% gains, bigger than Nasdaq's 23%.

On the industrial front, China's rapid advances in fields from AI and quantum computing to new-energy vehicles and biomedicine are creating expansive market space and cooperation prospects for global capital, technology, goods, and services. This progress is poised to not only meet domestic needs but also facilitate industrial upgrading worldwide.

Goldman Sachs has raised alarm over China’s overwhelming control of rare earth minerals, warning that even minor disruptions in supply could cause massive economic fallout worldwide. The bank highlighted that China currently dominates 69 per cent of global rare earth mining,

Leading banks raise estimates after third-quarter data beats expectations, but some analysts caution more policy support needed.

But the actual strength of the recovery appears fragile for now, given a low comparison base in 2024. Read more at straitstimes.com. Read more at straitstimes.com.

OTTAWA--Group of Seven energy officials are set to unveil government-backed deals as early as Friday that mark a unified effort to accelerate production of critical minerals to counter China's dominance, says Canadian Energy and Resources Minister Tim Hodgson.

But if China can stay on track to meet its economic growth target, no action is still a possibility, analysts say.