Stay informed with free updates Simply sign up to the Global Economy myFT Digest — delivered directly to your inbox. Weijian Shan is the executive chair of PAG, an Asia-focused private equity firm China’s currency, the renminbi, is undervalued. Everyday evidence abounds: residents of Hong Kong, whose currency is tightly pegged to the US dollar, flock across the border to Shenzhen for weekends of shopping, where prices are half those in Hong Kong. The Economist’s Big Mac index shows that a McDonald’s Big Mac costs $6.01 in the US, yet only…
Month: November 2025
Hong Kong apartment fires continue to burn as people rally to support survivors – video
A fire at a group of residential tower blocks in Hong Kong has killed at least 75 people, with more than 250 still missing. Helen Davidson reports from the scene, where thick smoke still hangs in the air as firefighters continue to douse the flames and try to find any survivors The Guardian
China has minimal nuclear arsenal, seeks no arms race with US: white paper
China will not seek a nuclear arms race and opposes the United States’ deployment of offensive missiles in Asia, according to Beijing’s latest white paper on nuclear policy. The paper – titled “China’s Arms Control, Disarmament and Non-Proliferation in the New Era” – updates the previous 2005 version of the document. In the white paper released on Thursday, Beijing said it had consistently kept its nuclear forces at the minimum level required for national security. Beijing has long underscored… South China Morning Post
China, EU shift Nexperia strategy: let the companies work it out
Both China and the European Union have signalled that a dispute over semiconductor maker Nexperia should be resolved at the corporate level, according to China’s Ministry of Commerce, as affected countries continue to seek a solution to supply-chain disruptions. The push for a corporate resolution came after two separate video conferences that Chinese Commerce Minister Wang Wentao had on Wednesday – with German Economy Minister Katherina Reiche and European Commissioner for Trade Maros Sefcovic. “Both sides agree that … Nexperia Netherlands and Nexperia China should promptly engage in constructive communication…
Why advances in conventional weapons tech should worry China, Russia and US
In nuclear war, the long-held assumption of mutual assured destruction no longer exists. Welcome to the age of permanent strategic instability, where superpowers mix fast and accurate nuclear and non-nuclear missiles in the same arsenal. The risk of war is greater than many realise. The scale of catastrophe is also significant. A potential nuclear winter is estimated to amount to billions of deaths from starvation after years of global crop failures. Such risks and consequences are disastrously underestimated. Nuclear powers have long sought the ability to fight and win a…
Why Beijing is unlikely to ease up on pressure on Japan over Takaichi’s comments
However, that demand appears unlikely to be met in the short term, and one diplomatic analyst warned that the pressure tactics should aim to avoid a nationalist backlash within Japan and win support for Beijing’s stance. Advertisement “Based on current official statements, Beijing’s pressure is likely to continue until Takaichi explicitly retracts her remarks, or the Japanese government formally articulates its ‘consistent position’ on the Taiwan issue,” said Xu Weijun, an assistant research professor with the Institute of Public Policy at the South China University of Technology. Earlier this month,…
‘Internal affair’: China dismisses reported US mediation in Japan row
Beijing has warned against foreign interference in its internal affairs following reports that US President Donald Trump privately pressed Japanese Prime Minister Sanae Takaichi to dial back her rhetoric on Taiwan. During a call on Tuesday, the US leader urged Takaichi not to provoke China, according to a Wall Street Journal report that cited government officials. While reportedly briefed on Takaichi’s domestic political constraints, Trump asked her to “temper” her tone, but stopped short of echoing Beijing’s demand for a full retraction. Advertisement Tokyo rejected the claims and denied that…
Prize for Physics that proves big things can be quantum too
In the eighth instalment of his exclusive series for the South China Morning Post, American theoretical physicist and Nobel laureate Frank Wilczek explores the big world manifestation of small world quantum mechanics. Read his previous articles here. The Nobel Prize in Physics for 2025 was awarded to John Clarke, Michel Devoret and John Martinis “for the discovery of macroscopic quantum tunnelling and energy quantisation in an electric circuit”. The trio collaborated on a series of groundbreaking experiments during 1984 and 1985. The phrase “quantum leap” is often used, in common…
Aerial video shows scale of Hong Kong apartment complex fire
At least 55 people have died after a fire engulfed several residential apartment blocks at the Wang Fuk Court complex in Tai Po, Hong Kong, on Wednesday. At least 45 people are in a critical condition and almost 300 people are missing. By Thursday morning, the fires had not been fully extinguished at the site, which comprises eight 32-storey towers containing about 2,000 flats. About 4,800 people live on the premises, which were being renovated at the time. Three men – two directors and an engineering consultant whose ages range…
China Vanke’s bonds plunge on fears of waning state support
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. China Vanke shares and bonds plunged on Thursday after it became the first state-backed property developer to request a delay on a bond payment, reigniting fears around the Chinese real estate sector’s financial health. Vanke, whose majority shareholder is Shenzhen Metro, disclosed late on Wednesday it had asked holders of a Rmb2bn ($280mn) onshore bond for a delay in a payment of principal due next month. The exchange filing sent…