Semafor Flagship-The World Today

"Xi at the White House, AI chiefs' mixed messages, Netanyahu stands alone."

Views expressed in this World news roundup are those of the reporters and correspondents.  Accessed on 25 September 2026, 0146 UTC.

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

NEW YORK CITY  STOKE-ON-TRENT  BENGALURU September 25, 2026 Read on the web Flagship Sign up for our free email briefings→   The World Today Xi at the White House AI chiefs’ mixed messages Financial risks of AI boom Netanyahu stands alone Iran, US talk phased deal Russia’s shadow war threat Cocaine floods Europe China appeals to tourists UK’s beer ban debate India’s activewear boom ‘The thoughts of a unique scientist.’ ↓ 1 China’s Xi calls for ‘healthy’ competition Evan Vucci/Reuters China’s leader Xi Jinping called for “healthy” competition between Washington and Beijing in his historic White House visit Thursday, saying the countries shared the “responsibility to develop and manage AI for good.” US President Donald Trump said he prefers “​to leave [AI] exactly where it is,” reflecting his insistence that regulation would cede the technological advantage to Beijing. Analysts have criticized Washington’s proposed US-China AI hotline, but more expansive cooperation is hindered by mistrust: “China thinks the frontier labs are insincere,” a Carnegie Endowment expert told writer Derek Thompson. “They see [Anthropic CEO Dario Amodei] saying we should do everything to contain China but also that we must pace the frontier. China only heard the first part of that sentence.” Subscribe to Semafor China for more insights on the global realignment. → ↓ 2 Nvidia chief dismisses AI fears Carlos Barria/Reuters Nvidia CEO Jensen Huang dismissed fears over AI’s existential threats as a “distraction” that’s “not grounded on science,” as the heads of OpenAI and Anthropic warned the UN of AI’s risks to humanity. If labs insist their products can’t be controlled then “we have to shut the labs down,” Huang argued on The Ezra Klein Show, remarks that clashed with warnings from experts and tech leaders over the catastrophic consequences of mishandling AI. Critics charged Huang with failing to recognize the gravity of the moment; one called his comments “confused… [and] simplistic.” Huang, who said that Nvidia would double its chip sales next year, has emerged as one of the AI boom’s chief global boosters, aligning with US President Donald Trump. ↓ 3 AI buildout’s financing risks The AI buildout is on track to consume 3.6% of annual US GDP through 2032, or more than $10 trillion, and its complicated financing arrangements pose systemic risks, a new report said. Case in point: Oracle is seeking to delay lease payments on a New Mexico data center, part of the massive Trump administration-backed Stargate project. “Experts are debating the existential risks of AI, but the financial risks are already here,” Semafor’s Liz Hoffman wrote: In financial Jenga towers that hinge on construction schedules, a single element falling out of place can expose financial backers and insurers to losses that are “going to be dramatically higher than anyone is currently thinking about,” an insurance executive told Semafor. For more scoops and analysis from Wall Street, subscribe to Semafor Business. → ↓ 4 Netanyahu gives ‘campaign speech’ Mike Segar/Reuters Israeli Prime Minister Benjamin Netanyahu defended the Iran war and railed against Israel’s critics in a UN General Assembly speech Thursday that showcased the country’s growing isolation. Hundreds of diplomats filed out as Netanyahu approached the lectern from where leaders of France, Brazil, and the UK assailed Israel this week. Facing an uphill re-election, Netanyahu’s talking points were tailored to an Israeli audience “for his political survival,” an Atlantic Council expert said. The “campaign speech” may have worked had Netanyahu managed to secure meetings with major world leaders, including the US president, Israel’s former US ambassador said. Netanyahu also neglected to reach out to Abraham Accords partners, an expert noted, instead using the platform to criticize New York City’s mayor. ↓ 5 US, Iran explore phased deal Reuters US and Iranian negotiators are discussing a phased deal to reopen the Strait of Hormuz and lift Washington’s economic blockade, but diplomatic efforts will be challenged by both sides’ unwillingness to surrender leverage. An Iranian official told Reuters that one way out of the impasse, which has triggered a historic energy supply disruption, is to “solve the crisis in stages.” A deal would ease Tehran’s economic woes, and bring down record-high fuel prices in a political boost for US President Donald Trump. “The least bad option is a return to diplomacy,” two analysts argued in Foreign Affairs: A truce “will require painful concessions from both Washington and Riyadh,” but a sustained war will bring “a far more painful” economic disaster. For more on the war’s impacts in the Arabian Peninsula, subscribe to Semafor’s Gulf briefing. → ↓ 6 Denmark warns on Russia hybrid war Ints Kalnins/Reuters Denmark’s intelligence service warned Thursday that Russia