India and Pakistan are both claiming victory in the short, sharp confrontation that brought the nuclear-armed neighbours to the brink of war — but analysts say the US intervention that led to a ceasefire gave Islamabad the diplomatic upper hand. By using missiles to strike air bases and alleged “terrorist infrastructure” deep inside Pakistan, Indian officials said they established a deterrent to any involvement by Islamabad in cross-border terrorism. Pakistan, which claims to have shot down five Indian fighters last week, insists it scored a “historic victory” over its larger…
Day: May 12, 2025
China’s Xi Jinping urges countries to ‘stand united’ in face of global trade war
President Xi Jinping has called for countries to stand together to promote global peace and stability, stressing that “there were no winners in tariff wars”, in a veiled reference to the US. Advertisement In his first public remarks since US-China trade talks at the weekend, Xi told leaders from Latin America and the Caribbean that “bullying or hegemonism only leads to self-isolation”. Xi was speaking at the opening of the fourth ministerial meeting of the China-Celac forum – in Beijing on Tuesday. Celac is a grouping of the Caribbean Community…
India’s Yes Bank gets a Japanese lifeline
This article is an on-site version of the India Business Briefing newsletter. To receive it in your inbox regularly, sign up if you’re a premium subscriber, or upgrade your subscription here. Good morning. The ceasefire agreement between India and Pakistan seems to be holding for now, with no major incidents reported in the border areas for the last 48 hours. There is also de-escalation of tensions in the trade war, as China and the US agree to slash tariffs for the next 90 days. (What is this obsession with 90-day periods?)…
To align security interests, China and Asean must close trust gaps
Last month, Cambodia allowed foreign warships from multiple nations to access its Ream naval base in a clear bid to show it is not merely a Chinese outpost. A Vietnamese gunboat docked on April 27, following the arrival of two Japanese minesweepers after Cambodia inaugurated the upgraded facility. Russian naval vessels also docked at Ream during a visit that began in late April. Advertisement The Phnom Penh Post reported that Cambodian Prime Minister Hun Manet “welcomes requests from all nations” to dock and conduct joint activities there. Hosting Vietnamese, Russian…
Why China is becoming more attractive to top mathematicians: Mok Ngaiming
In the third instalment of a series to mark the 10th anniversary of the Future Science Prize, Victoria Bela and Holly Chik look at Professor Mok Ngaiming’s fundamental contributions to the field of complex differential geometry, which earned him the 2022 award in mathematics and computer science. Click here for part one and two. Advertisement China’s investment in STEM is attracting top international mathematicians and helping to foster original research, according to Mok Ngaiming, chair of mathematics at the University of Hong Kong. He said a shift from rote learning…
China must bolster stability, national security amid ‘hostile forces’: Beijing white paper
The Cold War could reheat in the Asia-Pacific region and China must strengthen domestic political stability and national security in a deteriorating geopolitical environment, Beijing said in a white paper on Monday. Advertisement Ideological subversion “by hostile forces” must be prevented and the rule of the Communist Party must be guaranteed, as the country faces “increasing external security pressure” as well as “unprecedentedly complicated” risks, according to the paper titled “China’s national security in the new era” and issued by the State Council, China’s central government. “The anti-China forces in…
Trump tariffs seen lowering Chinese firms’ US investment plans
A China General Chamber of Commerce – USA survey released Monday showed half of Chinese companies operating in the United States plan to shift emphasis away from investments in the country in light of Trump administration tariff policies. Advertisement The business group conducted the survey of almost 100 Chinese enterprises operating in the US in March and April, finishing shortly before US President Donald Trump’s so-called “reciprocal” tariffs on Chinese products of 145 per cent and Beijing’s retaliatory 125 per cent tariffs. After weekend talks in Switzerland, both sides agreed…
FirstFT: US stocks soar after Washington and Beijing agree tariff truce
This article is an on-site version of our FirstFT newsletter. Subscribers can sign up to our Asia, Europe/Africa or Americas edition to get the newsletter delivered every weekday morning. Explore all of our newsletters here Good morning and welcome back. We start today with the 90-day truce in the US-China trade war — and whether the global economy has made it through the worst of Donald Trump’s tariffs. Also in FirstFT Asia: Modi claims Indian victory after clashes with Pakistan A new Taiwanese TV drama depicts a Chinese invasion How…
BYD factory delayed in Brazil to be ‘fully functional’ by end of 2026, official says
Chinese electric car maker BYD’s new factory in Brazil will be “fully functional” by December 2026, after its operations were delayed because of an investigation into labour abuses, Bahia state labour secretary Augusto Vasconcelos said in a video on Monday. Advertisement By the end of this year, the factory should start producing cars from semi-finished kits, he added. “A new schedule is being established so that by December 2026 the factory will be fully functional with the expectation of generating 10,000 jobs,” said Vasconcelos in the video published to social…
China faces a tough balancing act with India and Pakistan
India and Pakistan have agreed a truce after trading accusations over cross-border strikes and civilian casualties, but the risk of resumed escalation looms, with consequences extending far beyond the subcontinent. Advertisement Although US President Donald Trump is claiming credit for the ceasefire in this volatile theatre of conflict, China’s restrained and nuanced diplomacy reflects a strategic calculus rooted in regional stability, economic imperatives and global power dynamics. While the Chinese public cheers for Pakistan’s tactical gains, Beijing prioritises de-escalation over opportunism, recognising that a prolonged conflict threatens South Asia’s and…