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Sejong professor warns of FX risks, calls for bigger reserves, swaps

Sejong University professor Kim Dae-jong speaks during an Asia Today interview in Seoul on Tuesday. Photo by Asia Today

Jan. 11 (Asia Today) — Asia Today interviewed Sejong University business administration professor Kim Dae-jong on Tuesday about the 2026 economic outlook and strategies for coping with rising foreign exchange risks and fiscal pressures. Below are highlights in a question-and-answer format.

Q: Do you believe there is a real possibility of another foreign exchange crisis like the one in 1997?

A: “South Korea’s current foreign exchange defense capabilities are extremely vulnerable. The country’s foreign exchange reserves relative to GDP stand at around 22%. This is woefully inadequate compared to Taiwan, which holds reserves equivalent to 80% of its GDP. Meanwhile, the Korean won’s share of international payments is a mere 0.1%, making it a currency that no one will accept during a crisis. With an 84% probability of an upward trend in the exchange rate, the won is projected to surge to between 1,550 and 1,600 won per dollar by 2026. Without government preparedness, the likelihood of a foreign exchange crisis approaches 30%. We must significantly increase foreign exchange reserves to Taiwan’s level and establish safety nets through measures like Korea-Japan currency swaps. The interest losses from holding reserves are a cost we must bear given the potential losses from a crisis.”

Q: The government claims its finances are robust. What do the actual indicators show from your perspective?

A: “The government reassures us with a debt ratio of 52%, but this is merely an illusion. Broad national debt, including public enterprise debt and unfunded pension liabilities, has already surpassed 130% of GDP. The 2026 budget proposal shows an 8.1% increase to 728 trillion won ($560 billion), more than four times the inflation rate, pursuing loose expansionary fiscal policy. The IMF classifies countries with non-reserve currencies as risky when their debt ratio exceeds 60%. South Korea is expected to cross this threshold by 2029. Securing fiscal soundness is crucial for national survival.”

Q: What are the fundamental causes and solutions for the youth employment rate being only 45%?

A: “Companies are fleeing overseas to avoid high taxes and regulations. Korea’s corporate tax rate of 26% is higher than the global average of 21% and higher than places like Singapore and Ireland. The United States encourages innovation through negative regulation, but Korea is stifled by positive regulation. Allowing Uber alone could create more than 300,000 jobs, yet we are cutting off the buds of new industries. We need concrete action to create a business-friendly environment. Instead, the government raised the corporate tax rate by 1 percentage point.”

Q: In this situation, how can individuals protect their assets and become wealthy?

A: “I recommend a top-ranked stock strategy: invest 90% of your assets in the top U.S. market cap companies and 10% in the top Korean company. As dollar-denominated assets, they protect wealth when the exchange rate rises. Apartment subscription accounts should never be canceled and should be maintained. Statistically, the net asset threshold for the top 1% of wealthy Koreans is 3 billion won. By building expertise at work and consistently investing 25% of your salary into top-tier stocks, you can join that group.”

Interviewer: Kim Lee-seok, Editorial Advisor

Compiled by: Lee Jung-ho, Staff Reporter

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

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N. Korea accuses S. Korea of drone incursions, warns Seoul ‘pay price’

People watch a TV news report at Seoul Station in Seoul on Sunday about North Korea’s claim that a South Korean drone violated its airspace. Jan. 11, 2026. Photo by Yonhap News Agency

North Korea claimed Saturday that South Korea infringed on its sovereignty with drone incursions in September last year and earlier this week, saying that Seoul should be ready to “pay a high price” for what it called a provocation.

But South Korea’s defense ministry rejected Pyongyang’s claim, saying the South’s military did not operate drones on the dates asserted by the North.

A spokesperson of the General Staff of the Korean People’s Army issued a statement denouncing South Korea as “the most hostile” enemy, insisting that Seoul has continued to stage provocative acts, contradicting its overtures for dialogue with Pyongyang, according to the Korean Central News Agency (KCNA).

“The Republic of Korea (ROK) should be ready to pay a high price for having committed another provocation of infringing on the sovereignty of the DPRK with a drone,” the spokesperson said, referring to South Korea by its official name. DPRK is short for the North’s official name, the Democratic People’s Republic of Korea.

On Jan. 4, North Korea’s military captured and tracked an air target moving northward from the sky over South Korea’s Ganghwa County, Incheon, and struck the drone with special electronic warfare assets, forcing it to fall in Muksan-ri near the North’s border city of Kaesong, the KCNA said.

It also said that on Sept. 27, a drone, which took off from the South’s border city of Paju, fell into Jangphung County, Kaesong, after being struck down by the North’s electronic means. The drone was returning after infiltrating the sky above Phyongsan County, North Hwanghae Province, it said.

The spokesperson said that the drone, which crashed this week, was equipped with surveillance devices, while citing the North’s analysis that the drone was set to record the North’s major objects while flying a distance of 156 kilometers for more than three hours.

North Korea released photos of debris from the drones, recording devices and images presumed to have been filmed by the unmanned aerial vehicles. It described South Korea as a “perfect copy of Kiev’s lunatics,” likening the South to Ukraine fighting against Russia.

Pyongyang accused the South Korean military of being behind the drone infiltrations, saying those drones freely passed over areas where the South Korean Army’s radar systems for detecting low-altitude targets and anti-drone equipment are located.

“The ROK is the enemy most hostile towards us that can never be changed in nature, and the object to be certainly collapsed by us if it attacks,” the spokesperson said. “The ROK military warmongers will be surely forced to pay a dear price for their unpardonable hysteria.”

In response to an inquiry by Yonhap News Agency, Defense Minister Ahn Gyu-back rejected North Korea’s claim as “absolutely not true,” noting the drones shown in the photos released by the North are not models owned by the South Korean military.

The defense ministry said President Lee Jae Myung ordered a “thorough” investigation into the matter and relevant government agencies are verifying it.

Experts assessed the drones disclosed by the North do not appear to be aerial vehicles operated by the military, noting they are likely made up of cheap parts not fit for military purposes.

In October 2024, North Korea said South Korean drones carrying anti-North Korea propaganda leaflets were detected over Pyongyang three times that month, threatening to respond if such flights occur again.

The South Korean military is suspected of having sent drones over Pyongyang during former President Yoon Suk Yeol’s administration in an apparent bid to provoke North Korea and use it as a pretext for his martial law bid in December 2024.

