Welcome to Axios World, where two evenings a week we break down what you need to know about the big stories from around the globe. We're off on Thursday, so have a wonderful Thanksgiving.
Illustration: Aïda Amer/Axios
The case that the U.S. and China are entering an era defined by hostility and competition was bolstered this weekend when an annual gathering of Pacific Rim countries turned into a standoff between Washington and Beijing.
Why it matters: So deep do the distrust and divisions run that the 30th Asia-Pacific Economic Cooperation (APEC) summit was the first to end without a joint statement from the 21 participants. If economic barricades go up, and stay up, countries could be forced to choose between the globe’s two economic giants. “The entire world is worried," the summit's host, Prime Minister Peter O’Neill of Papua New Guinea said, per the NYT.
That question is being vigorously debated in both Beijing and Washington, including earlier this month at Brookings:
As the debate rages, both countries are already working to reduce their economic interdependency, particularly when it comes to tech, notes Benjamin Charlton of Oxford Analytica:
All of this sets the stage for Trump and Xi's first meeting since the trade war kicked off, to be held at the G20 (Nov. 30–Dec. 1 in Buenos Aires).
What to watch: Ali Wyne of the RAND Corporation argues in Foreign Affairs that there are major national security implications to an economic decoupling: "A China less constrained by and invested in economic ties with the United States could pose a substantially greater challenge to U.S. foreign policy."
Richard Liu. Photo: Photo: VCG/Getty Images
Richard Liu, the billionaire CEO of JD.com who is facing a rape accusation in Minnesota, said today that he will shift his primary responsibilities away from the Chinese giant's main e-commerce arm, instead focusing on the company's "new businesses."
Nissan Chairman Carlos Ghosn has been arrested on allegations of under-reporting his income to the Tokyo Stock Exchange "over many years" and utilizing company assets for personal use.
Those developments come a week after Binny Bansal resigned as CEO of Indian online retailer Flipkart, following an investigation into his behavior.
Illustration: Lazaro Gamio/Axios
It has been 48 days since Washington Post columnist Jamal Khashoggi entered the Saudi consulate in Istanbul. The CIA has reportedly concluded that Crown Prince Mohammed bin Salman (MBS) ordered his assassination.
President Trump says such statements are premature. In fact, he told Fox News' Chris Wallace, in an interview that aired Sunday, that we may never know whether MBS was responsible, and "I want to stick with an ally that in many ways has been very good."
Germany, meanwhile, will halt all arm sales to Saudi Arabia and ban the 18 Saudi suspects linked to Khashoggi's murder from entering the EU's borderless Schengen Zone, Reuters reported today.
Saudi King Salman made his first public remarks since the crisis began today. He didn't mention Khashoggi.
Editor's note: This story was corrected to show that neither France nor the U.K. have agreed to halt sales of weapons to Saudi Arabia.
Netanyahu with Trump at the White House in March. Photo: Olivier Douliery-Pool/Getty Images
Israel is expected to withdraw from the UN Global Compact on Migration after requests from the U.S. and Hungary, Israeli officials tell Axios contributor Barak Ravid.
The news comes a day after Netanyahu announced he'd take over the role of defense minister after Avigdor Lieberman resigned in opposition to a ceasefire with Palestinian militants in Gaza.
For your radar: Trump will hold a meeting this week to make decisions on his Middle East peace plan and when to roll it out, Ravid scooped yesterday.
Mr. Prime Minister, where are you going? Photo: Robert Atanasovski/AFP/Getty Images
Macedonia has summoned Hungary's ambassador to demand the return of fugitive former Prime Minister Nikola Gruevski, AP reports.
I wasn't the only American in Uruguay this week. With presidential elections coming up next year, a businessman turned politician has brought in Rudy Giuliani's company to advise him on how to fight crime.
"Take the case of a man we arrested accused of 3 or 4 crimes ... are we being fair if, for example, we put him in jail for 10 years? Someone will say 'oh, for God's sake, why 10 years?' I will tell you why. There is a point at which the person becomes a professional criminal. When he is not in jail, what will he do? He is not going to become a librarian."
My thought bubble:
A scene from Montevideo, where I spent the past five sun-soaked days. Photo: Yours Truly
“I mentioned [to] him that Finland is a land covered by forests and we also have a good monitoring system and network."— Finland's president, denying that he and Trump discussed "raking" forests to prevent fires.
Thanks for stopping by — have a great Thanksgiving, and I'll see you next week!