1. Trump’s “Tariff War” and the Global Defense of Multilateralism
On January 20, immediately upon taking office, Trump signed 46 executive orders, including a mandate to rescind 78 executive orders from the Biden administration under the banner of “America First.” In February, he pushed through unreasonable tariff impositions starting with Mexico, Canada, and China, while threatening the BRICS nations with a “100% tariff” should they attempt to replace the US dollar. The US tariff pressure, which began in earnest with the announcement of reciprocal tariffs against countries worldwide in April, reached agreements with ten nations after two deferments and was unilaterally implemented starting August 7. Countries such as China and those in Europe responded by imposing tariffs on US products, while nations like Japan and the ‘ROK’ followed a path of humiliating tariff negotiations with the US. Regarding the trade conflict between China and the US, The Economist reported that the US exposed its vulnerabilities in rare earths and soybeans during the tariff war with China, noting that President Xi Jinping thwarted the attempt to force China’s submission through tariffs. In May, the US Court of International Trade ruled that certain tariffs and reciprocal tariffs imposed by Trump—based on the International Emergency Economic Powers Act (IEEPA)—exceeded the authority granted to the President by the US Constitution and Congress, rendering them invalid; a final ruling from the Federal Supreme Court is expected early next year. Meanwhile, at the 17th BRICS Summit in July, participants agreed that Trump’s tariff policies threaten the global order and collectively decided to fully support a pilot “guarantee initiative” to reduce financing costs and promote investment within the New Development Bank (NDB), referred to as the “BRICS version of the World Bank.”
2. Worsening of the US Economic Crisis as a Result of Trump’s Policies
Analyses circulated suggesting that the US economy has shifted into a structure sustained by debt issuance, and as of October, the total US federal government debt surpassed $38 trillion. This marks the largest scale in US history and the largest in the world. The number of US companies that went bankrupt this year reached its highest level since the aftermath of the US-led global financial crisis. Bankruptcy filings were particularly prominent in industries such as manufacturing, construction, and transportation. Experts pointed to tariffs as the cause of these bankruptcies, noting that only high-tech industries, such as semiconductors, benefited from tariff exemptions. Within the US, public backlash has spread as the “gamble”—the massive investments secured through tariff pressure, the longest federal government shutdown in history, and hundreds of billions of dollars in AI investment—have heightened uncertainty in US industry; consequently, Trump’s approval ratings have declined consistently since the start of his second term. During the prolonged shutdown—which hinted at mass layoffs of Democrats—salaries and food assistance, was suspended across various sectors, including federal civil servants, the Department of War, and the Department of Agriculture.
3. Growing Warnings Over Bubbles in AI and Various Assets
As AI investment reached record levels this year, MarketWatch warned that AI investment has already reached 17 times the scale of the Dot-com bubble and four times that of the subprime mortgage bubble, arguing that an artificial boom created by distorted interest rates is misallocating capital across the entire economy. MacroStrategy Partnership, an independent research firm, diagnosed that distorted capital flows have spread beyond AI to real estate, NFTs, and venture capital at large. Some analyses even suggested that, unlike the Dot-com bubble of the 1990s, the collapse of the AI bubble could trigger a broader financial crisis. In the financial markets, controversies intensified regarding bubbles surrounding US stock and gold prices. In December, the Bank for International Settlements (BIS) released its quarterly report, noting that typical signs indicating bubbles are being observed in US stock and gold prices. The diagnosis states that gold and stocks have simultaneously entered an “explosive behavior zone” (a sign of a bubble) over the last few quarters—an occurrence seen for the first time in at least the past 50 years.
4. Deepening of the European Economic Crisis and NATO’s Defense Spending Increase to 5% of GDP
At the NATO Summit held in The Hague on June 24–25, the 32 member states agreed to increase defense spending to 5% of their GDP within 10 years. This policy emerged amidst Trump’s pressure to reconsider NATO’s collective defense obligations if the 5% demand was rejected, the prolongation of the war, and Macron’s mentions of a “nuclear umbrella.” Following this, the volatility in global long-term interest rates spread through the US and reached Europe in the second half of the year. NATO member states caused a deepening of fiscal deficits by consuming nearly half of their fiscal expenditures on defense. European nations opted to increase spending without expanding tax revenue, leading to a surge in government bond issuance. In particular, countries like France and Britain intensified market instability by driving up upward pressure on interest rates. In France, the possibility of national default was raised, the country saw its fifth prime minister resignation in two years, and public sentiment for Macron’s impeachment surged. Between September and October, large-scale strikes and protests against austerity and calling for taxes on the wealthy broke out across the country, including in Paris.
