Day: February 18, 2026

Why China’s fast turnaround gives its projects an edge in Kenya over the West

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Chinese deals in Kenya often move from signing to construction in less than a year, according to the head of the African country’s investment agency, with most of the agreements signed during Kenyan President William Ruto’s visit to Beijing in 2025 well under way. John Mwendwa, CEO of the Kenya Investment Authority (InvestKenya), noted that in contrast, projects funded by the West typically took longer due to stricter environmental, social and governance standards and complex regulatory checks. Western investments may spend years in “long discovery and due diligence” phases, he…

Year of the fire horse – explained: the Chinese zodiac sign that’s all about intensity

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As the lunar new year begins, the focus has turned to the Chinese zodiac and the arrival of the year of the fire horse – a rare pairing in the 60-year lunar cycle. Drawing on Chinese metaphysics, the fire horse blends the horse’s reputation for energy and independence with the intensity of the fire element, giving it a distinct place in the zodiac tradition. What is the Chinese zodiac and the five elements? The Chinese zodiac is a 12-year cycle in which each year is represented by an animal sign:…

South Korea’s ex-president Yoon faces verdict over failed martial law

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A South Korean court will deliver its verdict on Thursday in the trial of the country’s former president Yoon Suk Yeol, who is charged with insurrection over an attempt to impose martial law. He could face the death sentence if convicted. The ruling from the Seoul Central District Court will cap a dramatic episode that plunged South Korea into its worst political crisis in decades and tested the strength of…

How did China’s Guangzhou tee up a surge in South Korean tourists?

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A surge in South Korean visitors wanting to play golf in Guangzhou, fuelled by China’s visa-free travel policy and the city’s warm climate, is keeping Quan Yulan busier than ever at the travel agency where she has worked for 12 years. Compared with 2023, when international travel began recovering after the coronavirus pandemic, Korean bookings surged by more than 300 per cent last year, said Quan, who is of Korean descent, adding that the Guangzhou-based agency expected even stronger growth this year. “Even though Guangzhou is one of China’s three…

Why Lunar New Year celebrations are about the people, not the process

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I remember when I was four or five years old, my great-grandmother would get busy days ahead of Lunar New Year. She would clean the house, pickle vegetables in an enormous jar and start pre-cooking dishes for the New Year’s Eve family meal. One star of the night, called “lion’s head”, is steamed minced pork meat balls that take days to make. My great-grandmother would go to the market ahead of time and pick out pork belly that was the right balance of lean and fat meat, carefully chopping the…

IMF calls on China to halve industrial subsidies

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Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. The IMF has called for China to slash state support for industry as international concerns mount about overcapacity in the world’s second-largest economy. The fund estimated that China spends about 4 per cent of its GDP subsidising companies in critical sectors, and said it should reduce that by 2 percentage points in the medium term. China’s industrial policies “are giving rise to international spillovers and pressures” and have combined with…

IMF calls on China to cut industrial subsidies in half

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Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. The IMF has called for China to slash state support for industry in half as international concerns mount about overcapacity in the world’s second-largest economy. The fund estimated that China spends about 4 per cent of its GDP subsidising companies in critical sectors, and said it should reduce that by 2 percentage points in the medium term. China’s industrial policies “are giving rise to international spillovers and pressures” and have…

China on track to finish world’s ‘most difficult’ railway project before 2030

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The world’s “most difficult” railway project is taking shape in rugged southwestern China. The line connecting Dali and border town Ruili in Yunnan province is the first to cut through the Hengduan Mountains, traversing some of the world’s most complex geological and topographical terrains. Running along the country’s southwestern frontier for about 330km (205 miles), the railway is expected to boost China’s links with Southeast Asia. Advertisement The line is being built in two sections: Dali to Baoshan, and Baoshan to Ruili, a county-level city that serves as a major…

Is an AI price war about to begin?

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The price of using artificial intelligence is falling. In China, entry-level access to AI models has been marketed for about $3 a month by the country’s hottest AI group Zhipu. Widely seen as one of China’s closest local equivalents to OpenAI, it develops large language models to compete with US systems. In a market where paid plans from US peers are closer to $20 a month depending on tier, and…

White House deflects as Trump weighs Taiwan arms sale delay amid Beijing pressure

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The White House declined on Wednesday to comment on reports that US President Donald Trump is weighing whether to cancel or delay a US$11 billion arms package to Taiwan, as he seeks to keep an expected April summit with Chinese leader Xi Jinping on track amid pressure from Beijing. “I don’t have any announcement or updates to share,” said White House spokeswoman Karoline Leavitt. On Monday, Trump told journalists he had discussed the potential sales with Xi. Advertisement “I’ve talked to him about it. We had a good conversation, and…