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FT journalist Henry Foy discusses a European politician who spied for China, revealing tactics used to divide Europe and US. Belgian intelligence strains to counter Chinese influence operations. TSMC's role in Taiwan's economy and environmental concerns are explored.
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- Corporate bankruptcies in advanced economies are on the rise, driven by higher interest rates and the need for companies to refinance their debt.
- A Belgian senator working as a Chinese intelligence asset highlights China's strategy of using spy operations to divide the US-European relationship.
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Increased Corporate Bankruptcies Due to Higher Interest Rates
Corporate bankruptcies in advanced economies are rising at double-digit rates, with a 30% increase year on year in the US and a 13% increase across the European Union. The main cause is higher interest rates implemented by central banks to combat inflation. This trend could worsen as many companies need to refinance their debt at much higher costs in the coming months. However, there is some good news as central banks have indicated that interest rates have peaked and cuts are expected next year.
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