Month: January 2024

Film Documents Plight of Japan’s Single Mothers

Media Library

TOKYO —  The women work hard, sleeping only a few hours a night, as they juggle the demands of caring for their children and doing housework — all while suffering from poverty. The award-winning independent documentary film The Ones Left Behind, released last year, tells the story of such single mothers in Japan, weaving together interviews with the women and experts, and showing the other side of a culture whose ideal is for women to get married and become stay-at-home housewives and mothers. “This is a topic that no one…

Chinese courts to rule on Hong Kong commercial disputes under new law

Media Library

A new law giving Chinese courts the authority to enforce rulings in commercial disputes in Hong Kong comes into effect on Monday, further reducing the barriers between the Hong Kong and Chinese legal systems. The law puts into effect an agreement signed between China’s supreme people’s court and the government of Hong Kong in 2019 and is designed to reduce the need for re-litigation in civil and commercial disputes, in cases where there is a connection to mainland China. However, concerns have been raised that the law will tarnish Hong…

Great power lite? Why China is reluctant to wade into the Red Sea crisis and join US-led attacks on Houthis

Media Library

In response, a US-led coalition of more than 20 countries ranging from Britain to Bahrain has banded together to safeguard commercial traffic in the Red Sea, including launching air strikes against the Houthis. Instead, Beijing’s approach has been to call for an end to the attacks on the ships and express concern over the escalating situation. Observers say China’s cautious response is consistent with its general approach to Middle East crises and is unlikely to change unless the attacks dent its trade and commercial interests. But, they say, the caution…

How These Young People Got Their Jobs in China’s Tough Job Market

Media Library

They knew the job market would be tough. None were prepared for just how tough it proved to be. China’s economy is struggling through a sustained slowdown, with real estate developers mired in debt, families fearful of spending and entrepreneurs hesitating to take risks. Joblessness levels among young people have hit record highs. We spoke to five young Chinese about what it took to find their jobs amid such uncertainty. They described moving home with their parents, exhausting their savings, taking on unpaid internships or working two jobs. They also…

Russia’s planned gas pipeline to China hit by construction delay

Media Library

Stay informed with free updates Simply sign up to the Energy sector myFT Digest — delivered directly to your inbox. Construction on the Kremlin’s long-planned mega-pipeline connecting Russia’s western gasfields with China is expected to be delayed, the prime minister of Mongolia has warned, in a blow to Moscow’s plans to secure a new market for the gas it previously sold to Europe. The so-called Power of Siberia 2 pipeline, which will cross Mongolian territory, has been a priority for Moscow for more than a decade but gained even greater…

Canon aims to ship low-cost ‘stamp’ machine this year to disrupt chipmaking

Media Library

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Canon hopes to start shipments of new low-cost chipmaking machines as early as this year, as the Japanese company best known for its cameras and printers tries to undercut longtime industry leader ASML in providing the tools to make leading-edge semiconductors. The challenge from Canon comes as western governments attempt to restrict China’s access to the most advanced semiconductor technologies and as global demand for chipmaking machines has soared. If successful, Canon’s…

Russia’s planned gas mega-pipeline to China hit by construction delay

Media Library

Stay informed with free updates Simply sign up to the Energy sector myFT Digest — delivered directly to your inbox. Construction on the Kremlin’s long-planned mega-pipeline connecting Russia’s western gasfields with China is expected to be delayed, the prime minister of Mongolia has warned, in a blow to Moscow’s plans to secure a new market for the gas it previously sold to Europe. The so-called Power of Siberia 2 pipeline, which will cross Mongolian territory, has been a priority for Moscow for more than a decade but gained even greater…

Federal Reserve’s decision this week could be the prelude to a March interest rate cut

Media Library

On one hand, inflation numbers continue to surprise to the downside. The Fed’s preferred gauge decelerated to 2.9 per cent in December, crossing below 3 per cent for the first time since early 2021, according to data published Friday. Hong Kong economy, property market eagerly await lower rates next year On the other, consumer spending continues to be surprisingly robust. It’s undoubtedly getting a boost from the downdraft in inflation, but the strength still may keep some worried that price pressures could mount once again. Fed decision aside, we’ll get…

North Korea Fired Several Cruise Missiles, South Korea Says

Media Library

SEOUL, South Korea —  South Korea’s military said Sunday that North Korea fired several cruise missiles that flew over waters near a major military shipyard on the country’s eastern coast, extending a streak in weapons tests that are worsening tensions with the United States, South Korea and Japan. The launches followed a separate round of North Korean cruise missile tests last week and a January 14 test-firing of the country’s first solid-fuel intermediate-range ballistic missile. Those tests reflect North Korean leader Kim Jong Un’s efforts to expand his arsenal of…

Kim’s rejection of Korean reunification opens perilous new era

Media Library

North Korea’s giant concrete “Arch of Reunification” depicted two women in traditional dress leaning towards each other to hold up an image of a united Korean peninsula. But a week after North Korean leader Kim Jong Un described the 30m-tall monument as an “eyesore”, it was gone — a demolition that drove home his renunciation of his country’s long-standing commitment to eventual reunification with the South. Kim’s dramatic policy shift this month has opened a dangerous new phase in the frozen conflict between the two Koreas, analysts say, with some…