Ethan Zhao
Senior Reporter
The Latest
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Oil Tankers U-Turn in Hormuz as China Orders Emergency Daily Check-Ins Amid Strike Fears
Crude oil markets surged and global shipping routes reeled on Monday after U.S. airstrikes on Iranian nuclear facilities sparked fears of retaliation in the Strait of Hormuz, the world's most critical maritime oil chokepoint. Supertankers began zig-zagging, U-turning, or anchoring outside the strait, and freight rates for very large crude carriers (VLCCs) more than doubled in a week to over $60,000 per day, according to freight data. 
Crude oil markets surged and global shipping routes reeled on Monday after U.S. airstrikes on Iranian nuclear facilities sparked fears of retaliation in the Strait of Hormuz, the world's most critical maritime oil chokepoint. Supertankers began zig-zagging, U-turning, or anchoring outside the strait, and freight rates for very large crude carriers (VLCCs) more than doubled in a week to over $60,000 per day, according to freight data. -
China Condemns British Warship Transit Through Taiwan Strait
A Royal Navy patrol vessel transiting the Taiwan Strait has triggered a fierce response from China, which accused the United Kingdom of "deliberately causing trouble" and undermining regional peace. The HMS Spey sailed through the contested waterway on Wednesday in what the U.K. Defense Ministry described as a routine "freedom of navigation operation" consistent with international maritime law. 
A Royal Navy patrol vessel transiting the Taiwan Strait has triggered a fierce response from China, which accused the United Kingdom of "deliberately causing trouble" and undermining regional peace. The HMS Spey sailed through the contested waterway on Wednesday in what the U.K. Defense Ministry described as a routine "freedom of navigation operation" consistent with international maritime law. -
China’s New Housing Demand to Stay 75% Below 2017 Peak, Goldman Sachs Warns
China's demand for new homes is projected to remain nearly 75% below its 2017 peak over the coming years, according to a new forecast from Goldman Sachs, underscoring deepening structural challenges in the country's property market. The investment bank cited a combination of demographic shifts, weakening investor sentiment, and a pivot in government policy as reasons for the prolonged downturn. 
China's demand for new homes is projected to remain nearly 75% below its 2017 peak over the coming years, according to a new forecast from Goldman Sachs, underscoring deepening structural challenges in the country's property market. The investment bank cited a combination of demographic shifts, weakening investor sentiment, and a pivot in government policy as reasons for the prolonged downturn. -
Kim Jong Un Relaunches Damaged Destroyer, Pledges Naval Expansion Against U.S. ‘Provocations’
North Korean leader Kim Jong Un presided over the relaunch of a 5,000-ton destroyer that partially sank during its failed inauguration last month, vowing to accelerate naval expansion and deploy warships deeper into the Pacific Ocean as tensions with the United States escalate. 
North Korean leader Kim Jong Un presided over the relaunch of a 5,000-ton destroyer that partially sank during its failed inauguration last month, vowing to accelerate naval expansion and deploy warships deeper into the Pacific Ocean as tensions with the United States escalate. -
China Downplays Trump’s ‘Done Deal' as U.S. Sets Fixed 55% Tariff on Imports
President Donald Trump declared a new trade agreement with China "done" on Wednesday, framing it as a breakthrough on tariffs, rare earths, and educational exchanges. However, Chinese officials characterized the result as a preliminary framework rather than a finalized deal, underscoring the unresolved tensions between the two economic superpowers. 
President Donald Trump declared a new trade agreement with China "done" on Wednesday, framing it as a breakthrough on tariffs, rare earths, and educational exchanges. However, Chinese officials characterized the result as a preliminary framework rather than a finalized deal, underscoring the unresolved tensions between the two economic superpowers. -
Hong Kong Police Warn Downloading Taiwan-Linked Game May Violate National Security Law
Authorities in Hong Kong warned on Tuesday that downloading or promoting a mobile game developed in Taiwan could lead to prosecution under the city's national security law, accusing it of advocating "armed revolution" and supporting secessionist ideologies hostile to Beijing. 
Authorities in Hong Kong warned on Tuesday that downloading or promoting a mobile game developed in Taiwan could lead to prosecution under the city's national security law, accusing it of advocating "armed revolution" and supporting secessionist ideologies hostile to Beijing. -
U.S.-China Trade Truce Restored as Trump Touts Rare Earth Supply, Student Visa Concessions
President Donald Trump on Wednesday said China would supply rare earth materials "up front" to the United States under a new trade framework he described as a "great WIN for both countries," while declaring that U.S. tariffs on Chinese goods would remain as high as 55%. 
President Donald Trump on Wednesday said China would supply rare earth materials "up front" to the United States under a new trade framework he described as a "great WIN for both countries," while declaring that U.S. tariffs on Chinese goods would remain as high as 55%. -
U.S., China Reach Tentative Trade Framework, Seek Approval From Trump and Xi
The United States and China reached a tentative framework agreement on Tuesday aimed at de-escalating trade tensions and resolving dueling export restrictions, following two days of high-level talks in London. While the deal halts immediate escalation, major tariff threats remain unless both sides finalize a broader pact by August 10. The United States and China reached a tentative framework agreement on Tuesday aimed at de-escalating trade tensions and resolving dueling export restrictions, following two days of high-level talks in London. While the deal halts immediate escalation, major tariff threats remain unless both sides finalize a broader pact by August 10. -
China Deploys Two Warships Beyond U.S. Pacific Line for First Time, Shocking Japan and Pentagon
China deployed two aircraft carriers in the western Pacific for simultaneous operations over the weekend, marking the first known instance of such a maneuver beyond the strategic Second Island Chain, Japanese defense officials said Tuesday. The move signals Beijing's deepening push to expand its blue water naval capabilities and challenge U.S.-led regional security architecture. 
China deployed two aircraft carriers in the western Pacific for simultaneous operations over the weekend, marking the first known instance of such a maneuver beyond the strategic Second Island Chain, Japanese defense officials said Tuesday. The move signals Beijing's deepening push to expand its blue water naval capabilities and challenge U.S.-led regional security architecture. -
Leaked FSB Memo Labels China ‘the Enemy’ as Russia Fears Beijing May Annex Vladivostok: Report
A leaked Russian intelligence document has revealed a dramatic divergence between Moscow's public diplomacy and internal national security posture, with the Federal Security Service (FSB) privately labeling China as "the enemy" and warning of growing espionage threats. The eight-page memo, obtained by The New York Times, indicates Russian security services fear Beijing's ambitions extend from espionage in Ukraine and the Arctic to the possible annexation of parts of Russia's Far East, including the port city of Vladivostok. 
A leaked Russian intelligence document has revealed a dramatic divergence between Moscow's public diplomacy and internal national security posture, with the Federal Security Service (FSB) privately labeling China as "the enemy" and warning of growing espionage threats. The eight-page memo, obtained by The New York Times, indicates Russian security services fear Beijing's ambitions extend from espionage in Ukraine and the Arctic to the possible annexation of parts of Russia's Far East, including the port city of Vladivostok.
