content_text:
Tariffs, weak internal demand keep Chinese factory activity chilled out

kNOCK-ON EFFECTS:  While a meeting of national leaders helped, national holidays and weak demand saw sluggish showings for last month’s factory output

China’s factory activity slumped for the longest streak in more than nine years, prompting fresh calls for greater policy support even as the country reached a trade truce with the US.

The official manufacturing purchasing managers’ index fell more than expected to 49 last month, suggesting activity dropped the most in six months just before a leaders’ meeting stabilized ties this week.

New orders shrank the most since 2023 as demand took a hit from trade barriers and weak sentiment at home.

An employee works on a smartphone production line at a factory of Chinese smartphone company Honor in Shenzhen, China on Wednesday last week. Photo : AFP

“It is a discouraging start to the fourth quarter,” said Lynn Song (宋林), chief Greater China economist at ING Bank NV.

The data released yesterday is “a reminder that policy support is still needed” to shore up areas of weakness in the economy, Song said.

Huo Lihui, a statistician at the National Bureau of Statistics, blamed the sluggish activity on fewer working days last month because of national holidays and “increased complexity in the global environment.”

Tensions between the world’s largest economies escalated over export controls, with US President Donald Trump threatening additional 100 percent tariff on imports from China.

The output subindex fell below the 50 mark that separates contraction from growth for the first time since April, when Trump unleashed his “Liberation Day” tariffs. The new export order subindex also recorded its worst reading since then.

Given the broad slowdown in factory activity, manufacturers could find relief from the deal reached between Trump and Chinese President Xi Jinping (習近平) that reduced tariffs on made-in-China products. Weak domestic demand and uncertainties in US-China relations continue to cast a shadow over the outlook.

The nonmanufacturing measure in construction and services inched up to 50.1. Unlike factories, the services sector likely benefited from the long National Day holidays.

Some Chinese exporters who spoke with Bloomberg News expressed optimism the deal would boost orders for their goods, although that prospect no longer excites them as it once did.

Many said they have learned their lessons from Trump’s trade brinkmanship and realize they cannot rely solely on access to the world’s biggest consumer market.


title: Nvidia inks major deal with South Korea for AI chips

content_text:
STATE AND CORPS: Nvidia will help supply the South Korean government, Samsung, Hyundai and SK Group with accelerator chips

Nvidia Corp has forged a landmark deal to supply technology to South Korea’s biggest companies, part of an aggressive push to expand artificial intelligence (AI) infrastructure around the world.

Under agreements brokered with the country’s Ministry of Science and a trio of corporations — Samsung Electronics Co, Hyundai Motor Group and SK Group — Nvidia is to supply more than 260,000 of its accelerator chips to help jump-start South Korean AI projects. The US company did not disclose the financial terms of the deals.

Nvidia CEO Jensen Huang (黃仁勳) was in South Korea attending the APEC CEO Summit yesterday. He used the trip to continue a globe-trotting push to spread the use of AI computing — and fuel demand for his products. The deals in South Korea help further entrench Nvidia’s equipment in a country with a vibrant technology industry.

South Korean President Lee Jae Myung, right, shakes hands with Nvidia CEO Jensen Huang during their meeting on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, South Korea Friday, Oct. 31, 2025. Photo: AP

As part of the agreements, the South Korean government is building what is known as sovereign AI — computing infrastructure that it controls. It is using more than 50,000 of Nvidia’s latest AI accelerators in data centers in locations such as the National AI Computing Center and facilities owned by companies such as Kakao Corp, Naver Corp and NHN Cloud Corp.

Samsung Electronics, a key supplier of memory chips and one of the world’s largest semiconductor makers, is building an “AI factory” using more than 50,000 Nvidia chips.

Hyundai Motor has committed to using a similar number of processors based on Nvidia’s Blackwell design. The chips are to be used to develop AI models and help advance manufacturing and autonomous driving.

SK Group, which includes affiliates SK Telecom Co and SK Hynix Inc, is deploying an array of Nvidia RTX Pro 6000 Blackwell server chips in what Nvidia called Asia’s first “industrial AI cloud.” The facility is built to assist with robotics and other uses of AI in the physical world.

The AI frenzy has sent Nvidia’s sales — and market capitalization — soaring over the past two years. Earlier this week, it became the first company to reach a valuation of more than US$5 trillion. That followed a company conference in Washington where Huang pointed to strong demand for his products over the coming months.

A lingering question is whether Nvidia would be able to sell its Blackwell processors to China, the world’s largest market for chips. The US has curbed exports of the technology to the Asian nation.

Huang said Nvidia still hopes to sell chips from the company’s Blackwell line to customers in China, though he has no current plans to do so, he told reporters yesterday.

Asked whether Nvidia intends to sell AI accelerators from that family of products, the tech chief said, “I don’t know. I hope so someday.”

He added that chip sales were not discussed during his meeting with Ren Hongbin (任鴻斌), chairman of the China Council for the Promotion of International Trade.

Blackwell is Nvidia’s latest generation of artificial intelligence semiconductors, figuring prominently as a potential bargaining chip in trade talks between the US and China. Licensing the sale of those products did not figure in the discussion between US President Donald Trump and his Chinese counterpart Xi Jinping (習近平) this week, with Trump saying Nvidia and the Chinese government would have to keep talking about the US$5 trillion company’s access to the Asian nation’s market.

people: 習近平 黃仁


content_text: A person tries on a traditional straw hat at a stall in the Jara market in the southern city of Gabes , India, yesterday. Thousands have recently rallied in the city of about 400,000 inhabitants to demand the closure of a state-run phosphate processing plant, which they say is behind a rise in gas poisonings after it ramped up production.

title: Poisoned lives


title: EDITORIAL: More than fines to fix traffic woes

content_text:
The legislature on Tuesday passed amendments to the Road Traffic Management and Penalty Act (道路交通管理處罰條例) that would raise fines for unlicensed driving.

Unlicensed motorcyclists would face fines of NT$18,000 to NT$36,000, while unlicensed drivers would face fines of NT$36,000 to NT$60,000. Police would also be authorized to impound vehicles on the spot.

Traffic safety has become a rare bipartisan issue, fueled by a growing desire to shed the country’s reputation as a “pedestrian hell.” A series of high-profile crashes involving unlicensed drivers has intensified calls for reform. Lawmakers have tightened rules for drunk driving, increased penalties for hitting pedestrians and are once again turning their attention to unlicensed drivers.

Yet statistics tell a discouraging story. According to the National Police Agency, there were 45,456 traffic incidents involving unlicensed drivers in 2019, resulting in 658 deaths and 65,155 injuries. By 2023, those numbers had risen to 55,492 cases, 763 deaths and nearly 79,000 injuries.

Fines were increased in 2023, but the number of incidents continued to climb. That is unsurprising — when a crime is punishable only by a fine, it punishes those who cannot afford it. Those who can simply treat it as the cost of convenience.

For many unlicensed riders, the issue is not willingness to pay a fine, but a willingness to take the risk. If the previous NT$24,000 maximum penalty failed to deter them previously, it is unlikely that a NT$36,000 one would.

If increasing fines were an effective deterrent, the problem would already be solved.

This is why the new rule allowing police to impound vehicles on the spot is among the few measures that could bring change. The threat of losing a vehicle — often borrowed from a friend or family member — creates tangible consequences that cannot simply be paid off.

Taiwan’s traffic problems also stem from lax enforcement. Harsher penalties look great on paper, but it is rare for police to verify licenses. Thus, many unlicensed drivers know the odds of getting caught are slim. Regular roadside checks or increased traffic patrols in busy areas could change that.

Accountability must also extend beyond the driver. Vehicle owners who knowingly lend their vehicles to unlicensed drivers — such as parents allowing underage children to ride scooters — are technically subject to fines and license-plate suspension, but enforcement is spotty and penalties are comparatively lighter. If they faced the same fines as drivers, they might think twice before letting others take the wheel.

Education is another missing piece. Many crashes involving unlicensed teenage riders stem from ignorance — failing to yield, misjudging traffic flow or losing control at high speed. Mandating driver education for new riders under a certain age, introducing structured road safety education in high schools and offering affordable training programs could reduce traffic incidents.

A significant share of crashes also involve elderly people. To address this, the government proposed monthly transportation subsidies for elderly people who voluntarily surrender their license — alongside lowering the age of license renewal.

Traffic safety cannot be achieved by fear of fines alone. It would require consistent enforcement, meaningful education and consequences that reach those who enable reckless behavior. Lawmakers are right to act, but fines are the least imaginative solution to a complex and growing problem. Until supervision and enforcement become routine, and education foundational, unlicensed driving is likely to continue, with everyone else paying the price.


title: Retrocession Day, KMT hypocrisy

content_text:
On Saturday last week, the Chinese Nationalist Party (KMT) emphasized the significance of Retrocession Day, which it recently restored as a national holiday. It was not alone. The People’s Republic of China (PRC) also marked the “Commemoration Day of Taiwan’s Restoration,” framing itself as Taiwan’s successor state.

The KMT views Taiwan as having been restored to the Republic of China (ROC) on Oct. 25, 1945, when the ROC accepted Japan’s surrender at Taipei’s Zhongshan Hall, then known as the Taihoku Public Hall.

During the ceremony, the surrender of General Rikichi Ando, the last Japanese governor-general of Taiwan, was formally accepted by ROC representative Chen Yi (陳儀) on behalf of the Allies — several other representatives of whom were present. Japan’s surrender is also celebrated on the Korean Peninsula, with the North and South marking Liberation Day on Aug. 15, when the Empire of Japan formally surrendered there after World War II.

While Aug. 15 marks the end of WWII, it is not formally celebrated in Taiwan. The much-disputed Oct. 25 date should simply be seen as the anniversary of the beginning of ROC rule — and the latest instance of Taiwan falling under the authority of an alien force.

It was the official handover of Taiwan to be governed by the ROC as a representative of the Allied forces following an interim “government-less” period. Having entered the modern era and thrown off the yoke of Japanese colonialism, Taiwanese came to be ruled by the ROC, which perceived itself as heir to the “motherland.” Taiwan became a province of what they believed to be Asia’s first democratic republic and for a time, that was celebrated.

The question is, what meaning does “motherland” hold for Taiwanese today and for how many has the initial welcoming soured into resentment?

After less than a year and a half of ROC rule, the 228 Incident erupted in 1947. On March 19, 1949, martial law was declared and on Oct. 1, the ROC was expelled from China by the Chinese Communist Party (CCP). After that, Taiwan was under 38 years of quasi-colonial control by the exiled KMT.

In 1971, the ROC, led by Chiang Kai-shek (蔣介石), lost its seat at the UN to the PRC. Taiwan fell short of retaining recognition as a country, leaving a state of uncertainty that has persisted even after democratization.

Taiwan’s democracy in the 21st century, achieved through a quiet revolution, encompasses several political parties, including the KMT, but the KMT’s fall from absolute power has not led it to prioritize democratic development or national security.

In the post-Chiang era, the KMT has turned a blind eye to its own history of conflict with the CCP — never mind the PRC’s ambitions of doing away with the ROC and swallowing Taiwan whole — leaving the nation to contend with the consequences of the KMT and the CCP continually uniting against it.

Oct. 25 as Retrocession Day is meant to spotlight a Chinese restoration of Taiwan. In reality, it marks nothing more than the start of the ROC’s rule — much the same as June 17, 1895, marks the beginning of Japanese rule. The Qing Dynasty ceded Taiwan to Japan after its defeat in the First Sino-Japanese War, but after World War II, Taiwan emerged neither liberated nor independent. Instead, Japan’s defeat and the end of one colonial occupation came in the form of a handover to the ROC. To frame that as “retrocession” is a perverse distortion of history.

The ROC’s KMT and the PRC’s CCP stake claims linked to Retrocession Day — even though the PRC was yet to be established in 1945. The later-exiled ROC colonialists at the time would never have acknowledged the PRC’s distortions of today.

Conceptualizations of retrocession and liberation are subjective. If Taiwan is to have a day commemorating liberation after the end of World War II, it should, like South Korea and North Korea, be independence day on Aug. 15.

Retrocession Day should be rejected by Taiwanese.