North Korea’s claims of drone infiltrations came as North Korean leader Kim Jong-un has declared inter-Korean ties as those between “two states hostile to each other.”

Since taking office in June, the administration of President Lee has been seeking to mend ties with North Korea and resume dialogue with it.

Expert said North Korea is apparently cementing its hard-line stance toward Seoul ahead of an upcoming key party congress set for January or February. The North is expected to formulate a five-year policy line covering diplomacy, the economy, the military and other areas.

“North Korea is expected to reflect the ‘two hostile states’ stance in the ruling party’s rules and regulations at the party congress and seek to revise the constitution to codify it at a key parliamentary meeting in the first half,” Hong Min, a senior researcher at the Korea Institute for National Unification, said.

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Pope Leo XIV warns against ‘zeal for war’ amid global tensions

Jan. 9 (UPI) — Pope Leo XIV warned that “war is back in vogue” in his State of the World address Friday to ambassadors who are accredited to the Holy See.

The annual meeting is one of the most significant events in the Vatican’s yearly calendar and helps to define its diplomatic positions for the year, according to Vatican News.

The pope took the moment to reference the United States’ recent capture of Venezuelan President Nicolas Maduro and his wife, Cilia Flores.

“The principle established after the Second World War, which prohibited nations from using force to violate the borders of others, has been completely undermined,” he said.

“I renew my appeal to respect the will of the Venezuelan people, and to safeguard the human and civil rights of all, ensuring the stability and concord,” the pope added.

He called for an “immediate cease-fire” in Ukraine and expressed his support for a two-state solution to bring peace to the Middle East, while giving Palestinians a “future of lasting peace and justice in their own land.”

Pope Leo lamented what he called a decline in multilateralism and global cooperation, leading to peace instead of armed conflict.

“They do not, therefore, wish to have peace, but only the peace that they desire,” he said.

He said such a global mentality led to two world wars during the 20th century, but eventually produced the United Nations, which the pope said is tasked with “safeguarding peace, defending fundamental human rights and promoting sustainable development.”

Among other topics mentioned were a rising risk of nuclear war and the emergence of artificial intelligence.

He urged a renewed effort to control the proliferation of nuclear arms as the New START Treaty is scheduled to expire in February amid efforts by North Korea and Iran to join the ranks of nuclear powers and Russia’s repeated threats to use nuclear arms against Ukraine and others if compelled to do so.

Meanwhile, the emergence of AI “requires appropriate and ethical management” to ensure it is used to better the world and its societies and does not cause harm, Pope Leo said.

He also addressed matters involving migration, human trafficking and crime and cautioned against “undermining the dignity of migrants and refugees.”

Then he addressed the need for greater communication to help people of differing backgrounds to more effectively communicate and establish meaningful connections, rather than remaining divided by language and using it to cause harm instead of doing good in the world.

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Lee warns ‘K-shaped growth’ leaves youth facing jobs crisis

South Korean President Lee Jae-myung speaks during the Economic Growth Strategy National Briefing at the presidential office in Seoul on Thursday. Photo by Yonhap/ EPA

Jan. 9 (Asia Today) — South Korean President Lee Jae-myung said Thursday that “extraordinary measures” are needed to address what he called a national crisis for young people pushed to the brink of employment amid “K-shaped growth,” a term used to describe an uneven recovery that concentrates gains on one side of the economy.

Lee made the remarks at the “2026 Economic Growth Strategy National Briefing” at the presidential office, calling for steps that mobilize the country’s full capabilities to support young people.

Lee said South Korea is facing “K-shaped growth,” in which the benefits of recovery are not broadly shared, and said the structure must be improved because it places a heavier burden on younger generations.

He said the impact of polarized growth is being concentrated on young people, threatening not only youth employment but also the country’s long-term growth potential.

“If national growth and corporate profits do not translate into job opportunities for young people, it is difficult to call that society healthy,” Lee said.

Lee said more than 400,000 young people have been pushed out of the labor market and are still being asked by employers to have work experience, while no one takes responsibility for providing a starting point. He urged officials to develop effective measures that break from existing policy frameworks.

Lee said the government is committed to ensuring people share in the fruits of growth and described this year as the first in which his administration will fully take responsibility for economic management.

He pointed to policies aimed at “normalizing” the economy, including efforts to foster the semiconductor industry, as a path to strengthening growth momentum.

However, Lee cautioned that even if external indicators improve compared with last year, many people may not feel the change. He said growth polarization should be treated as a structural challenge rather than a temporary cycle and called for efforts to ensure the benefits of growth are broadly shared.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

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Trump warns Republicans: Lose the House and ‘I’ll get impeached’

Jan. 6 (UPI) — President Donald Trump warned House Republicans on Tuesday that if they fail to hold on to the chamber in November’s midterm elections, the Democrats will impeach him.

“You got to win the midterms because if we don’t win the midterms, it’s just going to be, I mean — they’ll find a reason to impeach me. I’ll get impeached,” Trump told a few dozen GOP lawmakers in attendance at the Kennedy Center in Washington, D.C., for a House Republican policy retreat.

Trump has repeatedly expressed concern over the future of the GOP’s slim majority of the House ahead of next fall’s midterm elections, as the president’s party has historically suffered losses in the midterms and his first year back in office has been marked by divisive policies and rhetoric.

This summer, GOP-controlled Texas, under pressure from Trump, redrew its congressional district maps to secure more Republican seats in November — setting off gerrymander redistricting efforts by both parties in states they hold majorities.

Democrats and civil rights and voting advocacy groups have accused Trump of trying to undermine the election to hold on to the House, which the GOP currently maintains a 218-213 majority.

In his sprawling 90-minute speech, Trump attempted to project an image of confidence ahead of the election, stating the GOP House is among the most successful in history, while simultaneously expressing befuddlement that the electorate may vote to return the chamber to the Democrats.

“I wish you could explain to me what the hell’s going on with the mind of the public because we have the right policy. They don’t. They have horrible policy. They do stick together. They’re violent. They’re vicious, you know,” Trump said, referring to the Democrats. “They’re vicious people and they stick together like glue.”

Trump was twice impeached during his first term in office: In 2019, on accusations of threatening to withhold Congressionally approved military aid for Ukraine unless President Volodymyr Zelensky investigated the son of his political rival, Joe Biden; and in the wake of the Jan. 6, 2021, insurrection attempt of the Capitol.

