Our daily trip around the world

🇨🇳 Chinese state-sponsored hackers have infiltrated a wide range of critical infrastructure organizations in the US. Microsoft first reported the incident on Wednesday, alongside intelligence agencies from the “Five Eyes” nations including the US. The company warned that Beijing is likely pursuing the ability to disrupt critical communications between the US and the Asia Pacific region in the event of a future US-China crisis, such as an invasion of Taiwan. Microsoft also said a key target of the hackers was the US territory of Guam, which contains three military bases that would play an important strategic role should the US need to respond to any future Chinese military attack.

🇬🇧 Net migration to the UK hit an all-time high in 2022 (+606,000), per new data. Government officials said international students were the largest group who emigrated to the UK last year, with refugees from Ukraine, Hong Kong, and Afghanistan also making up a significant percentage. The UK’s ruling Conservative party, which has previously pledged to reduce net migration, this week announced a set of new rules preventing most international students from bringing family members with them to the country.

🇩🇪 Germany’s economy has entered a technical recession following a second straight quarter with negative GDP. The country’s statistics agency said the 0.3% decrease in GDP last quarter was largely due to a 1.2% decrease in household consumption, with high annual inflation – 8.7% in January and February – eroding consumers’ spending power in the world’s fourth-largest economy. Per the WSJ, Germany’s latest GDP numbers suggest the EU as a whole likely also entered a technical recession last quarter.