As for the KMT, its transformation from opposing the CCP in the Chinese Civil War and the post-war period to growing increasingly closer to it today is a major contradiction.

Lee Min-yung is a poet.

Translated by Gilda Knox Streader


people: 溫家寶 習近平

content_text:
Amid the Ukraine war and bombings of Gaza, reason and civility seem to have given way to greed and cruelty. The recent Gaza ceasefire brokered by US President Donald Trump offers some optimism, but the agreement is so fragile that bombing could resume at any time without notice.

Meanwhile, Russians are tired of the war with Ukraine and are surrendering in droves. Financial woes, internal rebellions and a supply meltdown might end Russian aggression sooner than Ukrainian drones could destroy oil refineries, air and sea ports and ammunition depots.

Fiery speeches at the 80th UN General Assembly highlighted world leaders’ visions and resolve for a better world. Slovenian President Natasa Pirc Musar condemned Israel’s brutality in Gaza and US hypocrisy. Finnish President Alexander Stubb emphasized the need to balance values, interests and power amid a shifting global order, condemned Russia’s aggression and advocated for significant reform of the UN Security Council.

The strong language at the UN might help turn the world around. After all, cruelty springs from weakness.

Revising the UN Charter and the council requires adoption by two-thirds of the General Assembly and ratification by two-thirds of the member states, including all five permanent members of the council, according to Article 108 of the charter. This requirement for unanimous ratification by the permanent members makes any substantive changes to the charter nearly impossible.

The charter was designed 80 years ago in San Francisco. The aggressors in World War II were excluded from the council, but the world has changed immensely, as two nations who were victims have become the aggressors.

The purpose of the UN is to maintain international peace and security, foster friendly relations among nations, achieve international cooperation on global challenges, and promote human rights and fundamental freedoms for all. It serves as a platform from which nations can address economic, social and humanitarian issues to help build a more peaceful and prosperous world.

Two reform issues are most pressing: Enhancing democratic legitimacy and inclusivity, and peacekeeping and security.

Taiwan’s UN membership stands out as an indicator whether the global body fulfills or forfeits its purpose. UN Resolution 2758 invited the People’s Republic of China (PRC) to represent Chinese, while leaving open the possibility for the Republic of China (ROC) to stay, just as North and South Korea are both member states.

In 1971, Chiang Kai-shek (蔣介石) overruled his staff’s suggestion to keep the ROC in the UN for the benefit of Taiwanese.

Excluding the 23 million people of Taiwan from the UN goes against the ideal of inclusivity and reduces the representation of Taiwan, a beacon of democracy in Asia, whereas China is an authoritarian regime. The admission of Taiwan to the UN would not only demonstrate body’s will to leave no one behind, but also resolve tensions caused by Chinese aggression to truly ensure global stability by peaceful means.

The obstacles for Taiwan’s return to the UN are two permanent members of the council: Russia and China.

Russia might collapse soon enough. A peace treaty for Russian President Vladimir Putin to surrender should remove the Russian seat in the council.

Meanwhile, democratization is the only way to revive the Chinese economy and rid it of rampant corruption. Then-Chinese premier Wen Jiabao (溫家寶) in 2012 recognized that without political reform, a repeat of the Cultural Revolution would suffocate the economy.

In contrast to the economic theory of growth culture, Singapore, Taiwan and colonial Hong Kong attest that intrinsic Han culture does not hinder economic success; it is the political system that does.

The possibility of a military coup, political revolt and civil uprising in China are constant rumors on the Internet. An era following the exit of Chinese President Xi Jinping (習近平) that allows free speech, opposition parties and military nationalization as desired by the people might arrive sooner or later.

Any new leader seeking political reform would need to dispel the hostility across the Taiwan Strait. Allowing Taiwan’s UN membership to truly ensure stability would win hearts and minds in the democratic world — a surefire way to get international help to avoid China’s economic downward spiral in the foreseeable “lost” decades.

A return to the UN is Taiwan’s path to the future, and a triumph of democracy that furthers Taiwan’s contributions of global health, supply chains, disaster relief and financial strength to international problem solving capability.

James J.Y. Hsu is a retired professor of theoretical physics.

title: Seeking democratic triumph at UN


title: Takeaways from the Trump-Xi meeting

people: 林佳龍 賴清德 習近平

content_text:
Thursday’s meeting between US President Donald Trump and Chinese President Xi Jinping (習近平) on the sidelines of the APEC summit in Busan, South Korea, unexpectedly ended without the Taiwan issue arising. Many observers were worried it could be an issue at the meeting.

The lack of a mention might be a result of Taiwan’s steady and strategic approach combined with the US side’s unwavering stance.

Taipei has remained highly vigilant, but has avoided acting impulsively. President William Lai (賴清德) clearly defined Taiwan’s role at this year’s APEC summit as one of sharing economic resilience, industrial experience and a human-centered approach to artificial intelligence (AI).

Minister of Foreign Affairs Lin Chia-lung (林佳龍) repeatedly emphasized that, while Taiwan would pay close attention to the Trump-Xi talks, it would not be overly concerned. That caution and composure are precisely what is necessary when handling interactions between major powers.

In the days leading up to the meeting, statements from the US further reinforced the sense of stability. US Secretary of State Marco Rubio on Sunday said that Taiwan would not be treated as a bargaining chip in US-China trade talks, saying: “No one is contemplating that.”

Asked on Tuesday whether Taiwan would come up at the meeting, Trump himself said: “Taiwan is Taiwan.”

During his summit with Japanese Prime Minister Sanae Takaichi on Tuesday, Trump reiterated the importance of peace and stability in the Taiwan Strait, and US opposition to attempts to unilaterally change the “status quo,” the Presidential Office said.

These brief but unequivocal remarks conveyed two important messages — first, the US would not dilute its commitment to Taiwan in exchange for a deal, and second, the summit’s main focus would remain trade and strategic competition, not the Taiwan issue.

Beijing’s attitude appeared noticeably more restrained. Xi recently concluded the fourth plenary session of the Chinese Communist Party’s 20th congress, while his country faces a sluggish economy, mounting local debt and continued instability within the ranks of its military.

Given those circumstances, bringing up the Taiwan issue would only put China at a disadvantage in the trade talks, providing Washington with more leverage.

By strategically avoiding confrontation, Beijing sought to maintain a facade of stability — but in reality, it only exposed its lack of any meaningful leverage.

Although Trump praised Xi after the meeting and expressed confidence in his commitment to address issues such as fentanyl, semiconductors, the Ukraine war and investment in the US, all are topics that have already been repeatedly addressed.

Over the past year, Beijing has continuously promised to cooperate, but consistently failed to follow through. If this time is no different, the US-China rivalry is likely to flare up again after a cooling-off period.

Overall, the Trump-Xi meeting slightly eased tensions in the US-China trade war, but did little to fundamentally improve bilateral relations.

For Taiwan, China’s actions are less important than how Taiwan itself can steadily demonstrate its economic resilience and democratic values.

A challenge will arise if Trump visits China next year, but maintaining a composed and strategic stance is Taiwan’s most reliable force in navigating uncertainty.

Wang Hung-jen is a professor in National Cheng Kung University’s Department of Political Science.

Translated by Kyra Gustavsen


title: EDITORIAL CARTOON

content_text: The government and local industries breathed a sigh of relief after Shin Kong Life Insurance Co last week said it would relinquish surface rights for two plots in Taipei’s Beitou District (北投) to Nvidia Corp. The US chip-design giant’s plan to expand its local presence will be crucial for Taiwan to safeguard its core role in the global artificial intelligence (AI) ecosystem and to advance the nation’s AI development.The land in dispute is owned by the Taipei City Government, which in 2021 sold the rights to develop and use the two plots of land, codenamed T17 and T18, to the


title: Lula is clearing forests faster than captain chainsaw

content_text:
The ideals of forest champions like Lula have given way to local political concerns, weakening their ability to act as the climate’s emergency brake

Whatever happened to the savior of the Amazon?

Brazilian President Luiz Inacio Lula da Silva once had a decent claim to that title. Deforestation decreased by about 80 percent during his first term in office from 2003 to 2011, driving a stunning 39 percent fall in emissions in a country whose carbon pollution is shaped above all by the state of its boundless jungles.

At COP30 next month — the UN’s annual climate meeting, hosted this year in the port city of Belem at the gateway to Brazil’s rainforest — he has promised to put forward “Amazonian solutions for climate change.” Last month, he pitched US$1 billion into a planned US$125 billion global fund to preserve tropical woodlands.

“It is possible to make the forest worth more while standing than cut down,” he told a recent meeting in Bogota.

It is a nice line, but the data tell a different story. Last year, about 4.4 million hectares were lost in Brazil, including 2.8 million of untouched primary land. That is the third-largest annual figure this century, and comfortably more than in any year under former Brazilian president Jair Bolsonaro, who reveled in the nickname “Captain Chainsaw.”

Degradation — which includes damage and thinning out of existing woodland, as well as wholesale removal of entire stands — also rose to the highest level in two decades last year. About 6.64 million hectares were affected, an area about the size of Ireland. Average annual losses of primary forest during Lula’s first two years were about 24 percent higher than during Bolsonaro’s administration.

It is possible to quibble about the extent that Lula is responsible. More than half of the loss last year came as a result of fires, rather than logging. While almost all of these were started by humans, the damage they do can be dependent on environmental factors. In 2023 and last year, the Amazon basin was gripped by its most severe drought in more than 40 years, quickly turning blazes into infernos.

Lula’s record also looks better if you confine your focus just to the Amazon, as opposed to the enormous, but less charismatic areas of savannah and wetlands to the east and south such as the Cerrado and Pantanal. Deforestation in the legal Amazon this year, despite running far above levels during Lula’s first administration, remains well below the rates of the Bolsonaro era.

The rainforest and global climate do not care about such rationalizations. On plenty of areas under his control, Lula has fallen short.

Last year’s devastating fires likely worsened thanks to a strike by the country’s environment agencies, whose workers are often the first line of defense against deforestation. Brazil’s government took eight months to resolve the issue. State-owned Petrobras SA recently won approval to drill for oil in an offshore area not far from the mouth of the Amazon river. In August, Lula signed a law radically loosening environmental protections, even as he vetoed some of the most egregious measures. The amount of land given over to soybeans and corn would hit record levels this year.

For all of Bolsonaro’s lawlessness, there is an uncomfortable degree of continuity between the two administrations. Lula’s ability to get things done depends on working together with more than a dozen parties in the Brazilian Congress, where rural electorates dominated by agribusiness are grossly over-represented and Bolsonaro allies still hold sway. Sacrificing the Cerrado to save the Amazon is central to that devil’s bargain.

Nor is the problem confined just to Brazil. In many parts of the world where forests have recently spread to their widest extent in centuries, their potential to offset our emissions is running out. In Finland, one of the world’s most tree-covered countries, woodlands have become net emitters since 2021, as logging caught up with planting and a warming climate released carbon from the soil.

Russia and Canada lost more tree cover than Brazil last year, as fires swept through boreal forests that were immune in a cooler climate. Indonesian President Prabowo Subianto wants to expand palm oil plantations, sugarcane fields and dairy farms. Chinese President Xi Jinping’s (習近平) promised increase to China’s woods over the next decade would be enough to offset about five months’ worth of the country’s emissions. New plantings have slowed over the past decade, the Food and Agriculture Organization wrote last week.

This backsliding is going to make all our efforts to avert the worst outcomes of climate change more difficult. Long before the recent backing away from commitments in the US, Europe and elsewhere, hopes to slow a freefall toward a warmer planet still depended heavily on the prospects of sucking up atmospheric carbon by planting more trees — the “net” bit in “net zero.”

As world leaders gather in Belem next month, they would need to reckon with the fact that this parachute is looking worryingly threadbare. Trees, soils, plants and oceans have for decades been slowing the damage our industrial civilization is doing to the climate. Their ability to act as an emergency brake is weakening. Forests and erstwhile forest champions like Lula are not going to save us anymore.

