Sheer ignorance, fed by malign intent, historical prejudice and mutual misunderstanding, is often the crucial spark that ignites simmering international conflicts. If Adolf Hitler, remarkably ignorant of the US, had grasped the true extent of American industrial might, would he still have fatefully declared war on Washington in 1941? When the Soviet Union invaded Afghanistan in 1979, it evidently had no idea what it was getting into. Humiliating defeat contributed greatly to its subsequent disintegration. In 1990, Iraq’s Saddam Hussein attacked Kuwait, convinced he had a green light from the…
Month: November 2025
China’s factory activity contracts in November for 8th month in a row
China’s factory activity contracted for an eighth consecutive month in November, according to official data, as external headwinds and weak domestic demand continued to drag on the world’s second-largest economy. The manufacturing purchasing managers’ index (PMI) stood at 49.2 in November, up from 49 a month earlier, the National Bureau of Statistics said on Sunday. The reading was in line with a forecast of 49.2 based on economists polled by financial data provider Wind. Advertisement The monthly index compiles survey data given by supply chain managers from various sectors. A…
Why the influencer economy deserves its fan club
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A stuntman, a 95-year-old grandmother and a silent comedian have little in common — apart from their self-made wealth. The trio are part of the influencer economy, an ecosystem shared by online content creators, social media platforms, ad agencies and data analytics, which Goldman Sachs has reckoned will be worth just shy of half a trillion dollars by 2027. It is easy to sneer at online content creation: it isn’t…
Morgan Stanley and Goldman dominate Hong Kong equity deals
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Western banks have been the biggest beneficiaries of Hong Kong equity sales this year, shrugging off US-China tensions as dealmaking booms in Asia’s financial hub. Morgan Stanley helped raise $11.6bn in equity offerings in the year to the end of November, according to data compiled by Bloomberg. Goldman Sachs was in second position after raising $7.4bn, followed by Chinese banks Citic and CICC and Switzerland’s UBS. The data includes both…
China services activity hits 3-year low while factory slump persists
Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. China’s factory activity fell for an eighth straight month in November while activity in services hit a three-year low, showing how persistent weak demand is affecting the country’s economic outlook despite a trade truce with the US. The manufacturing purchasing managers’ index rose marginally to 49.2 this month, according to official data released on Sunday. A reading below 50 shows a contraction in activity. Another index tracking non-manufacturing business sectors,…
China services activity hits three-year low while factory slump persists
Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. China’s factory activity fell for an eighth straight month in November while activity in services hit a three-year low, showing how persistent weak demand is affecting the country’s economic outlook despite a trade truce with the US. The manufacturing purchasing managers’ index rose marginally to 49.2 this month, according to official data released on Sunday. A reading below 50 shows a contraction in activity. Another index tracking non-manufacturing business sectors,…
Why Xinjiang casts a long shadow over China and Syria’s efforts to rebuild ties
China pledged to “actively consider” helping Syria with post-war reconstruction when its new foreign minister visited Beijing earlier this month. But analysts said the two sides needed to first overcome the major hurdle of militant groups linked to China’s Xinjiang region integrated into the Syrian armed forces. Chinese Foreign Minister Wang Yi told his counterpart Asaad al-Shaibani on November 17 that the two sides should gradually resume exchanges, adding that Beijing would consider helping the country rebuild. Advertisement He also urged the new Syrian transitional government, formed after the fall…
Anger mounts in Hong Kong over apartment fires as Beijing warns against ‘anti-China disruptors’
Anger over a deadly blaze at a Hong Kong high-rise apartment complex simmered on Sunday as Beijing warned against attempts to use the disaster to disrupt the city, while people across the financial hub continued to mourn for the more than 128 victims. Police on Saturday detained one person who was part of a group that launched a petition demanding government accountability, an independent probe into possible corruption, proper resettlement for residents, and a review of construction oversight, two sources familiar with the matter said. University student Miles Kwan, 24,…
Why Chinese are cancelling their trips to Japan
Recent weeks have seen a sharp decline in Sino-Japanese people-to-people exchanges. All flights on 12 routes from mainland Chinese cities to Japan had been cancelled as of November 24, reportedly due to low demand. According to the Civil Aviation Data Analysis System, some 12 per cent of flights between China and Japan scheduled between November 24 and January 18 have been cancelled. On some routes, more than half have been cancelled. Chinese tourists, Japan’s largest inbound group, had… South China Morning Post
Taiwan’s plan to acquire drone ‘takeover’ technology sparks security debate
Taiwan’s plan to acquire Israeli “takeover” technology as part of a counter-drone network has set off a debate over its use and the island’s security strategy as it tries to keep pace with rapidly evolving unmanned threats. At a briefing for suppliers on the procurement requirements earlier this month, Taiwan’s homeland security office outlined specifications for a new system to protect the island’s airports, power plants and other critical infrastructure from incursions by small commercial… South China Morning Post