International - Financial Times - Credit Squeeze

Taking unnecessary equity stakes in private companies is opportunism — not strategic state capitalism

The American military and Europe’s green transition both rely on critical minerals from Beijing

The EU must stop thinking it can turn thorny political controversies into solvable technical issues

Also in today’s newsletter, Keurig Dr Pepper agrees €16bn coffee deal and private equity groups struggle to raise money

Also in this newsletter: The EU’s carbon border tax windfall

Jay Powell set the stage for a reduction in borrowing costs but jobs and inflation reports could get in the way

The Fed chair has left it for his successor to address key issues facing the world’s most influential central bank

US tariffs have exacerbated a slowdown in Guangdong, a region crucial to Beijing

South-east Asian economies rethink their trade in the wake of Trump’s tariffs

Plus, second-quarter earnings season wraps up, Germany’s Merz meets Canada’s Carney, US PCE index runs hot

Jay Powell’s Jackson Hole speech is a prelude to much bigger changes coming at the central bank

Market Questions is the FT’s guide to the week ahead

History suggests the political approach ends in unsustainable debt and lower GDP

Piecemeal approach leaves seafood and produce sectors fighting to win individual carve-outs