5. Takaichi’s “Self-Defense Forces Mobilization in a Taiwan Contingency” and Worsening China-Japan Relations
On November 7, Sanae Takaichi suggested the mobilization of the Self-Defense Forces (SDF) in the event of a Taiwan contingency, stating that an armed attack on Taiwan would likely constitute a “situation threatening Japan’s survival,” allowing Japan to exercise its right to collective self-defense. Following this, China issued daily statements condemning Takaichi. The Chinese Ministry of Foreign Affairs asserted that the Japanese Prime Minister’s remarks regarding Taiwan are an open challenge to the gains in World War 2 and the post-war international order, as well as a deliberate violation of the fundamental purposes and principles of the UN Charter, and urged Japan to fulfill its obligations as a defeated nation. Trump reportedly advised Takaichi not to provoke China regarding Taiwan’s sovereignty. However, in December, Trump signed the “Taiwan Assurance Implementation Act,” aimed at promoting stronger ties with Taiwan. China’s State Council and Ministry of Foreign Affairs protested, stating that this violates the “One China” principle and the three joint communiqués between China and the US, and reiterated that the Taiwan issue is a “red line” in China-US relations. Furthermore, China conducted its largest-ever show of force by deploying over 100 naval and coast guard vessels to waters stretching from the East China Sea through the South China Sea to the Pacific. During this time, Chinese fighter jets twice locked their radar onto Japanese Air Self-Defense Force jets in the airspace near Okinawa.
6. Armed Conflicts Across West Asia Amid US Intervention
On May 10, the armed conflict between India and Pakistan was temporarily settled amidst controversy over US “mediation.” India denied Trump’s claims of mediation, while public dissatisfaction grew within India regarding the silence of the Quad during the escalation of the bilateral dispute. In June, an armed clash between Iran and Israel—triggered by Israel’s invasion and US military strikes on nuclear facilities—ended after 12 days through a ceasefire proposal suggested by Trump. Khamenei remarked that Iran had triumphed over the US and Israel, noting that Israel had been nearly destroyed. Despite this, in September, Israel invaded Qatar—a mediator for the ceasefire—targeting Hamas headquarters. Qatar expressed outrage, labeling it “state terrorism,” and announced a provisional suspension of its role as a ceasefire mediator to the US. That same month, Trump and Netanyahu agreed on a 20-point “ceasefire plan” intended to drive Hamas out of the Gaza Strip and pressured Hamas to accept it. While a ceasefire was abruptly agreed upon in October, starting with the exchange of prisoners and detainees, Israel violated the agreement 875 times over the following two months, leading to a breakdown of the ceasefire.
7. Successive Conflicts in Asia and Africa and Western Intervention
In September, violent anti-government protests broke out in Nepal, leading to the Prime Minister’s resignation and the establishment of an interim government. With the support of the US CIA and major Western corporations, the Nepalese youth organization “Hami Nepal,” which led the protests, forced an abnormal and unprecedented online vote just three days after the resignation. They elected an interim prime minister amidst grave concerns over vote rigging and impossible tabulation. Immediately preceding the protest in Nepal, large-scale protests flared up in Indonesia, sparked by parliamentary privileges and excessive suppression of demonstrators, which were settled after the government withdrew certain policies. Analysts pointed out that the timing and methods of these protests mirrored those in Nepal, suggesting they followed a shared “playbook” for psychological warfare. Major foreign media outlets termed the successive collapse of regimes in South Asian nations like Nepal, Bangladesh, and Sri Lanka over the last three years as the “Asian Spring.” In December, in the West African nation of Benin, a military organization attempted to oust the fascist regime that had habitually rigged elections. In response, French forces stationed in Benin and ECOWAS (Economic Community of West African States) forces intervened, leading to armed clashes. Benin’s progressive camp condemned the military intervention and invasion, characterizing it as a war between popular, sovereignist forces and the imperialist aggressor forces of France and NATO.
