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US President Donald Trump headed Saturday for Asia and high-stakes trade talks with Chinese counterpart Xi Jinping, saying that he would also like to meet North Korean leader Kim Jong Un on his trip.Trump is set to meet Xi in South Korea on the last day of his regional swing in a bid to seal a deal to end the bruising trade war between the world’s two biggest economies.He will also visit Malaysia and Japan on his first trip to Asia since he returned to the White House in January in a blaze of tariffs and international dealmaking.During a refueling stop on the way there, Trump is expected to meet Saturday with the emir and prime minister of Qatar — a key ally in preserving the fragile Gaza ceasefire deal.Trump told reporters aboard Air Force One that he hoped for a “very good meeting” with Xi, adding that he expected China to make a deal to avoid further 100 percent tariffs that are due to come into effect on November 1.A US Treasury spokesman told AFP that US and Chinese officials in Malaysia concluded a day of “very constructive” trade talks, which are expected to resume on Sunday.As he left Washington, Trump added to speculation that he could meet Kim for the first time since 2019 while on the Korean peninsula.”I’m open to it,” Trump said aboard the presidential plane. “I had a great relationship with him.”Asked if he was open to North Korea’s demand to be recognized as a nuclear state as a precondition for talks, Trump replied: “Well, I think they are sort of a nuclear power… They got a lot of nuclear weapons, I’ll say that.”The two leaders last met in the Demilitarized Zone that separates the two Koreas during Trump’s first term. Kim has said he would also be open to meeting the US president if Washington drops its demand that Pyongyang give up its nuclear arsenal.Seoul’s reunification minister has said there is a “considerable” chance that Trump and Kim will meet while the US leader visits South Korea.- Peace and trade deals -Trump’s first stop will be Malaysia, where he arrives on Sunday, for the Association of Southeast Asian Nations (ASEAN) summit — a meeting he skipped several times in his first term.Trump is set to sign a trade deal with Malaysia, and will witness the signing of a peace accord between Thailand and Cambodia in his continued quest for a Nobel Peace Prize.He said he also expected to meet Brazilian President Luiz Inacio Lula da Silva on the sidelines of the summit to improve ties with the leftist leader after months of bad blood.The US president’s next destination is Tokyo, where he arrives Monday. He will meet conservative Sanae Takaichi on Tuesday after she was named this week as Japan’s first woman prime minister.Takaichi said Saturday in a post on X that she had a “good and candid” initial conversation with Trump.Japan has escaped the worst of the tariffs Trump slapped on countries around the world to end what he calls unfair trade balances that are “ripping off the United States.”- Trump and Xi -The highlight of the trip is expected to be South Korea, with Trump due to land in the southern port city of Busan on Wednesday ahead of the Asia-Pacific Economic Cooperation (APEC) summit.Trump will meet South Korean President Lee Jae Myung, address an APEC lunch with business leaders and meet US tech bosses for dinner on the sidelines of the summit in the city of Gyeongju.He will meet Xi on Thursday for the first time since his return to office.Global markets will be watching closely to see if they can halt the trade war sparked by Trump’s sweeping tariffs, especially after a recent dispute over Beijing’s rare-earth curbs.Trump initially threatened to cancel the meeting and announced the fresh 100 percent tariffs during that row, before saying he would go ahead after all.He said he would also discuss fentanyl with Xi, as he raises pressure on Beijing to curb trafficking of the powerful opioid and cracks down on Latin American drug cartels.burs-jhe/ami/des

The Philippines is laying out the red carpet this week to some of golf’s biggest names, part of a grand government plan to diversify tourism with sport at the forefront.The Southeast Asian nation is pitching for a share of the huge golf tourism market in Asia that is projected to generate $9 billion by 2030, according to figures from US analysts Grand View Research. To showcase what the country can offer, the government has thrown its weight behind this week’s International Series tournament featuring four major champions and the cream of Asia.The country rakes in a shade over $40 billion a year from tourism, say official figures, but the contribution from golf is negligible. That is because the Philippines has not been an easy destination for cash-rich golf tourists, according to industry expert Mike Besa.Private clubs have been largely inaccessible to visitors, with members unwilling to share their facilities.”Golf in our country is difficult, at best,” Besa wrote in the Philippines Business Mirror newspaper.”Most times it’s just frustrating for the unseasoned traveller. “Even large tour operators have thrown their hands up in surrender at the rigours of doing business here.”