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October 23, 2025
 

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GLOBAL ECONOMY

U.S. Treasury Secretary Scott Bessent takes a picture during the United Nations General Assembly on Sept. 23 in New York.
COMMENTARY / World
Oct 22, 2025
Supply-chain economics beat tariff politics
Twenty years ago, China learned the hard way that once supply chains reorganize, they never return to their previous form.
Ships and containers at a port in Qingdao, Shandong province, China, on Monday.
BUSINESS / Economy
Oct 22, 2025
China’s $1 billion of daily U.S. exports show Xi bargaining power
Despite double-digit drops in the value of overall trade during the past half a year, some products have recently seen an increase from 2024.
The U.S.-China trade war has escalated as both sides use economic leverage, with China asserting dominance over rare earths to retaliate against U.S. tariffs, while the U.S. seeks a collective global response and long-term strategy to reduce dependency on China's supply chains.
COMMENTARY / Japan
Oct 21, 2025
This is what a real trade war looks like
China has leverage over trading partners every bit as powerful as what Trump seeks to wield.
U.S. President Donald Trump points to a reporter during a meeting with Australian Prime Minister Anthony Albanese in the Cabinet Room of the White House in Washington on Monday.
ASIA PACIFIC / Politics
Oct 21, 2025
Trump expects Taiwan on agenda for Xi meeting, predicts trade deal
The U.S. leader underlined a number of divisive topics the two sides plan to tackle at a meeting on the sidelines of a regional summit in South Korea next week.
An Amazon Web Services Data Center known in Ashburn, Virginia, on Monday
BUSINESS / Tech
Oct 21, 2025
Amazon's AWS nears recovery after outage disrupts apps and services worldwide
It was the largest internet disruption since last year's CrowdStrike malfunction hobbled technology systems in hospitals, banks and airports.
The Royal Swedish Academy of Sciences announces the winners of the 2025 Nobel economics prize at a news conference in Stockholm on Oct. 13. The prize was awarded to Joel Mokyr, Philippe Aghion and Peter Howitt for their work on innovation-driven economic growth.
COMMENTARY / World
Oct 20, 2025
This year’s economics Nobel holds a warning for the U.S
Between 1875 and 1926, 44% of the world’s breakthrough inventions took place in the U.S., with Britain, France and Germany hovering between 14% and 22%.
AI’s potential to resolve advanced economies’ debt and growth issues is uncertain as it faces significant obstacles and may exacerbate political unrest, inequality and global conflicts.
COMMENTARY / World
Oct 20, 2025
Will AI pay off the West’s debts?
To be sure, a wildly upbeat assessment of AI’s potential impact on economic growth has propelled asset markets higher over the last few years.
A port in Zhoushan, Zhejiang province, China
BUSINESS / Economy
Oct 18, 2025
Trump says 100% tariffs on China unsustainable and he still plans to meet Xi
The new trade actions were Trump's reaction to China dramatically expanding its export controls on rare earth elements.
U.S. President Donald Trump holds up a signed executive order on tariffs at the White House on April 2. Trump's protectionism is rippling through labor markets and dampening consumer demand around the world.
COMMENTARY / World
Oct 14, 2025
Is the global economy as resilient as it seems?
U.S. economic expansion is losing steam as the Trump's erratic economic policies, harsh immigration tactics and cuts in social expenditures take a toll on growth and employment.
The aircraft carrier USS Theodore Roosevelt moors at Changi Naval Base in Singapore in April 2018.
COMMENTARY / World
Oct 14, 2025
Singapore thrived in a U.S.-led world. Now what?
Singapore is a mind-blowing success story that reminds us how distinctive America’s post-World War II global project was.
The Bank of Japan in Tokyo. Turmoil in developed nations such as France and Japan underscores how politics is eclipsing central bank policy as a key market driver.
BUSINESS / Markets
Oct 13, 2025
The politics premium is punishing bonds from Paris to Tokyo
Investors are demanding fiscal consolidation, while anything resembling austerity can prove politically contentious and toxic at the ballot box.
U.S. President Donald Trump gives a thumbs up while boarding Air Force One, as he departs for Israel, at Joint Base Andrews in Maryland on Sunday.
BUSINESS / Economy
Oct 13, 2025
Trump and Vance open door to China deal as trade spat drags on
Remarks by the two suggest that the U.S. wants to keep up the pressure on China to reverse its most recent trade moves, while trying to reassure spooked markets.
U.S. gross domestic product grew in the second quarter at the fastest pace in nearly two years.
BUSINESS / Economy
Oct 13, 2025
World economy faces triple risk of tariffs, AI bubble and soaring debt
Such concerns will dominate the annual meetings of the IMF and World Bank in Washington this week.
U.S. President Donald Trump addresses hundreds of American generals and admirals summoned to the Marine Corps base in Quantico, Virginia, on Sept. 30.
BUSINESS / Economy / ANALYSIS
