AGP Executive Report
Last update: 15 minutes agoClimate: El Niño has reached its strongest level since records began in 1949, Japan’s weather agency says, with conditions expected to persist through the Northern Hemisphere winter. Japan’s Economy: Cabinet approved a bill to cut the tax on food and drink from 8% to 1% for two years, a first since the consumption tax began in 1989; the plan faces questions over how to cover lost revenue. Workers’ Rights: China has proposed its first nationwide rules for gig workers, including protections against opaque platform algorithms, withheld pay and excessive hours. Cybersecurity: South Korean banks are facing a wave of attacks; CrowdStrike says a suspected China-based hacker used AI tools, prompting President Lee to demand a stronger response. Regional Security: Seoul tested its first domestically developed hypersonic glide vehicle amid rising tensions with North Korea, while Pyongyang rejected South Korea’s medical aid offer as a provocation. Trade: China’s expanding presence in Europe’s auto market is sharpening tensions, as EU officials press Beijing over trade imbalances and Chinese car exports. Pacific Diplomacy: Fiji’s attorney-general says China’s proposed security and communications deal with 10 Pacific nations remains under discussion, not signed.
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