- Presidential backing -It is far easier to go to Thailand, Malaysia, Vietnam or Japan, where tourists are readily accepted on the course and their cash is welcomed in the clubhouse.Lyle Uy, director for golf tourism and special projects at the Philippine government’s Department of Tourism, has been tasked with changing that landscape and opening up the game. He did not reveal details of the government’s financial investment in this week’s event, one of nine elevated International Series tournaments on the Asian Tour with a $2 million prize fund.But he said its support took many forms.”Number one is trying to convince our friends from different countries to look at the Philippines,” Uy told AFP in the shadow of the opulent Sta. Elena clubhouse, south of Manila.Out on the course, set in a sprawling private estate, former Masters champions Patrick Reed, Dustin Johnson and Charl Schwartzel pulled in big crowds against a backdrop of the Sierra Madre mountains.It is the most prestigious lineup ever assembled for a golf tournament in the Philippines. But the beautifully manicured fairways and greens may reinforce a view that golf is only for the rich in a country where poverty is rife and the average GDP per capita is about $4,000. In nearby Hong Kong it is $54,000.”Most of the golf courses here are private. More than 90 percent,” admitted Uy. “So we’re looking into actually extending the support to the owners of these properties so that they open up.”His department has powerful backing. Two years ago President Ferdinand Marcos Jr. declared an ambition to make the Philippines a sports tourism destination.- Accessible, affordable -Patrick Gregorio is chairman of the Philippines Sports Commission, which is responsible for developing athletes.He believes that the government commitment means they can convince clubs to throw open their doors to help grow the game.”When you say accessible that means affordable,” Gregorio told AFP. “I am sure that the private clubs will help. If we, the Philippines Sports Commission, give them a clear programme then they will support it.”It will really change the landscape of golf in the Philippines.”Tourism to the Philippines accounts for almost 10 percent of the country’s GDP, mainly generated from people seeking sand, sea, surf and scuba diving. “We are known for our beaches, but at the end of the day, there is a lot more to the Philippines,” said Uy.”It’s not only golf. We are looking into triathlon. We’re looking at running. Our marathons are starting to pick up. We have diving.”The push to make the Philippines a premier sporting destination does not begin and end with hosting a top-class golf tournament.In recent years the country has staged a Basketball World Cup, a Volleyball World Championship and the Southeast Asian Games.In conjunction with the top-class field this week, music concerts are part of an entertainment package to send a message that the Philippines should be on every golf tourist’s to-do list.”Hopefully the buzz around this event helps golf in the Philippines grow faster,” Reed, the 2018 US Masters champion, told AFP.”The easiest way to grow the game is to bring in the best players in the world to showcase golf and its fun side.”That’s what I think this week will do, especially for younger generations.”

US President Donald Trump left on Friday for Asia and high-stakes trade talks with Chinese counterpart Xi Jinping — adding that he would also like to meet North Korean leader Kim Jong Un on his trip.Trump is set to meet Xi in South Korea on the last day of his regional swing in a bid to seal a deal to end the bruising trade war between the world’s two biggest economies. He will also visit Malaysia and Japan on his first trip to Asia since he returned to the White House in January in a blaze of tariffs and international dealmaking.A senior US official said on Friday that Trump would “deliver for the American people in one of the most economically vibrant regions of the world, signing a series of economic agreements.”As he left Washington, Trump added to speculation that while on the Korean peninsula he could meet Kim Jong Un for the first time since 2019 during his first presidency.”I’d like to, he knows we’re going there,” Trump told reporters at the White House. “We let him know, he knows that I’m going.”Talk about a possible meeting with Kim while Trump is in South Korea for a regional summit grew after Seoul’s reunification minister said there was a “considerable” chance.The White House had said earlier that a meeting was “not on the schedule.”- Peace and trade deals -Trump’s first stop will be Malaysia, where he arrives on Sunday, for the Association of Southeast Asian Nations (ASEAN) summit — a meeting Trump skipped several times in his first term.Trump is set to ink a trade deal with Malaysia, but more importantly he will oversee the signing of a peace accord between Thailand and Cambodia, as he continues his quest for a Nobel Peace Prize.Brazilian President Luiz Inacio Lula da Silva may also meet Trump on the sidelines of the summit to improve ties after months of bad blood, officials from both countries told AFP.Trump’s next stop will be Tokyo, where he arrives on Monday. He will meet conservative Sanae Takaichi, named this week as Japan’s first woman prime minister, on Tuesday.Japan has escaped the worst of the tariffs Trump slapped on countries around the world to end what he calls unfair trade balances that are “ripping off the United States.” – Trump and Xi -But the highlight of the trip is expected to be South Korea, with Trump due to land in the southern port city of Busan on Wednesday ahead of the Asia-Pacific Economic Cooperation (APEC) summit.Trump will meet South Korean President Lee Jae Myung, address an APEC lunch with business leaders and meet US tech bosses for dinner, on the sidelines of the APEC summit in the city of Gyeongju.On Thursday, Trump will meet Xi for the first time since his return to office.Global markets will be watching closely to see if the two men can halt the trade war sparked by Trump’s sweeping tariffs earlier this year, especially after a recent dispute over Beijing’s rare earth curbs.Trump initially threatened to cancel the meeting and imposed fresh tariffs over the critical minerals row, before saying he would go ahead after all.”The president is most interested in discussing the trade and economic relationship,” another senior US official said.Trump himself said on Thursday that the first topic on the agenda would be fentanyl, as he boosts pressure on Beijing to curb drug trafficking and cracks down on Latin American drug cartels.

