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Military tension around Taiwan increased yesterday as China sent a record 52 fighter jets to the country’s air defense identification zone after the United States and five of its allies staged a major exercise naval shipyard east of Taiwan.
The incursion, announced last night by Taiwan’s defense ministry, included 36 nuclear-capable fighters and 12 bombers. This is the third time in four days that the People’s Liberation Army has set a new record for flights in Taiwan’s air buffer zone, bringing the total number of such flights to 145 since Friday.
Taiwanese officials have said that although it appears that Chinese military planes that entered its air defense buffer zone yesterday were engaged in an exercise targeting the United States and its allies, the scale of the activity of the PLA near Taiwan had reached a dangerous level. “This is approaching the brink of conflict,” a senior official told the Financial Times.
According to a statement by the Japan Maritime Self-Defense Force released earlier on Monday, the navies of the United States, Japan, United Kingdom, Canada, Netherlands and New Zealand led on Saturday and Sunday. a large exercise involving three aircraft carriers and 14 other warships. southwest of Okinawa.
Thanks for reading FirstFT Asia. Here is the rest of today’s news – Emily
Five other articles in the news
1. American oil peaks in 7 years following OPEC + decision U.S. oil prices surged after Opec and its allies refused to speed up plans to increase crude production, rejecting White House calls to help deal with a growing global energy crisis.
2. Facebook applications are experiencing widespread failure Facebook, WhatsApp and Instagram experienced widespread problems yesterday, cutting off access for people around the world to some of the most used services on the internet. The issues arose the day before a whistleblower who left the company this year was scheduled to testify at a Senate hearing.
3. United States urges China to fully honor trade deal signed with Trump The Biden administration yesterday criticized China for failing to live up to the trade deal it signed with the United States in the last year of the Trump administration, as it prepares for its first trade talks with Beijing.
4. Evergrande suspends trading of shares Evergrande has suspended its shares in Hong Kong as the world’s most indebted real estate developer prepares for the eventual sale of its property management unit. The company is rushing to sell assets to improve its financial situation after missing payments on offshore bonds last month.
5. New Japanese PM prioritizes Chinese threat Fumio Kishida, who has just been confirmed as the 100th Prime Minister of Japan, has created a new post to address risks related to China in the areas of semiconductor supply chain, cybersecurity and property intellectual.
The day to come
Australian central bank meeting The Reserve Bank of Australia will meet today for its monthly meeting of policymakers. No policy changes are expected, but record interest rates are causing house prices to soar, putting more pressure on policymakers. (FT, Bloomberg)
2021 Nobel laureate in physics The physics prize will be announced today, the day after the joint Nobel Prize for medicine was awarded to scientists David Julius and Ardem Patapoutian, “for their discoveries of temperature and touch receptors”.
Microsoft’s Windows 11 Unveiling Today’s release will be a big time for Microsoft, which hopes its new software will boost sales of a new line of laptops that go on sale the same day.
What else do we read
Dealing with the Financial Literacy Crisis The need for widespread education on how to save and manage money is greater than ever. But when economist Annamaria Lusardi and her colleagues started measuring what Americans know about personal finance, they realized it wasn’t a topic that had been taken seriously by mainstream economics.
Evergrande fallout reverberates in China’s rice wine town Last year, authorities in the Chinese city of Shaoxing solved an urgent challenge: finding a developer to relaunch Rice Wine Town, a stalled tourism and real estate project. When Chinese real estate group Sunac China Holdings got involved, things improved. But now the project risks falling victim to the Evergrande debt crisis and Xi Jinping’s quest to cool house prices.
Electric vehicles: the revolution is finally here In a relatively short period of time, the transformation of the automotive industry from gasoline-powered cars to electric vehicles has gone from first to fifth, with huge implications for jobs, urban development and even geopolitics. Why is this happening now? Peter Campbell, global automotive industry correspondent, and Joe Miller, Frankfurt correspondent, explain. This is the first part of an FT series.
Why Germany is the healthiest country in the West Thirty years after the reunification of Germany, stereotypes about national character have been completely reversed. Instead, it’s the US and UK where politics seem increasingly prone to “angst, aggression” and all those other unattractive, so-called Teutonic qualities, writes Gideon. Rachman.
LinkedIn: how the professional networking site became personal The emphasis on career and networking has been what differentiates LinkedIn from rival social media platforms such as Facebook and Instagram. Over the past 18 months, however, users have increasingly turned to personal reflections, LinkedIn editor Dan Roth told the FT.
FT readers weighed in on their favorite restaurants in Singapore. Readers shared the city-state’s restaurants they love the most, from no-frills take-out to Michelin-starred smart – and they’re all mouthwatering.
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