He was acquitted both times.

Trump critics and Democrats have suggested since early in his second term that impeachment could be pursued over a range of presidential actions they say are unconstitutional, with some actions being questioned by legal experts and advocacy groups as violations of international law and potential war crimes.

Trump has attracted the most criticism over his immigration polices, which have seen migrants sent to a Salvadoran prison, as well as his anti-drug military actions that have seen more than 100 people killed in international waters. The United Nations high commissioner for human rights, Volker Turk, has said there is “no justification in international law” for the military strikes.

On Saturday, the U.S. military seized Venezuelan President Nicolas Maduro in what the Trump administration has called a law enforcement action, though it has raised questions domestically and internationally over the legality of the operation.

U.N. Secretary-General Antonio Guterres on Monday told the Security Council that he is “deeply concerned that the rules of international law have not been respected with regard to the 3 January military action.”

Trump has followed the operation by threatening to do the same to the leaders of Colombia and Cuba.

“The leaders who pay homage to him and show themselves to be servile to U.S. President Trump in an attempt to win his favor only humiliate themselves,” Chilean President Gabriel Boric Font said in a statement earlier Tuesday.

“Trump (and his administration) not only permanently violates International Law, but human dignity itself.”

The abduction of Maduro has amplified Democratic concerns and talk of impeachment.

“Today, many Democrats have understandably questioned whether impeachment is possible again under the current reality. I am reconsidering that view,” Rep. Maxine Waters, D-Calif., ranking member of the House Financial Services Committee, said in a statement on Saturday following the military operation.

“Even if Republicans refuse to act, Democrats cannot remain silent or passive in the face of actions this extreme from this administration.”

Waters continued: “What we are witnessing is an unprecedented escalation of an unlawful invasion, the detention of foreign leaders and a president openly asserting power far beyond what the Constitution allows. Democrats must take a firm stand against this abuse of authority. We cannot normalize it. We cannot excuse it.”

President Donald Trump holds a signed executive order reclassifying marijuana from a schedule I to a schedule III controlled substance in the Oval Office of the White House on Thursday. Photo by Aaron Schwartz/UPI | License Photo

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Trump warns US will intervene if Iran kills protesters

Reuters A still image from a social media video showing people walking in Tehran, Iran. Photo: 30 December 2025Reuters

US President Donald Trump has warned Iran’s authorities against killing peaceful protesters, saying Washington “will come to their rescue”.

In a brief post on social media, he wrote: “We are locked and loaded and ready to go,” but gave no further details.

A senior adviser to Iran’s Supreme Leader Ayatollah Ali Khamenei responded by saying Trump should “be careful” if he intervened, warning of potential chaos across the Middle East.

At least eight people are reported to have been killed in Iran after almost a week of mass protests sparked by worsening economic conditions.

In Friday’s post on Truth Social, Trump wrote: “If Iran shots [sic] and violently kills peaceful protesters, which is their custom, the United States of America will come to their rescue.”

In his post, the US president did not specify what action Washington could take against the Iranian authorities.

In June, the US carried out strikes against Iran’s nuclear sites on Trump’s orders.

American officials later argued that the strikes had significantly set back the prospect of Tehran building a nuclear weapon – a claim disputed by Iran.

In retaliation, Iran launched a missile attack on a major US military base in Qatar.

Shortly after Trump’s latest social media post, Khamenei adviser Ali Larijani issued a warning of his own.

“Trump should know that US interference in this internal matter would mean destabilising the entire region and destroying America’s interests,” he wrote.

But for some of the protesters, intervention from the US would be welcome.

“They [security forces] are afraid and they shake to the bones when Mr Trump says something or Mr (Israeli Prime Minister Benjamin) Netanyahu says something,” a young woman protesting in Tehran told the BBC’s Newshour programme.

Preferring to stay anonymous for her own safety, she said protesters had been asking for US support for years, because the security forces “believe that if Mr Trump says something, he will do [it]”, and they “know if anything happens, they would have to take the consequences”.

Footage filed by Reuters shows protests in Iran’s Lorestan province outside a police station

On Thursday, six people in Iran were reported to have been killed on a fifth day of protests.

Two people died in clashes between protesters and security forces in the south-western city of Lordegan, according to the semi-official Fars news agency and the human rights group Hengaw, which said they were protesters, naming them as Ahmad Jalil and Sajjad Valamanesh.

Three people were killed in Azna and another in Kouhdasht, all in the west of the country, Fars reports. It did not specify whether they were demonstrators or members of the security forces.

One death was reported in Fuladshahr, central Iran, and another casualty in Marvdasht, in the south.

BBC has not been able to independently verify the deaths.

Footage posted on social media showed cars set on fire during running battles between protesters and security forces.

BBC Persian has verified videos showing Thursday’s protests in Lordegan, Tehran and Marvdasht.

Iranian officials earlier said a young member of the country’s securities forces had been killed on Wednesday in the western city of Kouhdasht. But protesters said the man was, instead, from their ranks and had been shot dead by the security forces.

On Friday, clashes were reported during the man’s burial ceremony attended by thousand of mourners. Uniformed members of the security forces had tried to carry his coffin – but the crowds wrested it from them and chased them away.

A map of Iran, showing Tehran in the north, and Kouhdasht, Azna Lordegan and Marvdasht running down the western border, from north to south.

The protests began on Sunday in Tehran among shopkeepers angered by another sharp fall in the value of the Iranian currency, the rial, against the US dollar on the open market.

By Tuesday, university students were involved and protests had spread to several cities, with people chanting against the country’s clerical rulers.

Many protesters have since been calling for the end of Khamenei’s rule. Some have said they want a return to the monarchy.

“We don’t have any kind of liberty here,” the protester who spoke to the BBC said. “We fight every day – we face the most brutal things every day. We want to end it [the regime], even with the price of our lives, we don’t have anything.”

The protests have been the most widespread since an uprising in 2022 sparked by the death in custody of Mahsa Amini, a young woman accused by morality police of not wearing her veil properly, but they have not been on the same scale.

President Masoud Pezeshkian has said he will listen to the “legitimate demands” of the protesters.

But the country’s Prosecutor-General, Mohammad Movahedi-Azad, warned that any attempt to create instability would be met with a “decisive response”.