US President Donald Trump leaves on Friday for Asia and high-stakes talks with Chinese leader Xi Jinping — as Washington played down speculation that he could meet North Korea’s Kim Jong Un.Trump is set to meet Xi in South Korea on the last day of his trip, aiming for a “deal on everything” to end a bitter trade war between the world’s two biggest economies.The 79-year-old will also visit Malaysia and Japan on his first Asian trip since he returned to the White House in January in a blaze of tariffs and geopolitical deal-making.A senior US official said on Friday that Trump would “deliver for the American people in one of the most economically vibrant regions of the world, signing a series of economic agreements.”Talk about a possible meeting with Kim while Trump is in South Korea for a regional summit mounted after Seoul’s reunification minister said there was a “considerable” chance.But the US official said it was “not on the schedule,” despite both leaders having said they would like to rekindle the unlikely relationship they fostered during Trump’s first term.- Peace and trade deals -His first stop will be Malaysia, where he arrives on Sunday, for the Association of Southeast Asian Nations (ASEAN) summit — a meeting Trump skipped several times in his first term.Trump is set to ink a trade deal with Malaysia, but more importantly he will oversee the signing of a peace accord between Thailand and Cambodia, as he continues his quest for a Nobel Peace Prize.Brazilian President Luiz Inacio Lula da Silva may also meet Trump on the sidelines of the summit to improve ties after months of bad blood, officials from both countries told AFP.Trump’s next stop will be Tokyo, where he arrives on Monday. He will meet conservative Sanae Takaichi, named this week as Japan’s first woman prime minister, on Tuesday.Japan has escaped the worst of the tariffs Trump slapped on countries around the world to end what he calls unfair trade balances that are “ripping off the United States.” – Trump and Xi -But the highlight of the trip is expected to be South Korea, with Trump due to land in the southern port city of Busan on Wednesday ahead of the Asia-Pacific Economic Cooperation (APEC) summit.Trump will meet South Korean President Lee Jae Myung, address an APEC lunch with business leaders and meet US tech bosses for dinner, on the sidelines of the APEC summit in the city of Gyeongju.On Thursday, Trump will meet Xi for the first time since his return to office.Global markets will be watching closely to see if the two men can halt the trade war sparked by Trump’s sweeping tariffs earlier this year, especially after a recent dispute over Beijing’s rare earth curbs.Trump initially threatened to cancel the meeting and imposed fresh tariffs over the critical minerals row, before saying he would go ahead after all.”The president is most interested in discussing the trade and economic relationship,” another senior US official said.Trump himself said on Thursday that the first topic on the agenda would be fentanyl, as he boosts pressure on Beijing to curb drug trafficking and cracks down on Latin American drug cartels.Trump’s former advisor Steve Bannon told Politico the Xi talks were a risky move by the US leader given the huge implications if the talks collapse, calling it a “throw of the iron dice.” But analysts warned not to expect any breakthroughs.”The meeting will be a data point along an existing continuum rather than an inflection point in the relationship,” said Ryan Hass, a senior fellow at the Brookings Institution.

