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Beijing’s Show of Force: China Launches Major Drills Around Taiwan

  A ship fires a weapon during drills east of Taiwan in this screenshot from a video released by the Eastern Theater Command of China's People's Liberation Army (PLA) on Dec. 29, 2025. China has initiated large‑scale military exercises around Taiwan, framing the operation as a direct warning to what it calls separatist forces and foreign supporters. The drills, conducted by the Eastern Theatre Command, involve naval vessels, fighter jets, and missile units operating across multiple zones encircling the island. According to Chinese military statements, the exercises are designed to test joint combat readiness and simulate scenarios such as blockades and precision strikes. The move follows heightened tensions over international engagement with Taiwan, including recent arms sales and diplomatic exchanges that Beijing views as challenges to its sovereignty claims. Taiwan’s defense ministry denounced the drills as coercive and destabilizing, placing its military on alert and trac...
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Canada to Unveil Budget Amid Fiscal Doubts

 

Canadian Finance Minister Chrystia Freeland is set to present the budget on Tuesday, but experts remain skeptical about the government’s fiscal targets. The recent surge in spending plans, particularly in housing, defense, and healthcare, has raised concerns about weakening government finances.

In last year’s Fall Economic Statement (FES), the government aimed to cap the fiscal 2023-24 budget deficit at C$40.1 billion ($29.12 billion), equivalent to about 1.4% of GDP. However, economists estimate that the deficit for the fiscal year ending March 31 could be around C$47 billion, primarily driven by government expenses.

Freeland acknowledges the need for investment in Canada’s current housing affordability crisis, exacerbated by a lack of supply and increased migration. The opposition Conservative Party has criticized the Liberal government for this situation, impacting Prime Minister Justin Trudeau’s popularity.

The upcoming budget, scheduled for presentation to parliament on Tuesday at 4:00 p.m. EDT (2000 GMT), will likely force the government to consider new taxes. However, raising taxes in an inflationary environment could hinder business investments necessary for improving Canada’s productivity.

Despite these challenges, Canada’s sovereign debt remains highly rated globally, providing some stability amidst fiscal uncertainties.

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