Why Beijing still loves its five-year plans

US President Donald Trump urged his Ukrainian counterpart to accept Russia’s war terms during Friday’s volatile White House meeting, and five-year plans still have a place in Chinese politics despite massive changes to its economic system. Plus, global hedge funds are listing in Hong Kong again after an extended slowdown, and the battle for control of rare earth metals is turbocharging stock prices in this sector. Mentioned in this podcast:Trump urged Zelenskyy to accept Putin’s terms or be ‘destroyed’ by RussiaChina pushes high-tech in 5-year plan as US tensions riseWhy China still loves its five-year plansHedge funds return to Hong Kong listingsRare earths shares soar as US and China battle over export controlsSave 40% on a standard annual digital subscription: ft.com/briefingsale Today’s FT News Briefing was produced by Ethan Plotkin, Jess Smith, Sonja Hutson, and Marc Filippino. Our show was mixed by Kelly Garry. Additional help from Peter Barber. The FT’s acting co-head of audio is Topher Forhecz. The show’s theme music is by Metaphor Music.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.