would escalate its hybrid warfare campaign against the West in coming months, citing a “low but growing risk” of direct attack by Moscow. Denmark’s intel chief said the aim of such an attack is “not to take over the country, ​but to ⁠divide NATO” at a time of heightened friction between Europe and the US; Washington has downplayed the possibility of Russian attacks. Rising far-right parties in Europe have worried Ukraine supporters that the bloc’s support could be undermined from within: A Kremlin envoy and Germany’s AfD leadership have discussed restarting gas supplies, and French far-right leader Marine Le Pen said Thursday that Paris could “no longer provide financial assistance” to Kyiv. ↓ 7 Cocaine smugglers target Europe Cocaine smuggling to Europe has soared in recent years, with authorities there largely failing to halt trafficking despite repeated promises to step up efforts. Coca cultivation is at record highs, helping flood the globe with cheap cocaine. Much of that has gone to Europe — often smuggled in from Sierra Leone, where a Dutch kingpin runs a major operation — turning it into the world’s second largest market. Though authorities have vowed to crack down, huge quantities are still getting in, a problem partly explained by economics: A single three-ton shipment can yield retails sales worth $250 million, The Wall Street Journal reported, whereas Spain has allocated less than $230 million over the past 10 years to tackle criminal networks in the south. ↓ 8 Tencent’s payment app for tourists Tencent launched a new payments app targeting a surge of foreign tourists visiting China. Paying in China’s mostly cashless economy has become simpler in recent years, suggesting Tencent isn’t responding to a need as much as it is looking to capitalize on a wave of new foreign tourists. Visits by foreign nationals jumped 20% year-on-year in the first half of 2026, according to state figures, with Europeans in particular exploiting visa-free entry. Beijing’s latest five-year plan calls for China to become a “tourism powerhouse” to boost sluggish domestic spending; the sector could grow to 6.7% of GDP by 2030, according to Morgan Stanley. Still, China lags the US, receiving only half as many tourists, who spend about a third less. ↓ 9 Booze could return to UK soccer Angelika Warmuth/Reuters UK Prime Minister Andy Burnham called a 40-year ban on booze from the top tier of British soccer matches “discriminatory,” signaling the potential return of pints to stands. The 1985 ban was justified by the UK’s then-home secretary as necessary to eliminate a “major contributory factor in violent and disorderly behavior” plaguing English soccer’s hooligan era; the changes are credited with helping usher in a modern Premier League that stands as one of the UK’s foremost soft power assets. Addressing such quotidian issues is key to Burnham’s theory of his own appeal, The New Statesman wrote — that he’s an “ordinary bloke who likes normal things and normal people.” A Telegraph writer suggested preserving some alcohol-free zones as a compromise. ↓ 10 India sees activewear boom Anindito Mukherjee/Reuters Sportswear brands are targeting India’s increasingly fitness-conscious population. Public health is of growing concern in India, where more than 25% of the population is overweight and overall numbers of obese people trail only China and the US. But growing evidence suggests a significant number of Indians are increasingly engaging in physical activity: More than 65,000 people took part in the Mumbai Marathon in January and run clubs in major cities are becoming popular. Euromonitor projects 10% annual growth in the sportswear market, a faster rate than the overall fashion sector, according to Business of Fashion. Companies should exercise caution however: Prior expectations of a boom in GLP-1 sales have largely fallen flat. ↓ Flagging Sept. 25: Federal Reserve Bank of New York president John Williams and Bank of England governor Andrew Bailey speak at the Monetary Economics Conference in Oxford, UK. Pope Leo XIV meets with French Prime Minister Emmanuel Macron in Paris. China celebrates the Mid-Autumn Festival, a traditional annual harvest celebration. ↓ Semafor Recommends Natural Intelligence & the Logic of Consciousness, by Antonio Damasio. In what The Wall Street Journal described as a “very readable overview of the thoughts of a unique scientist who has made us rethink consciousness, cognition and self-awareness,” Damasio argues that reason and emotion are not contradictory — rather, this combination is what creates human consciousness. He applies this theory to various topics du jour, the most notable of which is his discussion of AI and its inability to experience true sentience. Buy Natural Intelligence & the Logic of Consciousness from your local bookstore. ↓ Semafor Spotlight The Scoop: The White House is backing away from its initial plan for an executive order that would give President Donald Trump greater influence over decision-making on National Institutes of Health grants. → 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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