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Eurostar warns of ‘further issues’ as passengers still face delays after travel chaos

Eurostar services resumed after a power outage in the Channel Tunnel caused all trains heading to mainland Europe to be cancelled

Eurostar travellers have been cautioned that disruption may continue, despite services restarting following a power failure in the Channel Tunnel. Thousands of passengers endured lengthy delays after the rail operator scrapped all London to Europe journeys on Tuesday when an overhead power supply fault and a broken-down LeShuttle train blocked all routes.

Limited services recommenced on the single operational line on Tuesday evening, with Eurostar reporting “further issues with rail infrastructure overnight”. A statement on the Eurostar website read: “We plan to run all of our services today, however due to knock-on impacts there may still be some delays and possible last-minute cancellations.”

The first Wednesday departure from St Pancras to Paris’ Gare du Nord station, timetabled for 6.01am, was axed, though all remaining services appeared as scheduled on the firm’s website. A statement released by Eurostar on Tuesday evening, encouraging passengers to rebook for a different day where possible, read: “Although outside of our control, we apologise for the disruption today and will continue to keep customers updated with the latest information and support them with rescheduling their bookings.”

LeShuttle services were similarly disrupted by the electrical fault. Having warned of six-hour holdups at the Folkestone terminal on Tuesday, the company reported these had reduced to just 30 minutes by Wednesday morning. However, six-hour queues persisted in Calais, with passengers urged to check in at their scheduled times.

The Channel Tunnel carries both Eurostar services and LeShuttle vehicle-carrying trains linking Britain and France. Getlink, which runs the Channel Tunnel, confirmed that “an incident related to the power supply to trains occurred last night in part of the Channel Tunnel, affecting train and shuttle traffic”.

On Tuesday, Eurostar personnel at St Pancras station in central London were spotted distributing water bottles to those waiting behind cordons who were caught up in the disruption. Vehicles attempting to cross the Eurotunnel created tailbacks on routes approaching the Folkestone terminal.

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LeShuttle traveller Tim Brown revealed he had been stranded in his vehicle on the train at the Calais terminal for over three hours with “no access to food or water”.

Mr Brown, who was attempting to return to Britain after celebrating Christmas in Germany, was journeying with his dogs Rilo and Vinnie who he said are “hating life” trapped on the train.

“The fact that nobody has come around offering everybody a bottle of water is what has shocked me the most,” he said. “I know things happen, but surely that would be an easy way to help.”

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Iran warns of ‘severe’ response in wake of Trump’s new strikes threat | Israel-Iran conflict News

US president says he would back attacks if Tehran rebuilds nuclear or missile programmes.

Iran has promised to respond harshly to any aggression after United States President Donald Trump threatened further military action, should Tehran attempt to rebuild its nuclear programme or missile capabilities.

President Masoud Pezeshkian issued the warning on X on Tuesday, a day after Trump met Prime Minister Benjamin Netanyahu at his Florida estate, where he firmly leaned into the Israeli regional narrative yet again.

The US had not previously said it would target Iran’s missile capabilities, which has long been an Israeli aspiration, focusing instead on Tehran’s nuclear programme. Iran has repeatedly said its nuclear activities are for civilian purposes only, and neither US intelligence nor the UN’s nuclear watchdog found any evidence of atomic weapons production before the June attacks by the US and Israel.

Iran has ruled out negotiating over its missile programme.

The leaders’ comments raise the spectre of renewed conflict just months after a devastating 12-day war in June that killed more than 1,100 Iranians and left 28 in Israel dead.

Pezeshkian said the response of Iran to any aggression would be “severe and regret-inducing”. His defiant message came hours after Trump told reporters at his Mar-a-Lago resort that Washington could carry out another major assault on Iran.

“Now I hear that Iran is trying to build up again, and if they are, we’re going to have to knock them down,” Trump said, standing alongside Netanyahu. “We’ll knock the hell out of them.”

The US president said he would support strikes on Iran’s nuclear programme “immediately” and on its missile facilities if Tehran continues developing long-range weapons.

Israeli officials have expressed concern in recent weeks that Iran is quietly rebuilding its ballistic missile stockpile, which was significantly depleted during the June conflict.

“If the Americans do not reach an agreement with the Iranians that halts their ballistic missile program, it may be necessary to confront Tehran,” an Israeli official told Ynet this week.

Pezeshkian recently described the standoff as a “full-scale war” with the US, Israel and Europe that is “more complicated and more difficult” than Iran’s bloody conflict with Iraq in the 1980s, which left more than one million dead.

The June war saw Israel launch nearly 360 strikes across 27 Iranian provinces over 12 days, according to conflict monitoring group ACLED, targeting military installations, nuclear facilities and government buildings.

The assault destroyed an estimated 1,000 Iranian ballistic missiles and killed more than 30 senior military commanders and at least 11 nuclear scientists.

Iran fired more than 500 missiles at Israel during the conflict, with approximately 36 landing in populated areas. While Trump claimed Iranian nuclear capabilities were “completely obliterated” by the strikes, experts disputed that, saying Tehran may have hidden stockpiles of enriched uranium and could resume production within months.

Despite the losses, Iranian officials insist the country is now better prepared for confrontation. In a recent interview, Pezeshkian said Iran’s military forces are “stronger in terms of equipment and manpower” than before the ceasefire.

The war failed to trigger the internal unrest it is suspected that Netanyahu had hoped for. No significant protests materialised, and daily life in Tehran largely continued despite the bombardment.

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China warns U.S. it cannot stop Taiwan reunification

Ministry of Foreign Affairs’ spokesperson Lin Jian speaks during a press conference in Beijing, China, 05 February 2025. File ANDRES MARTINEZ CASARES/EPA

Dec. 29 (Asia Today) — China’s foreign ministry on Monday demanded the United States halt arms sales to Taiwan and warned that U.S. involvement in the Taiwan Strait cannot prevent what Beijing calls “complete reunification,” issuing the statement as the Chinese military launched large-scale drills encircling the island.

In a statement posted on social media, the ministry’s North American and Oceania affairs department criticized Washington’s approval of an $11.1 billion arms package for Taiwan, describing the move as a breach of U.S. commitments and warning it would “harm others” and ultimately “harm itself,” according to Chinese and state-linked media accounts.

The statement urged the United States to recognize what it called the “serious consequences” of arming Taiwan and argued that attempts to support “Taiwan independence” would increase the risk of conflict and confrontation between China and the United States.

