This podcast covers Israel's evacuation orders in Gaza, South Korea's defense industry boom, and the rising number of wealthy Argentines moving to Uruguay to avoid high taxes.
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Quick takeaways
Israel plans new ground offensive in Gaza, ordering Palestinians to evacuate a large area.
South Korea's defense industry has become a top 10 exporter due to demand from European countries seeking affordable and NATO-compatible weaponry.
Deep dives
Israel orders Palestinians to evacuate southern Gaza
Israel is planning a new ground offensive on the largest city in southern Gaza and has ordered Palestinians to evacuate a large area. Aerial bombings have intensified since the truce with Hamas fell apart. The UN says the evacuation orders are not practical as most of the population is already packed into the southern part of Gaza. Israel has suggested a safe zone for civilians to evacuate to.
South Korea becomes major player in defense industry
South Korea has become one of the world's top 10 defense exporters due to Russia's war in Ukraine, which generated more demand for weapons. European countries, hesitant to buy arms from Russia, turned to South Korea for affordable and NATO-compatible weaponry. Their large capacity for producing weapons for land confrontations and willingness to offer generous financing terms make them competitive for European countries.
Wealthy Argentines flock to Uruguay due to stability and tax incentives
Wealthy Argentines are moving to Uruguay due to its stability, rule of law, good quality of life, and favorable tax breaks offered by the president. Uruguay, known as the 'Switzerland of Latin America,' shares cultural similarities with Argentina, making it an attractive destination. This exodus poses challenges for Argentina, such as brain drain and loss of money and creative business members. The new government will need to implement policies to restore confidence and stop the flow of migration to Uruguay.
Israel has ordered Palestinians in Gaza to evacuate a large area of land in the south of the strip, South Korea has become a top 10 defence exporter since the start of the war in Ukraine, Prime Minister Narendra Modi’s Bharatiya Janata party has won a series of resounding victories in India’s state polls, and wealthy Argentines are moving to Uruguay to avoid high taxes.
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.