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BEIJING US Secretary of State Antony Blinken met Chinese President Xi Jinping on Monday afternoon, wrapping up his two-day trip to Beijing aimed at improving frayed ties between the two superpowers.

During the meeting at the cavernous Great Hall of The People, Mr Xi, who sat at the head of a large meeting table, told Mr Blinken that it was very good that both sides have reached an agreement on specific issues.

The two sides have had candid and in-depth discussions, Mr Xi said at the start of the meeting in comments broadcast on Chinese state television.

State-to-state interactions should always be based on mutual respect and sincerity, Mr Xi said. I hope that through this visit… you will make more positive contributions to stabilising China-US relations.

The meeting was the first time a US secretary of state has met the Chinese leader since 2018, and it could help to facilitate a summit between Mr Xi and US President Joe Biden later in the year.

During the meeting, Mr Xi repeatedly emphasised that there is room for both China and the US to prosper, and that the Beijing-Washington relation has a bearing on the future and destiny of mankind.

Both countries should properly handle bilateral relations with an attitude of being responsible to history, their citizens, and the world, contribute to global peace and development, and inject stability, certainty, and constructiveness in a turbulent world, he said in comments published on Chinese state media.

China always hopes that China-US relations will be healthy and stable, and believes that the two major countries can overcome all difficulties and find the correct way to get along with each other, featuring mutual respect, peaceful coexistence, and win-win cooperation, he said, adding that neither side can shape the other.

Earlier on Monday, Mr Blinken met Chinas top diplomat Wang Yi, who said that US-China relations have reached a critical point where a choice has to be made between cooperation and conflict.

In a meeting lasting three hours, Mr Wang, who ranks above Foreign Minister Qin Gang, blamed strained ties on the United States holding an erroneous perception of China, and urged Washington to stop thinking that a strong country must be hegemonic.

The two men met on Monday morning at the Diaoyutai State Guesthouse where Chinese leaders host foreign dignitaries, in a meeting aimed at improving already frayed relations that plummeted further when the US in February shot down an alleged Chinese spy balloon that floated into American airspace.

The row erupted just before Mr Blinkens planned trip to Beijing that month, forcing him to postpone a much-needed visit to mend ties.

A Foreign Ministry statement on Monday quoted Mr Wang telling Mr Blinken that the US should reflect deeply and work with Beijing to manage differences.

The trough in Sino-US relations is rooted in the US erroneous perception of China, which leads to wrong policies towards China, said Mr Wang, who is director of the Communist Party of China Central Committee Foreign Affairs Commission.

Mr Blinken is the most senior US official to visit China since Mr Biden took office. US Secretary of State Antony Blinken (second from left) at a meeting with top Chinese diplomat Wang Yi (second from right) at the Diaoyutai State Guesthouse in Beijing on June 19. PHOTO: REUTERS Beijing has described ties as being in their worst state since diplomatic ties were established more than four decades ago.

Mr Wangs comments echo those made by Mr Qin on Sunday during a meeting with Mr Blinken that went on for more than five hours.

The Sunday talks were candid, substantive and constructive, said a statement from the US State Department, which added that Mr Blinken had told Mr Qin that Washington does not wish to decouple from China.

The Secretary emphasised the importance of diplomacy and maintaining open channels of communication across the full range of issues to reduce the risk of misperception and miscalculation, said State Department spokesman Matthew Miller.

Both sides had committed to stabilising relations and to prevent competition from veering into conflict. More On This Topic China calls on US to meet it halfway amid frosty ties Low hopes for US-China breakthrough on Blinken visit Calling on Washington to meet Beijing halfway to improve ties, Mr Qin also reiterated that Taiwan is the most consequential issue and the most pronounced risk in bilateral relations, according to a Chinese Foreign Ministry statement on the Sunday meeting.

Beijing views the self-ruling island as its territory that has to be reunified with it, whereas the US is committed to helping Taiwan defend itself in case of an invasion.

Mr Wang, in his Monday meeting with Mr Blinken, also restated Chinas red line over Taiwan, warning the US that China has no room for compromise or concession.