European automakers already buffeted by US tariffs and a rocky shift toward electric vehicles now face a new threat: a shortage of key semiconductors supplied by Chinese-owned Nexperia.Beijing is locked in a standoff with Dutch officials who invoked a Cold War-era law in September to effectively take over the company, whose factories are in Europe.Carmakers as well as parts suppliers have already warned of shortages that would force stoppages at production lines across the Continent.Who is Nexperia?The company produces relatively simple technologies such as diodes, voltage regulators and transistors that are nonetheless crucial, as vehicles increasingly rely on electronics.The chips are mainly found in cars but also in a wide range of industrial components as well as consumer and mobile electronics like refrigerators.It makes them in Europe before sending them to China for finishing, and are then re-exported back to European clients.Based in the Netherlands and once part of electronics giant Philips, it was bought by Wingtech Technology of China in 2018.But in September, the Dutch government took the unusual step of taking over the company, citing its “Goods Availability Law” of 1952 to ensure essential items.In response, China banned any re-exports of Nexperia chips to Europe, igniting fresh geopolitical tensions.Why is the automotive sector vulnerable?Nexperia supplies 49 percent of the electronic components used in the European automotive industry, according to German financial daily Handelsblatt.The European auto lobby ACEA warned this month that production would be seriously hit.”Without these chips, European automotive suppliers cannot build the parts and components needed to supply vehicle manufacturers and this therefore threatens production stoppages,” the group said.For Germany alone, analysts at Deutsche Bank forecast a production drop of 10 percent while warning of a 30-percent cut in a “worst-case scenario”.How are automakers responding? German auto giant Volkswagen has warned that it cannot not rule out “short term” production stoppages, while emphasising that it is searching for alternative suppliers.Nexperia does not supply it directly but some of its parts suppliers use its chips. Bosch, for example, says it has not yet reduced employee shifts at its German sites “but we are preparing to do so at our Salzgitter site”, a spokesman told AFP.But French parts maker Valeo said it had “visibility for the coming weeks” with regards to “all its components”. It said it had found alternatives for “95 percent of the volumes” bought each year from Nexperia, but “they haven’t yet been approved by our clients”. Other suppliers?According to OPmobility, another French parts maker, Nexperia’s chips, while widely used, are not “unique” in terms of technology and therefore “easily substitutable”. But suppliers have to get the new products approved by automakers, which cannot be done quickly.”They’re looking frantically for other suppliers but these firms cannot build production capacity overnight,” said Ferdinand Dudenhoeffer, director of Germany’s Center Automotive Research institute.”In the worst case this situation could go on for 12 to 18 months,” he told AFP.He added however since the disruptions cause by global lockdowns during the Covid-19 pandemic, “we’ve learned to pay more attention, both among general management and purchasing teams”.In any case, Dudenhoeffer said, “100 percent protection against supply disruptions is impossible — or in any case prohibitively expensive”. 

Stock markets broadly advanced Friday after US inflation data bolstered expectations that the Federal Reserve would again cut interest rates next week, with fresh optimism over US-China trade relations further boosting confidence.After solid gains on Asian markets, European indexes showed more modest gains while Wall Street advanced strongly. Investors had keenly awaited a September reading on US inflation, delayed by weeks because of the government shut down over a budget impasse, for guidance on further Fed rate cuts.The core consumer price index increase, which strips out food and petrol prices, came in below expectations at 3.0 percent, the Labor Department said.  Although above the Fed’s inflation target of two percent, the reading confirmed to traders that officials are more worried about a softening labour market — cementing expectations of another 25 basis point cut next week. “It is the jobs market that is becoming the more pressing issue for the Fed, with a clear chance that the ‘low hire, low fire’ economy becomes a ‘no hire, let’s fire’ story,” ING economists said in a research note. “We continue to look for a 25 basis point rate cut next week, with a further 25 basis point move in December and 50 basis points of cuts in early 2026,” they wrote.Investors also welcomed a White House confirmation that President Donald Trump would meet China’s Xi Jinping next week, stoking optimism for a cooling of trade tensions between the economic superpowers.”News on trade is supporting risk sentiment across the board into the weekend,” said Neil Wilson, UK investor strategist at Saxo Markets.”But given this is Trump and brinkmanship goes hand in glove with showmanship, talks with Xi could go either way.”And indeed the trade picture is not so optimistic everywhere we look. The Canadian dollar fell after Trump said he would halt all trade negotiations with the country,” Wilson noted.In Europe, encouraging data on business activity in the eurozone and Britain gave a slight lift but traders said many investors were booking profits heading into the weekend.The Paris CAC 40 index in particular was pulled down by selling of luxury conglomerate Kering, after the stock soared this week on better-than-expected earnings and the sale of its beauty division to L’Oreal.Oil futures rose further after Washington imposed sanctions on two Russian energy giants in a bid to force Moscow into talks to end the Ukraine war.Analysts said the sanctions would sharply reduce supplies to countries that had continued to buy Russian oil, forcing them to turn to other suppliers.