Qiaodan has gone from a minor irritant to a sophisticated operator nibbling away at Nike in its biggest overseas marketFinancial Times
Day: August 17, 2026
Why Siberia’s warming landscape could shatter Trump’s Arctic ambitions
As the United States, Russia and China race to turn a melting Arctic into the world’s next major economic gateway, their strategic ambitions face a hidden threat: thawing permafrost. Since returning to office last year, US President Donald Trump has pushed to expand America’s Arctic footprint. This includes investing in icebreakers to counter Russian and Chinese shipping ambitions, unlocking natural resources in Alaska and renewing efforts to buy or annex Greenland. Yet, as the three powers vie for control of Arctic sea lanes and minerals, rapidly thawing permafrost in Russia’s…
Trump lets 60-day deadline for Iran peace deal expire, threatens to ‘bomb’ Oman
US President Donald Trump said on Monday that he would not seek to extend the memorandum of understanding with Iran, claiming that while Iran wants to make a deal, “they’re not going to make the kind of a deal that I feel is necessary”. The agreement aimed to end the war and restore commercial navigation through the Strait of Hormuz, a vital global energy chokepoint, but negotiations stalled as both sides accused each other of violating the deal. The president’s comments came as the 60-day negotiating period expired without an…
Claims Hegseth ‘on verge of losing job’ raise questions about future US-China defence ties
Speculation is growing that Pentagon chief Pete Hegseth is at increasing risk of losing his job, raising questions about the possible implications for US-China relations, according to multiple sources familiar with the matter. The sources, speaking on condition of anonymity because they were not authorised to discuss the matter publicly, said Hegseth was “on the verge of losing his job”. They cited the ongoing deadlock over Iran and a slew of negative media reports, with one source pointing to mounting concerns about the welfare of the crew on board the…
China’s space race has a new problem: finding room for failure
There is something about the speed of consensus on China’s rocket failures that should give us pause. Within hours of Long March-7A rocket’s disintegration over the South China Sea on August 10, trade reports were pointing to an engine as the likely culprit. The China Aerospace Science and Technology Corporation (CASC) had said nothing of the kind. An official Xinhua report about three hours after the launch described only “a flight anomaly” and an investigation under way. The cause is unknown, yet explanations are fast becoming a story of their…
Ecuador’s Noboa courts China on shrimp, copper without threatening US ties
Ecuadorian President Daniel Noboa arrived in Beijing on Sunday for his first state visit to China, an eight-day trip during which he will seek to lift suspensions on 14 Ecuadorian shrimp processors and secure fresh investment in energy and mining. Noboa will hold talks with President Xi Jinping and meet separately with Premier Li Qiang and Zhao Leji, China’s top legislator, according to Beijing’s foreign ministry. The visit runs to August 23 before the Asian tour continues to Singapore and Vietnam until August 28. It is Noboa’s second trip to…
Niu Lai: derided animated film rivals blockbusters at Chinese box office
A crude, low-tech animation about a cow and a skylark has become a sleeper hit at China’s box office, sitting alongside blockbusters such as The Odyssey and Spider-Man: Brand New Day in cinema revenue rankings. Niu Lai, which translates to The Cow is Coming, is an 86-minute budget animation about a newborn calf and a skylark whose relationship develops over the course of an abstract dream sequence. Released on 5 August, the film reportedly made just 7,700 yuan (£842) in its first 10 days of screenings, with fewer than 300…
China’s economy showing signs that slowdown may be extending
China’s economy is showing signs of extending a slowdown with a slump in industrial output and retail sales in July, adding to pressure on Beijing to intervene with measures to support activity. After the world’s second largest economy posted one of its lowest quarterly growth readings on record in the three months to June, the latest figures suggest it continued to falter in July. Factory output grew 4.5% from a year earlier last month, compared with 5.3% in June, official figures from the National Bureau of Statistics (NBS) showed on…
Pentagon orders 30 US universities to scrutinise ties with Chinese research partners
The Pentagon has ordered 30 US universities to conduct sweeping audits of their foreign research partnerships, including collaborations with Chinese institutions and organisations associated with former Confucius Institutes, or risk becoming ineligible for future federal funding. The Department of Defence said on Monday that the unnamed universities must review their academic, financial and research relationships with foreign “entities of concern” and determine whether sensitive or export-controlled research had been exposed. The institutions must report their findings and proposed mitigation measures – including the termination of partnerships deemed problematic – to…
Why the Arctic sea route has become so important for China and Russia
Since Chinese container ships began plying the Northern Sea Route three years ago, the Arctic shipping lane has gained global importance. Houthi attacks on commercial vessels in the Red Sea later that year disrupted traffic through the Suez Canal – the fastest route between Europe and Asia – in what was the most serious conflict-driven disruption since the Arab-Israeli war nearly six decades earlier. The 5,600km (3,480-mile) Northern Sea Route spans Russia’s Arctic coast, from the Barents Sea to the Bering Strait. While it used to be impassable for most…