Mr Wang also protested against US sanctions against China and what he said was a suppression of its technological development. US Secretary of State Antony Blinken (left) meeting Chinas top diplomat Wang Yi at the Diaoyutai State Guesthouse in Beijing on June 19, 2023. PHOTO: AFP Besides Taiwan and the ongoing tech rivalry that has seen the US restrict Chinese access to advanced semiconductor chips and manufacturing equipment, Beijing and Washington disagree on a wide range of other issues, including trade.

This has kept expectations of any deliverables from Mr Blinkens visit low.

Last November, Mr Biden and M Xi held a long-awaited face-to-face meeting on the sidelines of a Group of 20 summit on the Indonesian island of Bali, engaging in talks on Taiwan and North Korea. They also pledged more frequent communication between Washington and Beijing.

There are hopes that Mr Blinkens visit will help reset bilateral relations to be more constructive, rather than the confrontational stance seen in recent months. Remote video URL More On This Topic Enough channels of communication, but insufficient political will to resolve China-US conflict: Cui Tiankai The risks of US and China talking past each other Your browser does not support iframes, but you can use the following link: Link

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Science

Crystalline Ice Discovered in Space: New Study Reveals Hidden Order in Cosmic Ice

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Crystalline Ice Discovered in Space: New Study Reveals Hidden Order in Cosmic Ice

Water ice coats many outer solar system bodies – from Jupiter’s icy moon Ganymede (above) to interstellar dust. On Earth, ice freezes into a neat crystal lattice, but in the deep cold of space it was assumed to form a completely amorphous (glassy) solid. A new study by University College London and Cambridge scientists challenges this picture. Their computer simulations and X-ray tests on cosmic “low-density” ice suggest it actually contains tiny crystalline grains. In some models roughly 20–25% of the ice was in crystal form, overturning the long-held view that space ice is entirely structureless.

Simulations reveal hidden nanocrystals

According to the paper, computer simulations of space ice showed it contains nanocrystals. In one approach, researchers cooled virtual water to –120 °C at different rates to form model “ice cubes.” Depending on the cooling speed, the simulated ice ranged from fully amorphous to partly ordered. Structures with roughly 16–19% of the molecules in tiny crystal clusters best matched published X-ray data for low-density ice. In another simulation, thousands of nanometer-sized ice grains were packed together and then the remaining water molecules were randomized. This produced ice about 25% crystalline, yet still reproduced the known diffraction pattern.

In laboratory experiments the team also made actual low-density amorphous ice by vapor deposition and gentle compression. When these samples were slowly warmed to crystallize, the resulting ice showed a “memory” of its formation method.

Implications for planets and origins of life

The findings give “a good idea of what the most common form of ice in the Universe looks like at an atomic level,” which is important for models of planet and galaxy formation. They also bear on theories of life’s origins. Partly crystalline ice has less internal space to trap organic molecules, potentially making it a less efficient vehicle for amino acids or other prebiotic compounds. However, Dr. Davies notes that pockets of fully amorphous ice still exist, so cosmic dust grains and cometary ices could continue to harbor organic ingredients in those disordered regions.

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Business

Chancellor Rachel Reeves considering ‘changes’ to ISAs – and says there’s too much focus on ‘risk’ in investing

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Chancellor Rachel Reeves considering 'changes' to ISAs - and says there's too much focus on 'risk' in investing

The chancellor has confirmed she is considering “changes” to ISAs – and said there has been too much focus on “risk” in members of the public investing.

In her second annual Mansion House speech to the financial sector, Rachel Reeves said she recognised “differing views” over the popular tax-free savings accounts, in which savers can currently put up to £20,000 a year.

She was reportedly considering reducing the threshold to as low as £4,000 a year, in a bid to encourage people to put money into stocks and shares instead and boost the economy.

However the chancellor has shelved any immediate planned changes after fierce backlash from building societies and consumer groups.

In her speech to key industry figures on Tuesday evening, Ms Reeves said: “I will continue to consider further changes to ISAs, engaging widely over the coming months and recognising that despite the differing views on the right approach, we are united in wanting better outcomes for both savers and for the UK economy.”

She added: “For too long, we have presented investment in too negative a light, quick to warn people of the risks, without giving proper weight to the benefits.”

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Rachel Reeves’s fiscal dilemma

Ms Reeves’s speech, the first major one since the welfare bill climbdown two weeks ago, appeared to encourage regulators to focus less on risks and more on the benefits of investing in things like the stock market and government bonds (loans issued by states to raise funds with an interest rate paid in return).

