An economic perfect storm is battering emerging markets. Debt crises loom With a strengthening dollar and rising commodity prices, developing nations are having a hard time paying their debts. Jason Beaubien
China announces new drills around Taiwan as a U.S. delegation visits the island The visit comes less than two weeks after U.S. House Speaker Nancy Pelosi's visit to Taiwan, which prompted days of threatening military exercises by China. The Associated Press
On Japan's Yonaguni island, fears of being on the front line of a Taiwan conflict Japan's westernmost island lies in sight of Taiwan, less than 70 miles away. On Thursday, a Chinese missile landed near Yonaguni. Japan has been strengthening defenses across its southwest islands. Anthony Kuhn
China says it carried out precision missile strikes in the Taiwan Strait China is conducting military exercises that have raised tensions in the region to their highest level in decades. The drills were prompted by a visit to Taiwan by U.S. House Speaker Nancy Pelosi. The Associated Press
China's Xi warns Biden over Taiwan, calls for cooperation President Xi Jinping warned against meddling in China's dealings with Taiwan during a phone call with his U.S. counterpart, Joe Biden, that gave no indication of progress on diplomatic relations. The Associated Press
China's economic growth slows following COVID lockdowns China's economy contracted in the three months ending in June compared with the previous quarter after Shanghai and other cities shut down to fight coronavirus outbreaks. The Associated Press
Xi defends vision of Hong Kong while marking 25-year anniversary of handover China's president says the "one country, two systems" framework is working — even as recent changes have all but eliminated dissenting voices in the territory. The Associated Press
Biden said the G-7 would counter Chinese influence. This year, he'll try again At the last G-7, President Biden announced a plan for the West to counter China's influence in low- and middle-income countries. But not much has happened since. This year, there's a relaunch. Tamara Keith
China upgrades its naval force with its first indigenous aircraft carrier The newest ship's capabilities are thought to rival those of Western carriers, as Beijing seeks to turn its navy, already the world's largest, into a multi-carrier force. The Associated Press
Was Hong Kong a colony? Not according to new textbooks, a newspaper says New textbooks contend the territory was never a British colony. The reason: China never recognized the treaties that ceded it to Britain. John Ruwitch
