China's Xi Jinping says 'open world economy' is essential to recovery

Yahoo Finance's Akiko Fujita breaks down the top stories around the world.

Video transcript

AKIKO FUJITA: In our worldview today, Chinese President Xi Jinping is warning countries against weakening their dependence on China. Speaking to business leaders at the Boao Forum in Hainan, Xi called for cooperation and reiterated the country's vow to open the Chinese economy to foreign businesses. But he criticized countries for building barriers. Although he didn't single out the US, Xi said attempts to erect walls or decouple would hurt other interests without benefiting oneself.

The European Union has expanded sanctions against Myanmar as regional leaders prepare to discuss the growing bloodshed in the country. The latest sanctions target two military-controlled companies and 35 individuals, banning them from doing any business with the EU. Meanwhile, leaders from neighboring Southeast Asian countries are set to gather at a summit in Jakarta Saturday to address the growing unrest. Security forces have killed more than 730 people since the military coup in February.

And over in India, COVID-19 infections hit another record Monday with nearly 274,000 new cases reported. More than 1,600 people died with hospitals out of capacity and a shortage of medical supplies. Crematoriums and major cities are now reporting more burials. The official death toll suggesting the situation is much worse than the government suggests. India now has the highest COVID-19 case counts globally after the US.

Coming up, we are continuing our week-long coverage, Planet in Crisis, with a focus on nuclear energy. Dr. Jose Reyes from Nuscale Power joins us after this short break.