Geopolitical tensions escalated after a Chinese spy balloon was spotted and shot down over American airspace. The event scuttled a planned trip from U.S. Secretary of State Antony Blinken, which was intended to deescalate tensions between the two countries. The rhetoric continues, as China reiterated its support of Russia while proposing a peace deal to the benefit of its ally. America released intelligence reports while warning China not to provide lethal aid against Ukraine. The risk of continued tensions are sanctions which could inhibit global trade. While Russia has effectively been cut off, China’s economy is still dependent on trading; any stoppage of trade would have effects on the global economy.
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