Germany and Italy torpedo EU supply chain law

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Germany and Italy have torpedoed an EU law imposing liability on companies for alleged human rights abuses in their supply chain, such as in China’s Xinjiang region. At a meeting of EU ambassadors on Wednesday, no majority could be established for the law, which had been previously agreed, due to Berlin and Rome’s last-minute objections reflecting concerns that the new legislation would hurt their industrial base. The aim of the…

Hong Kong’s Article 23 Legislation Is Another Step Toward Authoritarian Rule

In his novel “1984,” George Orwell depicted a horrifying totalitarian society where the entire population is under constant surveillance by Big Brother. “Thought police” arrest suspects at will, and individuals are constantly suspected of colluding with state enemies. Orwell’s apocalyptic vision reminds me of the current Hong Kong government’s proposed Article 23 legislation. The legislation goes far beyond the needs of national security, resembling a political project aiming at constructing a totalitarian society like Orwell’s. The four-week public consultation on the legislation is extremely brief. Already under the rule of…

An Arms Race Quietly Unfolds in Space

The Daily is made by Rachel Quester, Lynsea Garrison, Clare Toeniskoetter, Paige Cowett, Michael Simon Johnson, Brad Fisher, Chris Wood, Jessica Cheung, Stella Tan, Alexandra Leigh Young, Lisa Chow, Eric Krupke, Marc Georges, Luke Vander Ploeg, M.J. Davis Lin, Dan Powell, Sydney Harper, Mike Benoist, Liz O. Baylen, Asthaa Chaturvedi, Rachelle Bonja, Diana Nguyen, Marion Lozano, Corey Schreppel, Rob Szypko, Elisheba Ittoop, Mooj Zadie, Patricia Willens, Rowan Niemisto, Jody Becker, Rikki Novetsky, John Ketchum, Nina Feldman, Will Reid, Carlos Prieto, Ben Calhoun, Susan Lee, Lexie Diao, Mary Wilson, Alex Stern,…

Biden Takes a Hit in Michigan, and Wildfires Spread Across Texas

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Book Review: ‘Means of Control,’ by Byron Tau; ‘The Sentinel State,’ by Minxin Pei

MEANS OF CONTROL: How the Hidden Alliance of Tech and Government Is Creating a New American Surveillance State, by Byron Tau THE SENTINEL STATE: Surveillance and the Survival of Dictatorship in China, by Minxin Pei In 1975, the French philosopher Michel Foucault published “Surveiller et Punir” — “To Surveil and Punish” — a book popularly translated into English as “Discipline and Punish,” about how societies keep their populations in line with minimal violence. At the center of his argument lay the panopticon, a prison designed by the 18th-century political reformer…

China Expands Scope of ‘State Secrets’ Law in Security Push

China passed revisions to an already stringent state secrets law, broadening the scope of the type of information that would be considered a national security risk in the world’s second-largest economy. The changes elevate the risks for foreign businesses operating in the country. Over the last year, China has targeted consultants and business executives in espionage cases as part of a push to limit the spread of information sought by investors and foreign companies. The amendments to the state secrets law, which were passed by China’s top legislative body on…

Chinese developer Country Garden hit by winding-up petition

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A Hong Kong-based creditor has filed a winding-up petition against struggling developer Country Garden, adding to a wave of legal action that threatens to increase liquidations across China’s property sector. The petition, filed by a company called Ever Credit at Hong Kong’s High Court, cited non-payment of a HK$1.6bn (US$204mn) loan facility plus accrued interest, Country Garden disclosed on Wednesday in an exchange filing. Country Garden, which until recently was…

China’s Country Garden Faces Winding Up Petition In Hong Kong

Country Garden, China’s largest real estate developer as recently as 2022, said on Wednesday that a creditor had asked a Hong Kong court to liquidate its operations and pay off lenders, in the latest sign that China’s housing crisis continues unabated. Ever Credit Ltd., a Hong Kong lender, is petitioning the city’s High Court to shut down Country Garden. The court filing involves Country Garden’s failure to repay a loan of $204 million plus interest owed to Ever Credit, the real estate developer told the Hong Kong stock market. Ever…

Leaked Russian military files reveal criteria for nuclear strike

Vladimir Putin’s forces have rehearsed using tactical nuclear weapons at an early stage of conflict with a major world power, according to leaked Russian military files that include training scenarios for an invasion by China. The classified papers, seen by the Financial Times, describe a threshold for using tactical nuclear weapons that is lower than Russia has ever publicly admitted, according to experts who reviewed and verified the documents. The cache consists of 29 secret Russian military files drawn up between 2008 and 2014, including scenarios for war-gaming and presentations…

FirstFT: McKinsey website touted its consulting for Chinese government ministries

Stay informed with free updates Simply sign up to the Global Economy myFT Digest — delivered directly to your inbox. Good morning. We have an exclusive story today about McKinsey’s business in China. It raises fresh questions over the consulting firm’s denial that it ever worked for Beijing. McKinsey claimed in marketing materials that it had advised the Chinese central government on boosting domestic consumption and reforming healthcare policy. “McKinsey’s impact in China goes well beyond our work in the corporate sector,” it said, according to an archived copy of…