David Fickling is a Bloomberg Opinion columnist covering climate change and energy. Previously, he worked for Bloomberg News, the Wall Street Journal and the Financial Times. This column reflects the personal views of the author and does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.


content_text:
By Cynthia Kim, Yena Park and Youn Ah Moon / Reuters, SEOUL

US President Donald Trump’s trade pact with South Korea could deal a major blow to the won when cash starts flowing out of the country to cover investment commitments in the US, although the pact would likely be a boon for the KOSPI.

In exchange for lower tariffs — duties on South Korean cars and auto parts are expected to fall to 15 percent from 25 percent — South Korean negotiators on Wednesday agreed to inject US$350 billion in new investments into the US.

In an effort to avoid disruptions in the US dollar-won market, the two countries agreed to split the fund into two components. A first part would be US$200 billion in cash, paid in installments, which would be capped at US$20 billion a year.

For a tech and export-reliant economy like South Korea, the steady outflow of funds would mean squeezed liquidity in the local market, especially if exports and consumption slowed.

The remaining US$150 billion was earmarked for cooperation in shipbuilding.

On Wednesday, South Korean chief policy adviser Kim Yong-beom said the investments would be funded with operating income from the country’s foreign assets.

Analysts said that now the deal is done and some of the murkier areas are more clear, South Korea would need to manage the capital outflows and their effects on the nation’s currency.

“It was a better-than-expected deal for [South] Korea, especially in that uncertainties surrounding the financing of the investment have cleared,” said Moon Hong-cheol, an economist at DB Securities.

“That said, we now know that there’s going to be steady, long-term outflows, so that should be taken into account, which will work to limit short-term gains in the won,” Moon added.

The won is known for being closely monitored by local authorities, reflecting a vigilant mindset that was forged after financial traumas like the 1997 Asian Financial Crisis, during which the won lost half of its value.

The won has been one of Asia’s worst-performing currencies since last year, as a growing appetite among local retail investors and the national pension fund for US stocks has driven it lower against the US dollar.

Unlike the Hong Kong dollar or the pound, most foreign banks must trade the won through the two South Korean brokerages for spot trading.

Citigroup economist Kim Jin-wook said that over the next six months to a year, the won could weaken further to 1,450 per US dollar.

“The [South] Korean private sector’s potentially lower conversion of the dollar export proceeds to the won may generate won depreciation risks in the coming years,” Kim said, explaining that returns from corporate investments abroad are unlikely to be brought back home, which would weaken the won.

Analysts said downward pressure on the won would materialize despite the investment safeguards because South Korean investors are eager to buy US assets.

The South Korean National Pension Service has a hefty and growing appetite for overseas equities and bond investments, which it can feed only by selling won for US dollars.

The service purchased about US$27 billion worth of overseas securities this year through August, about double what it bought in the year-earlier period, according to data from the Bank of Korea.

South Korea’s retail investors are snapping up US dollar-denominated assets just as quickly. They bought US$36 billion in overseas securities in the year-to-date period that ended in September, also doubling from a year earlier.

“We’re talking about US$20 billion of FX outflows a year and details on financing and implementation of that still needs to be confirmed,” said Min Kyong-won, an economist at Woori Bank. “And companies are obviously heading overseas with their investments, so all this will work to weaken the won.”

South Korea’s benchmark KOSPI, up 71 percent this year, reached a new record high as soon as local markets opened on Thursday. Shipbuilding and auto shares surged on the news.

According to chief policy adviser Kim, the two countries agreed to apply tariff levels on chips that are “not disadvantageous compared to” the levies on their competitors in Taiwan, although he did not provide details.

South Korean manufacturers of wood products and pharmaceuticals would face the lowest tariffs, while aircraft parts and generic drugs would face zero tariffs.

On Thursday, shares of Hyundai Motor Co surged more than 12 percent before closing up 2.71 percent.

Shipbuilder Hanwha Ocean Co jumped 6.9 percent, while Samsung Electronics Co and SK Hynix Inc gained 3.6 percent and 1.8 percent respectively.

“The deal removes a major overhang on the economy and the local markets,” Morgan Stanley economist Kathleen Oh said. “[The 15 percent levy] improves [South] Korea’s price competitiveness versus Japanese and European automakers.”

JPMorgan said the KOSPI would rise well above the 5,000-point level within the next 12 months, with “a bull case upside to 6,000,” led by memory chips, financials, defense firms and shipbuilders.

The KOSPI notched another record closing by rising 0.5 percent to 4,107.50 yesterday.

title: Trump’s Seoul trade deal revives currency concerns


content_text:
Trump-Xi truce buys time as both seek leverage in broader fight

US President Donald Trump emerged from his meeting with Chinese President Xi Jinping (習近平) beaming, labeling the conversation “truly great.”

However, the one-year truce struck on Thursday in South Korea is likely to only stabilize relations between the world’s two largest economies rather than resolve fundamental differences, with both sides buying time to further reduce dependence on each other in strategic areas. It made clear just how much stronger China has become since Trump’s first term in office.

Trump’s move to cut the fentanyl tariff and extend the existing truce on other tariffs would leave many products facing a levy about 47 percent, low enough for China’s massive manufacturing base to remain competitive with regional rivals. Just as significantly, the US agreed to suspend a rule expanding restrictions on blacklisted Chinese firms, showing that Xi’s sweeping rare earths curbs could potentially put a cap on new US export controls — something China has sought for years.

“China gave some ground, but the clear dynamic is how Chinese threats have gotten the US to back off a series of proposed restrictions,” said Scott Kennedy, senior adviser at the Center for Strategic and International Studies in Washington. “Xi has created more safe space for China’s economic system and its efforts to achieve greater global leadership.”

Trump secured the resumption of soybean sales and rare earths flows, addressing key political and economic vulnerabilities. The agreement to sell the US operations of ByteDance Ltd’s TikTok provides Trump the chance to brag to younger voters he kept the popular social video app alive. Hawks in Washington would be relieved Trump did not allow China access to Nvidia Corp’s flagship artificial intelligence chips or soften the US commitment to Taiwan.

Still, the agreement did not yield the type of structural changes that Trump has long promised to address the imbalanced US-China trading relationship. For markets eager to escape the tit-for-tat escalations and broad uncertainty that has defined recent months, it was hard to read Thursday’s result as more than a temporary pause in a longer-term struggle for supremacy that might last for years.

“I don’t think you’re going to see decoupling — I think you’re going to see strategic decoupling,” Robert Lighthizer, Trump’s lead trade negotiator with China during his first term, told Bloomberg Television on Thursday as the summit kicked off.

“This is only going to be something that’s going to last for a period of months, or perhaps a year or so,” he added. “And then we’re going to be back there, and have to look at it again.”

Trump said as much on the way back from the meeting in Busan, South Korea, near where leaders are gathering for the APEC summit. He mentioned he would be visiting China in April, and Xi would then head over to the US at some point after that.

“We have a deal — now, every year, we’ll renegotiate the deal,” Trump told reporters aboard Air Force One, adding that he thought it would “be very routinely extended.”

Trump seemed happy with the result, writing on social media that the agreement would be a boon to farmers, help curb the fentanyl crisis and could result in an energy deal that boosts the US economy.

“The agreements reached today will deliver Prosperity and Security to millions of Americans,” he wrote.

Markets, for their part, seemed unimpressed. US stock futures were little changed as the New York trading day began, while China’s benchmark CSI 300 Index closed down 0.8 percent.

“We’ve heard this playbook before: optimistic tone, little follow-through,” said Charu Chanana, chief investment strategist at Saxo Markets in Singapore. “The meeting had all the right optics, but what markets really wanted was a joint statement — something concrete to turn optimism into conviction.”

With competition between the US and China only increasing over the past decade, the agreement appeared more designed to avoid mutually assured destruction rather than find ways to integrate more broadly by taking down national-security restrictions and facilitating cross-border investment flows.

Indeed, Trump used his broader swing through Asia to bolster relations with key allies such as Japan and South Korea, and win investments from them in shipbuilding and rare earths — areas that would put him in a stronger position to negotiate with Xi a year from now.

China is similarly moving to become less dependent on the US for key technology. The Chinese Communist Party’s recently unveiled a five-year plan focused primarily on achieving key tech breakthroughs, particularly in high-end chips, as China moves to create supply chains independent of the US.

“Make no mistake, the two countries are drifting apart and are frantically building their own autonomous economic ecosystems,” Stephen Jen, chief executive officer of Eurizon SLJ Capital, wrote in a note to clients after the meeting.

Trump’s victories from the deal might offer some short-term political gains. China’s resumption of agricultural purchases like soybeans would help with farmers in the president’s base, while TikTok is something he can tout ahead of the mid-term election next year.

However, there was little indication that Thursday’s agreement would do much to reduce the massive trade imbalance between the two countries or address concerns about industrial subsidies. Abandoning the affiliate rule solves complaints about burdensome regulations, but would only enrage those who believe Beijing uses inscrutable ownership structures to circumvent US rules blocking access to sensitive technology.

In the broader fight, China is feeling confident. Trump’s move to pause the affiliates rule marks the second time Xi has successfully used his leverage on rare earths to force the US president to back down, with the first being the initial agreement to lower tariffs from an astronomical 145 percent.

Under the US export rules introduced last month, subsidiaries at least 50 percent owned by blacklisted firms would be subject to the same curbs as their sanctioned parent. That would have expanded restrictions to 20,000 companies, widening the measure’s “blast radius of Chinese firms off-limits to US exports 15-fold,” said Martin Chorzempa, senior fellow at the Peterson Institute for International Economics in Washington.

Tu Xinquan (屠新泉), a former adviser to China’s Ministry of Commerce, said that both sides took a step back on Thursday because neither could really bear the economic pain.

At the same time, China’s control over rare earths gave it a “trump card” it did not have the determination to use in previous years, he said.

“We can’t say this card will always work, no one can say that,” he said. “But at least for now, we’ve seized America’s weak spot.”


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FRANCHISE RECORD:  As successful as San Antonio had been winning five championships, they had never opened a season with five straight wins until Thursday

San Antonio center Victor Wembanyama on Thursday released years of frustration for this storied franchise with a fiery scream after the Spurs held on to beat the Miami Heat.

San Antonio defeated Miami 107-101 and set a franchise record by opening the season 5-0.

Winning five straight holds more than historical significance for this youthful roster. It is proof the Spurs are trending in the right direction after years of futility.

Victor Wembanyama of the San Antonio Spurs, top, dunks against the Miami Heat in their NBA game in San Antonio, Texas, on Thursday. Photo: AFP

“Tired of losing,” said San Antonio guard Devin Vassell, who is in his sixth season. “I’ve been here for a long time and it’s been a journey. I can say that, but just tired of losing.”

The fatigue is understandable.

San Antonio established a record for futility by losing 16 straight in 2023 and then exceeded it the following season with 18 consecutive losses. The Spurs lost at least five straight on 11 occasions over the past three seasons with a 78-168 record during that span.

It was haunting for a franchise that had won five NBA championships, matched a league record with 22 straight post-season appearances and had 21 winning streaks of 10-plus games during its 53-year history in San Antonio.

Yet as successful as the Spurs had been, they never opened a season with five straight victories until Thursday.

Now that franchise record belongs to a roster led by a 21-year-old center from France and nine other players 25 or younger who have never won 35 games in a season.

“Feels good to be winning,” said Spurs forward Keldon Johnson, in his seventh season. “Best feeling in the world.”

So, Wembanyama’s scream after beating Miami was as much an exorcism as it was a celebration.

“I was thinking about the 5-0 record, the Spurs history, and I was just proud being a Spur in that moment,” Wembanyama said.

That the Spurs blew a 15-point lead against the Heat and trailed 91-90 with 6 minutes, 44 seconds remaining only made their record-setting victory sweeter.

“We didn’t get those five wins randomly,” Wembanyama said. “We worked for it. We started the season strong and we keep that streak going for as long as possible. It’s good to see results because we could be playing good and still not getting as many wins as we wish, but it’s good to have results and it’s pushing us.”

Miami center Bam Adebayo made things especially difficult for Wembanyama.

Adebayo had 31 points and 10 rebounds while battling Wembanyama on both ends.

Wembanyama finished 10 for 23 from the field while playing 40 minutes.

“Thing is making him take uncomfortable shots, getting him out of his rhythm and doing that as a collective unit,” Adebayo said. “It wasn’t just me guarding him. Andrew Wiggins had some great flybys when he was shooting the ball from behind where he couldn’t see. All that matters to make somebody miss.”

