Ishiba served cold

Japan, South Korea, the US, Ukraine, Russia, Israel, Palestine, and Argentina.

Revenge of Ghosts, Utagawa Kuniyoshi, c. 1849, ukiyo-e woodblock print, private collection.

Hello,

Here are the five things you need to know today:

• JAPAN. A new prime minister will face old problems.

• SOUTH KOREA. UNITED STATES. A crackdown that looks like a shakedown.

• UKRAINE. RUSSIA. Putin acts with impunity as the West dithers.

• ISRAEL. PALESTINE. Threats and destruction won’t win a quick peace.

• ARGENTINA. The president’s party is routed by the Peronists.

And don’t forget to connect with me on LinkedIn.

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JAPAN. Giving up the ghost

A new prime minister will face old problems.

The yen fell Monday after Prime Minister Shigeru Ishiba resigned ahead of a party conference where he was expected to be sacked. Tokyo denied Donald Trump had full discretion over how a $550 billion investment pledge would be spent.

INTELLIGENCE. Despite seeing the ruling Liberal Democratic Party lose its majority in both houses, Ishiba had vowed to stay on to lead Japan's trade negotiations with the US. That job still appears a work in progress. Howard Lutnick claimed Friday that Trump could "make capital calls to the Japanese" for new projects, such as a gas pipeline in Alaska. Japan's chief negotiator, Ryosei Akazawa, claimed Saturday that this and other issues were still not settled.

FOR BUSINESS. Washington has hinted new tariffs could compel Japan to limited partner status in America Inc. This, at least, will no longer be Ishiba’s concern, once a successor is chosen by the party, then parliament. Likely contenders include hardliner Sanae Takaichi, youthful dynast Shinjiro Koizumi, and party insider Yoshimasa Hayashi. Should the upper and lower houses pick different candidates, as happened in 2008, there will be calls for another election.

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SOUTH KOREA. UNITED STATES. Hyundai gets it

A crackdown that looks like a shakedown.

Donald Trump said foreign investors needed to hire US workers after a Hyundai EV plant in Georgia was raided. Seoul arranged a charter flight to bring home around 300 South Korean workers who had been detained by immigration agents.

INTELLIGENCE. The incident is being seen in Washington as another ICE raid. In