It also invoked history, saying the United States sent warships to the Taiwan Strait more than 70 years ago to block reunification by force, adding that “China is no longer the China of over 70 years ago” and claiming a “fundamental shift” in the cross-strait balance of power.

“No matter how much the U.S. tries to turn Taiwan into a ‘porcupine,’ it cannot stop the historical trend of China’s complete reunification,” the statement said, warning that Washington would “reap what it sows” by encouraging pro-independence forces.

The foreign ministry’s comments followed an announcement earlier Monday by the People’s Liberation Army’s Eastern Theater Command that it would conduct joint drills involving land, sea, air and rocket forces around Taiwan, its first major “encirclement” exercise in months, according to multiple reports.

Taiwan placed its forces on heightened alert and condemned the drills, which came after Washington moved forward with the largest U.S. arms package for Taiwan to date, Reuters reported.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

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U.S. pledges $2 billion for U.N. humanitarian aid as Trump warns agencies must ‘adapt or die’

The United States on Monday announced a $2-billion pledge for U.N. humanitarian aid as President Trump’s administration slashes U.S. foreign assistance and warns United Nations agencies to “adapt, shrink or die” in a time of new financial realities.

The money is a small fraction of what the U.S. has contributed in the past but reflects what the administration believes is still a generous amount that will maintain America’s status as the world’s largest humanitarian donor.

“This new model will better share the burden of U.N. humanitarian work with other developed countries and will require the U.N. to cut bloat, remove duplication, and commit to powerful new impact, accountability and oversight mechanisms,” Secretary of State Marco Rubio said on social media.

The pledge creates an umbrella fund from which money will be doled out to agencies and priorities, a key part of U.S. demands for drastic changes across the U.N. that have alarmed many humanitarian workers and led to severe reductions in programs and services.

The $2 billion is only a sliver of traditional U.S. humanitarian funding for U.N.-coordinated programs, which has run as high as $17 billion annually in recent years, according to U.N. data. U.S. officials say only $8 billion to $10 billion of that has been in voluntary contributions. The United States also pays billions in annual dues related to its U.N. membership.

“The piggy bank is not open to organizations that just want to return to the old system,” Jeremy Lewin, the State Department official in charge of foreign assistance, said at a press conference Monday in Geneva. “President Trump has made clear that the system is dead.”

The State Department said “individual U.N. agencies will need to adapt, shrink, or die.” Critics say the Western aid cutbacks have been shortsighted, driven millions toward hunger, displacement or disease, and harmed U.S. soft power around the world.

A year of crisis in aid

The move caps a crisis year for many U.N. organizations, including its refugee, migration and food aid agencies. The Trump administration has already cut billions in U.S. foreign aid, prompting the agencies to slash spending, aid projects and thousands of jobs. Other traditional Western donors have reduced outlays, too.

The U.S. pledge for aid programs of the United Nations — the world’s top provider of humanitarian assistance and biggest recipient of U.S. humanitarian aid money — takes shape in a preliminary deal with the U.N. Office for the Coordination of Humanitarian Affairs, or OCHA, run by Tom Fletcher, a former British diplomat and government official.

Fletcher, who has spent the past year lobbying U.S. officials not to abandon U.N. funding altogether, appeared optimistic at the deal’s signing in Geneva.

“It’s a very, very significant landmark contribution. And a month ago, I would have anticipated the number would have been zero,” he told reporters. “And so I think, before worrying about what we haven’t got, I’d like to look at the millions of people whose lives will be saved, whose lives will be better because of this contribution, and start there.”

Even as the U.S. pulls back its aid contributions, needs have ballooned worldwide: Famine has been recorded this year in parts of conflict-ridden Sudan and Gaza, and floods, drought and natural disasters that many scientists attribute to climate change have taken many lives or driven thousands from their homes.

The cuts will have major implications for U.N. affiliates like the International Organization for Migration, the World Food Program and refugee agency UNHCR. They have already received billions less from the U.S. this year than under annual allocations from the Biden administration — or even during Trump’s first term.

Now, the idea is that Fletcher’s office — which has aimed to improve efficiency — will become a funnel for U.S. and other aid money that can be redirected to those agencies, rather than scattered U.S. contributions to a variety of individual appeals for aid.

Asked by reporters if the U.S. language of “adapt or die” worried him, Fletcher said, “If the choices are adapt or die, I choose adapt.”

U.S. seeks aid consolidation

U.S. officials say the $2 billion is just a first outlay to help fund OCHA’s annual appeal for money. Fletcher, noting the upended aid landscape, already slashed the request this year. Other traditional U.N. donors like Britain, France, Germany and Japan have reduced aid allocations and sought reforms this year.

“This humanitarian reset at the United Nations should deliver more aid with fewer tax dollars — providing more focused, results-driven assistance aligned with U.S foreign policy,” U.S. Ambassador to the United Nations Mike Waltz said.

At its core, the changes will help establish pools of funding that can be directed either to specific crises or countries in need. A total of 17 countries will be initially targeted, including Bangladesh, the Democratic Republic of the Congo, Haiti, Syria and Ukraine.

Two of the world’s most desperate countries, Afghanistan and Yemen, are not included, with U.S. officials citing aid diversion to the Taliban and Houthi rebels as concerns over restarting contributions.

Also not mentioned on the list are the Palestinian territories, which officials say will be covered by money stemming from Trump’s as-yet-incomplete Gaza peace plan.

The U.N. project, months in the making, stems from Trump’s longtime view that the world body has great promise but has failed to live up to it and has — in his eyes — drifted too far from its original mandate to save lives while undermining American interests, promoting radical ideologies and encouraging wasteful, unaccountable spending.

“No one wants to be an aid recipient. No one wants to be living in a UNHCR camp because they’ve been displaced by conflict,” Lewin said. “So the best thing that we can do to decrease costs, and President Trump recognizes this and that’s why he’s the president of peace, is by ending armed conflict and allowing communities to get back to peace and prosperity.”

Keaten and Lee write for the Associated Press. Lee reported from Washington. AP writer Farnoush Amiri contributed to this report from New York.

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EU warns of possible action after the U.S. bars 5 Europeans accused of censorship

The European Union’s executive arm on Wednesday warned that it would take action against any “unjustified measures” after the U.S. State Department barred five Europeans it accuses of pressuring U.S. technology firms to censor or suppress American viewpoints.

