Beijing has a three-body problemBy Aadil BrarEvery analyst watching Iran’s succession crisis is asking who would replace supreme leader Ayatollah Ali Khamenei. Yet, the real question is whether China has learned enough from the Persian Gulf to survive a war over Taiwan. The Persian Gulf crisis is grading the exam. What China does in the Persian Gulf over the next 60 days is far less choreographed — and therefore far more honest. The Persian Gulf has always been described as a Middle Eastern story with global energy implications.

Kosovo parliament dissolved, president urges snap electionAP, PRISTINAKosovar President Vjosa Osmani on Friday after dissolving the Kosovar parliament said a snap election should be held as soon as possible to avoid another prolonged political crisis in the Balkan country at a time of global turmoil. “It is very hard now to imagine what will happen next.”Kosovar President Vjosa Osmani speaks during a news conference to dissolve the Kosovo parliament in Pristina on Friday. Osmani dissolved parliament after lawmakers failed to elect her successor by a midnight Thursday deadline due to a lack of a quorum in the 120-member assembly. An election in February last year resulted in no clear majority and an almost year-long political deadlock that forced a snap vote in December last year. The party has asked the Kosovo Constitutional Court to temporarily suspend the deadline for the election of Kosovo’s next president.

Trump convenes Latin American headsFRAGILE ALLIANCE: An expert said without Mexico and Brazil, led by leftist leaders, the coalition would find it hard to successfully tackle narcotrafficking and counterterrorismAFP, MIAMIUS President Donald Trump was yesterday to meet with a dozen right-wing leaders from Latin America and the Caribbean to discuss issues facing the region, from organized crime to illegal immigration. Trump has already staked bold claims in Latin America with the ouster of former Venezuelan president Nicolas Maduro and working with his replacement, Delcy Rodriguez, to claim Venezuelan oil reserves for the US. US President Donald Trump disembarks from Air Force One at the Miami International Airport in Florida on Friday. Photo: AFPMost of the right-wing heads of state share concern about the rising power of drug cartels in Latin America, a phenomenon that has spread to countries considered fairly safe until recently such as Ecuador and Chile, International Institute for Strategic Studies Latin America expert Irene Mia said. The support of the right-led Latin American countries for US interests “is quite fragile, because the relationship between Latin America and the US is so problematic,” Mia said.

Russia’s invasion of Ukraine is a war of annexation; the strike against the Iranian regime is a war of accountability. A rules-based order does not collapse because a violator is finally confronted; it collapses because the rules carry no cost for those who break them. Fourth, the argument that US action in Iran distracts from the Indo-Pacific region ignores the reality that deterrence is indivisible. The old world order, upheld by a paralyzed UN had already been hollowed out by the very autocrats they fear could be emboldened. Calling this moment the collapse of international order misunderstands the fragility of that order and the responsibilities required to sustain it.

What would make an illegal war morally defensible? By Gareth EvansIn international relations, manifestly illegal government action can sometimes be morally defensible. Nonetheless, can one still argue that, whatever the law, the monstrous crimes of Iran’s theocratic leadership justify its military decapitation? The threat to international law lies not in its occasional breach — that happens in all legal systems, sometimes for the best of reasons — but in its contemptuous dismissal. And based on what we have seen so far, Trump and Netanyahu face an uphill battle in arguing any such case.

Why the Iran war has prompted panic selling in North AsiaBy Shuli Ren / Bloomberg OpinionIt turns out, the biggest financial victim of US President Donald Trump’s decision to strike Iran is not the S&P 500, but equity markets across North Asia. Panic selling was sweeping across Hong Kong, Seoul and Tokyo on Wednesday. North Asia is known for its dependence on oil and natural gas imports, but if we are talking about an economic meltdown, the Iran conflict might be pushing Europe into an energy crisis first. So why are North Asian markets so vulnerable? Shuli Ren is a Bloomberg Opinion columnist covering Asian markets.

