Semafor Flagship-The World Today

"EU weighs Greenland threat, Courting CEOs in Davos, Chinese EVs in Canada."

Views expressed in this World and US news update are those of the reporters and correspondents.  Accessed on 20 January 2026, 0029 UTC.

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Russ Roberts (https://trendsingeopolitics.blogspot.com).

DAVOS  BEIJING  TOKYO January 20, 2026 Read on the web Flagship Sign up for our free email briefings→   The World Today EU weighs Greenland threat Courting CEOs in Davos Chinese EVs in Canada IMF raises growth outlook Japan calls snap election Russian, Chinese air ambitions Massive wealth transfer Shorter workweek in SK US ski resorts struggle Remembering Valentino Buddhism meets cyber aesthetics in Japan. ↓ 1 EU weighs response to Greenland threat Copenhagen protest. Ritzau Scanpix/Emil Helms/via Reuters European powers are debating how forcefully they should respond to US President Donald Trump’s threats to seize Greenland. Trump on Monday declined to say whether he would use force to take control of the Danish territory; his threat to impose tariffs on countries that stand in his way imperils decades of transatlantic ties and has many European governments believing “divorce… is now inevitable,” Politico EU wrote. Europe has a wide-ranging retaliatory arsenal — some German politicians floated boycotting the World Cup — which carries “real risk of a spiral,” the Economist’s defense editor noted. While France proposed a tough response to Trump’s tariff threats, Italy and Germany are keener on mediation to avoid escalation. Denmark is reportedly skipping Davos as tensions with Washington escalate. ↓ 2 US, China summon CEOs at Davos Denis Balibouse/Reuters The US and China are both courting global executives in Davos this week. US President Donald Trump, looming large at the World Economic Forum, plans to convene a group of CEOs Wednesday; Beijing’s economic czar, He Lifeng, is reportedly attending a similar confab. A recent US-China trade truce has given Western CEOs an opening to boost ties with the world’s second-largest economy, while Trump’s disruptive economic policies and his threats to seize Greenland allow Beijing to present itself as a stable alternative to Washington. US firms, meanwhile, are growing more confident about their China earnings this year, a new survey showed, though China’s domestic economic slowdown topped the list of business concerns for the first time. Sign up for Semafor’s pop-up Davos briefing for more big ideas from the global village. → ↓ 3 A boost for China-made EVs Joa Souza/Reuters Tesla and Volvo are poised to be early winners of Canada’s move to allow thousands of made-in-China EVs to enter the country at low tariff rates, analysts said. Those companies already hold North American certification, but a host of Chinese firms will look to follow closely. The rush for the Canadian market follows a landmark trade deal between Ottawa and Beijing that rankled Canadian auto executives. Chinese automakers are also eyeing a win in Europe, as Brussels considers replacing its EV tariffs with a minimum price system. Some analysts predict 2026 could be a watershed year for China’s EV makers, reflecting how Beijing’s “centralized industrial policy… has upended traditional notions about how innovation works,” Semafor’s Andy Browne wrote. Subscribe to Semafor’s forthcoming China briefing for more on how Beijing is driving a global realignment.  → ↓ 4 IMF lifts global growth outlook A resilient world economy will endure US President Donald Trump’s shocks to the global trading system this year thanks to the AI investment boom, the IMF forecast Monday. “The global economy is… coming out ahead of what we were expecting” before “Liberation Day,” the IMF’s chief economist said. Even as the organization raised its GDP growth estimates, it warned that risks are “tilted to the downside”: Growth is reliant on a narrow range of sectors, and a bursting AI bubble could destroy the gains of the last year. The IMF is also watching how the US Supreme Court rules on Trump’s tariff salvo, a decision that could come this week and threatens to inject more uncertainty into global commerce. ↓ 5 Japan’s PM calls snap election Rodrigo Reyes Marin/Pool via Reuters Japan’s prime minister called a Feb. 8 snap election in a bid to convert her soaring approval ratings into a firmer grip on power. Sanae Takaichi, who took office just three months ago, is caught in a ballooning row with China over her comments about Taiwan, and a stronger parliamentary majority could bolster her negotiating position with Beijing. Takaichi also wants to pursue more stimulus, a promise that has sent Japanese stocks and long-term government bond yields soaring. But predictions of a fiscal spending boom may be overblown: One economist warned Takaichi’s plan to loosen fiscal policy is “moving in a dangerous trajectory,” and top party allies may rein in her spending ambitions, The Japan Times wrote. ↓ 6 China, Russia air force threat rises Tingshu Wang/Reuters Russian and Chinese air forces represent a more significant danger to the West than five years ago, British researchers said. The Chinese People’s Liberation Army Air Force has seen “astonishing growth” in its air power capabilities and now has more than 300 J-20 fifth-generation fighters, up from fewer than 50 in 2020, a Royal United Services report found. And while Russia has suffered heavy aircraft losses in Ukraine, they have been exceeded by new production. Russia’s fighter pilots previously had relatively few flying