Europe faces a second China shock

Gulf monarchies raised almost $10bn in private sales of bonds this month, oil shortages are coming if the Strait of Hormuz stays closed, and US President Donald Trump has renewed his threat to fire Federal Reserve chair Jay Powell. Plus, a second China shock is hitting the global economy, and Allbirds is pivoting from wool sneakers to AI. 

Mentioned in this podcast:

Gulf states turn to private deals in $10bn wartime borrowing spree

Oil shortages are coming, and with them some difficult questions

Trump threatens to fire Jay Powell and refuses to halt criminal probe

China shock 2.0: the flood of high-tech goods that will change the world

Allbirds is turning into an AI compute provider, because of course it is

Note: The FT does not use generative AI to voice its podcasts 

Today’s FT News Briefing was hosted by Victoria Craig, and produced by Saffeya Ahmed, Fiona Simon and Sonja Hutson. Our show was mixed by Sam Giovinco. Additional help from Gavin Kallmann. Our executive producer is Topher Forhecz. Cheryl Brumley is the FT’s Global Head of Audio. The show’s theme music is by Metaphor Music.

Read a transcript of this episode on FT.com

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