EU unveils ‘made in Europe’ pushBy Umberto Bacchi / AFP, BRUSSELSThe EU on Wednesday unveiled new “made in Europe” rules to bolster the bloc’s industries against fierce competition from China, in a push held up for months by wrangling over measures some see as overly protectionist. European Commission Executive Vice President for Prosperity and Industrial Strategy Stephane Sejourne unveils the EU’s “industrial accelerator act” at the commission headquarters in Brussels on Wednesday. Photo: AFPBroadly, the rules aim to ensure that public and foreign investments support manufacturing inside the 27-nation bloc, an EU official said. Countries that have deals with the EU allowing for European companies to access public money on a par with local firms in the sectors concerned would be brought into the fold. “Nobody needs another ‘industrial bureaucracy act,’” lamented Dirk Jandura of German foreign trade association BGA.

Hungary releases seized Ukrainians, keeps moneyAP, BUDAPESTHungarian authorities temporarily detained seven Ukrainian citizens and seized two armored cars carrying tens of millions of euros in cash across Hungary on suspicion of money laundering, officials said on Friday. The Ukrainians were released on Friday, following their detention on Thursday, but Hungarian officials held onto the cash, prompting Ukraine to accuse Hungary’s Russia-friendly government of illegally seizing the money. The Hungarian government said it would expel the seven detained Ukrainians, but did not give details on why they would be released if they were suspected of money laundering. The incident further inflamed rising tensions between Hungary and Ukraine, which are embroiled in a bitter feud over Hungary’s access to Russian oil through a pipeline that crosses Ukrainian territory. He on Thursday told an economic forum that Hungary would use “force,” including “political and financial tools,” to compel Ukraine to resume oil shipments.

Indonesia to implement under-16 social media banMORE BANS: Australia last year required sites to remove accounts held by under-16s, with a few countries pushing for similar action at an EU level and India considering its own banAFP, JAKARTAIndonesia on Friday said it would ban social media access for children under 16, citing threats from online pornography, cyberbullying, online fraud and Internet addiction. Photo: DPA via APThe social media ban would be introduced in stages “until all platforms fulfill their compliance obligations,” she added. TikTok Indonesia and Google Indonesia did not respond to requests for comment. An EU expert group began work this week on a similar social media ban for children after Australia required TikTok, YouTube, Snapchat and other sites in December last year to remove accounts held by under-16s. France, Denmark, Greece and Spain have been pushing for similar action at EU level, and India has been considering a teen social media ban of its own.

NCIST mulls Kratos drone collaborationPLAN: The cooperation might involve combining the Indigenous Defense Fighter engine, a domestic AESA and Kratos’ XQ-58A stealth drone, a defense official saidBy Lo Tien-pin and Jonathan Chin / Staff reporter, with staff writerTaiwan’s state-run defense research group is mulling developing autonomous “loyal wingman” drones to support fighter jets in a potential collaboration with a US-based manufacturer, a source said. Speaking on condition of anonymity, a defense official said the National Chungshan Institute of Science and Technology (NCIST) has reached out to Kratos Defense in a bid to collaborate in building combat aircraft utilizing technologies featured in the latter’s XQ-58A Valkyrie. The NCIST is optimistic that the project would go forward, as Kratos has shared valuable technologies, the official said. National Chungshan Institute of Science and Technology engineers and a Kratos Defense representative pose for a picture in front of a Mighty Hornet IV loitering munition, front, and a Kratos XQ-58A Valkyrie in an undated photograph. The XQ-58A is a multi-role platform capable of carrying “kinetic and non-kinetic effectors” in its internal bomb bay and wing stations, Kratos Defense said.

