Global Developments: Trilateral Meeting, Trade Talks, Leadership Crisis, and More
The week of November 9-15, saw major developments in geopolitics, trade, technology and international security across the globe. The US , China and Russia prepared for an unprecedented trilateral meeting in Shenzhen, while Washington and Beijing discussed a proposed $60 billion package of reciprocal tariff reductions. Nvidia faced a leadership crisis after co-founder Jensen Huang stepped down as CEO. Meanwhile, Russia and Ukraine resumed direct peace talks in Abu Dhabi, the UN nuclear watchdog raised concerns over Iran’s nuclear activities, and COP31 opened in Turkiye amid warnings about rising global temperatures. Here are 10 major global developments that shaped the week: US President Donald Trump heads to Asia this week for a historic three-way meeting with Presidents Xi Jinping of China and Vladimir Putin of Russia to talk about their nuclear stockpiles. The three world leaders are set to meet in Shenzhen on November 19, on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit. The meeting would bring together the leaders of the world’s three largest nuclear powers. It could cover the Ukraine war, nuclear arms control, US-China relations and wider security issues. However, expectations of an immediate breakthrough remain uncertain. Analysts quoted by the Associated Press said the meeting could carry greater symbolic importance than produce major policy changes. The US and China held their first meeting under a bilateral economic and trade consultation mechanism on November 13. Discussions covered tariffs, agricultural trade and a proposed reciprocal tariff-reduction arrangement worth $30 billion on each side. The proposed arrangement forms part of a wider $60 billion package of reciprocal tariff cuts. It includes around $17 billion worth of US agricultural products that China imported in 2024. However, the two countries have yet to finalise the arrangement. Reuters reported that China’s Commerce Ministry did not announce a new agreement after the meeting. Agricultural trade remains a key issue. China had committed to purchasing $17 billion worth of US agricultural goods annually through 2028. However, its purchases of American farm products other than soybeans are on track to reach a seven-year low in 2026, according to a Reuters analysis of customs data. Nvidia co-founder Jensen Huang stepped down as the company’s chief executive on November 12, bringing an end to his three decade reign in one of the world’s most valuable technology companies. The resignation followed reports about alleged extramarital relationships, including one involving Alice Huang, a former senior executive at Singapore-based cloud-computing company Megaspeed International. Reports have also raised allegations about Alice Huang’s possible links to Chinese intelligence, but these claims remain unverified. Nvidia’s board appointed Chief Financial Officer Colette Kress as interim CEO and named Harvey C. Jones as board chair while it searches for a permanent successor. Huang’s departure has renewed attention on Nvidia’s position in the US-China technology rivalry. The company supplies advanced graphics processing units (GPUs) used in artificial intelligence systems and data centres. Washington has restricted exports of its most advanced chips to China over concerns about their potential military and national security applications. Huang had supported allowing Nvidia to sell certain advanced chips in China, arguing that controlled sales would help the company compete with domestic Chinese chipmakers. The leadership change has also brought fresh scrutiny to proposed US export-control measures. These include: Nvidia’s board has not publicly linked Huang’s resignation to any specific export-control decision. The company has also said it had no reason to believe its trade secrets or national security had been compromised. Singapore-based cloud-computing company Megaspeed International came under renewed scrutiny over its business operations and possible links to the movement of advanced Nvidia processors to China. The company said on November 15 that Alice Huang officially left on August 30, 2025, and no longer holds any position there. “Megaspeed does not comment on Ms. Huang’s personal and private matters,” the company said in a statement, according to Reuters. It also rejected media reports about its business and supply chain, saying the claims were “not supported by verifiable evidence”. The company said it had hired external legal counsel to conduct an internal investigation. Singapore authorities have separately investigated Megaspeed and several individuals over suspected false declarations involving server purchases and exports. China extended the suspension of certain expanded rare-earth export controls by two months, until January 10, 2027, as Beijing and Washington worked to maintain a trade understanding ahead of the expected Trump-Xi meeting. Reuters reported on November 9 that China’s Commerce Ministry announced the extension without providing further details. China introduced export controls on certain rare earths in April 2025 and expanded them in October that year. The measures covered a wider range of materials and technologies, including some industrial applications and lithium battery technology. Beijing suspended the expanded controls for one year in November 2025 following a meeting between Trump and Xi in South Korea. The latest decision extends the pause. Rare earths are used in electric vehicles, wind turbines, smartphones, defence equipment and advanced electronics. China has a dominant position in the global supply chain for several of these materials, particularly in processing and refining. The extension offers temporary relief to manufacturers dependent on Chinese supplies. However, uncertainty remains over what will happen after January 10, 2027. Bangladesh challenged former prime minister Sheikh Hasina to seek extradition from India if she was