hours, by NATO standards, but after three years of war the cadre of experienced crew has grown, especially as most shot-down pilots ejected safely. Both nations, but especially China, “pose greater threats to Western air power” than previously. ↓ 7 Gen X, millennials set for $38T windfall The largest generational wealth transfer in history is underway. Roughly 1.2 million individuals are set to pass down more than $38 trillion to their Gen X and millennial descendants in the next decade, some $17 trillion of that in the US, data reviewed by The Wall Street Journal showed. “Centimillionaires” — those worth more than $100 million — account for roughly 43% of the US figure, leading a boutique industry to spring up to meet their needs. One group offers instructional classes for inheritors, citing the potential for great wealth to “kill” ambition and “corrode” character. Much inheritance may go to funding elder care, however: The proportion of the US population aged over 85 is expected to triple by 2050. ↓ Semafor World Economy David McKay, President & CEO, Royal Bank of Canada, is joining the Semafor World Economy Global Advisory Board — a forum of visionary business leaders guiding the largest gathering of global CEOs in the US. The expanded board represents nearly every sector across the US and G20. Joining the Advisory Board at this year’s convening will be our inaugural cohort of Semafor World Economy Principals — an editorially curated community of innovators, policymakers, and changemakers shaping the new world economy with front-row access to Semafor’s world-class journalism, meaningful opportunities for dialogue, and touchpoints designed for connection-building. Applications are now open here. ↓ 8 SK banks shorten workweek, barely Kim Soo-hyeon/Reuters South Korea’s biggest banks are now a test case for the government’s push to shorten the workweek. Several lenders in the country, which is considered one of the world’s most overworked, are shutting off computers one hour earlier than normal on Fridays; the government hopes to expand that into a nationwide 4.5-day workweek. It’s one of several experiments around the globe toying with the idea of lighter work schedules. A study last year involving 141 companies in the English-speaking world found a four-day week made employees happier and healthier, but it didn’t measure company-wide productivity. Tokyo’s government has given its employees a four-day week, in part to help turn around the country’s flagging birth rate. ↓ 9 Poor snowfall, tourism hits US ski resorts Declining snowfall and international tourist arrivals have slashed annual takings at the US’ ski resorts. Snowfall in the Rocky Mountain range, home to the upscale ski towns of Vail and Aspen, has been 50% below the 30-year average; Vail Resorts said visits were down 20% this winter. The resorts’ outlook has been further darkened by a Canadian boycott sparked by President Donald Trump’s threat to make Canada the “51st state.” A December Congressional report showed the number of vehicles crossing into the US from Canada between January and October dropped by nearly 20% compared with 2024, leading some border-state hoteliers to offer discounts specifically for Canadians. ↓ 10 Valentino, ‘the last emperor,’ dies Hannah McKay/Reuters Valentino Garavani, the legendary fashion designer whose namesake label dressed the global jet set, died Monday aged 93. Considered fashion’s “last emperor,” the couturier carried a “distinctly imperial gloss” and became an icon of eveningwear through his signature poppy red and penchant for details like bows, ruffles, and lace, Business of Fashion wrote. “I love beauty. It’s not my fault,” he said in a 2008 documentary. Valentino’s clientele carried a remarkable range, including political figures (Jacqueline Kennedy Onassis), European royalty (Princess Diana), and Hollywood stars (Julia Roberts). The brand has been in the hands of Alessandro Michele since 2024, one of several European fashion houses with new top designers, part of a broader effort to reinvigorate the luxury industry. ↓ Flagging Jan. 20: Netflix and 3M issue fourth-quarter earnings reports. Japan restarts a nuclear reactor shuttered following the country’s 2011 earthquake. US President Donald Trump marks one year since his return to the White House. ↓ Curio Cyber NamuNamu/YouTube A popular Japanese performing arts group is blending Buddhist chants with cyber aesthetics and electronic music. “Cyber NamuNamu exists somewhere between the realms of religious ritual and the club,” The Japan Times wrote. A typical performance features two Buddhist priestesses chanting, or playing the saxophone, in front of a video-display backdrop of golden Buddhas floating above a neon, virtual Tokyo. Cyber NamuNamu’s founder — who believes Buddhist doctrines can aid with disorientation stemming from rapid tech advances — said he “cannot say for certain” why their particular combination of ritual and rhythm helped to relieve heavy negative emotions that he had carried for years, inspiring him to share the act with others. “What I do know is that I clearly felt better.” ↓ Semafor Spotlight Andy’s View: China’s ultra-luxury EV is the latest sign of how Beijing has toppled the notion that only free minds in open societies can truly innovate. → You’re receiving this email because you signed up for briefings from Semafor. Manage your preferences or unsubscribe here. Read our privacy policy. Was this email forwarded to you? Sign up now to get Semafor in your inbox. 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