Oil jumps 13 percent as Israel strikes Iran, rattling investors
Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016. REUTERS
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Convinced that his vision for the future of artificial intelligence was superior to that of OpenAI head Sam Altman and former Google chief executive Larry Page, Elon Musk cut ties with Page and parted ways with OpenAI, which he helped found in 2015. That same decisive belief in himself has famously spilled into politics. After spending nearly US$300 million in Donald Trump's 2024 campaign and working unofficially in the White House for months, Musk clashed publicly with the US president over a spending bill, which he called a ' disgusting abomination '. In the heat of the dispute, he floated the idea earlier this month of forming a third party to fix what he sees as a broken electoral system. 'Is it time to create a new political party in America that actually represents the 80% in the middle?,' he asked his 230 million followers on X, the social media platform he owns. Around 80 per cent of respondents voted yes. Musk reacted by sharing a potential name: 'the American Party'. But does the tech titan really have a future in politics? In a 2023 biography by Walter Isaacson, Musk himself admitted that he had a 'habit of biting off more than I can chew'. His younger brother Kimbal, who sits on the boards of Tesla and SpaceX, both Musk companies, described his sibling as a 'drama magnet'. A leader in industries capable of determining a nation's future economic success, Musk in the past year seemed determined to inject drama into politics, both in the US and abroad.
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Malaysia keeps anti-dumping duties on some Chinese, Japanese iron, steel
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'It's an ill wind that blows nobody any good,' to quote a centuries-old proverb. It is one that could be applied now with justification to the ill winds sweeping across the Pacific from US President Donald Trump's America to Asia. These disruptive currents are creating geopolitical turbulence, economic disruption and financial instability. However, the opportunity they present for Asia to challenge the post-war economic order and reshape its own destiny has received less attention. Among the more glaring examples of the United States leaning heavily on Asian leaders to abandon domestic initiatives was its strong opposition to the East Asia Economic Caucus , which was proposed as early as 1990 by then Malaysian Prime Minister Mahathir Mohamad. In 1991, former South Korean prime minister Nam Duck-woo proposed the establishment of a Northeast Asia Development Bank during a lecture in Tianjin. Like Sakakibara's proposed Asian monetary fund, such a development bank would have given East Asia considerably greater control over its own economic development and destiny than the region enjoyed at the time, but it was not in line with the US vision for the Asia-Pacific.
