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Real estate: China's crisis is worse than expected

China's real estate crisis is strikingly reminiscent of Japan's disastrous crash in the 1990s. Back then too, misdiagnoses helped turn an economic crisis into a demographic catastrophe. Is history repeating itself - or is China learning from its neighbor's mistakes?

Von Yi Fuxian

Defense: Taiwan launches annual military drills

Taiwan has begun its largest annual military exercises to date, simulating the realities of a potential Chinese invasion. The Chinese Ministry of Defense dismissed the drills as “nothing but a bluff”. At the same time, China has imposed sanctions on eight Taiwanese companies.

Von Leonardo Pape