The Europeans were characterized by U.S. Secretary of State Marco Rubio as “radical” activists and “weaponized” nongovernmental organizations. They include the former EU commissioner responsible for supervising social media rules, Thierry Breton.

Breton, a businessman and former French finance minister, clashed last year on social media with tech billionaire Elon Musk over broadcasting an online interview with Donald Trump in the months leading up to the U.S. election.

The European Commission, the EU’s powerful executive branch and which supervises tech regulation in Europe, said that it “strongly condemns the U.S. decision to impose travel restrictions” and that it has requested clarification about the move. French President Emmanuel Macron also condemned it.

“If needed, we will respond swiftly and decisively to defend our regulatory autonomy against unjustified measures,” the commission said in a statement, without elaborating.

Rubio wrote in an X post on Tuesday that “for far too long, ideologues in Europe have led organized efforts to coerce American platforms to punish American viewpoints they oppose.”

“The Trump Administration will no longer tolerate these egregious acts of extraterritorial censorship,” he posted.

The European Commission countered that “the EU is an open, rules-based single market, with the sovereign right to regulate economic activity in line with our democratic values and international commitments.”

“Our digital rules ensure a safe, fair, and level playing field for all companies, applied fairly and without discrimination,” it said.

Macron said that the visa restrictions “amount to intimidation and coercion aimed at undermining European digital sovereignty,” he posted on X.

Macron said that the EU’s digital rules were adopted by “a democratic and sovereign process” involving all member countries and the European Parliament. He said that the rules “ensure fair competition among platforms, without targeting any third country.”

He underlined that “the rules governing the European Union’s digital space are not meant to be determined outside Europe.”

Breton and the group of Europeans fell afoul of a new visa policy announced in May to restrict the entry of foreigners deemed responsible for censorship of protected speech in the United States.

The four others are: Imran Ahmed, chief executive of the Centre for Countering Digital Hate; Josephine Ballon and Anna-Lena von Hodenberg, leaders of HateAid, a German organization; and Clare Melford, who runs the Global Disinformation Index.

Rubio said the five had advanced foreign government censorship campaigns against Americans and U.S. companies, which he said created “potentially serious adverse foreign policy consequences” for the United States.

The action to bar them from the U.S. is part of a Trump administration campaign against foreign influence over online speech, using immigration law rather than platform regulations or penalties.

In a post on X on Tuesday, Sarah Rogers, the U.S. under secretary of state for public diplomacy, called Breton the “mastermind” behind the EU’s Digital Services Act, which imposes a set of strict requirements designed to keep internet users safe online. This includes flagging harmful or illegal content like hate speech.

Breton responded on X by noting that all 27 EU member countries voted for the Digital Services Act in 2022. “To our American friends: ‘Censorship isn’t where you think it is,’” he wrote.

Cook writes for the Associated Press. AP journalist Angela Charlton contributed to this report from Paris.

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Venezuela warns US ‘aggression’ is first stage amid ‘continental ambitions’ | US-Venezuela Tensions News

Venezuela’s UN ambassador denounces US military strikes and naval blockade at a meeting of the UN Security Council.

Venezuela has told the United Nations Security Council (UNSC) that the United States has “continental ambitions” over much of Latin America as it wages an unofficial war to remove the government of Venezuelan President Nicolas Maduro.

“It’s not just about Venezuela. The ambition is continental,” Venezuela’s UN ambassador, Samuel Moncada, told a meeting of the 15-member UNSC on Tuesday.

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“The US government has expressed this in its National Security Strategy, which states that the future of the continent belongs to them,” Moncada said.

“We want to alert the world that Venezuela is only the first target of a larger plan. The US government wants us to be divided so it can conquer us piece by piece,” he said.

Venezuela, earlier this month, requested that the UNSC meet to address the “ongoing US aggression”, which began in September when the White House launched air strikes against vessels in the Caribbean Sea and eastern Pacific Ocean. The White House claimed, without providing any evidence, that the vessels were trafficking drugs to the US.

At least 105 people have been killed so far in the attacks by US forces, which legal experts and Latin American leaders have branded “extrajudicial killings”, but which Washington claims are necessary to stem the flow of drugs to US shores.

At the UNSC meeting, Moncada also accused the administration of US President Donald Trump of violating both international and US domestic law, since the White House has been acting without the approval of the US Congress, whose authority is required to formally declare war on another country.

Moncada said that Trump’s imposition last week of a naval blockade on all Venezuelan oil tankers sanctioned by the US was a “military act aimed at laying siege to the Venezuelan nation”.

“Today, the masks have come off,” Moncada said. “It is not drugs, it is not security, it is not freedom. It is oil, it is mines and it is land.”

US envoy denounces ‘Maduro and his illegitimate regime’

US forces have seized at least two Venezuelan oil tankers and confiscated at least 4 million barrels of Venezuelan oil, according to Moncada, in a move he described as “a robbery carried out by military force”.

The US has defended its naval blockade of Venezuela as a “law enforcement” action to be carried out by the US coastguard, which has the authority to board ships under US sanctions. A naval blockade, by contrast, would be considered an act of war under international law.

The US ambassador to the UN, Mike Waltz, told the UNSC that Latin American drug cartels remain the “single most serious threat” and that Trump would continue to use the full power of the US to eradicate them. Waltz also said that Venezuelan oil is a critical component in funding the cartels in Venezuela.

“The reality of the situation is that sanctioned oil tankers operate as the primary economic lifeline for Maduro and his illegitimate regime,” he said.

The White House earlier this year designated several international drug cartels, including Venezuela’s Tren de Aragua, as terrorist organisations. Washington also added the “Cartel de los Soles,” which it claims is headed by Maduro, to the list in November.

The Venezuelan leader has denied the US allegations and accused the Trump administration of using the drug trafficking claims as a cover to carry out “regime change” in his country.

Russia’s ambassador to the UN separately warned that US “intervention” in Venezuela could “become a template for future acts of force against Latin American states”.

China’s ambassador told the UNSC that the US actions “seriously infringe” on the “sovereignty, security and legitimate rights” of Venezuela.

