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Pentagon rejects F-35 deliveries after finding Chinese alloys inside

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The U.S. has stopped accepting F-35 fighter jets after finding a magnet made of unauthorised Chinese material

The Pentagon is stopping the delivery of the F-35 fighter jets after finding the materials inside one of the jet’s magnets were made in China.

The F-35’s manufacturer, Lockheed Martin raised the alarm about one component inside the engine, which offers power to the jet’s engine-mounted generator.

The Chinese-made part goes against U.S. defence protocols.

While the alloy used in the integrated power package doesn’t pose a security threat, the U.S. has already found a new source of materials.

The F-35 is one of the most advanced jets on the planet, and the U.S. has hundreds of these across its Air Force, Navy and Marine Corps.

An investigation is underway into the matter.

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ASEAN emerging as new global economic power?

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As global supply chains adapt to the pandemic and heightened US-China tensions, attention shifts to ASEAN’s emerging economies.

Could Vietnam and Indonesia lead ASEAN into becoming a third economic powerhouse alongside China and India? Professor Tim Harcourt of UTS and The Airport Economist on Ticker weighs in.

While debates on ‘deglobalisation’ persist, the question arises: is production truly shifting or merely realigning? Geopolitical uncertainties prompt businesses to diversify their supply chains away from China, a move influenced by both politics and economics. Taiwan, Vietnam, and Indonesia emerge as preferred destinations due to their strategic advantages and growing economies.

Australia’s recent Australian ASEAN Summit highlights the potential gains from closer ASEAN ties, given its vast population of over 640 million. What collaborative opportunities lie ahead?

Professor Harcourt’s upcoming Airport Economist ASEAN series on Ticker promises deeper insights into ASEAN’s economic landscape, revealing its potential as a significant global player.

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Investors assess geopolitical risks amidst tensions

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Amidst a backdrop of geopolitical easing, investors are reassessing their risk strategies to navigate a more tranquil global landscape.

This shift coincides with markets recalibrating expectations around potential rate cuts, resulting in a downturn in stocks.

In the tech sector, all eyes are on US earnings reports this week, particularly those of industry giants whose performance often sets the tone for market sentiment.

Additionally, anticipation mounts ahead of the release of Australian CPI data, scheduled for Wednesday, which promises insights into economic health and potential monetary policy implications.

These developments underscore the need for investors to remain vigilant and adaptable in response to evolving geopolitical and economic dynamics.

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Building the financial foundations for every decade

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Navigating financial milestones: strategies for success in your 20s, 30s, and beyond

Your 20s mark the beginning of your financial journey, and building sustainable cash flow habits is paramount. Start by tackling high-interest debts like credit cards and Afterpay systematically. Allocate at least 10% of your income to savings and automate it into high-interest investments. Be intentional with your budget, understanding how each expense serves you.

As you transition into your 30s, family and homeownership become significant commitments. Approach these decisions thoughtfully, considering affordability and lifestyle implications. Develop a strategy to pay off your home loan swiftly, regularly reviewing your interest rate and payment options.

In your 40s, focus shifts to superannuation, maximising concessional contributions for tax efficiency. Ensure your investments are managed by reputable professionals with the right asset allocation. Invest in properties with strong cash flow and growth potential to secure your financial future.

Each stage of life presents unique financial opportunities and challenges.

By following these guidelines, you can lay a solid foundation for wealth creation and security throughout your lifetime.

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