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good morning. Welcome to FirstFT Asia. In today’s newsletter:
great fire in los angeles
Logistics group moves Chinese staff overseas
global relationship crisis
California’s wildfires could become the costliest disaster in U.S. history, the governor said, as strong winds forecast raise concerns that the devastating wildfires will spread further.
In comments to NBC’s Meet the Press on Sunday, Gavin Newsom said the fire, which has burned more than 40,000 acres, according to CalFire, the state Department of Forestry and Fire Protection, “is far from a simple point of view. “It would be the worst this country has ever experienced.” in terms of the costs associated with it, (and) the scale and scope.”
He added that “many more” deaths were likely to be confirmed. The death toll as of Saturday night was 16, Los Angeles officials said.
Newsom, a Democrat, also accused President-elect Donald Trump of spreading disinformation after calling the emergency response “incompetent.”
Click here to learn more about the economic losses caused by the Los Angeles fires.
Here are some other things I’m focusing on today:
Economic data: China releases trade statistics for December, India releases monthly CPI inflation data.
Japan: Financial markets are closed for Coming of Age Day, a national holiday celebrating people who have recently come of age.
5 more top articles
1. Global logistics groups are rushing to relocate Chinese staff as domestic manufacturers prepare to expand overseas in anticipation of tougher trade terms with the United States under the administration of second-term President Donald Trump. I’m here. We will introduce in detail about companies that have set up “China Desks” overseas.
More on China trade: Chinese chipmakers and technology companies are heading to Malaysia in droves as Beijing prepares to face further tariffs when Trump returns to office this month, says Rafizi Ramli Economics the minister said.
2. Mark Zuckerberg’s unexpected “free speech” overhaul of meta content moderation raises concerns among advertisers that harmful content and misinformation will proliferate across social media platforms. caused between. Mr. Zuckerberg is trying to win the support of President-elect Donald Trump, but experts say his shift is as much a business decision as it is an ideological one.
3. US President-elect Donald Trump intends to ask Ukraine to lower its military draft age in order to stabilize the country’s front lines ahead of direct negotiations with Russia. Yesterday, President Trump’s national security adviser spoke to US network ABC News and gave the clearest picture yet of the new administration’s plans to end the war.
Ukraine War: Russian troops are heading towards Ukraine’s Dnipro region, avoiding expected heavy urban fighting in the eastern region of Donetsk.
4. Days after the Iranian government released an Italian journalist from the notorious Evin prison, Italy has decided to “cancel” the arrest of an Iranian engineer wanted by the US on suspicion of illegally exporting advanced technology. did. Read about the diplomatic efforts that led to his release.
5. Tulip Siddique’s position as UK cities minister became increasingly precarious yesterday as opposition leaders called for her to be sacked after being embroiled in a property scandal linked to the ousted Bangladeshi government. Siddique, who is in charge of anti-corruption policy, faces allegations that he benefited from assets linked to his aunt Sheikh Hasina’s party, Awami League.
detailed news
Donald Trump has said he wants to buy Greenland, which is part of the Kingdom of Denmark, and recently did not rule out using military force to do so. For many residents of the capital Nuuk, the US president-elect’s comments were disturbing. But some see a positive side to President Trump’s interest in the island.
I’m also reading. . .
China’s green advantages: Western countries need to carefully cooperate with China in renewable energy trade, the editorial board writes.
Will London get colder? For some climate scientists, global warming threatens the UK with even more unexpected scenarios.
“Ozempik face”: According to the dermatological organization Galderma, baby boomers and weight loss drug users who suffer from “facial sagging” are flocking to injectable beauty treatments.
chart of the day
The decline in the birth rate in recent years is not due to the decisions of couples, but to a marked decline in the number of married couples. John Byrne-Murdoch’s latest column explains why the number of single people worldwide is increasing.
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Take a break from the news
Last month, HTSI published a list of FT staff’s favorite food markets around the world. Now, readers are weighing up the best spots for local produce, from Hong Kong and Taiwan to Melbourne.
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