- Key figures at around 1545 GMT -New York – Dow: UP 1.2 percent at 47,272.07 pointsNew York: S&P 500: UP 1.0 percent at 6,882.52New York: Nasdaq: UP 1.2 percent at 23,218.22London – FTSE 100: UP 0.7 percent at 9,645.62 (close)Paris – CAC 40: DOWN 0.2 percent at 8,225.63 (close)Frankfurt – DAX: UP 0.1 percent at 24,239.89 (close)Tokyo – Nikkei 225: UP 1.4 percent at 49,299.65 (close)Hong Kong – Hang Seng Index: UP 0.7 percent at 25,160.15 (close)Shanghai – Composite: UP 0.7 percent at 3,950.31 (close)Euro/dollar: UP at $1.1627 from $1.1615 on ThursdayPound/dollar: DOWN at $1.3296 from $1.3323Dollar/yen: UP at 152.85 from 152.60 yenEuro/pound: UP at 87.43 pence from 87.18 penceBrent North Sea Crude: UP 1.0 percent at $66.64 per barrelWest Texas Intermediate: UP 0.9 percent at $62.32 per barrelburs-bcp/js/phz

China will develop its high-tech sector on a massive scale in the next decade, top officials vowed Friday, a day after meetings on the country’s future policy priorities concluded in Beijing.The four days of closed-door discussions began on Monday and involved high-ranking officials outlining long-term strategies for the 15th Five-Year Plan, which starts next year. The country has poured support and investment into developing its science and technology sectors, part of ongoing efforts to present itself as a world leader in those areas ahead of Washington. On Friday, officials in Beijing promised that industries such as “quantum technology… hydrogen and nuclear fusion energy, (and) brain-computer interfaces… are poised to gain momentum”.”The new scale added in the next 10 years is expected to reshape China’s high-tech sector,” development official Zheng Shanjie told reporters at a news conference.People on the streets of Beijing told AFP on Friday they were optimistic about China’s progress.”During the first industrial revolution, China lagged behind,” 38-year-old Lemon Guo said.”But this time, with high-tech fields like artificial intelligence, it’s different,” he said, adding he hopes “China becomes a leader in this sector”.Others expressed hopes that the new plan would confront the considerable challenges faced by the world’s second largest economy. Domestically, China has been beset by sluggish spending, a protracted property sector crisis and a demographic crunch as its population starts to decline. Officials said Friday they would promote policies to help with the cost of child-bearing and elderly care. “(On) public policy, we obviously hope that it will be favourable for employment, or… boost the stock market,” 26-year-old Zhang Meng told AFP.Zhang said he cared about being able to buy a decent apartment “at a more affordable price”, paying fewer taxes, and getting a salary raise. In contrast with five years ago, the current economic situation was discussed during this week’s gathering, Nomura analysts said in a note. “We believe… Beijing will step up its supportive measures to stabilise growth” in the fourth quarter, they added.- Trade row -Externally, China is ensnared in a turbulent trade row with Washington and others. Beijing’s large trade surpluses have drawn sharp criticism from some trading partners, who say markets have been flooded with cheap goods, hurting local firms.China’s commerce minister said Friday that it had to balance the development of its imports and exports.”Efforts must be made to expand imports… to meet the needs of industrial transformation and upgrading as well as the needs of people’s better lives,” Wang Wentao told reporters at the same news conference.A worsening trade war weakens officials’ ability to pin strong growth this year on exports, which hit a record high in 2024.The world’s two biggest economies are seemingly seeking to avoid further escalating tensions, though. US President Donald Trump will meet his Chinese counterpart Xi Jinping in South Korea next Thursday, the White House said, and officials are meeting in Malaysia on Friday for trade talks. Leaders emphasised in a readout Thursday that China will share opportunities with countries around the world, a nuanced tweak from previous language, the National University of Singapore’s Bert Hofman told AFP.It “may be in response to the growing pushback against China’s external surpluses, which many developing countries fear would undermine their own development”, he added. – ‘Polish the brand’ -Wang also vowed China would “polish the brand of investing in China”. The government will “create new advantages in attracting foreign investment… (and) create a transparent, stable and predictable business environment”, he added.China will continue to “expand our circle of economic and trade friends”, Wang said.The new five-year plan is expected to place greater emphasis on deepening opening up, moving it higher up the list of priorities, UBS analysts said in a note.”This shift reflects the significantly evolving globalisation trend and international landscape amid ongoing US-China trade tensions,” UBS added. 

