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China's pharmaceutical industry wants to play a role in the global market for cancer drugs with innovative biotech start-ups and inexpensive in-house developments. Chinese suppliers are teaming up with European and American partners to open up Western markets. Now, there is hope that the expensive treatment will become cheaper and possibly better because of the new competitive pressure from China.
By Frank Sieren
The G7 countries want to counter China's new Silk Road with their own global infrastructure initiative. Joe Biden organized a considerable majority at the meeting in Cornwall. However, one country is putting on the brakes: Germany. Meanwhile, the seven established industrial nations spoke out in favor of respecting human rights and a free Hong Kong – but left the question of consequences unanswered.
By Felix Lee