FT News Briefing

Global markets are anxiously eyeing the debt crisis of the Chinese property giant Evergrande, but experts argue it's not a scenario akin to Lehman Brothers. Foreign investors, particularly from China and Japan, are stepping in to stabilize U.S. Treasuries amid Federal Reserve uncertainties. Additionally, Coinbase has scrapped its lending product plans due to SEC pressure. On a lighter note, a collaboration between a Russian firm and a U.S. brewery is resulting in ultra-low carbon beer cans, showcasing innovative sustainability in design.

James Kynge, Global China editor at the Financial Times, dives deep into China's intricate web of data control and regulation. He discusses how Beijing is reshaping major tech platforms like Alipay, pushing for state ownership and centralization. Kynge highlights the tech industry's challenges under the Communist Party's tightening grip, raising concerns for innovation and investment. He also sheds light on Xi Jinping's vision for an authoritarian society, with extensive surveillance that influences everyday life. A thought-provoking insight into China's digital dictatorship!

Elif Shafak, a prominent Turkish-British novelist and advocate for freedom of speech, discusses her experiences writing in restrictive environments. She shares insights about her latest work, The Island of Missing Trees, exploring themes of identity and cultural heritage. The conversation touches on the impact of childhood memories on personal narratives and the importance of nuanced storytelling in addressing historical trauma. Shafak emphasizes the power of stories to foster understanding and connection in a divided world.

Laos is boldly stepping into the crypto world by authorizing cryptocurrency mining and trading, thanks to its abundant hydropower resources. Meanwhile, the European Central Bank anticipates reaching its inflation target by 2025. The podcast also sheds light on the ongoing struggles of Myanmar's shadow government against military forces. Plus, it examines the challenges regulators face in monitoring cryptocurrency activities amidst rising criminal concerns and the impact on traditional banking.

A new security partnership between the US, UK, and Australia aims to bolster defenses against China through nuclear submarines. In Canada, Prime Minister Trudeau faces a brewing challenge from the Conservative Party as elections loom. Meanwhile, Amazon is diving into healthcare, leveraging voice technology to enhance surgical efficiency and aiming to integrate its vast resources into the medical field. However, the company faces skepticism from competitors and regulatory hurdles, particularly in its plans affecting Didi Chuxing's market presence.

US consumer prices are finally showing signs of moderation, while spending remains strong despite pandemic fears. Blackstone's ambitious $3 billion takeover of a Chinese property developer was thwarted by regulatory delays, highlighting the tricky landscape for foreign investment. Meanwhile, China's property market is grappling with government restrictions on land auctions aimed at cooling soaring prices. The shifting dynamics have even impacted outdoor advertising as commuting habits change in a post-pandemic world.

China's controversial anti-fraud app is probing users who access overseas financial news, raising questions about online surveillance. Meanwhile, Brazil makes headlines with its first openly gay state governor entering the presidential race. The food industry feels the pinch as rising oil prices affect baking companies, spotlighting the ongoing food vs. fuel dilemma. Additionally, challenges arise for oil companies trying to secure sustainable diesel feedstocks, and the conservative social network Parler is rising from the ashes.

Beijing is planning to break up Alipay, forcing it to create a separate app for its lucrative loans. Norway's elections are heating up as climate concerns take center stage, challenging its oil-dependent economy. Meanwhile, hedge funds are making waves in Silicon Valley, significantly increasing their investments and competing fiercely with traditional venture capitalists. This shift promises to reshape the tech investment landscape, offering new opportunities but also intensifying competition.

Jon Boone, a former Kabul correspondent for the FT, offers a compelling look at the 'New Afghanistan' generation, discussing their dreams and the stark reality of life under the Taliban. He shares poignant stories of hope and despair from Kabul, highlighting the emotional toll of political upheaval. The episode also touches on a woman’s harrowing escape from Afghanistan to Albania, illuminating the struggles faced by refugees. Throughout, the impact of 9/11 on personal and societal narratives over the years is thoughtfully explored.

Leading economists signal an imminent rise in US interest rates to combat inflation. The European Central Bank hints at reducing its bond-buying as the economy improves. Meanwhile, regulatory tensions heat up between the SEC and Coinbase over new crypto lending products, raising fears of stricter oversight. On the global stage, the looming risk of default from China's Evergrande highlights potential turmoil in the property market and its repercussions for international investors. A dynamic landscape for finance enthusiasts!