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China warns South Korea-U.S. nuclear sub talks risk nonproliferation

The guided-missile submarine USS Florida transits the Suez Canal en route to the Red Sea on Friday amid heightened tensions between the United States and Iran. File U.S. Navy photo by Mass Communication Specialist 2nd Class Elliot Schaudt

Dec. 22 (Asia Today) — China has voiced strong opposition to potential cooperation between South Korea and the United States on nuclear-powered submarines, warning it could undermine the global nuclear nonproliferation regime, Chinese state media reported.

Song Zhongping, a Chinese military analyst, said in an interview published Monday by the Global Times that consultations between Seoul and Washington on nuclear submarine-related cooperation could pose a “serious threat” to nuclear nonproliferation.

The Global Times cited South Korean media reports saying the two countries plan to begin sector-by-sector consultations next year related to leader-level understandings that include nuclear submarine construction, uranium enrichment and spent nuclear fuel reprocessing.

Song said the AUKUS nuclear submarine effort with Australia set a negative precedent and suggested a similar case could emerge with South Korea. He argued that U.S. support for allies’ access to nuclear technology and nuclear fuel would weaken the Nuclear Non-Proliferation Treaty.

Song also said Japan has raised the idea of acquiring nuclear-powered submarines and warned the trend could fuel an arms race. He said more countries operating nuclear-powered submarines would increase the risk of technology leakage and accidents.

He further argued South Korea has limited practical need for nuclear-powered submarines because of its restricted coastline, the report said.

In October, Chinese Foreign Ministry spokesperson Guo Jiakun said at a regular briefing that Beijing hopes South Korea and the United States will fulfill nonproliferation obligations and avoid actions that run counter to regional peace and stability, according to the report.

– Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

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Trump warns Maduro not to ‘play tough’ as China, Russia back Venezuela | Donald Trump News

United States President Donald Trump has issued a new warning to Nicolas Maduro, saying “it would be smart” for the Venezuelan leader to leave power, as Washington escalates a pressure campaign against Caracas.

The warning on Monday came as Russia pledged “full support” for Maduro’s government, and China condemned the US’s seizure of two oil tankers off the coast of Venezuela.

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Trump, speaking at his Mar-a-Lago resort in Florida alongside his top national security aides, Secretary of State Marco Rubio and Secretary of Defense Pete Hegseth, suggested that he remains ready to further escalate his four-month pressure campaign.

When asked if the ⁠goal was to force Maduro from power, Trump told reporters: “Well, I think it probably would… That’s up to him what he wants to do. I think it’d be smart for him to do that. But again, we’re gonna find out.”

“If he wants to do something, if he plays tough, it’ll be the ​last time he’s ever able to play ‌tough,” he added.

Trump levied his latest threat as the US coastguard continued for a second day to chase a third oil tanker that it described as part of a “dark fleet” that Venezuela uses to evade US sanctions.

“It’s moving along, and we’ll end up getting it,” Trump said.

The US president also promised to keep the ships and the nearly 4 million barrels of Venezuelan oil the coastguard has seized so far.

“Maybe we’ll sell it. Maybe we’ll keep it. Maybe we will use it in the strategic reserves,” he said. “We’re keeping it. We’re keeping the ships also.”

Maduro fires back

Trump’s campaign against Venezuela’s vital oil sector comes amid a large US military buildup in the region with a stated mission of combating drug trafficking, as well as more than two dozen strikes on alleged drug trafficking vessels in the Pacific Ocean and Caribbean Sea near the South American nation.

Critics have questioned the legality of the attacks, which have killed more than 100 people.

Venezuela denies any involvement in drug trafficking and insists that Washington is seeking to overthrow Maduro to seize the country’s oil reserves, which are the world’s largest.

It has condemned the US’s vessel seizures as acts of “international piracy”.

Maduro fired back at Trump hours after the latest warning, saying the US president would be “better off” if he focused on his own country’s problems rather than threatening Caracas.

“He would be better off in his own country on economic and social issues, and he would be better off in the world if he took care of his country’s affairs,” Maduro said in a speech broadcast on public television.

The exchange of words came on the eve of a United Nations Security Council meeting on Tuesday to discuss the growing crisis.

Russia’s Minister of Foreign Affairs Sergey Lavrov, in a phone call with his Venezuelan counterpart, Yvan Gil, slammed the US’s actions and expressed support for Caracas.

“The ministers expressed their deep concern over the escalation of Washington’s actions in the Caribbean Sea, which could have serious consequences for the region and threaten international shipping,” the Russian Ministry of Foreign Affairs said in a statement.

“The Russian side reaffirmed its full support for and solidarity with the Venezuelan leadership and people in the current context,” it added.

US blockade

China also condemned the US’s latest moves as a “serious violation of international law”.

“China opposes any actions that violate the purposes and principles of the United Nations Charter and infringe upon the sovereignty and security of other countries,” said Lin Jian, a spokesperson for the Chinese Foreign Ministry.

“Venezuela has the right to develop independently and engage in a mutually beneficial cooperation with other nations. China understands and supports Venezuela’s stance in safeguarding its legitimate rights and interests,” he added.

Last week, Rubio brushed aside Moscow’s stated support for Caracas.

Washington, he said, was “not concerned about an escalation with Russia with regards to Venezuela” as “they have their hands full in Ukraine”.

US-Russia relations have soured in recent weeks as Trump has voiced frustration with Moscow over the lack of a resolution on the war in Ukraine

Gil, on Monday, also read a letter on state television, signed by Maduro and addressed to UN member nations, warning that the US blockade “will affect the supply of oil and energy” globally.

“Venezuela reaffirms its vocation for peace, but also declares with absolute clarity that it is prepared to defend its sovereignty, its territorial integrity and its resources in accordance with international law,” he said.

“However, we responsibly warn that these aggressions will not only impact Venezuela. The blockade and piracy against Venezuelan energy trade will affect oil and energy supply, increase instability in international markets, and hit the economies of Latin America, the Caribbean, and the world, especially in the most vulnerable countries.”

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Good Morning Britain star warns ‘they could die’ in heartbreaking news update

Good Morning Britain host Adil Ray discussed a “serious situation” on Friday

A Good Morning Britain star warned “they could die” in a heartbreaking news update on Friday (December 19).

During the latest episode of the popular ITV breakfast show, presenters Adil Ray and Charlotte Hawkins brought viewers up to speed with breaking news from Britain and beyond.

They were accompanied in the studio by Sean Fletcher, who covered additional news items, whilst Laura Tobin delivered regular weather forecasts live from Nottingham.

