Finland’s political state secretary for foreign affairs and defence has claimed China and Russia are increasingly working “in tandem” to disrupt and interfere in free societies, and undermine faith in governance. In an interview with Guardian Australia to mark his official visit to Australia and New Zealand, Pasi Rajala said Russia would not be able to sustain its war in Ukraine without help from Beijing, including through supply of critical technology and the proceeds of oil and gas sales. Sign up: AU Breaking News email “You need to expose what…
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Korean companies admit cutting corners on US visas but say they have little choice
South Korean companies have routinely used unsuitable visas for workers sent to the US to build multibillion-dollar advanced manufacturing sites, according to Seoul-based executives and industry groups. The admission comes after a dramatic raid last week by US Immigration and Customs Enforcement (ICE) at a battery plant being built by Hyundai and LG in Ellabell in Georgia, which led to the detention of 475 workers, mostly South Korean nationals. Several people familiar with Korean conglomerates in the US said it was an “open secret” that they and their subcontractors used…
Beijing deals with a gathering of strongmen
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A few weeks ago, while riding my bicycle to work in Beijing, I noticed small tents springing up on the city’s overpasses and pedestrian bridges, like a kind of camouflage fungal outgrowth. These tents belonged not to a troop of scouts lost in the concrete jungle of Beijing’s vast system of ring roads, but to China’s paramilitary police. The appearance of the guards, who keep a 24-hour vigil to prevent…
India’s north-south divide is fraying the political compact
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is a former governor of the Reserve Bank of India Over the past year, the chief ministers of two South Indian states — Andhra Pradesh and Tamil Nadu — have been urging their people to have more children. In a country long concerned that rapid population growth is undermining development, such appeals are ironic. But behind this unusual call lies a deepening grievance: that southern states are being…
Japan is always losing prime ministers. This one is different
Japan’s Prime Minister Shigeru Ishiba had vowed to “restore the smiles” to a nation suffering under economic, demographic and geopolitical strains when he took office. But faced with the challenge of an unpredictable US president and a rising populist challenge at home, that ambition went unrealised. Ishiba announced his resignation on Sunday following a surge in living costs and two disastrous election setbacks in just 10 months. “I don’t think he did anything that would be memorable for ordinary Japanese, let alone something worth smiling about,” said Koichi Nakano, a…
Prabowo fires finance minister in wake of Indonesia protests
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Indonesia’s President Prabowo Subianto has fired his finance minister, as he tries to draw a line under days of protests and reinvigorate a struggling economy. Sri Mulyani Indrawati, who joined the finance ministry in 2005 and was a managing director at the World Bank from 2010 to 2016, was widely respected and viewed as a safe pair of hands. Her removal on Monday came as part of a broader reshuffle…
EU weighs sanctions on China for Russian energy imports
Stay informed with free updates Simply sign up to the Energy sector myFT Digest — delivered directly to your inbox. EU officials are discussing potential sanctions against China and other third countries for purchasing Russian oil and gas, in response to growing US appetite to curb Moscow’s ability to fund its war against Ukraine. US President Donald Trump has said he is open to new measures targeting Russia in conjunction with the EU, after previous efforts to force President Vladimir Putin into peace talks failed. EU officials and diplomats began…
Japan stocks hit all-time high after prime minister steps down
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Japanese stocks rose to an all-time high on Monday after Shigeru Ishiba announced his resignation as prime minister and fired the starting gun on a leadership race. Traders in Tokyo said stocks had risen in the expectation that Ishiba would be replaced by Sanae Takaichi, a right-wing disciple of the “Abenomics” policies of the late Shinzo Abe seen as likely to unleash more government spending. Japan’s broad benchmark Topix, which…
Chinese exports grow at slowest rate in 6 months
Stay informed with free updates Simply sign up to the Chinese trade myFT Digest — delivered directly to your inbox. China’s exports grew at the slowest pace in six months in August, as trade tensions with the US continued to weigh on the country’s economic outlook. Exports added 4.4 per cent in dollar terms last month on a year earlier, according to data released by China’s customs administration on Monday, missing forecasts in a Reuters poll and trailing 7.2 per cent growth in July. Imports rose 1.3 per cent, also…
Political instability jolts Japan
The French government is on the brink of another collapse, and Japan’s prime minister quits after just a year in office. Plus, China may open its domestic bond market to Russian companies for the first time since 2022, and US economic data is complicating the Federal Reserve’s upcoming decision on interest rates. Mentioned in this podcast: French PM François Bayrou on the brink in crucial confidence vote Japan’s prime minister quits to make way for new leader China paves way for renminbi fundraising by Russian energy giants US adds just…