Antony Blinken requires Palestinian Authority to run Gaza and West Financial institution after Israel-Hamas warfare

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Good morning. US secretary of state Antony Blinken has supplied Washington’s most detailed plan for the postwar way forward for Gaza, saying the enclave ought to be politically unified with the West Financial institution beneath the administration of the Palestinian Authority.

The US’s prime diplomat reiterated the Biden administration’s place that Israel shouldn’t reoccupy Gaza after its warfare with Hamas, however left open the chance that the Jewish state might play a job in a “transition interval”.

“It should embrace Palestinian-led governance and Gaza unified with the West Financial institution beneath the Palestinian Authority,” Blinken mentioned after a gathering of G7 international ministers in Japan yesterday.

Israel has vowed to eradicate Hamas, which has managed Gaza since 2007 after it fought rival Palestinian faction Fatah within the strip.

The PA, which is dominated by Fatah, administers elements of the West Financial institution, however it’s weak and lacks credibility amongst many Palestinians. Arab officers have cautioned it’s unrealistic to count on the PA to simply transfer into Gaza and change Hamas — if Israel succeeds in defeating the Islamist group, which is deeply embedded in Palestinian society.

Learn extra on the G7 assembly in Tokyo and Blinken’s visits with Center East leaders this week. Plus, newest developments within the battle:

• Exodus: Hundreds of Palestinians fled northern Gaza on foot as Israeli troops battling Hamas militants moved into Gaza Metropolis.

• EU rebukes Turkey: The EU mentioned it was in “full disagreement” with Turkey’s stance on Hamas after President Recep Tayyip Erdoğan referred to the Palestinian militant group as a “liberation” motion.

Right here’s what else I’m maintaining tabs on at present:

• Chinese language economic system: China publishes shopper and producer worth information for October, which is more likely to present the nation falling again into deflation.

• Firms: SoftBank, Sony Group, Honda and Nissan are amongst these reporting.

5 extra prime tales

1. SoftBank was pressured to wire $1.5bn to Goldman Sachs and different lenders days earlier than WeWork filed for chapter. The price of one of many worst enterprise capital investments in historical past has continued to mount for the Japanese group, which has now dedicated greater than $16bn to WeWork since its preliminary funding in 2017.

2. The US will lend $553mn for the event of a container terminal in Sri Lanka operated by Indian tycoon Gautam Adani. The deal is an instance of how Washington and New Delhi are competing with Beijing for affect within the area — and the way they’re responding to a debt disaster in Sri Lanka.

3. Donald Trump’s daughter Ivanka has denied having any involvement in drafting monetary statements that allegedly overvalued the previous president’s enterprise empire. Right here’s what she mentioned on the witness stand yesterday within the $250mn civil fraud lawsuit.

• Extra US information: Joe Biden’s Democratic get together secured victories in a collection of US state and native elections, offering a lift for the president as he confronts declining approval rankings forward of a battle for re-election subsequent yr.

4. South Korean defence corporations worry a collection of multibillion-dollar arms offers to Poland are being put in danger by an anticipated change of presidency in Warsaw. Right here’s why Seoul is nervous offers price a complete of $13.7bn for tanks, howitzers and rockets might be cancelled.

5. Sanjeev Gupta’s Australian metal enterprise InfraBuild is providing to pay excessive rates of interest to regain entry to the bond market, in a deal that might assist unlock funds to repay a number of the metallic magnate’s collectors. Companies inside Gupta’s GFG Alliance have struggled to borrow cash for the reason that collapse of its foremost lender Greensill Capital.

Visible Story

Overdoses killed practically 110,000 People final yr. The drug that was by far most liable for these deaths was fentanyl, an artificial opioid that’s 50 occasions as potent as heroin. The US authorities has made makes an attempt to focus on the producer of the drug however, as the FT’s visible storytelling crew reveals, the drug’s provide chain that spans from China to Mexico may be very onerous to disrupt.

We’re additionally studying . . . 

Map of the day

The encirclement this week of Gaza Metropolis by Israeli forces is the most recent step of their mission to destroy Hamas. The marketing campaign will expose Israel’s troops to the perils of shut fight, whereas inserting Palestinians immediately within the crossfire between Hamas and the Israel Protection Forces.

Take a break from the information

“Not caring is the largest perk of center age — or so it might appear,” writes the FT’s Emma Jacobs. As she waits for the day when she’ll not give a rattling, Jacobs investigates whether or not this enlightened state actually does arrive for these of their mid-life.

Further contributions from Tee Zhuo and David Hindley