FirstFT: China steps up threats over possible Pelosi visit to Taiwan

Good morning. This article is a local version of our FirstFT Newsletter. Subscribe to us Asia, Europe/Africa or America edition to receive it straight to your inbox every weekday morning

China has stepped up his threats of Nancy Pelosi’s potential visit to Taiwan this week and naval exercises in the region just hours before the speaker of the US House of Representatives is expected to arrive in East Asia.

Pelosi’s office announced that a congressional delegation led by the speaker departed on Sunday for Singapore, Malaysia, South Korea and Japan. The statement did not confirm if Pelosi will follow through with his plans to visit Taiwan, the self-governing island that Beijing claims is an integral part of its sovereign territory, and if so, when.

The purpose of the trip, which has further strained fragile Sino-US relations, is “to reaffirm America’s strong and unwavering commitment to our allies and friends in the region,” Pelosi’s office said. The six-member delegation includes the heads of the House Foreign Affairs and Armed Services committees.

Last week, during their first video call since March, Chinese President Xi Jinping told his US counterpart Joe Biden that the US was “playing with fire” by not stopping visits by US delegations, which the Chinese government regards as “intervention by external forces.” in their internal affairs.

On a Chinese social media site on Saturday, Hu Xijin, an outspoken former state media editor, said, “It’s okay. [for the People’s Liberation Army] shoot down Pelosi’s plane” if he is escorted to Taiwan by US fighters.

Thank you for reading FirstFT Asia. Do you have any feedback on today’s newsletter? Share with me on firstft@ft.com. — Emily

1. West slows down efforts to curb Russian oil trade European governments have leaned back on efforts to curb Russian oil trade, delaying a plan to shut Moscow off vital Lloyd’s of London marine insurance market and allowing some international shipments amid fears of rising oil prices and shrinking global energy supplies.

  • More about the war in Ukraine: President Volodymyr Zelensky called on residents of the easternmost Donetsk region of the country leave the province as Russia continues its offensive to conquer the area.

2. Pakistani officials call for an end to the investigation of donations to Imran Khan’s party. Pakistani politicians urged electoral authorities start an investigation to former Prime Minister Imran Khan’s party the weekend after It is reported by the Financial Times. that it allegedly received prohibited donations from foreign individuals and companies.

3. Surge in sales of Chinese dim sum bonds Sales of international bonds in yuan grew up this year as the nation’s fixed-income investors, lacking decent returns at home, are taking advantage of the new market access to buy up high-yielding Chinese currency debt abroad. The volume of outstanding dim sum bonds – yuan-denominated debt sold in Hong Kong – rose 145% year-over-year to 126.8 billion yuan ($19.3 billion).

four. Japan’s unvaccinated youth hold the record for highest number of Covid infections The proliferation of the highly transmissive BA.5 Omicron sub-variant has led to record number of daily cases of Covid in Tokyo and cities across Japan, surpassing 230,000 for the first time last week. People under 30 together account for about half of all new cases.

5. Jack Ma plans to relinquish control of Ant Group The Chinese billionaire plans to relinquish control of the fintech group he co-founded. further postponement of initial public offering plans. The suspension of Ant’s IPO in November 2020 triggered widespread regulatory action against Chinese tech groups, including billions in fines for Ant subsidiary Alibaba.

The next day

American Chamber of Commerce in Singapore Meets with Pelosi The group said it will be hosting an in-person event with Speaker of the U.S. House of Representatives Nancy Pelosi this afternoon.

Chinese Army Day Today is celebrated 95 years old or the creation of the People’s Liberation Army of China. President Xi Jinping attended the anniversary reception hosted by the Ministry of National Defense yesterday.

S&P Global Manufacturing PMI data Purchasing Managers Index for Eurozone, France, Germany, Japan, UK, USA.

What else do we read

Singapore accelerates executions singapore haunts adherence to the death penalty Critics say it has highlighted regressive policies in one of the world’s most liberal economies. The wealthy city-state has attracted wealthy expatriates, but its treatment of foreigners convicted of trafficking even small amounts of drugs reveals Singapore’s dark side, activists say.

Execution rate bar chart showing Singapore speeding up executions after a two-year delay

Olympic pain barrier beckons Japan again Sapporo City wants to hold Winter Games 2030 despite the hard lessons of last year’s sports festival. Local officials say they have solid public support, but they are adept at avoiding a vote that could lead to a majority against hosting the Games, writes Leo Lewis.

The nightmare that air travel is today Air travel is the only mode of transport that has rolled back over the past 20 years. written by Pilita Clark. Trains are now faster. Buses are less polluting. Cars are smarter and more electric. So are bicycles, ferries and trucks. Flying, on the other hand, is considerably more horrendous than before.

“Now it’s chaos” The low-profile Kuwait Investment Authority came into the spotlight last week after the head of its London investment arm was fired. FT journalists get inside one of the most powerful and respected sovereign wealth funds, torn apart by internal conflict.

Disney after “Don’t Say Gay” Since its inception, the entertainment giant has catered to the traditional nuclear family, but over the past 30 years it has also become a Mecca for LGBT+ people. Disney battling arguably the worst advertising crisis in its history due to leaders’ bumbling response to a Florida bill banning discussion of “sexual orientation or gender identity” in schools.

gardens

As a threat insect apocalypse looms, a new wave of apps and the magic of artificial intelligence are helping gardeners encourage bees, butterflies and more. Check out these high-tech ways to welcome insects into your garden.

The Harvard version of the RoboBee, which is being developed to pollinate plants © National Science Foundation

Thanks for reading and remember that you can add FirstFT to my ft. You can also choose to receive a FirstFT push notification every morning within the app. Send your recommendations and feedback to firstft@ft.com. Subscribe gentlemen.

shattered times – Documenting business and economic changes between Covid and conflict. Subscribe gentlemen

I’m working on it – Learn about the big ideas shaping the workplace today in this weekly newsletter from Jobs & Careers Editor Isabelle Berwick. Subscribe gentlemen