Miami opened the fourth quarter on a 17-1 run, but San Antonio closed the game on an 8-3 run to preserve their winning streak.

“The Spurs made more plays down the stretch,” Heat coach Erik Spoelstra said. “It was a heck of a game in those last three minutes.”

As he rose from the court after a hard foul by Wiggins with 14.6 seconds remaining, Wembanyama urged the sellout crowd to rise and celebrate.

“It’s the exclamation point,” Wembanyama said.

Elsewhere, the Bucks beat the Warriors 120-110, the Thunder whipped the Wizards 127-108 and the Magic swatted aside the Hornets 123-107.

Additional reporting by staff writer

title: Spurs down the Heat to start season 5-0


title: India upset Australia to reach World Cup final

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Jemimah Rodrigues on Thursday hit an unbeaten 127 as India pulled off a record chase of 339 against Australia to set up a Women’s World Cup final against South Africa.

Rodrigues and skipper Harmanpreet Kaur, who hit 89, put on 167 runs for the third wicket as India won with nine balls and five wickets to spare at DY Patil Stadium, on the outskirts of Mumbai.

The hosts finished on a total of 341-5 in reply to Australia’s impressive 338 and ensured there would be a new name on the 50-over trophy tomorrow.

India’s Jemimah Rodrigues plays a shot against Australia in their Women’s Cricket World Cup semi-final in Navi Mumbai, India, on Thursday. Photo: AFP

Amanjot Kaur hit the winning boundary to trigger wild celebrations in the India camp, with smiles and tears of joy in the dugout.

“Firstly, I want to thank Jesus, because I couldn’t do this on my own. I know he carried me through today,” said player-of-the-match Rodrigues, a Christian born in Mumbai.

“It was really hard these last four months, but it just feels like a dream and it’s not sunk in yet,” she said. “Towards the end, I was just quoting a scripture from the Bible — to just stand still and that God will fight for me. I just stood there and he fought for me.”

India have twice been World Cup runners-up, in 2005 and 2017.

The hosts topped Australia’s 331-7 against India earlier in the tournament — which was itself a new record chase for a women’s one-day international.

It meant seven-time champions Australia suffered their first defeat at the Women’s World Cup since 2017, when India beat them in the semi-final.

India appeared to be in deep trouble at 59-2 in the 10th over with Shafali Verma (10) and star batter Smriti Mandhana (24) dismissed, but Rodrigues and Kaur rode out the storm and then took the attack to the opposition in front of a sizeable, partisan crowd.

A key moment in the match came when Australia captain and wicketkeeper Alyssa Healy dropped Rodrigues when she was on 82.

Annabel Sutherland broke through to dismiss Kaur for 89, with India needing another 113 for victory.

Rodrigues had another reprieve when she was put down by Tahila McGrath on 106, and stayed cool despite Deepti Sharma’s run out for 24 and then Richa Ghosh’s dismissal for 26.

Kaur said she did not “have words to express myself.”

“Feeling great, we’ve been working for so many years,” she said. “It’s an amazing feeling.”

Healy said her team had let themselves down.

“Did not finish with the bat well, did not bowl that great, dropped chances in the field, but ultimately, outdone in the end,” she said.

Australia earlier elected to bat in overcast conditions and Phoebe Litchfield smashed 119 off 93 balls.

India struck regular blows after a second-wicket partnership of 155 between Litchfield and Ellyse Perry, who made 77 after overturning an early leg before wicket decision, but Ashleigh Gardner ensured that Australia’s good start did not go to waste, contributing a brisk 63 before a clatter of wickets in the final over.

Spinners Shree Charani and Deepti took two wickets each.

Both teams wore black armbands in memory of 17-year-old Australian cricketer Ben Austin, who died on Thursday after being struck with a ball while training in Melbourne.


title: Lamar Jackson stars as Ravens rout Dolphins

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Lamar Jackson on Thursday made a triumphant return after missing three games with a right hamstring injury, leading the Baltimore Ravens to a 28-6 victory at Miami.

Two-time NFL Most Valuable Player Jackson, who grew up in Florida, completed 18 of 23 passes for 204 yards and four touchdowns without an interception to spark the Ravens.

“I felt great just to be touching the grass,” Jackson said.

Lamar Jackson of the Baltimore Ravens, right, throws a pass against the Miami Dolphins in their NFL game in Miami Gardens, Florida, on Thursday. Photo: AFP

“It was awesome,” he said.

Derrick Henry carried 19 times for 119 yards, while Jackson ran five times for 14 yards.

“He was leading us all night, picking his poison,” tight end Mark Andrews said of Jackson. “When we have 8 [Jackson’s jersey number] back there leading the charge we’re in good hands. I don’t think there was any rust or anything like that. He looked great tonight, throwing the ball, running the ball. He was commanding us.”

Baltimore improved to 3-5, tying Cincinnati for second in the American Football Conference North, 1.5 games behind Pittsburgh (4-3).

“Our guys stay poised and play off each other whatever we do,” Jackson said.

Miami slid to 2-7 with home fans booing most of the night, some putting paper bags over their heads as the Dolphins struggled and many Tua Tagovailoa passes went woefully off target.

With the victory, the Ravens began a stretch of five consecutive games against teams with losing records.

Jackson, who said his team’s poor start means “it’s do or die each and every week,” played like it.

Riley Patterson’s 49-yard field goal gave the Dolphins the lead, but on their next possession, Baltimore’s Alohi Gilman forced and recovered a Tahj Washington fumble to set up Jackson’s two-yard touchdown toss to Andrews for a 7-3 Ravens lead.

Jackson connected with Andrews on a 20-yard touchdown pass early in the second quarter, but Patterson answered with a 43-yard field goal to lift Miami within 14-6 at halftime.

The Ravens took the second-half kickoff and drove 68 yards in 11 plays over 6 minutes, 51 seconds with Jackson’s three-yard touchdown throw to Charlie Kolar ending the march.

Jackson flipped a nine-yard touchdown pass to Rashod Bateman with 4:15 remaining in the third quarter for a 28-6 Baltimore lead and two late turnovers sealed Miami’s fate.


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Jannik Sinner and Alexander Zverev march into Paris Masters last eight

Jannik Sinner on Thursday eased past Francisco Cerundolo 7-5, 6-1 at the Paris Masters to set up a quarter-final clash with Ben Shelton, while reigning champion Alexander Zverev earned a straight-sets win over Alejandro Davidovich Fokina in the third round.

A maiden crown in the French capital would return Sinner to No. 1 in the world rankings after current incumbent Carlos Alcaraz suffered a shock early exit at the hands of Britain’s Cameron Norrie.

The Italian four-time Grand Slam champion is yet to drop a set in the tournament as he hones in on what would be a fifth title of the season.

Italy’s Jannik Sinner returns to Francisco Cerundolo of Argentina in their Paris Masters men’s singles match in France on Thursday. Photo: EPA

“Today I felt like the first set was very crucial. Francisco is a very talented player, it’s very difficult to play against him because his level is very high,” Sinner said. “In the second set I raised the level ... and I’m very happy to be in the quarter-finals here for the first time.”

Sinner edged a close first set, which featured four consecutive breaks, when he pounced on 21st-ranked Argentine Cerundolo’s serve at 6-5 to seize the initiative.

The 24-year-old then immediately stepped it up in the second set, racing into a 5-1 lead before serving out to book a meeting with US fifth seed Shelton in the quarter-finals.

Shelton beat Russia’s Andrey Rublev 7-6 (8/6), 6-3 to reach the last eight.

The victory marked another landmark moment for the 23-year-old this season — following on from his first ATP 1000-level title, won in Toronto this summer — as he would now make his debut appearance at the ATP Finals in Turin, Italy.

“It’s an accumulation of a year’s work, a lot of ups and downs, great results, poor results and having to bounce back,” Shelton said of reaching the season-ending event.

Zverev continued his title defense with a 6-2, 6-4 win over Spanish 15th seed Davidovich Fokina in the day’s final matchup.

The German third seed was next to meet an old foe in former world No. 1 Daniil Medvedev, who fought past Lorenzo Sonego of Italy in three sets.

Zverev and Medvedev have met twice before in the Paris Masters, with the now-11th seeded Russian winning on both occasions, including the final in 2020.

“Daniil is somebody that I know extremely well and he beats me most of the time. He’s a bit like my kryptonite,” Zverev said.

Earlier, Alexander Bublik of Kazakhstan beat US fourth seed Taylor Fritz 7-6 (7/5), 6-2 to set up a last-eight clash with Australian world No. 6 Alex de Minaur.

Despite arguably being in the form of his life this year, 13th seed Bublik said it would require something miraculous for him to win a career-first Masters title.

“I have three matches to go, I have to beat the top 10 players, maybe Jannik in the final, so that sounds a bit like a miracle,” the 28-year-old said.

Bublik’s next opponent, De Minaur, eased past Russian 10th seed Karen Khachanov 6-2, 6-2 and in the process cemented his place at next month’s ATP Finals.

Canada’s Felix Auger-Aliassime reached the quarter-finals as he came from behind for the third time in as many matches in Paris to beat German Daniel Altmaier 3-6, 6-3, 6-2.

The ninth seed is one spot outside the last ATP Finals berth, which is currently occupied by Lorenzo Musetti, who lost on Wednesday to Sonego.

That result coupled with an Auger-Aliassime charge to the title-decider in Paris would send the 25-year-old above the Italian in the race to the eight-man showpiece.

However, before he can think about that, Auger-Aliassime must stop the in-form Valentin Vacherot of Monaco.

The Shanghai Masters champion continued his sensational run by ousting Norrie in straight sets.


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Luciano Spalletti on Thursday made his return to soccer after being hired by Juventus to replace the sacked Igor Tudor.

Juventus have given Spalletti until the end of the season in the hope that the 66-year-old can ensure qualification for next season’s UEFA Champions League, with his contract running until June 30 next year.

Should he achieve that Spalletti would be given more time to help put Juve back at the top of the pile in Italy after being surpassed by fierce rivals Inter and SSC Napoli.

Then-Italy head coach Luciano Spalletti reacts during his side’s UEFA Nations League quarter-final first leg against Germany at the San Siro in Milan, Italy, on March 20. Photo: AFP

Spalletti was the man behind Napoli’s historic Serie A title in 2022-2023 and has been one of the nation’s most influential head coaches over the past two decades, also performing way above expectations at AS Roma and Inter.

His success in Naples led to Spalletti tattooing Napoli’s crest on his arm and saying he would not manage another club in Italy after ending a 33-year wait for the scudetto, but he comes back into club soccer — on what would have been Diego Maradona’s 65th birthday — after a dreadful time as Italy head coach, a job which was supposed to be the crowning glory of a long and eventful career.

Spalletti’s Italy reign ended in ignominy in June after a disastrous title defense at Euro 2024 and a thumping at the hands of Norway in the opening match of the Azzurri’s 2026 FIFA World Cup qualifying campaign.

Juventus also find themselves at a crossroads and in search of an identity after a tumultuous past few seasons which have been dominated by below-par results on the pitch and scandal off it.

Tudor was himself brought in to save Juventus last season after the sacking in March of Thiago Motta, who was supposed to herald a new era of free-flowing and successful soccer when he replaced Massimiliano Allegri.

Spalletti is to take charge of a club that posted losses of 58 million euros (US$67.5 million) last season and has been searching for the right formula behind the scenes since mass boardroom resignations at the end of 2022 that prefaced a financial scandal which would cost Juve a 10-point deduction the following season.

Former Juventus chairman Andrea Agnelli was subsequently given two hefty bans by the Italian Football Federation and last month was handed a suspended prison sentence of 20 months after a plea bargain.

Wednesday’s 3-1 win over Udinese was a first victory since mid-September for Juve, who sit seventh in Serie A, six points behind leaders Napoli and Roma.

