The move underscores deepening diplomatic ties in Eurasia, seen as a signal to U.S. President Donald Trump, who has ramped up trade pressure on China while seeking to draw Russia toward ending the war in Ukraine.
North Korean leader Kim Jong Un will join Russian President Vladimir Putin and Chinese President Xi Jinping in a Beijing parade on Sept. 3, marking a show of close ties and diplomacy in Eurasia at a time of crucial negotiations led by the U.S. to set global trade tariffs and end the Ukraine war.
Kim’s guest appearance at the parade, meant to commemorate the 80th anniversary of the end of World War II, was confirmed by North Korea’s official Korean Central News Agency and China’s state-run Xinhua News Agency on Thursday.
The event is a major one on the political calendar for Chinese President Xi, who will be at the center of much of the activity in Tiananmen Square, according to Bloomberg.
“China and the DPRK are friendly neighbors, connected by mountains,” Assistant Foreign Minister Hong Lei said at a briefing Thursday, referring to North Korea by its official name, according to a Bloomberg report.
China has long served as North Korea’s primary supporter, offering crucial economic assistance that has sustained the regime. Washington and its allies have often pressed Beijing to leverage that influence to rein in Kim’s nuclear program.
This would be the first in-person meeting between Kim and Xi since 2019.
U.S. President Donald Trump has also offered to meet with Kim since taking office in January, but a meeting has not materialized yet.
Meanwhile, Trump has repeatedly pushed Russia and Ukraine to end their war; however, a recent summit in Alaska between Trump and Putin did not yield any results. Instead, Trump has stepped up criticism of India and announced higher tariffs on the country for importing high quantities of Russian oil and indirectly supporting Moscow’s war in Ukraine.
The war has also drawn North Korea closer to Russia in recent years; the U.S. and South Korean officials have said that Pyongyang has been supplying weapons and troops to help aid Russia.
For investors, Trump’s tariff policy with respect to China, the world’s biggest technology market and one of the biggest U.S. trading partners, is the central issue to watch.
Businesses and economies on both sides have faced strain; however, with Washington and Beijing easing tariffs and working toward a permanent agreement, markets have improved of late.
The benchmark S&P 500 (SPX) recently hit a record high and is up 10.2% year-to-date. In comparison, iShares MSCI China ETF (MCHI) and tech-focused KraneShares CSI China Internet ETF (KWEB), funds that track Chinese stocks listed in the U.S., have gained 21.2% and 28.7, respectively.
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