Stay informed with free updates Simply sign up to the Foreign exchange myFT Digest — delivered directly to your inbox. After Donald Trump’s “liberation day” tariffs led to a weaker dollar last year, expectations rose of an “FX avalanche” of Asian exporters’ currencies rapidly appreciating. Instead, the opposite has happened, with Japan’s yen and South Korea’s won trading around multi-decade lows, while Taiwan’s dollar has given up most of its gains against the US currency after a sharp appreciation in May. Weakness in the yen and won has become such…
Day: January 26, 2026
Keir Starmer’s China trip to test Labour’s push for ‘reset’ in bilateral ties
In an era of ruptured global order, British Prime Minister Keir Starmer’s much-anticipated visit to China, scheduled for later this week, marks the culmination of London’s “re-engagement” strategy with Beijing, prioritising trade and growth amid escalating geopolitical risks, according to observers. Beijing said on Friday that Starmer would visit from January 29 to 31. A Downing Street spokesman confirmed the dates on Monday, telling reporters “he will depart for his travel to China and Japan on Tuesday night”, according to Agence France-Presse. It will be the first China trip by…
Steadfast state support is key to China winning tech race with US
In the science and tech race, China is steadily advancing while America is retreating. That’s the conclusion of multiple Western studies. US President Donald Trump’s own policies have greatly contributed to this trajectory. Several salient features in this race for supremacy have been identified: China’s highly focused state support of science and tech, America’s federal defunding of them, and a nation of engineers and science graduates versus a nation of lawyers. “China is an engineering state … facing off against the United States’ lawyerly society, blocking everything it can, good…
Trump to raise tariffs on South Korea to 25%
Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world Donald Trump has said he will increase tariffs on South Korea to 25 per cent in response to Seoul’s slow pace in enacting the trade deal it struck with the US last year. In a post on Truth Social on Monday, the US president said the increase would apply to all goods covered by his “reciprocal” tariffs, along with cars, lumber and pharmaceutical goods. “Our Trade Deals are…
Nipah virus outbreak in India sparks worry in China before Lunar New Year
An outbreak of the highly fatal Nipah virus in India’s eastern state of West Bengal has sparked widespread attention and public concern in China ahead of the Lunar New Year holiday when millions will travel. While the virus has infected at least five people in West Bengal, including one in critical condition, Chinese health experts say it is difficult to transmit and less likely to cause an outbreak in China. With a fatality rate of up to 75 per cent and no effective treatment or vaccines available, the virus has…
Nipah virus outbreak in India sparks worry in China before Lunar New Year
An outbreak of the highly fatal Nipah virus in India’s eastern state of West Bengal has sparked widespread attention and public concern in China ahead of the Lunar New Year holiday when millions will travel. While the virus has infected at least five people in West Bengal, including one in critical condition, Chinese health experts say it is difficult to transmit and less likely to cause an outbreak in China. With a fatality rate of up to 75 per cent and no effective treatment or vaccines available, the virus has…
US looking inward under Trump made development space for China, expert says
China should build on its “most important” strategic assets of domestic stability and progress to navigate US President Donald Trump’s shattering of global norms, a Washington watcher at a Chinese think tank says. Ni Feng, a researcher and former director of the Chinese Academy of Social Sciences’ Institute of American Studies, said the Trump administration’s “disruptive” overhaul of US diplomacy was sending the international system into a “more volatile and uncertain” phase. This could leave Beijing facing an increasingly “complex and volatile” outside world, he warned during an event organised…
EU to announce ‘mother of all’ Indian trade deals
Stay informed with free updates Simply sign up to the EU trade myFT Digest — delivered directly to your inbox. India and the EU are set to announce on Tuesday what New Delhi has described as the “mother” of all its recent trade deals, a historic agreement intended to reduce the reliance of both parties on the US and China. The EU said the deal, sealed during a visit to India by European Commission president Ursula von der Leyen and European Council president António Costa, would “open markets, remove barriers…
EU to announce ‘mother of all’ Indian trade deals
Stay informed with free updates Simply sign up to the EU trade myFT Digest — delivered directly to your inbox. India and the EU are set to announce on Tuesday what New Delhi has described as the “mother” of all its recent trade deals, a historic agreement intended to reduce the reliance of both parties on the US and China. The EU said the deal, sealed during a visit to India by European Commission president Ursula von der Leyen and European Council president António Costa, would “open markets, remove barriers…
China’s manufacturing powerhouse cuts 2026 GDP growth target after missing mark
China’s premier manufacturing hub is recalibrating its economic ambitions, with policymakers in the industrial heartland of Guangdong setting a cautious growth target for 2026, signalling a strategic shift amid intensifying external pressures and internal regional imbalances. The southern province, bordering Hong Kong, expects its gross domestic product to grow between 4.5 and 5 per cent this year, its governor, Meng Fanli, said on Monday while delivering the annual government work report at the opening of the Guangdong provincial people’s congress. The proposed growth range marks a downward adjustment from last…