China and Australia will keep open dialogue and look for areas of cooperation despite strategic competition in the Indo-Pacific region, Australia's Prime Minister Anthony Albanese said on Tuesday after meeting China's President Xi Jinping in Beijing.

In the past few years, annual bilateral trade was worth around $210 billion, Li noted, underlining that there is great potential for further expansion. China's vast market will continuously unleash immense consumption potential, creating more opportunities for enterprises from both countries, he added.

Beijing’s rare earth curbs turned chips into leverage – paving the way for concessions that could reset ties, analysts say.

NATO Secretary General Mark Rutte issued a stark warning on Wednesday, saying that countries like Brazil, China, and India could face severe secondary sanctions if they continue trade relations with Russia.

India and China must resolve friction along their border, pull back troops and avoid "restrictive trade measures" to normalise their relationship, India's foreign minister told his Chinese counterpart in Beijing on Monday.

Democrats on the Senate Foreign Relations Committee accused the Trump administration of “ceding global leadership to China,” citing the trade war and a retreat from international engagement through cuts to foreign aid and media agencies.

Since US President Donald Trump – just days into his second term – began imposing tariffs on China for its role in the flow of deadly opioids like fentanyl into the United States, Beijing’s message has been clear.

"The EU and China are broadly on a colliding trajectory in terms of their trade and industrial policy concerns," he told CNBC. Bones of contention include the challenge of China's overcapacity and trade diversion to Europe, Stec, who is also head of the Mercator Institute's Brussels office, explained.

President Donald Trump has ordered Republicans to get behind a new bill headed to the House on Tuesday, which he says will put the United States "lightyears ahead of China, Europe, and all others."