Fed rate cut gives China room to move as Beijing eyes more economic stimulus

 South China Morning Post,

The US Federal Reserve’s decision to cut interest rates by a quarter percentage point has given China more flexibility to adjust its economic policy. This move has raised expectations that Beijing may introduce further stimulus measures, particularly as the meeting of its top legislative body approaches. With the US economy facing challenges, the rate cut allows China to manage its economic recovery more effectively, potentially offering relief to key sectors, especially in light of the political uncertainty following the potential return of President-elect Donald Trump.

Elon Musk-Inspired D.O.G.E. Meme Coin Skyrockets, Outpacing Dogecoin Gains

 Decrypt,

The Ethereum-based meme coin, Department of Government Efficiency (D.O.G.E.), inspired by Elon Musk’s proposed government agency, has surged by 291% this week, outperforming Dogecoin. Launched in August, D.O.G.E. now boasts a market cap of $161 million, with its price jumping by more than 1,400% since its inception. While Dogecoin continues to dominate the meme coin market by market cap, D.O.G.E.’s rise highlights the ongoing influence of Musk’s public persona in cryptocurrency markets. The surge was triggered by Musk’s mention of the fictional agency and his subsequent appearances supporting the coin.

Russia Vows ‘Very Painful’ Response As Kyiv Eyes $300 Billion of Frozen Assets

 Newsweek,

Russia has threatened severe retaliation if its frozen assets, worth approximately $300 billion, are used by Ukraine’s allies to finance Ukraine’s war efforts. Following the G7’s freezing of Russian central bank assets after Moscow’s invasion in 2022, Ukraine has pushed for these funds to support its military campaign. Russia has described the seizure as theft and warned of “very painful” consequences if the assets are allocated to Ukraine. Ukrainian President Volodymyr Zelensky has called on Europe to use the funds, asserting that Russia’s destruction of Ukraine has justified this demand.

Iranian Asset Charged in Plot to Assassinate Trump

Fox News,

The US Justice Department has disrupted an Iranian plot to assassinate President-elect Donald Trump in the lead-up to the election. Farhad Shakeri, a 51-year-old Iranian national, was tasked by the Islamic Revolutionary Guards Corps to carry out the assassination. Shakeri, along with two accomplices, was also involved in a separate scheme to target an Iranian American journalist in New York. The plot’s exposure has led to multiple charges against the suspects, including conspiracy to commit murder-for-hire and material support to a foreign terrorist organization.

Dragon Spacecraft Boosts Station for First Time

 NASA Blog,

NASA and SpaceX have successfully tested the Dragon spacecraft’s reboost capabilities by adjusting the International Space Station’s orbit for the first time. The spacecraft’s Draco thrusters raised the station’s altitude, demonstrating that Dragon can provide essential reboost and attitude control. This capability ensures that the ISS remains in orbit without relying solely on Russian and Northrop Grumman spacecraft. The Dragon cargo ship recently delivered over 6,000 pounds of supplies to the ISS, marking SpaceX’s 31st resupply mission under NASA’s commercial resupply services contract.

Biden Administration to Allow American Military Contractors to Deploy to Ukraine for First Time Since Russia’s Invasion

 CNN,

The Biden administration has lifted a ban on American military contractors deploying to Ukraine, marking a shift in the US’s policy regarding military support. Contractors will assist in maintaining and repairing US-provided weapons systems, including F-16 jets and Patriot missiles, in Ukraine. This decision aims to accelerate the repair of vital military equipment that has been damaged in combat. Although US troops will remain absent from the front lines, contractors will help restore critical assets faster, bolstering Ukraine’s defense capabilities.

As Trump Returns, Asia Prepares to Pay the Price for Reprise of ‘America First’ Policy

 South China Morning Post,

Asia is bracing for the resurgence of the “America First” policy under a potential second Trump presidency. Analysts predict that this shift will affect trade, defense arrangements, and climate cooperation, with countries in the region expected to bear more financial burdens. Trump’s previous term saw dramatic policy reversals, from withdrawing from international trade agreements to escalating tariffs on China. As he returns to office, these policies are expected to be revisited, further reshaping America’s role in the Asia-Pacific region.

India’s Modi Rejects Calls to Restore Kashmir’s Partial Autonomy

Reuters,

Indian Prime Minister Narendra Modi has firmly rejected calls to restore the partial autonomy of Jammu and Kashmir, which was revoked by his government in 2019. Modi emphasized that the constitutional framework set by B.R. Ambedkar, a key figure in India’s constitutional history, would be the only law governing Kashmir. The rejection came in response to a resolution passed by newly elected lawmakers in the region who had sought the restoration of autonomy. This issue remains a contentious topic amid the ongoing dispute over Kashmir’s status between India and Pakistan.