JULY 14, 2022 | FP Situation Report

By Robbie Gramer and Jack Detsch

Welcome back to Foreign Policy’s SitRep!

Before we get to our regularly scheduled programming, if you haven’t done so already, take a few minutes to marvel at the new high-definition imagery coming out of deep space, courtesy of the James Webb telescope.Alright, back to more earthly matters, here’s what’s on tap for the day: How South Korea is becoming a top global arms exporter, a new report warns of laggard U.S. missile defense capabilities, and Congress sours on F-16 sales to Turkey.

The Business of Booms Is Booming in South Korea

There’s been a not-so-quiet revolution taking place in South Korea in recent years, and it’s all about the defense industry.Since former President Moon Jae-in first took power in 2017, South Korea has turbocharged its arms sales abroad, positioning the country to become one of the world’s leading arms exporters and vastly outpacing the rest of the world in increasing the volume of its arms exports. Under the new conservative government, led by Yoon Suk-yeol, that trend shows no signs of slowing down.
Continue reading How South Korea is transforming into a top global arms exporter →

The military relies on advanced semiconductors. The U.S. doesn’t make any.

By David Leonhardt

NYTimes – July 14, 2022

The most advanced category of mass-produced semiconductors — used in smartphones, military technology and much more — is known as 5 nm. A single company in Taiwan, known as TSMC, makes about 90 percent of them. U.S. factories make none.

The U.S.’s struggles to keep pace in semiconductor manufacturing have already had economic downsides: Many jobs in the industry pay more than $100,000 a year, and the U.S. has lost out on them. Longer term, the situation also has the potential to cause a national security crisis: If China were to invade Taiwan and cut off exports of semiconductors, the American military would be at risk of being overmatched by its main rival for global supremacy.

Continue reading The semiconductor problem →

HONG KONG’S SUBDIVIDED UNITS (Part 1) SCMP

‘Like a caged animal’: why Hongkongers in city’s notorious subdivided flats say they have no choice

By Fiona SunPublished June 8, 2022

Hong Kong’s poor and destitute have long been unable to afford anything but subdivided living spaces. Now Beijing wants the local government to rid the city of these tiny units and “cage homes” by 2049. John Lee Ka-chiu, who will be sworn in as the city’s next leader on the 25th anniversary of Hong Kong’s return to Chinese rule on July 1, has pledged to resolve housing woes. In the first of a three-part series, Fiona Sun looks at the city’s worst homes and speaks to the people living in them. Read Part 2 here and Part 3 here.

After a long night shift, security guard Leung returns to the tiny space he calls home in an old residential building in Sham Shui Po.

Allies and rivals are striking new deals while the U.S. loses ground.

WSJ – By The Editorial Board

Updated July 5, 2022 7:16 pm ET

Listen here

The news leaking from the White House is that President Biden may finally ease tariffs against some Chinese goods—a mere 18 months into his Administration. The extended indecision underscores that Mr. Biden essentially has no trade policy while the rest of the world moves ahead with new trade deals.

Continue reading Biden’s missing trade policy →