Taiwan’s Cabinet says it must cut subsidies for local governments by 25% in the face of national budget cuts pushed by opposition legislators. TSMC says it will open a new R&D center in Munich as part of its expansion in Germany. Taiwan is trying to break China’s dominance over the drone market, but can it? Plus:
-Former Taipei Mayor Ko Wen-je will spend another two months in custody awaiting trial for corruption charges.
-Four Chinese boats sailed into restricted waters around Taiwan’s outlying Kinmen Islands.
-ASEAN held its annual summit as its members look to the Middle East and China for economic partnerships amid U.S. tariff threats.