The EU accused Meta and TikTok on Friday of breaking the bloc’s digital content rules, putting the companies at risk of hefty fines.The European Union has a bolstered legal armoury that demands Big Tech prevent the spread of illegal content and ensure digital markets are open to competition.On Friday the European Commission said Meta’s Facebook and Instagram platforms and TikTok breached the Digital Services Act (DSA), the EU’s content moderation law attacked by US President Donald Trump’s administration.It is the first time the commission has accused Meta of breaching the DSA, which the US giant rejected.Although the announcement includes TikTok, owned by China’s ByteDance, it risks angering Trump, who has threatened to impose fresh tariffs on countries with regulations that seek to “harm” American technology.Despite his threats, the EU has said it will enforce its rules.Brussels said in its preliminary view that Meta and TikTok were failing to grant researchers “adequate access to public data”.EU regulators insist the rules are not just about transparency but ensuring researchers are able to carry out essential work, such as understanding how much children are exposed to dangerous content on popular platforms.TikTok insisted it was “committed to transparency”.”We are reviewing the European Commission’s findings, but requirements to ease data safeguards place the DSA and GDPR in direct tension,” a TikTok spokesperson said, referring to the bloc’s landmark data protection rules.”If it is not possible to fully comply with both, we urge regulators to provide clarity on how these obligations should be reconciled,” the spokesperson said.- Risk of fines -The EU also said Meta’s platforms Facebook and Instagram were not providing user-friendly mechanisms to flag illegal content, and not providing effective systems for their users to challenge content-moderation decisions.Regulators accused Facebook and Instagram of suspected deceptive practices — known as “dark patterns” when it comes to the “Notice and Action” mechanisms.”Such practices can be confusing and dissuading,” the commission said.The DSA stipulates that platforms must explain content-moderation decisions, which Facebook and Instagram have been failing to do, the EU said.Meta said: “We disagree with any suggestion that we have breached the DSA” and continued its talks with the EU.”In the European Union, we have introduced changes to our content reporting options, appeals process, and data access tools since the DSA came into force and are confident that these solutions match what is required under the law,” it said in a statement.- ‘Protecting free speech’ -Meta and TikTok will now be able to access the EU’s files and offer commitments that address Brussels’ concerns.If Brussels is not satisfied with the giants’ proposals, it can impose fines on the companies per breach per platform.EU digital spokesman Thomas Regnier pushed back on Friday against accusations, especially from the United States, that the DSA is a tool of censorship.”When accused of censorship, we prove that the DSA is doing the opposite. It is protecting free speech, allowing citizens in the EU to fight back against unilateral content moderation decisions taken by Big Tech,” he said.Both Meta and TikTok are under investigation in several EU probes, including one looking into concerns they are not doing enough to combat the addictive nature of their platforms for children.