Spalletti’s first match is to be at surprise package US Cremonese, who were promoted from Serie B last season, but are just one point and place behind Italy’s most successful club after nine matches.

title: Luciano Spalletti returns with Juve following Italy flop


title: Xi vows to protect free trade at APEC

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CALL FOR UNITY:  South Korea said it had been prodding countries to adopt a joint statement post summit, but an official said one endorsing free trade would be unlikely

Chinese President Xi Jinping (習近平) told Asia-Pacific leaders yesterday that his country would help defend global free trade at an annual economic regional forum snubbed by US President Donald Trump.

Xi took center stage at the APEC summit that began yesterday in Gyeongju, South Korea, as Trump left the country a day earlier after reaching deals with Xi meant to ease their escalating trade war.

This year’s two-day APEC summit has been heavily overshadowed by the Trump-Xi meeting that was arranged on the sidelines.

US President Donald Trump, left, and Chinese President Xi Jinping talk at the Gimhae Air Base in Busan, South Korea, on Thursday. Photo: AFP

Trump described his meeting with Xi as a roaring success, saying he would cut tariffs on China, while Beijing had agreed to allow the export of rare earth elements and start buying US soybeans. Their deals were a relief to a world economy rattled by trade tensions between the world’s two largest economies.

Trump’s decision to skip APEC fits with his well-known disdain for big, multination forums that have been traditionally used to address huge global problems, but his blunt dismissal of APEC risks worsening the US’ reputation at a forum that represents nearly 40 percent of the world’s population and more than half of global goods trade.

“The more turbulent the times, the more we must work together,” Xi said during APEC’s opening session. “The world is undergoing a period of rapid change, with the international situation becoming increasingly complex and volatile.”

Xi called for maintaining supply chain stability, in a riposte to US efforts to decouple its supply chains from China.

Xi also expressed hopes to work with other countries to expand cooperation in green industries and clean energy. Chinese exports of its solar panels, electric vehicles and other green tech have been criticized for creating oversupplies and undercutting the domestic industries of countries it exports to.

It is Xi’s first visit to South Korea in 11 years, and he was scheduled to meet new Japanese Prime Minister Sanae Takaichi yesterday and South Korean President Lee Jae-myung today.

South Korean officials said a Lee-Xi meeting would focus on dealing with North Korea’s nuclear program.

US Secretary of the Treasury Scott Bessent, who attended the summit on Trump’s behalf, said a US move to rebalance its trade relationships would ensure that “each country operates on fair and reciprocal terms.”

The US is “investing with its trading partners to build resilient production networks that reduce dependence on vulnerable sectors,” he added.

Leaders and other representatives from 21 Asia-Pacific Rim economies are attending the APEC meeting to discuss how to promote economic cooperation and tackle shared challenges.

Opening the summit as chair, Lee called for greater cooperation and solidarity to overcome new challenges.

“It’s obvious that we can’t always stand on the same side, as our national interests are at stake. But we can join together for the ultimate goal of shared prosperity,” Lee said. “I hope we will have candid and constructive discussions on how we can achieve APEC’s vision in the face of the new challenge of a rapidly changing international economic environment.”

South Korean officials said they have been communicating with other countries to prod all members to adopt a joint statement at the end of the summit so as not to repeat the failure to issue one in 2018 in Papua New Guinea due to US-China discord over trade.

South Korean Minister of Foreign Affairs Cho Hyun last week said that issuing a joint statement strongly endorsing free trade would be unlikely, because of differing positions among APEC members.

He instead anticipated a broader declaration emphasizing peace and prosperity in the region.


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The death toll from Hurricane Melissa on Thursday rose to nearly 50 people, officials said, after the ferocious storm devastated Caribbean islands and was bearing down on Bermuda.

Flooding was expected to subside in the Bahamas, although high water could persist in Cuba, Jamaica, Haiti and the Dominican Republic, the US National Hurricane Center said.

The government urged residents to take precautionary measures against the still-powerful storm.

Residents walk amid debris after the passage of Hurricane Melissa in Boca de Dos Rios village, Cuba, on Thursday. Photo: AFP

Melissa smashed into Jamaica and Cuba with enormous force, and residents were assessing their losses and the long road to recovery.

“The confirmed death toll from Hurricane Melissa is now at 19,” Jamaican Minister of Education, Youth and Information Dana Morris Dixon said.

Communications and transportation access remains largely down in Jamaica and Cuba, and comprehensive assessment of the damage could take days.

In Haiti, the country’s civil defense agency said that the death toll had risen to 30, with 20 people injured and another 20 missing.

More than 1,000 homes have been flooded, with about 16,000 people in shelters, it said.

In Cuba, people struggled through inundated streets lined with flooded and collapsed homes.

The storm smashed windows, downed power cables and mobile communications, and tore off roofs and tree branches.

Cuban authorities said about 735,000 people had been evacuated — mainly in the provinces of Santiago de Cuba, Holguin and Guantanamo.

Meanwhile, the US has mobilized disaster assistance response teams, and urban search and rescue personnel, and the teams were on the ground in the Dominican Republic, Jamaica and the Bahamas, a US Department of State official said. Teams were en route to Haiti too.

The British government announced ￡2.5 million (US$3.3 million) in emergency funding for the region, and also said it was chartering “limited” flights to help British nationals leave.

In Jamaica, authorities said confirming deaths was difficult, as access to the hardest-hit areas was limited, and some people were still unable to reach family and loved ones.

title: Hurricane Melissa Caribbean death toll nears 50


title: Egypt set for lavish opening of grand museum

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With much pomp and circumstance, Cairo is today to inaugurate the long-awaited Grand Egyptian Museum (GEM), widely presented as the crowning jewel on authorities’ efforts to overhaul the country’s vital tourism industry.

With a panoramic view of the Giza pyramids plateau, the museum houses thousands of artifacts spanning more than 5,000 years of Egyptian antiquity at a whopping cost of more than US$1 billion.

More than two decades in the making, the ultra-modern museum anticipates 5 million visitors annually, with never-before-seen relics on display.

Tourists visit the Grand Egyptian Museum in Giza, Egypt, on April 16, 2023. Photo: EPA

In the run-up to the grand opening, Egyptian media and official statements have hailed the “historic moment,” describing the museum as “Egypt’s gift to the world” and a “new chapter in the history of Egyptian civilization.”

Preparations for the much-delayed inauguration have been shrouded in secrecy.

Authorities have not named the dignitaries expected to attend, but have promised “kings, princes, heads of state and government leaders.”

Organizers have also been tight-lipped on the new display for the iconic gold mask of the boy pharaoh Tutankhamun.

Starting Tuesday, the museum would be open to regular visitors who can view 4,500 of about 5,000 funerary objects previously scattered across the country, including at the colonial-era Egyptian Museum in central Cairo.

Egyptian President Abdel Fattah al-Sisi last week held a high-level meeting “dedicated to advancing preparations” for the inauguration, an official statement said.

Al-Sisi urged enhanced coordination to ensure the opening ceremony is held “in a manner befitting Egypt’s position, reflecting its leadership in the field of museums and global culture, and contributing to the promotion of tourism in the country.”

“Emphasis was placed on the symbolic dimension of GEM, which is set to become an international cultural and scientific hub, contributing to enhancing tourism promotion in Egypt,” the statement added.

During a final inspection visit to the site on Tuesday, Egyptian Prime Minister Mostafa Madbouly said the event reflected Egypt’s role “as a cradle of civilization and a global leader in culture and museum innovation.”


title: Survivors of atomic bomb protest Trump nuclear test

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CONDEMNED:  The mayor of Nagasaki said the order trampled on people’s efforts, who have been ‘sweating blood and tears’ for a world without nuclear weapons

A Japanese atomic bomb survivors group that won the Nobel Peace Prize has strongly criticized US President Donald Trump’s surprise directive to begin nuclear weapons testing, calling it “utterly unacceptable.”

More than 200,000 people were killed when the US dropped two atomic bombs on Japan’s Hiroshima and Nagasaki during World War II, the only time nuclear weapons have been used during warfare. Survivors have battled decades of physical and psychological trauma, as well as the stigma that often came with being a victim.

After Trump on Thursday said that he had ordered the Pentagon to start nuclear weapons testing to equal China and Russia, Nobel laureate Nihon Hidankyo sent a letter of protest to the US embassy in Japan.

Representatives of Nihon Hidankyo organization receive the Nobel Peace Prize award during a ceremony at the Oslo City Hall, Norway, on Dec. 10 last year. Photo: EPA

The directive “directly contradicts the efforts by nations around the world striving for a peaceful world without nuclear weapons and is utterly unacceptable,” the survivors group said in the letter.

Nagasaki Mayor Shiro Suzuki also condemned Trump’s order, saying it “trampled on the efforts of people around the world who have been sweating blood and tears to realize a world without nuclear weapons.”

“If nuclear weapons testing were to start immediately, wouldn’t that make him unworthy of the Nobel Peace Prize?” Suzuki said.

Two other atomic bomb survivor groups based in Hiroshima issued statements of protest, saying: “We strongly protest and firmly demand that no such experiments be conducted.”

“In a nuclear war, there are no winners or losers; all of humanity becomes the loser,” the Hiroshima Congress against Atomic and Hydrogen Bombs and the Hiroshima Prefecture Federation of Atomic Bomb Victims Associations said in a joint statement, which was also sent to the US embassy in Japan.

“The inhumane nature of nuclear weapons is evident from the devastation witnessed in Hiroshima and Nagasaki,” it added.

The US dropped an atomic bomb on Hiroshima on Aug. 6, 1945, and then another on Nagasaki three days later.

About 140,000 people died in Hiroshima and about 74,000 others in Nagasaki, including many from the effects of radiation exposure.


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Lions, tigers and bears that managed to survive in substandard conditions at a now-shuttered zoo on the outskirts of Buenos Aires paced weakly in their claustrophobic cages on Thursday, waiting their turn to receive urgent veterinary care for the first time in years.

The 62 big cats and two brown bears were being evaluated and treated before their eventual transfer to vast wildlife sanctuaries abroad — among the most complex animal rescues undertaken in Argentina after the country’s recent arrangement with an international animal welfare organization.

Argentine authorities in 2020 shut down the Lujan Zoo — famous for letting visitors handle and pose for pictures with tigers and lions — over mounting safety concerns.

A lion peers out of a cage at the former Lujan Zoo in Lujan, Argentina, on Thursday. Photo: AP

However, the plight of the captive cats there only worsened. For the past five years, the animals were sustained by little more than a few loyal zookeepers who, despite having lost their jobs at Lujan, took it upon themselves to feed and care for the stranded lions and tigers left behind.

Most did not make it.

When Four Paws, an animal rights charity, first visited the zoo in 2023, caretakers counted 112 lions and tigers — already down from the 136 big cats housed in the zoo at the time of its closure.

Two years on, almost half of the animals have succumbed to illnesses from poor nutrition, wounds from fights with animals they would never encounter in the wild, infections from lack of medical attention and organ failure from the stress of living in such cramped conditions.

“It was really shocking,” organization chief program officer Luciana D’Abramo said, pointing to a 3m2 cage crammed with seven lions.

Next door, two Asian tigers shared a tiny cage with two African lions — a “social composition that would never be found in nature,” D’Abramo said.

A single lion typically gets 1 hectare to itself at Four Paws’ sanctuaries around the world.

After striking an agreement with Argentina’s government earlier this year, Four Paws took over responsibility for the surviving wild animals in Lujan last month.

Amir Khalil, the veterinarian leading the group’s emergency mission said that “the number of animals and the conditions where they are kept make this a much bigger challenge,” adding that it was one of their biggest missions worldwide.

Veterinarians and experts from the organization were scrambling around the derelict zoo to assess the animals one by one. Most had not been vaccinated, sterilized or microchipped for identification.

The team whisked sedated lions and tigers onto operating tables, dispensing nutrients, antibiotics and doses of pain medication via intravenous drips.

The quick checkups frequently transformed into emergency surgeries. One tiger was treated for a bleeding gash in its tail last week and a lioness for a vaginal tumor on Thursday. Several tigers and lions needed root canals to repair infected molars that had been broken on the steel cage bars.

Others received treatment for claws that had grown inward from walking too much on unnatural, plank flooring in the enclosures.

After evaluating each animal, Four Paws would arrange for their transfer to more expansive, natural homes around the world.

Some Argentine zookeepers who spent decades feeding and caring for the big cats say they are happy to see Four Paws improving the conditions, but there was also a sense of nostalgia for how things were.

