Latest news for 19 February 2026

CHINA

Halve it, please.

The IMF has called on China to focus on “transitioning to a consumption-led growth model“, warning it can’t rely on exports to drive growth in the future. The spicy recommendations include urging Beijing to halve its industrial subsidies. (WSJ $)

Comment: China wouldn’t ordinarily take IMF orders, though this statement seems both timed and framed to encourage what Beijing already says it wants: its current five-year-plan emphasises consumption, and we’re just weeks out from the annual National People’s Congress. But any real shift still seems distant given it means redistributing more resources (and thus power) from the state to households, and back-tracking on President Xi’s own philosophical opposition to the kind of safety net more consumption would demand.

SYRIA

US pullback.

The US will reportedly withdraw most of its ~1,000 troops from Syria over coming months, amid Damascus pledges to take the lead in countering ISIS, plus the halting integration of Kurdish-led forces the US long backed against ISIS. (BBC)

Comment: It’s a big story completely reshaping Syria, but is easily overshadowed by the massive US military buildup near Iran, with reports the US could be ready to strike as early as this Saturday, though Trump reportedly hasn’t yet made a final call. In breaking news, Poland is now urging its citizens to get out of Iran, warning the prospect of war is now “very, very real”.

CHINA

Nuclear test?

A senior US official has doubled down on previous allegations China conducted an underground low-yield nuclear test in 2020, reigniting an international debate. For its part, China denies the claims and is accusing the Trump administration of attempting to construct a pretext to restart US nuclear testing. (WP)

GERMANY

More spying!

Berlin is preparing to remove certain legal restraints on its foreign intelligence service to allow its spies more leeway in carrying out sabotage, cyber, and espionage operations. (Politico)

Comment: These restraints, a legacy of the post-WWII era, mean German spooks have had to watch while the Kremlin wages various forms of hybrid warfare on Germany and its neighbours. It seems Berlin now wants to hit back.

CANADA

Buy local.

PM Mark Carney has unveiled a new ~$5B defence procurement plan, aimed at modernising the armed forces while prioritising local firms. He’s emphasising the need never to be “hostage” to others when it comes to security. (GlobalNews)

Comment: While small, it’s a continued de-risking away from Canada’s wide-ranging reliance on the US. He’s aiming to ramp up the domestic share of defence procurement from 30% to 70%, a pretty ambitious goal.

PHILIPPINES

Friends to enemies.

Sara Duterte, daughter of former leader Rodrigo Duterte (of ICC fame) and now the country’s vice president, has announced she intends to run in the 2028 presidential election. (Guardian)

Comment: It’s another escalation in the bitter feud between the country’s two most powerful political dynasties (Marcos and Duterte). President Marcos Jr is termed out, but he’ll see Sara’s run as existential given the role his own administration played in handing her dad over to The Hague on accusations of crimes against humanity.

GABON

Socials ban.

Authorities in Gabon have indefinitely suspended social media platforms including TikTok and Facebook, blaming them for stoking divisions in society. We’re sure it all has nothing to do with ongoing anti-government labour strikes. (AfricaNews)