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Good morning, I’m back to Firstft Asia. In today’s newsletter:
Latest South China Sea Standoff
Trump’s trade war hits US ports and air freight
Inside Interpol’s Singapore Innovation Lab
We will today begin with China’s move to declare sovereignty over the contested coral reefs in the South China Sea that sparked a new standoff with the Philippines. Here’s what you need to know about the lines surrounding Sandy Cay:
What’s going on: The Philippines yesterday displayed the Navy, Coast Guard and Maritime Police officers to “preserve the country’s sovereignty, sovereignty and jurisdiction” in Sandy Caye in the Spratly Islands and two neighboring Sandbanks, and according to a statement published on X, “it displayed the national flag” after China was revealed, and China “exerted control of the sea.” The Leaf shows its own flag there. This is the first declaration of a declaration of sovereignty in or near the land features of a body of conflict waters, at least in ten years.
Why Sandy Cay is important: Only sand banks of less than 200 square meters, but Sandy Cay has strategic value as its classification as rock allows the country to claim the sea of ​​territory around it. Its 12-noutical miles radius overlaps with Thitu Island, the Philippines’ most important military foothold. SandyCay suspects that Manila is planning to reclaim land, and is one of four reefs that are further militarized.
US and Philippine Military Training: Sandy Kay’s column is as the Philippines and US troops will begin coastal defense and island seizure training on Philippine territory closest to Splat Rais today. The White House said on Saturday that reports that China had seized Sandy Kay were “deeply concerned if it was true.”
Here is the other thing we keep tabs today:
Economic Data: Singapore issues labour market figures for the first quarter, while Malaysia reports PPI inflation data in March.
Canadian Election: Prime Minister Mark Carney faces off in a national election against Pierre Polyeiwe, a career politician whose leadership bids have been tainted by his relationship with US President Donald Trump. The vote comes after 11 people died Saturday night when the car was driven into a massive crowd in Vancouver.
Results: Daiwa Securities, Tokyo Gas, Kikkoman, Komatsu, China Petroleum & Chemical Corp are one of the companies we report today.
Five more top stories
1. Donald Trump’s trade war with Beijing is beginning to affect the wider US economy as container port operators and air freight managers report a sharp decline in goods transported from China. Logistics Group said container reservations to the US have dropped sharply since the introduction of a 145% tariff on the US.
Double tariff: Chinese foreign manufacturers pay 125% obligation to import components, then export 145% to the US.
More US and China News: The liquefied natural gas industry is warning the Trump administration that it cannot follow new rules aimed at enforcing the use of US transports by imposing taxes on Chinese-made vessels docked in US ports.
2. Vanguard, the world’s second-largest asset manager, has ruled out re-entry from China’s fund industry, despite the group seeking to accelerate global expansion beyond the largest US market. Chris McIsaac, head of international business at Vanguard, told FT why it’s pointless for the group to operate in China.
3. Russian businessman Albert Avdrairan has been hit with EU sanctions for Moscow’s war in Ukraine, but he can partially avoid the bloc’s travel ban thanks to a Maltese passport he purchased under the “golden” visa scheme, which faces European court rulings on the future this week. Paid citizenship was granted to individuals who were politically exposed, or to those who later appeared on the sanctions list, or to those convicted of a crime.
4. Saudi Arabia and Qatar say they will settle Syrian prominent debt to the World Bank at a stage that will help them access a country with a fierce dispute for postwar reconstruction and public sector salaries. The approximately $15 million in funding will be Saudi Arabia’s first financial support to Syria since the fall fall of Bashar al-Assad regime last year.
5. Far-right politician Jordan Bardera said he would run to become president of France in 2027 if Marine Le Pen blocked operations by a court ruling. “Marine Le Pen is my candidate and I think I can say if she’s tomorrow (preventing her from running), I’ll be her candidate,” Bardella, 29, told the Le Parisien newspaper.
FT Magazine
With its lush suburbs of Than Lin, Singapore, wandering the path from the British High Commissioner and the US Embassy, ​​away from the botanical gardens, there are modest research facilities to help law enforcement take one step ahead of increasingly sophisticated and specialized criminal supervision. Owen Walker joins Interpol’s Innovation Lab.
We’re reading too. . .
Kashmir attack: The murder of 26 people urged India’s shock, sadness and rage, bringing the country to the brink of conflict with Pakistan.
Make America Pregnant Again: Republicans Want a “baby boom.” And Elon Musk can fertilize all of us, Joe Ellison writes.
Hank Paulson: If the US wants to win an AI race with China, it must develop a national energy strategy that prioritizes speed, flexibility and cost-effectiveness, writes the former U.S. Treasury Secretary.
The chart of the day
According to TransferMarkt data, Liverpool FC has won the Premier League despite spending less than its rivals through the summer and winter transfer windows.
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Take a break from the news
The “Headphone Dodgers” are the latest participants in the centuries-long urban battle between noisemakers and unwilling listeners. ft pop critic Ludovich Hunter Tilny suggests ways to stop them.
