Flagship

China tries to boost sinking market

Chinese leader Xi Jinping will reportedly meet with top stock market regulators this week as the country contends with a rapidly worsening economy. Stocks listed in Hong Kong and mainland China have lost $7 trillion of value since 2021, and Chinese shares briefly sunk to five-year lows this week. It’s not clear if a potential stimulus measure may result from the talks, but government officials need to ensure the market stabilizes before China enters the Lunar New Year holiday period next week to “avoid further hurting consumer confidence,” Bloomberg reported. China has repeatedly introduced measures over the last year designed to reassure investors, but the relatively modest policies have not been enough to combat troubling economic indicators, such as high levels of youth unemployment and mammoth amounts of debt.

Court rejects Trump’s immunity

Former President Donald Trump is not immune from prosecution for events related to the Jan. 6, 2020 riot on the U.S. Capitol, a federal appeals court ruled Tuesday. Judges unanimously agreed that any executive immunity he had at the time “no longer protects him” as a private citizen, rejecting Trump’s argument that prosecuting presidents after their term could make them hesitant to act within their role. The ruling is a major setback for Trump, who faces numerous criminal and civil cases, though the legal battles have not yet dented his standing in the polls: He remains the overwhelming frontrunner for the Republican presidential nomination. Trump has vowed to appeal the ruling, setting the stage for a Supreme Court showdown.

Israel says more hostages dead

Israel said on Tuesday that it had informed the families of 31 hostages taken by Palestinian militants during the Oct. 7 attack that launched the current Gaza war that their loved ones were dead. The deaths — amounting to a fifth of those held in the enclave — shocked many in Israel as the government negotiated a truce with Hamas in which hostages would be released in return for the freeing of Palestinians held in Israeli jails. Hamas’ leaders acknowledged they were reviewing the deal proposed by the U.S., Egypt, and Qatar, which would also increase food and medical aid to Gaza.

EU proposes gender violence rules

The European Union on Tuesday proposed new rules aiming to crack down on violence against women. In addition to addressing issues like forced marriages and domestic violence, the bill criminalizes online harassment of women: Politico reported that the topic gained greater urgency after artificial-intelligence-generated graphic images of superstar Taylor Swift began circulating on X in January. Powerful EU members — including Germany and France — opposed adding a bloc-wide consensus on rape, however, arguing that its inclusion would ultimately doom the proposed rules. Feminist voters have lashed out at leaders like French President Emmanuel Macron, who campaigned on a promise to tackle gender-based violence.

China contends with copycats

China’s homegrown brands are now contending with an issue Western companies have long complained about: counterfeits. As beverage producers like Luckin Coffee and Heytea find success abroad in places like Thailand and Singapore, they’re “discovering one of the pitfalls of international success: imitators,” The Wall Street Journal reported. The number of Chinese companies that applied for trademark protection tripled from 2017 to 2022, and intellectual property experts say they need to rely on the same tactics Western brands learned when they entered China, such as registering trademarks early and closely monitoring their use.

Brazil’s promising dengue vaccine

A new single-dose dengue fever vaccine developed in Brazil was nearly 80% effective in a major trial. Dengue is on the rise around the world: There were 6 million reported cases and more than 6,000 deaths in 2023, according to one estimate. Brazil is among the most affected countries: Tens of thousands of people are hospitalized with the disease there annually. Other vaccines already exist, but require costlier multiple doses that are more complicated to administer. The trial of Butantan-DV, developed by the São Paolo-based Butantan Institute, is believed to be the largest clinical trial ever in Brazil. The researchers hope to have full approval by 2025.

Thailand looks to ban weed

Thailand is moving to ban recreational cannabis use, just two years after the country became the first in Asia to decriminalize the drug. Prime Minister Srettha Thavisin, who took office in August, has repeatedly voiced opposition to non-medical use of the plant, arguing that decriminalization could lead to “wider narcotic drug problems.” Once notorious for its strict drug laws, Thailand is now home to a booming weed industry, though oversupply has led prices to fall in recent months. Public sentiment toward legal cannabis has also soured: Attendees at a Coldplay concert in Bangkok last weekend reportedly complained the venue reeked of weed.

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Global tech layoffs mount

The global tech industry is off to a rough start in 2024, with more than 33,000 workers already having lost their jobs. This week Snap said that it was cutting 10% of its workforce, affecting about 540 employees. Tech giants — grappling with interest rates that have risen sharply in the past year and a half as well as a tech downturn that has “lasted longer than initially expected,” the tracking website layoffs.fyi told the South China Morning Post — have been shedding staff taken on during the pandemic, when tech was booming. The other big culprit: Big Tech’s turn to artificial intelligence, which could potentially cheaply replace many workers.

SKorea doctors prepare to strike

South Korea plans to raise annual enrollment at medical schools by more than 65% next year to address a shortage of doctors, angering existing physicians who are now threatening to strike over the move. Korean doctors argue the plan will lower standards and want authorities to enhance working conditions and raise wages instead, strategies they say would encourage physicians to work in medical deserts. South Korea is known as a hotspot for plastic surgery, but emergency services are relatively underdeveloped, particularly in rural areas. The country has 2.5 physicians per 1,000 people — far below the OECD average of 3.7 — leading to a healthcare “crisis” where patients are dying from lack of immediate services.

Giant tortoises return to Madagascar

Aldabra giant tortoises are breeding in Madagascar for the first time in 600 years. The 700 lb, or 317 kg, herbivorous reptiles may seem like unlikely swimmers, but they’re actually quite buoyant, and over millions of years have spread around the islands of the Indian Ocean. Madagascar’s were eradicated by hunters in the 15th century, but in 2018, a dozen were brought from the Seychelles. The reintroduction has been successful, with the originals having had 154 babies. One of the project’s leaders wrote in The Conversation that they plan to bring the tortoises outside the wildlife reserve they currently live in and let them loose across Madagascar: They eat shrubs, reducing wildfire risk, and spread seeds in their dung.

February 29 | Washington D.C.
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Feb. 7

• Azerbaijan votes in snap presidential elections that incumbent Ilham Aliyev is expected to win.
• European Parliament members debate how to respond to recent farmers’ protests across the continent, one group of whom plan to block access to a port in Spain.
• Alibaba, Roblox, and Yum Brands report fourth-quarter earnings.

Beijing’s traditional hutong houses — homes with historic courtyards found along narrow streets and alleys — are becoming the go-to place for wealthy Chinese to buy art and home decor. Many families, particularly in northern China, still live in these old homes, but their living conditions “have become increasingly outdated,” prompting many to turn them into trendy cafes, shops, and art galleries, Chinese business newsletter Baiguan reported. Chinese consumers are increasingly looking for guidance on “not just on what to buy, but on how to live,” Baiguan wrote, with some of China’s top social media influencers focusing on lifestyle content.

• The men’s basketball team at Dartmouth is one step closer to unionizing.
• Russian forces adapt military strategy as war enters third year.
• A Chinese-born Australian writer was just handed a death sentence by a Beijing court.