2026, day 234 Good morning from Asia. ‘Is America Still Capable of Enforcing the World Order?’ (WSJ); ‘Army Secretary eyes exit around end of year amid Hegseth tensions’ (The Hill); ‘US allies in Asia wary as Trump moves military assets for Iran war’ (AJ); ‘Trump insists South Korea pay more for its defence as tariff deadline looms: ‘It’s very unfair’’ (Independent); ‘S. Korea, US wrap up drills early, day after NK missile barrage’ (Korea Times); ‘Why Chinese foreign minister’s trip to South Korea ‘dealt a low blow’ to Seoul’ (SCMP) - “Seoul didn’t win Beijing support for its latest peace initiative”; ‘Iran threatens military response to US sanctions’ (Reuters);  ‘Trump says Iran not ready to make ‘right deal,’ boasts of ‘total control’ over Hormuz’ (ToI); ‘Iran, Oman discuss resuming talks, Strait of Hormuz navigation’ (Reuters); ‘NATO members discuss Strait of Hormuz options without alliance involvement’ (Reuters); ‘US, Kuwait agree to deepen military cooperation and integration, Pentagon says’ (Al Arabiya); ‘Bulgarian president faces pressure over response to Iran threat’ (Euractiv); ‘Treasury Increases Sanctions on Hizballah and Targets Network Smuggling Millions in Cash’; ‘Pakistani military says security forces killed 49 militants’ (AP); ‘India seeks role in France’s sixth-generation fighter program’ (Defense News); ‘Turkey issues ‘genocide’ warrant for Israel’s Netanyahu’ (AFP); ‘Israel PM calls Turkey’s Erdogan ‘antisemitic dictator’’ (AFP); ‘Israel's new Syria dilemma: Netanyahu's Russia playbook faces "Turkey test'’ (JPost); ‘US stresses opposition to Israeli West Bank annexation but avoids condemning E1 plan’ (ToI); ‘Ukraine and Israel are fighting different wars, but face the same dangerous reality’ (JPost); ‘Zelenskyy bets on special forces general to steady defense ministry’ (Politico); ‘Ukraine braces for combined salvos of up to 200 missiles as overnight attack kills 15 in Kyiv’ (Defense News); ‘Russian expert warns of impending social crisis as Ukraine death toll rises’ (AJ); ‘Smith says Alberta could have a binding referendum on secession in early 2027’ (Globe & Mail); In geoeconomics, ‘U.S. trade chief calls trying to change China's economy "crazy"’ (Axios) - “The world's ability to absorb China's excess production "is approaching a breaking point”; ‘US-Canada trade deal goes down to the wire’ (FT); ‘U.S.-Canada trade deal would introduce steel quota with lower 25% tariff, sources say’ (Globe & Mail); ‘Carney tried to 'out-tough' Trump in trade negotiations, Vance says’ (Globe & Mail); ‘Canadian tech experts warn that trade talks may concede sovereignty over digital policy’ (Globe & Mail); ‘Auto tariffs of 15% would erase profitabilty and spur industry's decline’ (Globe & Mail); ‘US-Canada Trade Draft Pressures Mexico to Match Terms’ (BBG); ‘US Oil Refiners Face Import Squeeze From Biggest Foreign Seller’ (BBG); ‘‘Betrayal’: US ranchers lash out at Donald Trump’s plan to cut tax on beef imports’ (FT); ‘China’s trade grip tightens in Europe as clock ticks towards October deadline’ (SCMP); ‘How Greek farmers milked EU funds from imaginary cows’ (Politico); ‘Sangdong mine eyes role in securing tungsten for chip industry’ (Korea Times); ‘Who bears environmental cost of push for rare earths beyond China?’ (Nikkei Asia) - “Australia aims for responsible approach, but cleaner production may mean higher prices”; In politics, ‘Democrats Are Gearing Up for a Wave of Investigations Into Trump & His Allies’ (WSJ); ‘US Postal Service issues rules to tighten mail-in voting if court gives OK’ (The Hill); In markets, ‘The bond scare and the balance of power’ (FT) - “After the dreamworld of the 2010s, the link between power and fiscal capacity is back”; ‘The Wild Week When Scott Bessent Was Schooled by the Bond Market’ (WSJ); ‘Bitcoin and gold surge as Bessent’s bond market intervention weighs on dollar’ (FT); ‘Reconsidering the role of money in monetary policy’ (Centralbanking);