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China warns of "robust" response if U.S. boycotts Beijing Olympics

The Chinese government on Wednesday warned the U.S. that it would respond strongly if Washington boycott's next year's Winter Olympics set to be held in Beijing, AP reports.

Driving the news: The message comes after a State Department spokesman said at a briefing Tuesday that a joint boycott by the U.S. and its allies "is something that we certainly wish to discuss," in response to a question about how to punish China for what observers have described as a genocide against Muslim minorities in Xinjiang.


  • "[W]hat the United States does is meaningful, what the United States does will have impact," State Department spokesman Ned Price told reporters Tuesday.
  • A State Department official later walked the comments back, insisting that "we have not discussed and are not discussing any joint boycott with allies and partners."

Chinese Foreign Ministry spokesperson Zhao Lijian denied abuses against the region's Uyghur population, and promised a “robust Chinese response” against a potential boycott.

  • “The politicization of sports will damage the spirit of the Olympic Charter and the interests of athletes from all countries,” Zhao said. “The international community including the U.S. Olympic Committee will not accept it.”

Go deeper: New geopolitical fears surround 2022 Beijing Olympics

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Warren Buffett resigns from Gates Foundation board

The Bill and Melinda Gates Foundation — the second-largest philanthropy in the world — is now governed by just two trustees, after Warren Buffett announced on Wednesday that he had resigned his position there.

Why it matters: The two remaining trustees, Bill Gates and Melinda French Gates, are going through a divorce.

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How institutions that control vast wealth fall through U.S. regulatory cracks

Financial regulation is not exactly simple anywhere in the world. But one country stands out for the sheer amount of complexity and confusion in its regulatory regime — the U.S.

Why it matters: Important companies fall through the cracks, largely unregulated, while others contend with a vast array of regulatory bodies, none of which are remotely predictable.

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