“China and the United States have different national conditions , and differences are inevitable. As the world's two largest economies, occasional frictions are normal,” Xi said.

The meeting produced two key outcomes: the U.S. agreed to cut tariffs on Chinese fentanyl-related exports from 20 percent to 10 percent, and both countries signed a one-year agreement on the supply of strategic rare-earth minerals.

The talks come as Beijing and Washington seek to prevent escalating economic disputes from derailing broader bilateral engagement, with both leaders emphasising cooperation over confrontation.

Vietnam and Australia have signed a three-year defence cooperation plan covering 2025–2027. The agreement was reached on August 12 during the 8th Vietnam-Australia Defence Policy Dialogue between Senior Lieutenant General Hoang Xuan Chien and Australia’s Deputy Secretary General of Defence, Hugh Jeffrey. General Chien said cooperation had expanded since March, with progress in training, peacekeeping, military medicine and the defence industry. Both sides also discussed regional security, with Vietnam reiterating its “Four Nos” defence policy and support for peaceful dispute resolution under UNCLOS 1982.

Trump-branded resort in Vietnam raises farmer eviction concerns

Thousands of farmers in Quang Ninh province fear eviction as a 990-hectare resort and golf course project, licensed to the Trump Organisation, moves forward. Developed by the Vietnamese firm Kinhbac City, the project will replace farmland with luxury facilities. Farmers report compensation offers of US$12-30 per square metre, which many deem inadequate. “This land has supported my family for decades,” said Nguyen Thi Huong, who was offered about US$3,200 and rice support. Vietnam’s state land ownership allows reclamation for development, a practice that has often displaced rural communities with limited recourse.

Angola, Vietnam sign 7 deals on energy, defence, media

Angola and Vietnam signed seven agreements on August 7 to expand cooperation in sectors including energy, defence, justice, agriculture, and media. The deals were concluded during Vietnamese President Luong Cuong’s official visit. Key agreements cover oil and gas cooperation, mutual legal assistance, prisoner transfers, and an agricultural action plan. Defence ministries agreed to enhance military collaboration, particularly for veterans, while national broadcasters pledged media exchanges. Angola-Vietnam trade reached US$260 million in 2024, with Angola exporting US$240 million worth of goods and importing US$20.4 million from Vietnam.

No more bank credit growth quotas in 2026

Vietnam will remove credit growth quotas for banks in 2026, replacing them with a market-based mechanism. The State Bank of Vietnam will classify institutions by governance, operational health, and safety indicators, with strict supervision to control inflation and prevent systemic risks. The phased rollout will start with 15–20 top-performing banks. Credit will be prioritised for investment, exports, the digital economy, and green projects. Bad debt resolution, cost reduction, and digital transformation remain key goals. The 2025 credit growth target will be adjusted based on inflation and GDP growth before the full removal of quotas.

Indonesia, Vietnam eye stronger food industry partnership

Vietnam and Indonesia have agreed to deepen cooperation in food production and supply following the “Indonesia–Vietnam Food Security Cooperation Forum” on August 11. The event, organised by the Indonesian Consulate General, VCCI, and partners, aims to promote sustainable development and stable food security. Officials noted bilateral trade reached US$16.7 billion in 2024, up 21.2% year-on-year. Both sides discussed boosting logistics links, including connections between Cai Mep–Thi Vai port and Indonesian ports, to strengthen regional food supply chains.

The United States and Pakistan announced a trade deal Thursday, which Islamabad said would boost investment and reduce tariffs, though exact rates weren’t disclosed. Pakistan's finance ministry called it the start of a new era of economic cooperation across sectors like energy, IT, crypto, and mining. Finance Minister Muhammad Aurangzeb said the agreement reflected broader strategic goals beyond trade. Previously facing a possible 29% tariff, Pakistan secured a suspension ahead of the August 1 trade talks deadline, aiming for better terms than regional competitors like Vietnam (20%) and India (threatened with 25%).

Intel says Pakistan is rebuilding terror camps

Pakistan is allegedly reviving terrorism infrastructure with a new approach, an intelligence report reveals. The Pakistan Army, ISI, and other agencies are reportedly aiding major terror groups in reconstructing at least 13 camps and launchpads destroyed in Operation Sindoor, especially near the Line of Control in PoK and the Jammu border. Sites named include Kel, Shardi, Dudhniyal, Lipa Valley, and Jura, among others. Four launchpads near Jammu — Masroor, Chaprar, and a drone hub in Shakargarh — are also being reactivated using advanced techniques and funding from state entities.

Olympian killed in climbing accident

Olympic gold medallist Laura Dahlmeier died after being struck by falling rocks while climbing Laila Peak in Pakistan’s Karakoram range, officials said Wednesday, July 30. Bad weather delayed rescue efforts, and her body has not been recovered. Her partner survived, and local authorities said any recovery attempt would respect her family’s wishes. An Instagram post stated Dahlmeier did not want anyone to risk their life retrieving her body. German President Steinmeier paid tribute, calling her an “exceptional sportswoman” and recalling awarding her the Silver Laurel Leaf in 2018.

Pakistan keeps key rate unchanged to curb inflation

Pakistan’s central bank kept its key rate at 11% on Wednesday, defying expectations of a cut due to worsening inflation driven by higher energy prices. The State Bank cited rising gas costs and a widening trade deficit as key risks, noting that inflation pressures had intensified. All 15 analysts in a Reuters poll had predicted a rate cut. Central Bank Governor Jameel Ahmad said it was prudent to wait rather than risk reversing a premature easing move.

Pakistan repeats claims of 'resounding success' in Operation Sindoor

Pakistan dismissed India’s Operation Sindoor statements in the Lok Sabha on Wednesday, July 30, as “baseless and provocative,” accusing New Delhi of spreading disinformation and jingoism. It reiterated claims of military success and warned Indian leaders to acknowledge their losses and third-party roles in the ceasefire. Islamabad also alleged India lacked evidence for the Pahalgam attack and failed to meet strategic goals, while praising its military response as decisive.