Canada's Deal with China Signals It Is Serious About Shift from U.S.

Prime Minister Mark Carney's new approach to Canada's foreign policy can perhaps be distilled in one line: "We take the world as it is, not as we wish it to be," BBC.com reported. That was his response when asked about the deal struck with China on Friday, despite concerns over its human rights record and nearly a year after he called China "the biggest security threat" facing Canada. The deal will see Canada ease tariffs on Chinese electric vehicles that it imposed in tandem with the US in 2024. In exchange, China will lower retaliatory tariffs on key Canadian agricultural products.
Canada
China
United States
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New Zealand Manufacturing Surges Back To Life In December

New Zealand’s economy is showing signs of a full blown recovery with manufacturing activity surging in December to its highest level since 2021, the Wall Street Journal reported. The BusinessNZ performance of manufacturing index rose 4.4 points to 56.1 points in December from November, well above the average of 52.5 points since the survey began. All five sub-index values were in expansion during December, led by new orders, which achieved its highest level of activity since July 2021.
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South Korea Tightens Crypto Access as Google Play Blocks Unregistered Exchanges

South Korea is tightening its grip on how crypto platforms reach users, using app stores as an enforcement lever as regulators sharpen the boundary between compliant digital finance and unregistered crypto activity, Decrypt.com reported. The country has advanced legislation establishing a legal framework for security token offerings, creating a regulated pathway for blockchain-based issuance and trading of tokenized securities.
South Korea
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China Announces Record Trade Surplus as Its Exports Flood World Markets

China announced on Wednesday the world’s largest trade surplus ever, even adjusting for inflation, as a tsunami of exports flooded markets around the world last year, the New York Times reported. China’s surplus, the value of goods and services it sold abroad versus its imports, reached $1.19 trillion, an increase of 20 percent from 2024, according to data released by the country’s General Administration of Customs. The number had already exceeded $1 trillion through November.
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