serious about returning home. The response followed a request by her lawyers for a new passport and national identity card. Hasina has said she plans to return in December and surrender before a court. She has been living in India since fleeing Bangladesh in August 2024 after a student-led uprising ended her 15-year rule. On November 9, lawyers from London-based Matrix Chambers wrote to Bangladesh’s High Commission in New Delhi seeking fresh travel documents for Hasina. However, Bangladesh’s Home Minister Salahuddin Ahmed said Dhaka had already approached India through diplomatic channels to seek her extradition. On November 10, International Crimes Tribunal Chief Prosecutor Md Aminul Islam said there was no legal basis to issue Hasina a new passport following her conviction and the revocation of her existing document. “If she wishes to return to Bangladesh, she must do so under the Extradition Treaty,” Aminul said, according to Dhaka Tribune. Hasina was sentenced to death in absentia in November 2025 for crimes against humanity over the crackdown on protesters during the 2024 uprising. She has denied wrongdoing and challenged the legitimacy of the trial. However, no confirmed return date or extradition arrangement has emerged yet. Russia and Ukraine held their first direct peace talks in nine months in Abu Dhabi on November 10 and 11, with the US acting as mediator. The discussions covered humanitarian, security and other issues linked to a possible settlement. Ukrainian negotiator Rustem Umerov said the talks would take place in different formats, including a trilateral meeting involving the US and Russia. The negotiations produced an agreement in principle to work towards a major prisoner exchange. US envoy Jared Kushner described it as potentially the biggest humanitarian release of prisoners, although the final numbers were yet to be confirmed. However, the talks did not resolve the main differences between Moscow and Kyiv. Territorial control remained a major obstacle, with Russia demanding recognition of its control over large parts of eastern Ukraine. Kyiv has rejected any settlement that would legitimize the seizure of its territory. The talks reopened a diplomatic channel after months without direct negotiations, but a wider settlement remains uncertain. The 31st UN Climate Change Conference, or COP31, opened in Antalya, Türkiye, on November 9, amid warnings that 2026 is on track to become one of the four warmest years on record. In its State of the Climate Update for COP31, released on November 9, the World Meteorological Organization (WMO) said the 12-year period from 2015 to 2026 was set to be the warmest on record. The organisation estimated that the global average surface temperature from January to September 2026 was about 1.47 degrees Celsius above the 1850-1900 pre-industrial average. The report also highlighted record ocean heat levels and rising global mean sea levels. Preliminary data through July showed a tenth consecutive year of record ocean heat content. The WMO warned that El Nino had intensified since August and could reach record strength by December. The climate pattern can increase the risk of extreme heat, drought and heavy rainfall, with effects potentially continuing into 2027. COP31 will focus on implementing climate commitments, adaptation funding and support for countries most exposed to climate risks. A major disruption in the US air traffic control system caused thousands of flight cancellations and delays after the Federal Aviation Administration (FAA) ordered a nationwide ground stop on November 13. The FAA lifted the ground stop later on Friday, but airlines continued to face operational problems as they worked to restore schedules and reposition aircraft and crew. Transportation Secretary Sean Duffy said the problem was linked to communications equipment and maintenance work involving contractor L3Harris. He said the installation of at least one new router at a remote facility overloaded other communications centres. The disruption affected communications at 17 of the FAA’s 22 en route air traffic control centres. These centres manage aircraft during the cruise portion of their flights. FAA head Bryan Bedford said the ground stop was ordered as a precaution in case any centre lost all communications. He clarified that no facility had gone completely dark. FlightAware data cited by Reuters showed that airlines cancelled more than 9,200 flights and delayed around 7,500 on Friday. On Saturday, cancellations exceeded 6,400 and delays crossed 8,000. Duffy called for $50 billion to upgrade the system, up from an earlier request of $30 billion. Tensions between Iran and the International Atomic Energy Agency (IAEA) increased after the UN nuclear watchdog raised concerns about an underground uranium-enrichment facility at Isfahan. In a confidential report seen by Reuters on November 13, the IAEA said it was “increasingly concerned” that Iran had not allowed inspectors to examine the Isfahan Fuel Enrichment Plant (IFEP), which Tehran declared in June 2025. The agency said it did not know the facility’s exact location or status under international safeguards, or whether it contained nuclear material. Iran had also not provided the facility’s design information. The IAEA had planned to inspect the site on June 13, 2025, but the inspection could not take place after Israel and the US began a 12-day bombing campaign against Iran. The strikes damaged or destroyed several of Iran’s other uranium-enrichment facilities and targeted tunnels at Isfahan. Diplomats have said they believe the declared facility could be located in the tunnel network. The IAEA has also sought information about Iran’s highly enriched uranium stockpile and the condition of nuclear facilities damaged in the attacks. “The Agency’s lack of information about this nuclear material and access to facilities to verify it is a matter of serious proliferation concern,” the report said.
-1794750781870_v.webp&w=3840&q=75)
&w=3840&q=75)
