QtrendsChina's global financial competitiveness ranking is questioned as calls grow for Shanghai to complement Hong Kong. America marked its 250th Independence Day with Trump-hosted celebrations blending patriotism with political attacks. Iran's new regime diverges sharply from the past as dayslong funerals for slain Supreme Leader Khamenei draw intense global attention, while Erdogan warns Israel against derailing a US-Iran deal. Ukrainian drones struck a St Petersburg oil terminal in the latest long-range attack inside Russian territory.
A proposal argues Shanghai should be developed as a global finance hub because Hong Kong alone is insufficient to meet China's ambitions. This comes as China controversially lowered its own ranking in global financial competitiveness. Meanwhile, fundamental disagreements persist between the US and China over the future direction of their bilateral relationship.
President Trump hosted Independence Day events marking America's 250th birthday, blending ceremonial fireworks and celebration with sharp political rhetoric directed at his opponents. The festivities drew loyal supporters despite being more curtailed than in previous years. The event highlighted the deeply polarized nature of American political life during this milestone anniversary.
Iran's new leadership marks a significant departure from the previous government, though a domestic crackdown on dissent continues. Turkish President Erdogan warned that Israel must not be allowed to sabotage a potential US-Iran nuclear deal. The transition of power in Tehran remains a highly volatile geopolitical development watched closely across the Middle East.
Dayslong funerals have begun in Tehran for Iran's late Supreme Leader Ayatollah Ali Khamenei, who was killed in the ongoing conflict. The ceremonies carry intense political significance as the regime projects continuity and promises of revenge. A performer at the funeral provoked controversy by calling for Trump's death, while the international community watches for signs of Iran's post-Khamenei direction.
Ukrainian drones successfully struck an oil terminal and nearby port facilities in St Petersburg, marking one of the deepest long-range attacks inside Russian territory since the war began. The operation demonstrates Ukraine's growing capability to project power far beyond the front lines. The Russian government condemned the attack while Ukraine framed it as retaliation for ongoing strikes on its infrastructure.