“It used to be a very popular place... I’ve seen people cry because they could touch a lion or feed a tiger with a bottle,” said Alberto Diaz, who spent 27 years working with the wild cats at the Lujan Zoo.

title: Stranded animals at shut down Argentine zoo rescued


content_text:
One of Thailand’s largest political parties, founded by former prime minister Thaksin Shinawatra, elected a new leader yesterday, the party said.

Paetongtarn Shinawatra stepped down as Pheu Thai party chief last week after a court removed her as prime minister in August over an ethics breach linked to a border dispute with Cambodia.

Analysts say her departure was a strategic move to shield Pheu Thai from potential legal challenges and could mark the end of the Shinawatra family’s decades-long dominance in Thai politics.

Former Thai deputy minister of justice Julapun Amornvivat attends a Pheu Thai party meeting on Aug. 15 last year. Photo: AFP

Pheu Thai members elected former deputy minister of finance Julapun Amornvivat as their new leader, a livestream on the party’s Facebook page showed.

“I feel honored to receive this privilege and thank all party members for their confidence,” Julapun said.

Julapun, 50, is the son of veteran politician Sompong Amornvivat, who served as deputy Thai prime minister and led Pheu Thai in 2019.

He was among those promoting the party’s flagship campaign policies ahead of the 2023 election, including a proposed 10,000 baht (US$309) stimulus handout and the legalization of casinos.

However, observers said that whoever leads Pheu Thai would remain under the influence of party patriarch Thaksin and his political dynasty.

The Shinawatra clan has been the key foe of Thailand’s pro-military, pro-royalty elite who view their populist brand of politics as a threat to the traditional social order for two decades.

title: Julapun Amornvivat elected leader of Pheu Thai party


title: Serbian youth march days to join train disaster rally

content_text:
Thousands of mainly young people in Serbia embarked on a two-day march from Belgrade on Thursday, aiming to join a major rally in the country’s north this weekend that would mark the anniversary of a deadly train station disaster.

The concrete canopy collapse at the central train station in Novi Sad killed 16 people on Nov. 1 last year. The tragedy has unleashed a youth-led protest movement against Serbian President Aleksandar Vucic.

Protesters believe people died because government corruption led to sloppy renovation work at the station. They have been demanding accountability for the disaster, and an early parliamentary election that they hope would oust Vucic’s populist government from power.

Serbian students celebrate as they arrive at the main square during a protest march from Belgrade to Novi Sad following the deadly Novi Sad railway station canopy collapse that killed 16 people in Indjija, Serbia, on Thursday. Photo: Reuters

Flag-waving university students on Thursday led the huge column of marchers as they set off on the 90km journey toward Novi Sad. Today’s gathering there is expected to draw tens of thousands of people, piling pressure on Vucic.

Other groups of university students have also been trekking across Serbia for two weeks to converge in Novi Sad today.

Belgrade residents came out of their houses on Thursday to greet the protesters as they passed by. People honked their car horns, waved or blew whistles. Some cried.

Sports academy student Mihajlo Jovanovic said that he joined the march, because “nothing has changed and we are going there [to Novi Sad] hoping that it finally will change.”

Veterinary student Ana Marija Seslija said that “we are walking to show that our struggle has not stopped and that we are all still active.”

Authorities have detained scores of university students and other protesters in the past months, trying to crush the resistance. Police have been accused of brutality toward protesters, including beatings and arbitrary detentions.

While 13 people have been charged in the disaster, no trial date has been set. Doubts prevail that proceedings would untangle an alleged top-level corruption web that critics believe led to the fatal negligence and disregard of construction safety rules during the station building renovation.


content_text:
Donovan’s Deep Dives: The Chinese Communist Party’s relationship with all-encompassing powerFor the CCP, the Chinese nation, people, culture, civilization, religion, economy, property, military and government are all subsidiary elements of the party itself

The Chinese Communist Party (CCP) has a dystopian, radical and dangerous conception of itself.

Few are aware of this very fundamental difference between how they view power and how the rest of the world does. Even those of us who have lived in China sometimes fall back into the trap of viewing it through the lens of the power relationships common throughout the rest of the world, instead of understanding the CCP as it conceives of itself.

Broadly speaking, the concepts of the people, race, culture, civilization, nation, government and religion are separate, though often overlapping and intertwined.

An anti-China protester on Thursday holds a sign reading “Do you know CCP?” outside an air base at Gimhae International Airport in Busan, as Chinese leader Xi Jinping arrives to attend the Asia-Pacific Economic Cooperation (APEC) Summit. Photo: AFP

A government is expected to represent a country, the nation or nations within it, and the interests of its people, informed by their unique cultures, civilizations, economies and religions. With few exceptions, people conceive of their governments as more or less expected to fit within those guidelines, and even the worst governments have some forces they accept are outside of their power, try as they might to co-opt them.

Kings and emperors can lose their divine right to rule or the mandate of heaven, overbearing theocracies can be toppled by secular forces, insufficiently pious governments can be toppled by religious forces and rapacious military dictatorships can crumble when the rank-and-file soldiers lose loyalty to a government they feel no longer represents the nation.

In one-party states, where the lines between party and state become blurred, there remains no question that it is the government that holds the power, regardless of how dominant the party’s control over it may be — and parties can ultimately be thrown out of power and replaced.

In the Soviet Union, the communists seized power, purged their enemies and created a one-party state; however, ultimately it was still the state that wielded power, even if party members filled all positions of power. They may have subverted whole swathes of society, but they were still partially constrained by the power relationships that other countries were.

GOVERNMENT BY AND FOR THE CCP

The CCP completely upended all relationships from the ground up.

The People’s Republic of China (PRC) was created by and for the CCP, and is constitutionally subordinate to the party. Everything the government does is to serve the interests of the CCP, not the people, not the nation, not the country.

High-level government positions are window dressing unless the person also holds a similarly high-ranking position within the CCP. For example, there is little point in the defense minister of a nation meeting their nominal counterpart defense minister of the PRC, unless that person holds a similarly high-ranking position on the CCP’s Central Military Commission (CMC).

The absurdity of the role of defense minister of the PRC is summed up on the ministry’s Web site: “The Central Military Commission (CMC) takes charge of the overall administration of China’s armed forces.”

The PRC has no military because it’s controlled by the CCP.

The People’s Liberation Army (PLA) is the armed wing of the CCP. It does not defend or serve the nation, the state or the people — it serves to defend the CCP and its interests.

Even more absurd, the PLA was established by the CCP to battle the nationalist Republic of China (ROC) armed forces, which fled to Taiwan after losing the Chinese Civil War in 1949.

On paper, that means the standing armed forces of the Chinese nation are in Taiwan, and today stand guard against an invasion by “China” in the form of the CCP’s armed wing. This bizarre state of affairs remains a problem for Taiwan’s military today, creating confusing loyalties that the CCP is sometimes able to exploit.

ALL MINE!

As far as the CCP is concerned, they own everything within their claimed territory and much beyond it.

Mao Zedong (毛澤東) was explicit about this, and forced people into communal living arrangements with no personal property, though they might tolerate some personal effects. Yay, my Mao button is all mine!

That fundamentally has not changed. Deng Xiaoping (鄧小平) realized how economically destructive Mao’s policies were, and rapidly expanded tolerance for what people would be allowed to possess and utilize for their own benefit.

This was only a provisional reform, and current CCP leader Xi Jinping (習近平) has rolled back some of those reforms, effectively reminding people of just how tenuous their “ownership” of anything is.

There is no individual property, only long-term leases of varying durations. Financial transactions are done through CCP-owned or controlled banks and financial institutions, increasingly through carefully controlled and monitored apps.

Whenever they want, the CCP can seize anything and everything a person owns. One can protest to the government, but as a wholly-owned subsidiary of the CCP, it will do whatever it is ordered to do.

The most effective recourse is to bribe one CCP official to overrule another, but that only works for small, non-ideological problems.

This ensures that the people are effectively owned by the CCP. Technically, they are not, but good luck finding food, water, and shelter outside of the CCP system.

THE CCP’S ‘CHINESE NATION’

Not only are the people effectively owned by the CCP, their identities, cultures, religions, languages and ethnicities are defined, developed and controlled by the CCP to “foster a strong sense of community for the Chinese nation,” according to the CCP constitution.

In practice, this means being subsumed into the dominant Han Chinese culture and race. Cultures, languages and religions are being systematically erased, and Han Chinese settlers moved in to dominate previously independent peoples like the Tibetans and Uighurs to effect a multi-generational cultural genocide.

Even gods are owned by the CCP. Officially, religion is also a wholly-owned subsidiary of the CCP. They claim the Dalai Lama’s reincarnation is an internal Chinese affair and must be administered and approved according to Chinese law.

Constitutionally, the CCP is also the “leadership core” for the “orientation for China’s advanced culture.”

Those are just appetizers; they also wrote in their constitution that they are the “vanguard” of “the Chinese people, and the Chinese nation,” so those are theirs to run as well.

They fear and loathe what they term as “desinification” in Taiwan, where culture can flow and develop naturally — sometimes expanding and deepening traditional Chinese customs and traditions, and sometimes finding whole new directions. Over time this has developed into something unique to Taiwan and individual to the people living here, regardless of whether they consider it “Chinese” or “Taiwanese” or both. Taiwanese do not belong to the CCP, which the CCP views as infuriating and threatening.

“The Chinese people, and the Chinese nation,” are not limited by geography; anyone they deem “Han Chinese” is included. The CCP considers up to 50 million people worldwide to be theirs, including over five million Americans, many of whom have no connection to China whatsoever other than ancestors who arrived in the distant past.

This is starkly demonstrated by their frequent efforts to coerce, intimidate, kidnap or kill people of different nationalities around the world that they define as part of their “Chinese nation.” They are far more cautious when it comes to people they do not consider Chinese — and shockingly, some countries play along with this delusional racist fiction, frequently implicitly, but even occasionally explicitly.

The CCP is not coming to a neighborhood near you, according to them; it is already there.

In their mind, there is no distinction between the CCP and the Chinese nation, people, culture, civilization, religion, economy, property, military or government — they are all subsidiary elements of the CCP itself.

The Chinese Communist Party does not view itself as a party; it views itself as China in its entirety and everything it deems even remotely connected to it.

Donovan’s Deep Dives is a regular column by Courtney Donovan Smith (石東文) who writes in-depth analysis on everything about Taiwan’s political scene and geopolitics. Donovan is also the central Taiwan correspondent at ICRT FM100 Radio News, co-publisher of Compass Magazine, co-founder Taiwan Report (report.tw) and former chair of the Taichung American Chamber of Commerce. Follow him on X: @donovan_smith.


title: Why emboldened Kim had little need for photo-op with Trump

content_text:
US President Donald Trump may have hoped for an impromptu talk with his old friend Kim Jong-un during a recent trip to Asia, but analysts say the increasingly emboldened North Korean despot had few good reasons to join the photo-op.

Trump sent repeated overtures to Kim during his barnstorming tour of Asia, saying he was “100 percent” open to a meeting and even bucking decades of US policy by conceding that North Korea was “sort of a nuclear power.”

But Pyongyang kept mum on the invitation, instead firing off missiles and sending its foreign minister to Russia and Belarus, with whom it has deepened ties in recent years.

North Korea’s leader Kim Jong-un, left, in June 2019 sits beside US President Donald Trump before a meeting in the Demilitarized Zone (DMZ) in Panmunjom, Korea. Photo: AFP

“The brutal reality is that Kim Jong-un had no incentive to participate,” said Lee Seong-hyon, a visiting scholar at the Harvard University Asia Center.

“It was a fundamental miscalculation by Washington to believe he would,” said Lee.

Trump’s repeated overtures instead represented a “victory” for the North Korean leader — offering him and his nuclear program a massive degree of credibility, Lee said.

“President Trump gave Kim a massive, unearned concession,” he said.

The pair — who Trump once famously declared were “in love” — last met in 2019 at Panmunjom in the Demilitarized Zone (DMZ) separating the two Koreas after the US leader extended an invitation to Kim on Twitter.

