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 Russia

China pushes high-tech in 5-year plan as US tensions rise

Why China still loves its five-year plans

Hedge funds return to Hong Kong listings

Rare earths shares soar as US and China battle over export controls

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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

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Why Beijing still loves its five-year plans

FT News Briefing