Get realpolitik? Von der Leyen questions Europe’s faith in rules-based order

The EU must decide whether the rules-based international order “is more a help or a hindrance to our credibility as a geopolitical actor”, the bloc’s top official said on Monday, in the strongest sign yet that it might break from decades of rigid adherence to global norms. In a speech to the European Union’s ambassadors, European Commission President Ursula von der Leyen used her most forceful rhetoric to date to call time on the old system, urging the diplomats to quickly update their thinking or be left behind. “Europe can…

More gas from Russia? China flags new pipeline links amid Iran energy crisis

China has included several natural gas pipelines with Russia in the draft of its new five-year plan, raising market debate on whether the Power of Siberia 2 – a closely watched project viewed as symbolic of bilateral relations – could be on the fast track for construction. Along with language on two other pipelines, the draft said China would “advance preparatory work for the central route of the China-Russia natural gas pipeline” in the next five years, which some market observers interpreted as being related to the Power of Siberia…

Taiwan tensions No 1 in Beijing’s top 10 geopolitical risks of 2026: think tank

Escalating tensions in the Taiwan Strait remain Beijing’s foremost external security concern for 2026, fuelled by uncertainties surrounding the US midterm elections and the growing involvement of Japan, according to a prominent Chinese think tank. In its latest annual forecast of China’s external security risks, the Centre for International Security and Strategy (CISS) at Tsinghua University framed this year as a pivotal moment in the profound reshaping of China’s outer defence environment. The CISS report, based on surveys and interviews with dozens of senior experts, identified three defining features of…

Germany seeks to emulate Japan in shoring up critical minerals

Stay informed with free updates Simply sign up to the German economy myFT Digest — delivered directly to your inbox. Germany’s industrial giants are pushing for a Japanese-style trading house to secure supplies of critical raw materials in a bid to bypass China’s stranglehold on rare earths. Carmaker BMW is among those working with Germany’s automotive lobby and defence industry representatives on the concept, which could be supported financially by the German government, according to people familiar with the plans. Arms maker Rheinmetall is also involved, one of the people…

Is South Korea’s dominant online retailer an American company?

Coupang, the online retailer, once called itself a “proud Korean company”. But lately, it is emphasising it is an American one. The group known as “South Korea’s Amazon” has been lobbying the US government to represent its interests as it faces investigations by at least 10 different agencies in Seoul over a massive data leak. These efforts were on full display last month when Harold Rogers, interim chief executive of Coupang Korea, was in the audience for US President Donald Trump’s State of the Union address. A day earlier, he…

China’s award-winning mathematician Wan Daqing leaves California for Chongqing

For mathematical genius Wan Daqing, life is no longer a competition between China and the United States. Instead, he has encountered the rivalry of universities from different provinces seeking to appoint him. Wan, winner of China’s highest mathematics prize, retired from the University of California at Irvine (UCI) in July and returned to China to take up his new role in December, he confirmed in an email to the South China Morning Post. The International Congress of Chinese Mathematicians (ICCM) Medal is awarded every three years to individuals of Chinese…

China’s consumer prices keep rising after holiday spending surge

China’s consumer prices rose during the first two months of the year as a longer-than-usual Chinese New Year holiday drove a surge in spending, though analysts cautioned that Beijing might need to implement stronger measures to boost demand to sustain the recovery. The national consumer price index (CPI), a crucial gauge of inflation, rose by 0.8 per cent year on year during the January-February period, according to data released by the National Bureau of Statistics (NBS) on Monday. Readings for the first two months are typically grouped together to reduce…