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Real-time News
On May 8, 2026, Wang Yi, member of the Political Bureau of the CPC Central Committee and Director of the Office of the Central Foreign Affairs Commission, held talks in Beijing with Bonne, Foreign Affairs Advisor to the French President. Wang Yi stated that the foundation of China-France relations is solid political mutual trust, and the key is mutual respect for each others core interests. He hoped that France would take concrete actions to uphold the one-China principle, refrain from any form of official exchanges with the Taiwan authorities, and avoid sending any wrong signals to the "Taiwan independence" separatist forces. Chinas policy towards Europe has been consistent; it has always viewed Europe as an important pole in a multipolar world and supports European integration and the development and growth of the EU. China and the EU have always been partners, not adversaries. He hoped that France, as an important EU member state, would play a positive and constructive role, promote a correct and rational understanding of China within the EU, adopt pragmatic and open trade and economic policies towards China, and clear obstacles for the long-term, healthy, and stable development of China-EU relations.US military: The US has imposed a mandatory blockade on two Iranian oil tankers.On May 8th, U.S. consumer confidence fell to a new record low in recent weeks as consumers worried about the impact of inflation on their personal finances and purchasing power. Data from the University of Michigan showed that the preliminary consumer confidence index for May fell to 48.2 from 49.8 in April. Consumers expect annual price growth of 4.5% over the next year, a slight decrease from the previous month; their long-term inflation expectations for the next 5 to 10 years are 3.4%. Consumer confidence remains low due to growing anxiety about the overall cost of living, coupled with a sharp rise in gasoline prices. Data from the American Automobile Association (AAA) showed that the average U.S. gasoline price this week exceeded $4.50 per gallon for the first time since July 2022, and has risen by more than 50% since the start of the Iran-Iraq War. Joanne Hsu, the surveys director, stated, "About one-third of consumers actively mentioned gasoline prices, and about 30% mentioned tariffs. Overall, consumers continue to feel the impact of cost pressures, with the most significant driving factor being soaring gas station prices." The preliminary current conditions index for May fell to 47.8, a record low; the expectations index, however, rebounded for the first time since January. Consumers assessment of their current financial situation has fallen to its lowest level since 2009, and the criteria for purchasing has also dropped to a five-month low.The preliminary reading of the US one-year inflation rate in May was 4.5%, compared to a forecast of 4.8% and a previous reading of 4.70%.The preliminary reading of the University of Michigan Consumer Sentiment Index for May was 48.2, below the expected 49.5 and the previous reading of 49.8.