That overture to Pyongyang spearheaded by Trump eventually collapsed over the scope of denuclearization of the North and sanctions relief. Since then, North Korea has declared itself an “irreversible” nuclear state and forged close links to Russia, sending troops to support Moscow in its war on Ukraine.

Kim is now in a “pretty sweet spot,” said Soo Kim, a former CIA analyst.

“Russia’s backing is probably one of the most decisive factors strengthening and cementing North Korea’s strategic hand these days,” she said.

“He maintains the upper hand, which makes it easier for him to pass on Trump’s invitation,” Kim said.

Heading home from South Korea and a meeting with Chinese leader Xi Jinping (), Trump said he had been too “busy” to meet Kim, though he added he could return.

The scene stood in stark contrast to 2019, when denuclearization and sanctions relief talks in Hanoi, Vietnam, collapsed in dramatic fashion — leaving Kim to endure a long train journey back to Pyongyang with no deal in hand.

Vladimir Tikhonov, Korean Studies professor at the University of Oslo, said that experience had left Pyongyang sore.

“They don’t want to venture forward too rushingly,” he said.

Instead, Tikhonov said, Pyongyang may be holding out for more specific proposals from Trump, including formal diplomatic recognition and sanctions relief without denuclearization.

FRIENDS LIKE THESE

And closer alliances elsewhere mean Kim has little reason to chase approval from Washington.

This week, Pyongyang’s foreign minister Choe Son Hui headed to Moscow, where she and Russian President Vladimir Putin agreed to strengthen bilateral ties.

Analysts say North Korea is receiving extensive financial aid, military technology and food and energy assistance from Russia.

That has allowed it to sidestep tough international sanctions imposed over its nuclear and missile programs that were once a crucial bargaining chip for the United States.

Freeflowing trade with China — which soared to its highest level in nearly six years last month, according to analysts — has also helped ease Pyongyang’s economic isolation.

Last month, Kim appeared alongside Xi and Russia’s Vladimir Putin at an elaborate military parade in Beijing — a striking display of his new, elevated status in global politics.

Kim now has “no reason to trade this new, high-status quo for a photo-op” with Trump, said Harvard’s Lee.

Kim has a “strategic lifeline from Russia and China, and he sees the US-China competition as a long-term guarantee of his own maneuverability.”

The North Korean leader is now operating from a “position of strength.”


content_text:
If you’ve recently spotted adults parading around with cuddly toys dangling from their designer handbags, your eyes haven’t been deceiving you. The playful trend of adorning bags with cute charms has become popular among people of various ages. Plushies like Labubu and anime and manga characters such as Chiikawa have become must-have accessories that make personal statements.

The practice of attaching charms to personal items has been common across cultures throughout history. In ancient civilizations, charms were often used as symbols of protection, good luck, or identity. Fast-forward to more modern times, and style icons like Jane Birkin, a European actress, singer, and designer, helped popularize the idea of decorating handbags with trinkets, turning them into expressions of individuality. Today, just as people use emojis to convey emotions in messages, many are now using cuddly toys as a form of visual language to communicate their interests and values.

Interestingly, experts suggest that incorporating soft toys into daily fashion can offer emotional comfort and stress relief. Neuroscience studies reveal that seeing something cute stimulates the brain’s pleasure centers. In today’s fast-paced, high-pressure society, carrying something cute can serve as a small but effective coping mechanism. On top of that, the soft texture of fluffy toys can evoke feelings of security, nostalgia, and joy, instantly bringing back warm memories of childhood.

A recent development in this trend is the emergence of transparent bags specifically designed to showcase plushies. These clear plastic pouches, which can be attached to bigger bags, allow enthusiasts to display their favorite dolls while keeping them protected. By blending the soothing elements of childhood with adult aesthetics, people have found a unique way to address the complexities of modern life.

如果你最近發現成年人手拿掛著可愛玩具的名牌手提包四處走動，你沒有看錯。用可愛的吊飾來裝飾包包的俏皮潮流已在各個年齡層流行起來。像 Labubu 這樣的絨毛玩具，以及像吉伊卡哇這樣的動漫角色已經成為展現自我的必備配件。

於個人物品上繫吊飾的做法在歷史上的各個文化中都很常見。在古文明中，小飾品通常被用作保護、好運或身分的象徵。時間快轉到更現代，像珍．伯金（歐洲女演員、歌手和設計師）這樣的時尚代表人物幫助推廣了用小飾物裝飾手提包的想法，將這些小飾品變成了個性的表達。如今，就像人們使用表情符號以在訊息中傳達情感一樣，許多人現在使用可愛玩具作為一種視覺語言來表達他們的興趣和價值觀。

有趣的是，專家認為，將絨毛玩具融入日常時尚可以提供情感安慰和減輕壓力。神經科學研究顯示，看到可愛的事物會刺激大腦的快樂中樞。在當今快節奏且高壓的社會中，攜帶可愛的東西可以作為一種小型但有效的應對機制。除此之外，毛茸茸玩具的柔軟觸感可以喚起安全感、懷舊感和快樂感，瞬間喚起童年溫暖的回憶。

這一趨勢的最新發展是：專門為展示絨毛玩具而設計的透明包（編按：這種透明小包包被稱為娃包）出現了。這些透明的塑膠小袋可以繫到更大的包包上，讓愛好者在展示他們最喜歡娃娃的同時保護它們。透過將童年的撫慰元素與成人的美學融合，人們找到了應對現代複雜生活的獨特方法。

Word in Use

1. dangle vi. 垂掛，懸吊

A single light bulb was dangling in the center of the living room. 客廳的正中央懸掛著一個燈泡。

2. deceive vt. 欺騙

The company was accused of deceiving customers with false advertising.

那家公司被指控使用不實廣告欺騙消費者。

3. accessory n. 配件，裝飾品

Sunglasses are both a fashion accessory and protection against UV rays.

太陽眼鏡是時尚配件，也能阻擋紫外線。

4. popularize vt. 使普及

Social media has helped popularize many new trends.

社群媒體有助讓許多新趨勢普及化。

5. convey vt. 傳達，傳遞

Emojis can convey ideas or feelings without the need to type a lot of words.

表情符號可以傳達想法或感受，而不需要打很多字。

Practical Phrases

1. adorn A with B 用 B 裝飾 A

adorn vt. 裝飾，使生色

Christmas trees are often adorned with trinkets and lights. 聖誕樹通常會以一些小飾物和燈飾來裝飾。

2. make a statement

（透過穿著、行為等）展現∕反映（態度、意見等）

The brand makes a statement about sustainability by using eco-friendly packaging.

那個品牌透過使用環保包裝展現出永續的態度。

3. attach A to B 將 A 繫在∕固定在 B 上

The traveler attached a name tag to his suitcase.

這名旅客把名牌繫在他的行李箱上。

4. fast-forward to + 時間 快轉到某時

fast-forward vi. 快轉

This semester has been so rough that I wish I could fast-forward to summer vacation.

這學期真的太艱難，我好希望能快轉到暑假。

To be continued tomorrow（明日待續）

https://www.taipeitimes.com/News/lang

聽文章朗讀及講解: https://ivy.pse.is/455bfu

本文出自常春藤解析英語雜誌: www.ivy.com.tw

title: NALYTICAL ENGLISH 解析英語(常春藤)


title: 戰車側身圖搭配Taiwan字樣　M1A2T臂章象徵堅固防線

content_text:
軍聞社／記者吳冠萱臺北31日電

對美採購108輛M1A2T戰車今（31）日正式成軍，為紀念我國軍武重大突破，向國軍自主防衛的全新紀元致敬，由中華文化總會與青年日報「青文創」合作設計「M1A2T成軍典禮紀念臂章」，象徵堅固防線與守護家園的決心，也代表新式戰車在國防體系中肩負的重要使命。

陸軍司令部表示，這枚臂章的設計，以戰車的側身圖像為主體，外型採用半圓角的盾形，象徵堅固防線與守護家園的決心，也代表新式戰車在國防體系中肩負的重要使命。臂章上草寫的「TAIWAN」字樣，展現了部隊在戰場上迅捷行動、堅毅作戰的精神。陸軍強調，這枚臂章不只是一個軍事識別的標誌，更是一份榮耀的象徵，代表著我們守護國土的信念與使命。

▼「陸軍裝甲第五八四旅聯兵三營換裝M1A2T戰車成軍典禮」。（圖／記者許靖騏攝）


title: 揮別駐紮73年永康營區　砲訓部整裝新遷關廟湯山新營區

taiwan-subdivisions: 新營區 永康 關廟 臺南 中山 臺南市

content_text:
軍聞社／記者林庭暉臺南31日電

陸軍砲兵訓練指揮部昨（30）日自駐紮73年的臺南市永康營區整裝遷駐關廟湯山新營區，臺南市長黃偉哲、地方鄉親仕紳至永康營區正門夾道歡送，為砲兵學校在永康的歲月畫下溫暖句點，象徵砲校歷史新頁正式啟航，邁向嶄新里程碑。

當天上午，砲兵訓練指揮部最後一批共13輛車的移防車隊自永康營區正門出發，沿中山南路行駛，車上官兵向夾道歡送的地方民眾行禮致意，場面溫馨感人。

歡送過程中，臺南市長黃偉哲也親自出席，代表地方表達感謝之意，肯定砲兵訓練指揮部長年為地方付出、守護地方的貢獻。砲兵訓練指揮部指揮官李少將也贈送黃市長象徵砲兵精神的「砲彈造型水壺」，寓意軍民情誼長存、共同攜手開創新局。

砲校自民國41年進駐永康地區，見證了臺南地區的發展與變遷，70餘載歲月中，培育無數砲兵幹部與專業技術人員，是國軍重要的火力戰力搖籃。此次遷駐關廟新校區，歷經多年規劃與籌建，在各級長官及地方政府的協力下完成，未來將以更優質的設施環境，持續深化砲兵教育訓練，精進官兵作戰技能，強化國軍地面火力戰力。

未來，原永康營區將由市府規劃轉型為「永康創意設計園區」與「科技產業服務與研發園區」，成為北臺南科技新門戶，延續地方發展能量。而砲訓部則將在關廟湯山新校區持續深化教育訓練任務，承先啟後、再創砲兵榮光。


taiwan-subdivisions: 湖口 新竹 和平 新興

countries: 台灣 美國

content_text:
▲地表最強戰車M1A2T。（圖／翻攝國防部發言人）

記者鄒鎮宇／綜合報導

國防部向美國購置的M1A2T戰車，首批38輛在去年底完成交付作業，首支完成換裝訓練的陸軍584裝甲旅第3聯兵營，31日在新竹湖口舉行成軍典禮。其中，M1A2T戰車的軍人臂章，繡上「Taiwan ARMY」。

我國現有的主力戰車CM11勇虎式、M60A3巴頓戰車平均服役已40年，遠遠落後對岸戰車一個世代以上。為此，國防部在2019年與美國簽訂405億採購的M1艾布蘭戰車（M1 Abrams）採購合約，採購型號M1A2T戰車108輛，首批38輛已在2024年12月完成交付，後續預計2026年陸續抵台。

▲新部隊的臂章繡上「台灣陸軍」。（圖／翻攝國防部發言人，下同）

M1艾布蘭戰車目前為美國陸軍主力戰車，火力、防護力當今首屈一指，從1980年開始在美國陸軍服役，1991年的波斯灣戰爭首度實戰展現優異性能，到如今的俄烏戰爭，戰力獲無數實戰驗證，未來將是我國地面戰力重要一環。

總統賴清德表示，新興單位的成軍是全新挑戰，更展現國軍邁向新訓練、新思維的重要里程碑；他強調，強化國防是為了保家衛國，只有實力才可以帶來真和平，「簽訂和平協議無法帶來和平，接受侵略者的主張、放棄主權，更無法達到和平」，要不卑不亢維持現狀，堅決反併吞、反侵略，反對推進統一、反對一國兩制。

title: 地表最強戰車M1A2T成軍　軍隊臂章繡上「台灣陸軍」


title: CINDY CHAO編織胸針如華美高訂布料　25克拉橘棕鑽驚豔全場

content_text:
▲CINDY CHAO The Art Jewel年度藝術珠寶展《時光築藝》與藝術家游文富合作，打造詩意空間。（圖／CINDY CHAO提供，以下同）

