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Dear reader,
Whether people hold it or not, record-high gold prices are giving the public in China something to worry about. With volatility high, inflation lurking and interest on bank deposits at dreary lows, the metal is one of the most practical ways of trying to preserve wealth. For householders, though, the fear is it’s a lose-lose situation – they’re either too late to the party or at risk of forfeiting it all if the bubble bursts.
For a close look at developments in China’s military, explore The Red Arsenal.
The Big Picture
Zero tolerance
Zhang Youxia, China’s high-ranking general, is brought down in a shock investigation.
- Why it matters: the sudden announcement is believed to send a strong message on party purity
- Meanwhile, why have leaders praised late general Liao Xilong?
Political football
Beijing rolls out the red carpet for Keir Starmer, the first British prime minister to visit China since 2018.
Plan of attack
The US releases its new defence strategy, outlining the country’s security environment and priorities.
- Why it matters: the strategy defines the US rivalry with China and how that affects the “homeland”
- Meanwhile, could a new dry dock help the PLA to plug a “carrier gap”?
- And, whose supply lines would be more vulnerable in a protracted Pacific conflict?
- Also, should China follow the US lead on cheaper munitions, has the J-20 jet had major updates and where is Taiwan in the US’ playbook?
Wins and Fails
Darwin Port resurfaces as a bone of contention between Beijing and Canberra
KMT deputy Hsiao Hsu-tsen will head to Beijing with a cross-strait delegation
Big Numbers
11 – the number of members of a Myanmar crime syndicate executed in China over telecoms fraud
US$6,000 – the price per ounce that gold might hit this year
200 – the number of drones in a swarm that one PLA soldier can control
Direct Quote
"Three of the five members of the P5 are trying to trample the global order and China is the least offensive of them.”
An EU official on the new world of great powers, referring to the five permanent members of the UN Security Council in the aftermath of the Greenland episode.
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