Later in the programme, Adil and Charlotte examined the day’s pressing issues alongside regular panellists Salma Shah and Caroline Flint.

The discussion soon turned to the continuing Middle East conflict, with Adil identifying the eight Palestine Action campaigners who have been engaged in an indefinite hunger strike at HMP Bronzefield in Surrey, reports Wales Online.

The protest action commenced on November 2 and has been characterised as “the biggest coordinated prison hunger strike” in nearly four decades in Britain, according to campaign organisation Prisoners for Palestine, speaking at a press briefing on Thursday (December 18).

Over 800 medical professionals, legal specialists, and relatives have written to Justice Secretary David Lammy, calling on him to meet with their legal representatives to address the continuing demonstration.

“They have been arrested and charged because they were part of the Palestinian protests. Some of them have been on hunger strike for 47 days, it’s 48 now actually,” Adil stated.

“I’m too young to remember, but in 1981, IRA prisoners went on hunger strike. Some of them died within 46 days. It’s a serious situation.

“Should we be doing more in this case, Salma? Should the government be intervening? They’re saying the prisons have a system to deal with this. These could die. These prisoners are on remand, but they could die in prison.”

Salma responded: “It’s a difficult situation because nobody wants them to die, and they have decided to take a very drastic measure by going on a hunger strike.

“As I understand it, of the eight, there were six that were in critical condition; two of them have now stopped their hunger strike because they were in such a bad way.

“What we need to do is ensure that the medical support team that is in prison is allowed to try and convince them that this is not the right action going forward, because losing lives is not going to fundamentally change what they want to change.”

A spokesperson for the Ministry of Justice previously stated: “The Deputy Prime Minister has responded to and will continue to respond to correspondence on this issue, and is being kept informed of the situation. We continually assess prisoners’ wellbeing and will always take the appropriate action, including taking prisoners to hospital if they are assessed as needing treatment by a medical professional.”

Good Morning Britain airs weekdays on ITV1 and ITVX at 6am

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Don’t write off Northern Ireland, Wales boss Craig Bellamy warns

Northern Ireland are 69th in the Fifa world rankings, 57 places below Italy and 27 adrift of Wales, but two spots above Bosnia.

Michael O’Neill’s side finished third behind Germany and Slovakia in the World Cup qualifying group but secured their play-off place thanks to their Nations League success.

Italy, Wales and Bosnia all finished second in their groups, behind Norway, Belgium and Austria respectively.

Northern Ireland are looking to qualify for their first major tournament since Euro 2016, when they were knocked out in the second round by a Wales side who went on to reach the semi-finals under Chris Coleman.

O’Neill was in the midst of his first, nine-year spell in charge of Northern Ireland at the time and is now three years into his second stint as his country’s manager.

“Down the years they’ve just had something and they know what they are. They’ve got a brilliant manager who I really like,” Bellamy added.

“I was lucky enough to spend a bit of time with him as well, and I loved him. No wonder his players do well. They won’t be playing at their home ground [against Italy], but I just feel they’ll be comfortable in any situation you throw them into.

“There will be pressure coming on Italy because they haven’t qualified for two World Cups. If I was Italy going into that game, with everyone expecting you to win, I’m telling you I’d be edgy. I wouldn’t be comfortable with it.

“Italy is one of the greatest nations in football and that’s a lot of responsibility to shoulder. To have to play a team like Northern Ireland, I’d just be thinking let’s get through this and see what happens in the other game.”

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New chief of Britain’s MI6 warns of threat from Russian hybrid warfare

The use of hybrid warfare tactics was the most dangerous aspect of the threat posed by an “aggressive, expansionist and revisionist” Russia, MI6 chief Blaise Metreweli was set to say Monday in her first speech since taking over at Britain’s spy agency in October. File photo courtesy U.K. Foreign Office/EPA-EFE

Dec. 15 (UPI) — Incoming spy chief Blaise Metreweli will use her first speech as head of MI6, Britain’s foreign intelligence service, to warn of the grave threat from Russia, particularly from its use of hybrid warfare.

The agency’s first woman head was set to warn of what she called “an acute threat posed by an aggressive, expansionist and revisionist Russia” and that its use of cyberattacks and drones meant “the frontline was everywhere.”

Metreweli, who took over from the outgoing “C,” Sir Richard Moore, on Oct. 1, will detail incidents of hacking and flying of drones near vital infrastructure by Russian proxies as examples of its use of hybrid tactics.

Russia has been waging this type of low-grade war on Ukraine‘s Western allies since Russia’s full-scale invasion in 2022, according to analysts, flying drones into NATO airspace neighboring Ukraine, disrupting flights by allegedly flying drones near European airports and cutting undersea cables.

In Britain, this has included recruiting Britons to spy for it, allegedly paying individuals to carry out an arson attack on a factory in London owned by Ukrainians and pointing lasers at RAF jets tracking Russian spy ships.

Speaking at MI6 HQ in central London, Metreweli was expected to vow Britain would not let up its campaign to impede Russian President Vladimir Putin’s aggression against Ukraine, noting recent sanctions imposed on Russian organizations and individuals the government believes were involved in information warfare.

“The export of chaos is a feature not a bug in the Russian approach to international engagement; and we should be ready for this to continue until Putin is forced to change his calculus,” she is expected to say.

As expected, Metreweli, who previously served as MI6’s technology and innovation lead, made famous by the character “Q” in the James Bond movie franchise, will stress the key role technology must play going forward.

She will urge intelligence officers to become technology experts “not just in our labs, but in the field, in our tradecraft.”

“We must be as comfortable with lines of code as we are with human sources, as fluent in Python [the computer progamming language] as we are in multiple languages.”

In September, MI6 launched Silent Courier, a secure messaging platform on the dark web, enabling spies to anonymously upload information useful to British intelligence from anywhere in the world. A YouTube video tutorial accompanied the launch.

Britain was, Foreign Secretary Yvette Cooper said “bolstering their efforts with cutting-edge tech so MI6 can recruit new spies for the United Kingdom — in Russia and around the world.”

The service also carried the following disclaimer from the Foreign Office.

“MI6 advises individuals accessing its portal to use trustworthy VPNs and devices not linked to themselves, to mitigate risks which exist in some countries.

“Do not use a name, phone number or other data linked to your real identity when creating this account,” it added.

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