Donald Trump’s 1 August tariffs deadline did what it was always intended to do. It kept the markets and the nations guessing amid last-minute uncertainty. It attempted to reassert the global heft of the United States economy to take on and master all comers. And it placed President Trump at the centre of the media story, where he always insists on being. In the event, there were some last-minute agreements struck this week, few of them fair or rational in trade terms, most of them motivated by the desire to…
Month: July 2025
Myanmar junta forms new government ahead of elections
The military junta that controls Myanmar nominally transferred power to an interim government on Thursday ahead of a planned election in December and January. A state of emergency that was due to expire Thursday after seven extensions was lifted, Zaw Min Tun, a government spokesman, told state media. The decree had given legislative, judicial, and executive powers to Min Aung Hlang as head of the ruling military council. But state media reported late Thursday that martial law and a state of emergency would be imposed in more than 60 townships…
China and the rise of the new global city
Stay informed with free updates Simply sign up to the Chinese business & finance myFT Digest — delivered directly to your inbox. The writer is an FT contributing editor and writes the Chartbook newsletter We used to know what the future of a globalised world looked like: cosmopolitan cities like New York, Paris, London, Hong Kong. These places had national character but blended together people, ideas and money from all over the world. Many were once capitals of far-flung empires. Some, like London and New York City, had been hit…
Pakistan court sentences 108 opposition figures to 10 years in prison
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A Pakistani court has sentenced more than 100 parliamentarians, members and allies of jailed former prime minister Imran Khan’s political party to 10 years each in prison for involvement in protests against the military in 2023. Among the 108 convicted on Thursday were Omar Ayub Khan, a member of Khan’s Pakistan Tehreek-e-Insaf party who leads the opposition in the National Assembly, and Shibli Faraz, who leads the PTI in Pakistan’s…
Trump’s order to end ‘de minimis’ tariff break expands from China to the world
Washington’s decision to suspend the “de minimis” tariff exemption for all countries – expanding on an earlier move that targeted Chinese shipments – is set to disrupt and ultimately reshape the global cross-border e-commerce sector, analysts said. Advertisement The White House announced the order on Wednesday as part of efforts to close loopholes used to evade tariffs and smuggle “deadly synthetic opioids as well as other unsafe or below-market products” into the United States. It will come into effect on August 29. In May, the US eliminated the exemption –…
PLA unveils 10GW microwave weapon design with ‘superradiance’ tech
Chinese military scientists have revealed the design of a microwave weapon theoretically capable of firing 10 gigawatt power beams at a repeating rate of 126 million times per second. Advertisement The inspiration for the blueprint can be traced back to an explosive quantum phenomenon first glimpsed in Soviet laboratories during the Cold War. The concept is rooted in the physics of “superradiance”, a design that promises unprecedented peak power, efficiency and firing speed – a combination that would mark a dramatic leap beyond limitations that have long constrained high-power microwave…
Astronauts’ spacewalk, US-China renewables race: SCMP daily highlights
Catch up on some of SCMP’s biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing. 1. US-China trade talks signal shift that could reshape global order: analysts Future negotiations could take place against a more fragmented backdrop, as the superpowers vie for influence over third countries. 2. China announces joint Pacific naval exercise with Russia in August The aircraft carrier Shandong departs from Victoria Harbor in Hong Kong, July 7. Photo: Xinhua China and Russia will hold their “Joint Sea…
Can pensioners rescue China’s economy?
INSIDE BEIJING’S third ring road, Mr Li rides a scooter for FlashEx, a courier. Now in his 40s, with two school-age children, he migrated from Henan province, roughly 600km to the south. The capital’s ring roads, he has discovered, are not paved with gold. Competition has increased; fees have declined. Of the roughly 8,000 yuan ($1,100) he makes each month, he saves more than half. The Economist
Everyone loses in the rage of China’s delivery wars
BOILED BEEF noodles gave He Wei a delectable idea. A decade ago the businessman, based in China’s wealthy coastal province of Jiangsu, started a small restaurant selling them. Now he has a chain of 100 such outlets. But life is getting less palatable for millions of small eateries and cafés across China. Not only is consumer spending sluggish, but the tech platforms that operate China’s food-delivery services are battling over prices, often dropping the cost of products to next to nothing and forcing merchants such as Mr He to cover the…
Will US-Japan nuclear talks ease Tokyo’s concern over a Taiwan Strait conflict?
The US and Japan have for the first time reportedly discussed the potential use of nuclear weapons, seeking to strengthen the credibility of the US nuclear umbrella as Tokyo weighs up the risks of a conflict in the Taiwan Strait. Advertisement Experts say the development may ease Japan’s concern about supporting Taiwan’s defence, but is set to upset Beijing. Japan’s Kyodo News reported on the weekend that the two countries had been discussing a scenario in which the US military would use nuclear weapons in the event of a contingency…