Taiwan crushes Czechia 14-0 at the WBCREASSURING COMEBACK: After a demoralizing loss to Japan on Friday, the Taiwan team’s bats came alive, setting a new record with eight stolen bases in a single gameStaff writer, with CNATaiwan secured their first victory in this year’s World Baseball Classic (WBC) yesterday, handing the Czech Republic a 14-0 trouncing at the Tokyo Dome. After being defeated in its first two Pool C games — including a demoralizing 13-0 loss to Japan on Friday — Taiwan’s bats came alive. Designated hitter Stuart Fairchild, left, hits a grand slam home run during Taiwan’s World Baseball Classic game against the Czech Republic at the Tokyo Dome yesterday. Taiwan’s Chen Chen-wei steals second base during the World Baseball Classic game between Taiwan and the Czech Republic at the Tokyo Dome yesterday. The 11am matchup is a “must-win” for Taiwan to keep its hopes of advancing to the quarterfinals alive.

Premier Cho makes surprise visit to Japan for WBCBy Lin Tsuei-yi, Chung Li-hua and Chen Cheng-yu / Staff Reporters in Tokyo and TaipeiPremier Cho Jung-tai (卓榮泰) attended the World Baseball Classic (WBC) game between Taiwan and the Czech Republic in Tokyo yesterday — the first time an incumbent Taiwanese premier has visited Japan since Taipei and Tokyo severed diplomatic ties in 1972. Taiwanese baseball fans greet Premier Cho Jung-tai, center, at the World Baseball Classic game between Taiwan and the Czech Republic in Tokyo yesterday. Sources said Cho arrived in Japan earlier yesterday, where an agreement was made with Japanese officials not to publicly disclose the details of his one-day whirlwind visit. At the meeting, Hagiuda mentioned that Cho was about to visit Japan, Kuo said, adding that he was surprised. Kuo described the visit as a breakthrough in “baseball diplomacy,” as it was the first time a sitting premier from Taiwan has visited Japan.

Bank of England to scenario plan an AI shock amid fearsBy Philip Aldrick / BloombergThe Bank of England (BOE) is planning to war-game the potential economic and financial impact of a full-blown artificial intelligence (AI) shock amid fears that the technology would cost vast numbers of jobs and cut through a swathe of businesses. University College London economics professor Wendy Carlin also urged the BOE to start war-gaming AI-led economic risks. The bank currently runs banking stress tests once every two years to see how resilient the system is against extreme risks. At the same event, BOE chief economist Huw Pill said the bank does not have the tools to rescue the economy from an AI catastrophe. BOE Governor Andrew Bailey, an economic historian, compared AI to the Industrial Revolution and said it was likely to displace jobs.

The IT revolution of the 1990s led to a surge in productivity that sped up the US economy for several years. Economists expect AI would deliver higher productivity, which is key to raising growth rates in the long run. A trader blows a chewing gum bubble as he works on the floor of the New York Stock Exchange on Thursday. Take Block, the fintech firm run by Twitter founder Jack Dorsey, said on Feb. 26 that it was slashing almost half its staff in a bet on AI productivity. It is all part of what the economist Joseph Schumpeter called the “creative destruction” which leads to progress.

Taiwan beat Vietnam 1-0 in Asian CupCHANCE TO QUALIFY: Both teams now have three points from two games, and Taiwan sit ahead of Vietnam and behind Japan, who last night beat India 11-0AP, PERTH, AustraliaTaiwan yesterday defeated Vietnam 1-0 to move into second place in Group C at the AFC Women’s Asian Cup with one match remaining. It was a deserved victory for Taiwan, 2-0 losers to Japan on Wednesday, who created several chances to extend their lead. Taiwan’s Huang Ke-sin, left, and Vietnam’s Thai Thi Thao vie for the ball during their AFC Women’s Asian Cup match in Perth, Australia, yesterday. Photo: AFPVietnam, the 2022 quarter-finalist, beat India in their opener, but struggled to threaten the Taiwan defense and failed to record a shot on target. Taiwan sit ahead of Vietnam and behind Japan, who last night thrashed India 11-0.