2026, day 227 Good morning from Asia. ‘Iranian Attacks Push Hormuz Shipping Toward Tehran-Controlled Route’ (gCaptain); ‘The Iran War Is Now About Who Blinks First Under Economic Pressure’ (WSJ) - “Trump doubles down on sanctions and a blockade while Tehran bets high oil prices will force Washington to relent”; ‘Trump says he’ll hit Iran hard economically, will soon declare Hormuz ‘US territory’’ (ToI) - “US president urges Americans to accept slightly higher gas prices for the ‘great service’ of preventing Iran from obtaining nuclear bomb, dismisses concerns about conditions aboard aircraft carrier”; ‘US Readies Iran Penalties as Trump Downplays Midterms Impact’ (BBG); ‘Bessent’s Iran Threats Face China Constraint’ (BBG); ‘Two slicks appear in Gulf as huge oil spill off Oman threatens disaster’ (Reuters); ‘‘Everything will stop’ if Hezbollah gives up weapons, US envoy to Beirut says’ (Al Arabiya); ‘The price of dissent: Hezbollah’s grip on Lebanon’s Shiites’ (Ynet); ‘‘Completely unacceptable’: UK condemns Netanyahu for calling Britain an ‘Islamic republic’’ (ToI); ‘Zelenskyy calls for more sanctions on Russian defence supply chains’ (Euractiv); ‘Russia admits new petrol shortages amid ongoing long-range Ukrainian strikes’ (Euronews); ‘Patriot makers hedge on Ukraine production deal as officials question cause of hold-up’ (Defense News); ‘Pentagon inks deals with Boeing, RTX to boost production of SM-3 components’ (Defense News); ‘EU leaders are on holiday. The crises affecting the bloc aren’t.’ (Politico); ‘South Korea's Lee urges talks with North Korea to replace armistice with peace’ (Reuters); ‘Japan defence minister visits contentious Yasukuni Shrine to war dead’ (Reuters); ‘Taiwan passes annual budget after long delay, including drone spending’ (Reuters); ‘Colby: Silence on Chinese aggression is a new strategy based on war fears’ (WT); ‘Chinese magnetic sensor breakthrough may help smartwatch detect submarine 500 metres deep’ (SCMP); ‘The US’ future policymakers are questioning the standard ‘China threat’ playbook’ (SCMP); In geoeconomics, ‘GSA finds China-made tech labeled ‘Made in USA’ in federal procurement program, orders sweeping review’ (Fox); ‘U.S. Urges Apple Not to Buy Chinese Memory Chips’ (WSJ) - “Commerce Secretary Lutnick urges iPhone maker to find other solutions to AI-driven chip supply crunch”; ‘US to tell partners they must pick sides in AI race with China’ (Reuters); ‘China’s 20,000-Mile Solar Trade Route That Battled US Tariffs’ (BBG); ‘China Is Opening the First Regular Cargo Route Through the Arctic’ (WSj); ‘Open-weight Chinese AI models gain foothold in Europe despite Brussels’ trepidation’ (SCMP); ‘Data center backlash echoes fossil fuel politics’ (Axios); ‘Trump's tariffs unevenly reshape American manufacturing’ (Nikkei Asia) - “Activity has risen, but trade policies fail to bring jobs back to sector”; ‘Supertanker Pays Record $4.6 Million to Skip Panama Canal Line’ (BBG); ‘Property downturns rarely last. This one could be different’ (AFR); ‘Think house price falls are bad? The next shock could be far worse’ (AFR) - “Plunging property values have seized the national conversation, but Australia’s economic problems run much deeper – as households are sadly about to learn”; In politics, ‘France’s top court blocks social media ban for under-15s’ (Reuters); ‘Standards watchdog resumes Farage probe as rivals slam needless byelection’ (Guardian); ‘China keeps careful watch on mourning for late premier Zhu Rongji’ (FT); ‘Lula holds slim lead over Flavio Bolsonaro ahead of Brazil election’ (AJ); ‘BBC lawsuit: Channel plans to subpoena Trump family members’ (The Hill); ‘How Much Socialism Is America Willing to Swallow?’ (BBG); In markets, ‘Hanwha, Fincantieri Shares Rise as Trump Opens Navy Shipbuilding to Foreign Yards’ (Reuters); ‘OpenAI upheaval mounts as Sam Altman readies IPO push’ (FT); ‘DOJ, CFTC Investigating Iron Ore Trader Radiant World’s Deals’ (BBG)