Japan’s conservative new Prime Minister Sanae Takaichi vowed Friday to bring US ties to “new heights” with President Donald Trump, while taking a swipe at China and vowing a stricter stance on immigration in her first policy speech.Japan’s first woman premier, who so far is enjoying high poll ratings, also told a rowdy parliament that two percent of gross domestic product will be spent on defence this fiscal year, hitting the government’s target two years early.The comments came three days before Trump, who wants Tokyo and other allies to boost their military spending, is due to visit Japan on his way to crunch talks with Chinese President Xi Jinping in South Korea.Takaichi, whose idol is Margaret Thatcher, said she would build “a relationship of trust” during Trump’s visit, “elevating the Japan-US relationship to new heights”.Known before her appointment as a China hawk, Takaichi also said that the military activities of China, North Korea and Russia “have become a grave concern”.”The free, open and stable international order we have grown accustomed to is being profoundly shaken by historic shifts in the balance of power and intensifying geopolitical competition,” she said.China’s foreign ministry reacted by hitting out at Japan increasing its defence budget and relaxing restrictions on arms exports.”These moves inevitably raise serious doubts among (Japan’s) Asian neighbours and the international community about whether Japan is truly committed to an exclusively defensive posture and the path of peaceful development,” said spokesman Guo Jiakun.- Flatlining economy -But Takaichi also has a host of other complex issues to tackle in the coming months, including a flatlining economy and a declining population.On Friday she said the country needed foreign workers to address labour shortages, but alluded to growing anxiety over foreigners in Japan, a country with historically low levels of immigration.”Some illegal activities and breaches of rules by certain foreigners have created situations where members of the public feel uneasy and perceive unfairness,” Takaichi said.”While we draw a clear line from xenophobia, the government will respond resolutely to such acts,” she added, saying they will enforce compliance with existing rules and examine sensitive issues such as land acquisition.The populist Sanseito party, which calls immigration a “silent invasion”, has been making gains in recent elections.Takaichi has also appointed Kimi Onoda as minister — as well as other areas — for a “society of well-ordered and harmonious coexistence with foreign nationals”. The job existed before but without a minister in charge. The appointment has led to widespread false information online that Onoda was named minister for “mass deportations”. – Rising inflation -Ahead of her parliament address, Takaichi had promised to ease pressure on households, saying the cost-of-living squeeze was a priority and telling her cabinet to draw up measures to address it.However, there was little further detail Friday on the promised economic package.Takaichi’s predecessor Shigeru Ishiba survived barely a year in office, with voters hammering the ruling party in elections partly because of rising prices.Official data Friday showed inflation accelerated last month, with consumer prices jumping 2.9 percent in September compared with 2.7 percent in August. Takaichi has long advocated for more government spending and easing monetary policy to spur growth, and her appointment has boosted stocks to record highs.Since taking office, however, she has said monetary policy decisions would be left to the Bank of Japan (BoJ).The BoJ has been “normalising” its super-easy monetary policy and inflation has long been above its target, making further interest rate hikes more likely.But the BoJ is “concerned about the impact of US tariffs on the Japanese economy and the potential for negative spillovers to corporate profits and wage growth,” said Abhijit Surya at Capital Economics.

Beijing and Washington “can totally find ways to resolve each other’s concerns”, China’s commerce minister said Friday, as officials from both sides were set to meet in Malaysia for trade talks.The world’s two biggest economies have spent a large part of this year locked in a tit-for-tat trade row, though they appear to be seeking to avoid further escalation.Chinese vice premier He Lifeng is leading a delegation to meet US counterparts in Malaysia from October 24 to 27, Beijing said Thursday, the latest of several such rounds of negotiations.Commerce minister Wang Wentao said Friday that the previous meetings had shown “China and the United States can totally find ways to resolve each other’s concerns”. The two can “find correct ways to coexist, and promote the healthy, stable and sustainable development of China-US economic ties through mutual respect and equal consultation”, he told a news conference marking the end of a key political meeting in Beijing.The Malaysia talks come after a “candid, in-depth and constructive” weekend call between He and US Treasury Secretary Scott Bessent, who will attend the meeting. Hopes that ties might stabilise were given a further boost when the White House announced US President Donald Trump will meet Chinese counterpart Xi Jinping in South Korea next Thursday, having previously threatened to cancel. The preceding talks in Malaysia will cover “important issues in the economic and trade relationship between China and the United States”, Beijing said Thursday. Trade tensions between the two have been on a rollercoaster ride since Trump’s return to the White House, with both sides slapping escalating tariffs on each other.Tit-for-tat duties reached triple digits on both sides at one point this year, snarling supply chains. A key meeting in May between their negotiators in Geneva resulted in a 90-day suspension of the highest tariffs. Subsequent talks in London, Stockholm and Madrid worked towards establishing a more permanent deal, among other agreements, but the truce remains shaky. The pause on steeper duties is in place until November 10 after being extended again in August. However, disagreements have flared again, with Beijing this month announcing sweeping controls on the critical rare earths industry — prompting Trump to threaten 100 percent tariffs on imports from China in retaliation.The countries also began applying arrival fees against each other’s ships, sparked by a US “Section 301” investigation that found China’s dominance in the maritime sector was unreasonable.But Trump said on Wednesday he hopes to reach a “deal on everything” with Xi.