8. War Crisis in the Caribbean and Pressure on Venezuela Under the Pretext of “Counter-Narcotics Operations”
The Trump administration intensified pressure for regime change against the Maduro government in Venezuela. Since September, under the guise of “counter-narcotics operations,” the US has deployed military assets, including nuclear capabilities, to the Caribbean. Between September and December, the US military targeted local fishermen’s vessels, falsely labeling them as “drug-laden ships,” and conducted 22 airstrikes, resulting in the massacre of at least 87 people. In November, the US Department of War and Trump hinted at expanding the scope of military operations across the Western Hemisphere and onto land. In response to the threat of US aggression, Venezuela activated its National Integrated Defense Command under the “Independencia 200” plan. For the first time, combined civil-military exercises were held, and 8 million militiamen rallied around Maduro, resolving to engage in an anti-US resistance struggle. The US further escalated sanctions by issuing flight advisories for Venezuelan airspace and illegally seizing Venezuelan oil tankers. Maduro condemned the imperialist attempts to seize Venezuela’s mineral and energy resources through war, stating that Venezuela does not stand alone in confronting the imperialist threat.
9. 80th Anniversary of China’s Victory Day Celebrations Reaffirm the Unitidy of DPRK–China–Russia
Ahead of the full-scale outbreak of World War 3, the leaders of the DPRK, China, and Russia appeared together for the first time in 66 years at the 80th Anniversary Commemoration of the Victory of the Chinese People’s War of Resistance Against Japanese Aggression and the World Anti-Fascist War, held in Beijing on September 3, powerfully imprinting the unity of the anti-imperialist camp on the global stage. In his address, President Xi Jinping emphasized that China will firmly safeguard China’s sovereignty, unity and territorial integrity. At the military parade, China unveiled for the first time the DF-61 intercontinental ballistic missile, capable of carrying a nuclear warhead and reaching beyond the continental United States, along with a range of other new and cutting-edge weapons systems. These new weapons have already been deployed for combat use and were developed using China’s indigenous technologies. At the DPRK–China summit, the two leaders declared that no matter how the international situation may change, the friendly sentiment between the DPRK and China will not change. At the China–Russia summit, President Vladimir Putin stated that Russia–China relations embody a high level of strategic character and have reached their highest point in history. He evaluated the mutual attendance of the two countries’ leaders at each other’s Victory Day commemorations as a firm determination to jointly uphold the truth of history and safeguard the fruits of the victory in World War 2.
10. Participation of the Korean People’s Army and the Liberation of Kursk
On April 26, more than eight months after the Ukraine’s invasion to Kursk, the complete liberation was achieved, and Russia and the DPRK officially confirmed the deployment of DPRK troops to Kursk in accordance with strategic coordination between the two countries. On the 27th, the Central Military Commission of the Workers’ Party of Korea, in a written statement sent to DPRK media outlets, assessed that: “In accordance with the order of the head of state, units of the Republic’s armed forces regarded the territory of Russia as their own homeland and, with a lofty will to defend and a spirit of self-sacrifice, demonstrated the firm alliance between the DPRK and Russia through actual combat actions involving sacrifices, recording legendary feats of arms.” On the 28th, President Putin stated that Units of the Korean People’s Army played an active role in the fight that brought the defeat of the neo-Nazi formations in full compliance with international law and in accordance with the letter and spirit of the Treaty on Comprehensive Strategic Partnership between the Russian Federation and the DPRK. Earlier, Chief of the Russian General Staff Valery Gerasimov, while reporting to President Putin on the victory of the Kursk liberation operation, highly praised the DPRK troops, noting that they not only demonstrated a high level of professional competence in the process of repelling the Ukrainian incursion showed high professionalism and displayed endurance, courage and heroism in combat.
Above are the top 10 world news of 2025 by “21st Century Minjok Ilbo (‘ROK’)”