She welcomed action by the financial regulator to review risk warning rules and the campaign to promote retail investment, which the Financial Conduct Authority (FCA) is launching next year.

“Our tangled system of financial advice and guidance has meant that people cannot get the right support to make decisions for themselves”, Ms Reeves told the event in London.

Read more:
Should you get Lifetime ISA? Two key issues to consider
Building societies protest against proposed ISA reforms
Is there £15bn of wiggle room in Reeves’s fiscal rules?

Last year, Ms Reeves said post-financial crash regulation had “gone too far” and set a course for cutting red tape.

On Tuesday, she said she would announce a package of City changes, including a new competitive framework for a part of the insurance industry and a regulatory regime for asset management.

Please use Chrome browser for a more accessible video player

Reeves is ‘totally’ up for the job

In response to Ms Reeves’s address, shadow chancellor Sir Mel Stride said: “Rachel Reeves should have used her speech this evening to rule out massive tax rises on businesses and working people. The fact that she didn’t should send a shiver down the spine of taxpayers across the country.”

👉Listen to Politics at Sam and Anne’s on your podcast app👈  

The governor of the Bank of England, Andrew Bailey, also spoke at the Mansion House event and said Donald Trump’s taxes on US imports would slow the economy and trade imbalances should be addressed.

“Increasing tariffs creates the risk of fragmenting the world economy, and thereby reducing activity”, he said.

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Politics

Chancellor Rachel Reeves considering ‘changes’ to ISAs – and says there’s too much focus on ‘risk’ in investing

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Chancellor Rachel Reeves considering 'changes' to ISAs - and says there's too much focus on 'risk' in investing

The chancellor has confirmed she is considering “changes” to ISAs – and said there has been too much focus on “risk” in members of the public investing.

In her second annual Mansion House speech to the financial sector, Rachel Reeves said she recognised “differing views” over the popular tax-free savings accounts, in which savers can currently put up to £20,000 a year.

She was reportedly considering reducing the threshold to as low as £4,000 a year, in a bid to encourage people to put money into stocks and shares instead and boost the economy.

However the chancellor has shelved any immediate planned changes after fierce backlash from building societies and consumer groups.

In her speech to key industry figures on Tuesday evening, Ms Reeves said: “I will continue to consider further changes to ISAs, engaging widely over the coming months and recognising that despite the differing views on the right approach, we are united in wanting better outcomes for both savers and for the UK economy.”

She added: “For too long, we have presented investment in too negative a light, quick to warn people of the risks, without giving proper weight to the benefits.”

Please use Chrome browser for a more accessible video player

Rachel Reeves’s fiscal dilemma

Ms Reeves’s speech, the first major one since the welfare bill climbdown two weeks ago, appeared to encourage regulators to focus less on risks and more on the benefits of investing in things like the stock market and government bonds (loans issued by states to raise funds with an interest rate paid in return).

She welcomed action by the financial regulator to review risk warning rules and the campaign to promote retail investment, which the Financial Conduct Authority (FCA) is launching next year.

“Our tangled system of financial advice and guidance has meant that people cannot get the right support to make decisions for themselves”, Ms Reeves told the event in London.

Read more:
Should you get Lifetime ISA? Two key issues to consider
Building societies protest against proposed ISA reforms
Is there £15bn of wiggle room in Reeves’s fiscal rules?

Last year, Ms Reeves said post-financial crash regulation had “gone too far” and set a course for cutting red tape.

On Tuesday, she said she would announce a package of City changes, including a new competitive framework for a part of the insurance industry and a regulatory regime for asset management.

Please use Chrome browser for a more accessible video player

Reeves is ‘totally’ up for the job

In response to Ms Reeves’s address, shadow chancellor Sir Mel Stride said: “Rachel Reeves should have used her speech this evening to rule out massive tax rises on businesses and working people. The fact that she didn’t should send a shiver down the spine of taxpayers across the country.”

👉Listen to Politics at Sam and Anne’s on your podcast app👈  

The governor of the Bank of England, Andrew Bailey, also spoke at the Mansion House event and said Donald Trump’s taxes on US imports would slow the economy and trade imbalances should be addressed.

“Increasing tariffs creates the risk of fragmenting the world economy, and thereby reducing activity”, he said.

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