EDITORIAL CARTOON
The EU’s biggest banks have spent years quietly creating a new way to pay that could finally allow customers to ditch their Visa Inc and Mastercard Inc cards — the latest sign that the region is looking to dislodge two of the most valuable financial firms on the planet. Wero, as the project is known, is now rolling out across much of western Europe. Backed by 16 major banks and payment processors including BNP Paribas SA, Deutsche Bank AG and Worldline SA, the platform would eventually allow a German customer to instantly settle up with, say, a hotel in France
On August 6, Ukraine crossed its northeastern border and invaded the Russian region of Kursk. After spending more than two years seeking to oust Russian forces from its own territory, Kiev turned the tables on Moscow. Vladimir Putin seemed thrown off guard. In a televised meeting about the incursion, Putin came across as patently not in control of events. The reasons for the Ukrainian offensive remain unclear. It could be an attempt to wear away at the morale of both Russia’s military and its populace, and to boost morale in Ukraine; to undermine popular and elite confidence in Putin’s rule; to
A traffic accident in Taichung — a city bus on Sept. 22 hit two Tunghai University students on a pedestrian crossing, killing one and injuring the other — has once again brought up the issue of Taiwan being a “living hell for pedestrians” and large vehicle safety to public attention. A deadly traffic accident in Taichung on Dec. 27, 2022, when a city bus hit a foreign national, his Taiwanese wife and their one-year-old son in a stroller on a pedestrian crossing, killing the wife and son, had shocked the public, leading to discussions and traffic law amendments. However, just after the
With escalating US-China competition and mutual distrust, the trend of supply chain “friend shoring” in the wake of the COVID-19 pandemic and the fragmentation of the world into rival geopolitical blocs, many analysts and policymakers worry the world is retreating into a new cold war — a world of trade bifurcation, protectionism and deglobalization. The world is in a new cold war, said Robin Niblett, former director of the London-based think tank Chatham House. Niblett said he sees the US and China slowly reaching a modus vivendi, but it might take time. The two great powers appear to be “reversing carefully
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