Oct 12, 2025
Trump’s dealmaking diplomacy grows fragile as China fires back
The sudden, and unexpected, back-and-forth between the world’s two largest economies came just weeks ahead of a consequential meeting between the U.S. and Chinese leaders.
A container ship sails at the port in Qingdao, China, on Thursday.
BUSINESS / Economy
Oct 12, 2025
China blames U.S. for raising trade tensions and defends rare earth curbs
Beijing's decision not to immediately respond to Trump's opening salvo could leave the door open for both countries to negotiate a deescalation.
In a ranking of the best-performing equity indexes this year, the U.S. doesn’t crack the Top 50. You need to go all the way to No. 66 before the world’s most valuable equity index shows up — one of the worst relative performances since the global financial crisis for the U.S. benchmark.
BUSINESS / Markets / FOCUS
Oct 12, 2025
A great year for U.S. stocks? Not compared with rest of the world.
The underperformance, market participants say, owes just as much to a broader shift in the mindset among foreign investors
A worker waters the site of a rare earth metals mine in Nancheng county, in China's Jiangxi province, in January 2011.
BUSINESS / Economy / FOCUS
Oct 11, 2025
The world’s chip supply chain is bracing for fallout from China’s rare-earth curbs
The restrictions represent the first major attempt by Beijing to exercise long-arm jurisdiction over foreign companies to target the semiconductor industry.
U.S. President Donald Trump gestures as he walks to Marine One on the South Lawn of the White House in Washington on Friday.
BUSINESS / Economy
Oct 11, 2025
Trump ratchets up U.S.-China trade war with new levies and export controls
The actions signaled the biggest rupture in relations in four months between Beijing and Washington — the world's biggest factory and its biggest consumer.
Employees assemble a Gazon Next truck at Gorkovsky Automobile Plant in Nizhny Novgorod, Russia.
BUSINESS / Economy
Oct 10, 2025
Russia's industrial titans furlough workers as its war economy stalls
The push to reduce wage bills shows the toll the conflict in Ukraine and the Western sanctions are taking on corporate Russia and on the workers of its heavy industry plants.
Against the yen, the dollar was last up 0.53% at ¥152.7. It earlier reached ¥152.99, the highest since Feb. 14, and has risen from ¥147.44 on Friday.
BUSINESS / Economy
Oct 9, 2025
Yen weakest since mid-February on fiscal fears
The dollar has likely benefited from a lack of U.S. government economic data as the federal government remains shut.
Rare female yakuza walks path to redemption in Japan
Retired yakuza Mako Nishimura sorts fallen leaves during a clean-up activity at the Gifu Gokoku shrine in Gifu Prefecture on Sept. 28.
Takaichi makes history as Japan’s first female prime minister
Liberal Democratic Party President Sanae Takaichi reacts to applauding lawmakers after being elected prime minister at the Lower House on Tuesday.
Japanese man sentenced to eight years after rare public accusation of rape
Riho Fukuyama (center) and her husband Yoshiki Fukuyama (left) speak to the media with their lawyer (right) outside the Toyama District Court in Toyama on Tuesday.
Woman arrested for pepper spray assault on Yamanote Line
Emergency vehicles arrive at the JR Otsuka Station in Tokyo Monday following a report that a woman had allegedly injured passengers with pepper spray inside a train on the Yamanote Line.
North Korea fires off ballistic missiles one day after Takaichi named PM
People watch a TV news report about North Korean short-range ballistic missile launches, at the main railway station in Seoul on Wednesday.
K-pop idol Chanyeol does J-pop his own way on ‘Hibi’
South Korean singer Chanyeol made his Japanese-language solo debut with the EP “Hibi,” which features six tracks inspired by his love of Japanese music.
In pictures: The day Japan’s glass ceiling finally cracked
Takaichi, surrounded by LDP influencers
London exhibition perhaps sumo's most successful trip abroad
With the recent sumo jaunt to London being essentially a goodwill exercise, <i>rikishi</i> were far more outgoing and relaxed than normal.
Nakatsu keeps its cool as gentrification looms
Shunsuke Takahashi, owner of the cafe Hood by Vargas, says the Osaka neighborhood of Nakatsu feels brighter and calmer with the influx of new businesses.
Japan's first female PM promised more women in her Cabinet. She picked two.
Prime Minister Sanae Takaichi poses with members of the newly formed Cabinet on Tuesday night.

Podcast

One of the many entrances to the Kabukicho neighborhood in Tokyo’s Shinjuku Ward.
Kabukicho: Tokyo’s ‘stadium of desire’

Longform

The byzantine process for converting a foreign driver’s license into a Japanese one entails mountains of paperwork and significant stamina — unless you're a lucky license holder from a country or region where these requirements are waived.
Driving in Japan isn’t hard. Getting the license is.
By Thu-Huong Ha and Mike Fu

SUSTAINABLE JAPAN

Maruhachi never sleeps in quest for better futons
Maruhachi never sleeps in quest for better futons

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