A new and defiant chapter in global diplomacy is unfolding, as a high-stakes meeting between the leaders of India and China signals a significant realignment of power in Asia.
This diplomatic pivot comes as a fresh wave of data reveals the punishing impact of US tariffs on the region’s manufacturing powerhouses, forcing nations to forge new partnerships in a world increasingly fractured by trade disputes.
Here’s your one-stop stand to catch up on all the headlines you may have missed.
Modi shores up ties with China and Russia in defiance of Trump
In his first trip to China in seven years, Indian Prime Minister Narendra Modi has moved to reset relations with his powerful neighbor, while also strengthening ties with Russia, in a clear and defiant response to rising tensions with the United States.
Modi held talks with Chinese President Xi Jinping in Tianjin on Sunday, with both leaders pledging to be “partners, not rivals.” On Monday, he met with Russian President Vladimir Putin.
The meetings come just days after the Trump administration imposed a crushing 50 percent tariff on Indian goods as punishment for New Delhi’s purchases of Russian oil.
The moves signal that India is now actively seeking its own path.
“It’s important for countries like India to find its own path and own partners,” said former Indian ambassador Anil Trigunayat.
US revokes China chip gear permits for Samsung, SK Hynix
The Trump administration has decided to make it harder for the world’s largest memory chipmakers, Samsung Electronics Co. and SK Hynix Inc., to ship critical equipment to their massive Chinese operations.
The surprise ruling revokes the companies’ “validated end user” status, which had allowed them to import US chipmaking equipment without applying for a new license each time.
The move dealt a potential blow to their production in the world’s largest semiconductor market, sending Samsung shares down more than 2 percent and SK Hynix tumbling over 4 percent.
The companies now have 120 days until the waiver expires to seek new licenses.
Asia factory activity shrinks as US tariffs bite
The punishing impact of US tariffs is now clearly visible in the latest economic data, with private surveys on Monday showing that factory activity shrank across much of Asia in August.
The grim reports from export powerhouses like Japan, South Korea, and Taiwan reinforce fears that manufacturers, who had been frontloading shipments to beat the levies, are now facing a period of intense pressure and weakening profits.
In a notable divergence, China’s factory activity bucked the trend, with the RatingDog China General Manufacturing PMI rising to 50.5, a reading that indicates expansion.
Xi vows billions in loans to boost China-led security bloc
As US influence is challenged, Chinese President Xi Jinping is moving to expand his own.
At a summit of the Shanghai Cooperation Organization (SCO), a China- and Russia-led security bloc, Xi pledged to provide 2 billion yuan (275 million dollars) in grants and issue an additional 10 billion yuan in loans to member states.
In a thinly-veiled reference to Washington’s trade policy, he called on the group to “oppose the Cold War mentality, bloc confrontation and bullying practices.”
The summit in Tianjin, which gathered Xi’s closest allies, including Putin and Modi, was a landmark event designed to showcase a powerful alternative to the Western-led world order.
Trump dismisses health speculation, says he’s ‘never felt better’
US President Donald Trump has pushed back against speculation about his health, declaring on Truth Social that he has “never felt better” in his life.
The post on Monday came after unfounded rumors gained traction online following a several-day period without a public appearance.
The chatter intensified after Vice President JD Vance said he was prepared to take over in the event of a “terrible tragedy” while also stressing Trump remains in “incredibly good health.”
The speculation subsided after the president’s post and a subsequent appearance at his Virginia golf course.
South Korea’s August exports miss forecast as tariffs weigh
South Korea, an early bellwether for the health of global trade, has reported that its export growth slowed far more than expected in August, a direct consequence of new US tariffs.
Exports from Asia’s fourth-largest economy rose just 1.3 percent from a year earlier, much weaker than the 3.0 percent increase economists had forecast.
While robust chip sales are still providing a tailwind, the sharp slowdown from July’s 5.8 percent growth highlights the immediate and negative impact of the 15 percent US tariff that came into effect on August 7, sending a worrying signal to the rest of the region.
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