記者陳雅韻／台北報導

珠寶藝術品牌CINDY CHAO The Art Jewel即起至9日於富邦美術館附屬商業棟舉辦度藝術珠寶展《時光築藝（Sculpting Time）》，珠寶設計師Cindy Chao（趙心綺）攜手當代裝置藝術家游文富共同策劃，透過10萬支竹與寶石、羽毛與光影的對話，探索「如何以最堅硬的材質，雕琢出最柔軟的生命詩意」，呈現沈浸式的藝術體驗。全場亮點是首度公開兩件2025年度Black Label Masterpieces大師系列作品落地生根胸針與編織胸針，靈動的姿態與大膽的配色，彰顯品牌不斷尋求突破的精湛工藝，以及豐富的美學涵養。

▲Cindy Chao步入以橙紅漸變呈現日落時分絢爛的展覽走廊，勾起她2021年獲法國文化部授予「法國藝術與文學騎士勳章」的美好回憶。

▲藝術家游文富於展覽外牆以陽光為主題的竹藝作品前留影。

談及今年最具挑戰性的作品，Cindy Chao表示是歷時3年打造的Black Label Masterpieces大師系列作品編織胸針，靈感源自她在法國高級訂製服周，親自在愛牌工坊摸到著名的斜紋軟呢，觸動她想將此華美布料化為永恆，運用鈦金屬、黃金創造出近百個部件，如絲帶般橫向或縱向交織出立體層次，鑲嵌鑽石、藍寶石、紫色藍寶石、紫色石榴石構成漸層色調，最令人驚喜的是中央鑲25克拉、VVS2 淨度的祖母綠切割橘棕鑽，絕妙的配色成功吸睛。

▲CINDY CHAO 2025 Black Label Masterpiece V大師系列編織緞帶胸針，主石25克拉祖母綠切割深彩橘棕鑽。

CINDY CHAO另一重量級作品Black Label Masterpieces大師系列作品落地生根胸針，生動展現一片飄落的葉邊緣竟綻放出鮮綠新芽的意象，水滴球形祖母綠水水嫩嫩宛如嫩芽萌發且能微微顫動，讓人感受到無窮的生命力，Cindy特別選用天然牛角製作葉梗，展現溫潤有機的質感；此外，深受藏家青睞的四季系列最新力作也搶先在台曝光，展出兩款全新楓葉胸針，體現陽光穿透楓葉的光影與色彩變化之美。此次展覽除了安排貴賓鑑賞日，11月8日、9日向公眾開放，需先上官網預約。

▲CINDY CHAO 2025 Black Label Masterpiece II大師系列落地生根胸針。

▲CINDY CHAO 20周年系列羽毛胸針主石為3克拉馬眼切割濃彩黃鑽。

▲CINDY CHAO全新四季系列楓葉胸針主鑽是3克拉馬眼型濃彩黃鑽。

法國珠寶品牌CHAUMET則攜手卡達知名國際藝術機構激盪出新火花，推出獨家冠冕創作計畫，邀請中東地區藝術家與設計師以嶄新視角詮釋冠冕藝術，由卡達藝術家艾莎阿拉提雅（Aisha Alattiya）脫穎而出，其設計作品以融合中東文化傳承與自然靈感為主軸，在梅雅莎阿勒薩尼公主殿下（Her Excellency Sheikha Al Mayassa bint Hamad Al Thani）支持下，創作出「漠羽秘境」冠冕（Houbara Haven: A Chaumet Tiara），設計靈感源自中東地區常見的沙漠植物阿瓦賽植株（Awsaj），該植物能在荒蕪沙漠中開花結果，象徵生命力與堅韌，同時結合鏤空羽翼造型致敬卡達引以為傲的「獵鷹傳統」，冠冕上鑲嵌多顆天然珍珠，呼應卡達悠久的潛珠文化，左右兩朵花卉可拆卸作為胸針，藏於花後的兩隻翎頜鴇也翩然現身，別具巧思。

▲CHAUMET歷時逾850小時的製作的「漠羽秘境」冠冕。（圖／CHAUMET提供，以下同）

▲CHAUMET冠冕設計致敬卡達引以為傲的「獵鷹傳統」，以鏤空的羽翼造型展現雄鷹的氣勢，並模擬翎頜鴇棲息於枝間的意象。

countries: 法國 卡達


title: 習近平會見高市早苗！過程中提到台灣　籲日「恪守重要共識」

countries: 台灣 日本 韓國 中國

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▲習近平會見高市早苗，呼籲日本遵守重要共識。（圖／路透）

記者柯振中／綜合報導

中國國家主席習近平於10月31日下午在韓國慶州出席亞太經合組織（APEC）第三十二次領導人非正式會議期間，應約會見日本首相高市早苗。雙方就中日關係及區域合作交換意見，並一致表示將推動兩國關係朝穩定與建設性方向發展。

習近平指出，中日兩國地理相近、經貿往來密切，維持長期健康穩定的雙邊關係符合兩國人民與國際社會的期待。中方願與日方共同依循中日四個政治文件確立的原則，維護關係政治基礎，推進戰略互惠，打造契合新時代要求的中日關係。

▲習近平會見高市早苗，呼籲日本遵守重要共識。（圖／路透）

習近平強調，當前中日關係既有機遇亦面臨挑戰，期盼日本新內閣能建立正確認知，珍視前輩為雙邊友好所作的努力。他並提出五項建議：一是恪守重要共識，落實「以史為鑑、面向未來」等原則，維護中日關係根基；二是堅持合作共贏，在高端製造、綠色經濟、醫療養老與第三方市場等領域深化合作；三是促進民心相通，強化政府與地方交流；四是加強多邊協作，共同推動亞太穩定；五是妥善管控分歧，以大局為重、求同存異。

高市早苗回應表示，中國是日本重要鄰國，兩國對地區與世界和平繁榮均有重大責任。日方願持續與中方保持高層溝通與各層級交流，推進戰略互惠關係，構建建設性、穩定的日中關係，並重申在台灣問題上將堅持1972年《日中聯合聲明》立場。


title: 周品均「女性犯錯不該被網性羞辱」　陳沂：犯錯被譴責是活該

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▲陳沂表示，「犯錯的人被輿論譴責，或是拿來當笑點都是活該」。（圖／翻攝自Facebook／陳沂）

記者許凱彰／綜合報導

前東京著衣創辦人、「電商女王」周品均31日發文說到，往往不只是被指責行為本身，還會被放大檢視私生活。她點出，「一個女生犯了錯，不代表就該被全網性羞辱。」對此，網紅陳沂發表自己的看法，這件事跟男女無關，犯錯的人被輿論譴責，或是拿來當笑點都是活該。

周品均發文表示，當一名女性犯錯，往往不只是被指責行為本身，還會被放大檢視私生活，甚至成為黃腔與嘲笑的對象，然後用這些否定她整個人的一切。她還直言：「這不是正義，而是羞辱。」並強調：「一個女生犯了錯，不代表就該被全網性羞辱。」

▲周品均發文表示，「一個女生犯了錯，不代表就該被全網性羞辱」。（圖／翻攝Mayuki周小葳粉絲專頁）

對此，陳沂則說到「周品均出來幫粿粿說話」，強調一個女性犯了錯，不代表就該被全網性羞辱。她認為這件事跟男女無關，犯錯的人被輿論譴責，或是拿來當笑點都是活該，「自己做的事，本來就該自己承受」。

陳沂表示，整件事裡最可惡的，是她（粿粿）跟王子用好朋友的身分掩蓋，明目張膽的公開放閃，讓老公戴綠帽，不管小孩還這麼小，也不在乎如果事情爆發對孩子傷害有多大，只在乎自己當下的渴望。她還說，她（粿粿）還好意思一直主打愛家愛老公愛小孩人設，真是讓人感覺無比噁心，對她開玩笑完全罪有應得。


title: 桃園捷運多元支付不多元？　議員要求比照北捷「黑屏進站」

content_text:
▲桃園市議員黃敬平質詢。（圖／擷取自市議會網站）

記者楊淑媛／桃園報導

桃園市議會定期大會31日進行桃園捷運公司工作報告，市議員黃敬平質詢指出，桃園捷運公司推動「多元支付」政策，強調民眾可使用多種電子支付工具進出閘門，但實際操作卻仍須民眾下載「悠遊付 Easy Wallet」App，並在App內開啟「嗶乘車」功能後方能感應進出，程序繁瑣，痛批此作法是「脫褲子放屁」。

黃敬平指出，目前桃捷所謂的多元支付系統僅支援具備NFC功能、Android 6.0以上版本的手機，蘋果iPhone用戶及其他非Android系統皆無法使用，與「多元」精神相去甚遠。桃捷應比照台北捷運「黑屏進站」機制，讓民眾可直接以手機內建的行動支付或交通卡感應搭車，而非強制下載特定App、增加使用門檻，徒增不便。

黃敬平強調，應持續優化多元支付服務，朝向「一機通用、多元支付、系統整合」的方向發展，讓乘客搭乘捷運更加便利、無縫接軌大台北運輸生活圈。

桃園捷運公司回應，將配合桃園捷運綠線整合作業，一併導入相同技術與系統，預計於115年底全面上線，屆時民眾可享有與北捷相同的便利體驗，不論手機系統皆可使用，也不再需要下載額外應用程式。


events: 酒駕 車禍

taiwan-subdivisions: 安定 安定區 善化

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▲台南安定區台19線國八側車道入口，31日發生自小客右轉擦撞機車車禍，警方到場處理事故。（rje記者林東良翻攝，下同）

記者林東良／台南報導

台南市安定區31日中午12時30分許，台19線國八側車道入口發生一起交通事故，葉姓男子駕駛自小客車沿台19線內側快車道南往北行駛，於路口右轉時，不慎擦撞同向直行的方姓男子重機車，所幸雙方並無酒駕情形。

警方指出，事故發生後，雙方駕駛均經酒測，結果皆為零反應。善化分局提醒，駕駛人行經交叉路口轉彎時，應提前駛入外側車道並減速慢行，注意周邊車輛動態，以維行車安全。

title: 台南安定台19線自小客右轉擦撞機車　所幸雙方無酒駕


title: 網路謠言衝擊生計　產銷班澄清無假冒農會名義

taiwan-subdivisions: 宜蘭 東山區

content_text:
▲養蜂產銷班推廣組澄清，其產品原料均來自經農會輔導、合法立案的產銷班蜂農，並非直接掛名農會販售。（圖／記者游瓊華翻攝，下同）

記者游瓊華／台中報導

網路流傳多年、指控特定蜂蜜產品假冒「東山區農會」名義販售，來源不實的謠言，近期再度對養蜂產業造成衝擊。對此，台南市東山區農會已在官網澄清，這些商品並非農會生產。而被影射的養蜂產銷班推廣組也出面說明，強調其產品原料均來自經農會輔導、合法立案的產銷班蜂農，並非直接掛名農會販售。

產銷班推廣組台中主任黃國輝表示，相關謠言已導致銷量在一年內腰斬超過一半。他解釋，產銷班與東山區農會輔導的蜂農合作已數十年，將收購的龍眼花蜜、蜂王乳等原料，加工製成喉糖、蜂蜜等產品，透過說明會、網購等通路銷售。為證明產品安全性，黃國輝出示多項文件，包括SGS農藥與動物用藥「未檢出」的檢驗報告、產品責任險投保證明，以及台灣養蜂協會核發的「國產蜂產品證明標章」授權書，強調所有產銷流程皆有紀錄可循。

面對部分民眾質疑產品價格偏高，宜蘭組主任蔡金河指出，台灣養蜂業正面临嚴峻挑戰。受氣候變遷及蜂農老化影響，近六年國內蜂蜜產量已近乎腰斬，從過去能外銷，到現在內銷供應都顯得吃緊，導致原料收購價格逐年攀升。

產銷班表示，他們努力為蜂農打開通路，卻屢遭不實謠言與同業中傷，甚至有人冒用其名義詐騙，嚴重影響營運。他們呼籲外界停止散播錯誤訊息，並已委請律師蒐證，不排除採取法律途徑，以維護蜂農與整體產業的永續發展。