Thu. Jun 30th, 2022

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Military tensions around Taiwan increased yesterday while China sent a record 52 warplanes to the air defense’s identity area after the US and five of its allies held a major naval exercise east of Taiwan.

The invasion, announced last night by Taiwan’s Ministry of Defense, included 36 fighters and 12 nuclear bombers. It was the third time in four days that the People’s Liberation Army has set a new record for flying in Taiwan’s air buffer zone, bringing the total number of such flights to 145 since Friday.

Taiwanese officials said that although it appears that the Chinese military aircraft that entered its air defense buffer zone yesterday were conducting an exercise aimed at the US and its allies, the extent of the PLA’s activities near Taiwan is a dangerous one. level. “This is close to the brink of conflict,” a senior official told the Financial Times.

According to a statement from the Japanese maritime self-defense force released earlier Monday, the navy of the US, Japan, UK, Canada, the Netherlands and New Zealand conducted a major exercise on Saturday and Sunday with three aircraft carriers and 14 other warships. southwest of Okinawa.

Thank you for reading FirstFT Asia. Here’s the rest of today’s news – Emily

Five more stories in the news

US oil reaches 7-year high on Opec + decision American oil prices rose after Opec and its allies refused to accelerate plans to increase crude oil production, the White House called for help in a growing global energy crisis.

2. Facebook apps experience widespread interruptions Facebook, WhatsApp and Instagram experienced widespread problems yesterday shut off access to people from around the world to some of the internet’s most used services. The problems occur the day before a whistleblower who left the company this year would testify at a Senate hearing.

3. The US urges China to fully comply with the trade pact signed with Trump The Biden administration yesterday China criticized because he did not abide by the trade agreement he signed with the US in the final year of the Trump administration, while preparing for his first trade talks with Beijing.

4. Evergrande stops trading stocks Evergrande its shares suspended of trading in Hong Kong as the most guilty real estate developer in the world, has prepared itself for the possible sale of its property management unit. The company is selling assets to improve its financial position after defaulting on payments on foreign bonds last month.

5. New Japanese prime minister gives priority to China’s threat Fumio Kishida, who has just been confirmed as Japan’s 100th Premier, has created a new position to respond to risks associated with China in the field of semiconductor supply chain, cyber security and intellectual property.

Coronavirus consumed

The line chart of seasonal spending has tripled in 15 years, showing that Halloween sales for U.S. retailers have grown strongly

The day ahead

Central Bank Meeting in Australia The Reserve Bank of Australia meets for its monthly meeting of policymakers today. No change in policy is expected, but record low interest rates are rising house prices drive add pressure on policymakers. (FT, Bloomberg)

Winner of the Nobel Prize in Physics in 2021 The prize for physics is announced today, a day after the Nobel Prize in Medicine was jointly awarded to scientists David Julius and Ardem Patapoutian, “For their discoveries of temperature and touch receptors”.

Unveiling Microsoft’s Windows 11 The release today This will be an important moment for Microsoft, which hopes that its new software will increase sales of a new range of laptops sold on the same day.

What we still read

Facing the financial literacy crisis The need for widespread education on how to save and manage money is bigger than ever. But when economist Annamaria Lusardi and her colleagues began measuring how much Americans know about personal finances, they realized that this was not a topic that was taken seriously by the general economy.

Evergrande precipitation echoes in China’s Rice Wine Town Last year, officials in the Chinese city of Shaoxing solved an urgent challenge: find a developer revive Rice Wine Town, a stopped tourism and real estate project. When the Chinese real estate group Sunac China Holdings got involved, things took a turn for the worse. But now the project runs the risk of falling victim to Evergrande’s debt crisis and Xi Jinping’s quest to cool property prices.

Electric vehicles: the revolution is finally here In a relatively short time, the transformation in the automotive industry from petrol cars to electric vehicles went from first gear to fifth, with enormous consequences for employment, urban development and even geopolitics. Why is this happening now? Peter Campbell, correspondent for the global automotive industry, and Joe Miller, correspondent in Frankfurt, explain. This is the first part of an FT series.

Can European EV sales finally match those of China?  Sales of batteries for electric vehicles (units, million) G1608_21X

Why Germany is the healthiest country in the west Thirty years after the reunification of Germany, stereotypes about national character were completely reversed. Instead, it is the US and the UK where politics is increasingly prone to ‘anxiety, aggression’ and all the other unattractive, so-called Teutonic traits, writes Gideon Rachman.

LinkedIn: how the professional networking site became personal The focus on career and networking is what sets LinkedIn apart from competing social media platforms like Facebook and Instagram. Over the past 18 months, however, users have increasingly entered into personal thoughts, said Dan Roth, editor-in-chief of LinkedIn. tell the FT.

Eat and drink

FT readers weigh in on their Favorite Restaurants in Singapore. Readers have shared the city eateries they like the most, from easy takeaways to smart stars with Michelin stars — and they are all mouth-watering.

© Dumpling Darlings

© Dumpling Darlings

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