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- US launches new strikes on Iran, targeting missile sites and naval forces
- Taiwan’s economy grows significantly due to AI, but benefits are unevenly shared
- Biden files lawsuit against Justice Department to halt release of audio files
- Knife robberies decline in hotspot areas as policing efforts intensify
- Drones crash near crowds during light show at Sydney Harbour, prompting cancellations
- Asia can improve digital infrastructure investment to close access gaps
- Group of women and children with alleged ISIL links arrives in Australia
- Frank Lampard awarded LMA manager of the year after guiding Coventry to Premier League
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US launches new strikes on Iran, targeting missile sites and naval forces
9:01 am
US launches new strikes on Iran, targeting missile sites and naval forces
Rising tensions between the United States and Iran have escalated following new airstrikes by the US targeting Iranian missile sites. This action comes amidst accusations from Iran that the US has violated ceasefire agreements during ongoing back-channel negotiations. Iran’s leadership has expressed “deep suspicion” towards the US as they weigh prospects for peace negotiations, signalling a volatile climate as both sides navigate the complexities of diplomatic relations. For further insights into this geopolitical flashpoint, visit our global news coverage.
Economically, these developments could severely impact oil markets, with analysts predicting potential disruptions stemming from renewed conflict in the Gulf region. Investors are eyeing the situation closely, as rising oil prices could exacerbate inflationary pressures globally. Market watchers will be looking for any significant shifts in diplomatic discussions following the anticipated release of further surveillance data on regional military activities this week.
Key developments across the world
Iran accuses US of ‘flagrant’ ceasefire violations as back-channel talks continue
GLOBAL SECURITY — Iran has accused the US of violating ceasefire agreements amidst ongoing back-channel negotiations. Despite escalating tensions, Iran is reportedly still engaged in peace talks aimed at ending conflict in the region.
The Iranian government claims the US has conducted bombings against its positions, which they describe as a breach of trust, complicating more extensive negotiations for peace. This accusation follows recent US military strikes targeting Iranian missile sites and other assets.
US launches new strikes on Iran, targeting missile sites and boats
GLOBAL SECURITY — The US has launched strikes against Iranian military sites, exacerbating tensions between the two nations. These military actions aim to deter further Iranian aggression but risk igniting a more extensive conflict.
This development follows accusations from Iran regarding US violations of ceasefire agreements, highlighting the potential for further escalations in military engagement. The ongoing hostilities could disrupt the fragile peace talks reportedly taking place behind the scenes.
Iran remains in peace talks despite ‘bad faith’ US bombings of Iranian targets
DIPLOMACY — Iran continues its peace negotiations despite ongoing US military actions that it views as undermining the talks. Iranian officials express distrust towards the US but remain open to dialogue aimed at resolving the conflict.
One killed and nine missing after chemical explosion at US paper mill
GLOBAL BUSINESS — A chemical explosion at a paper mill in the US has resulted in one death and nine individuals reported missing. The incident highlights ongoing safety concerns within the manufacturing sector.
One person killed and at least nine injured in implosion at Washington state packaging plant
GLOBAL BUSINESS — An implosion at a packaging plant in Washington state has resulted in one fatality and numerous injuries. The event underscores the risks faced by employees in industrial settings.
What to watch — Monitor the evolving situation between the US and Iran as negotiations and military actions continue to unfold.
Further reading from global news sources
Financial Times
Iran accuses US of ‘flagrant’ ceasefire violations as back-channel talks continue
BBC News
US launches new strikes on Iran, targeting missile sites and boats
Al Jazeera
‘Deep suspicion’ of US lingers as Iran ponders agreement to end war
The Guardian
Iran remains in peace talks despite ‘bad faith’ US bombings of Iranian targets
The New York Times
High-Level British Spy Warns of Expanding Russia Threat
Taiwan’s economy grows significantly due to AI, but benefits are unevenly shared
8:00 am
Get you up to speed: Taiwan’s economy is booming thanks to AI. Not everyone sees the benefits
Taiwan’s economy is experiencing significant growth, with a GDP increase of 13.69 percent in the first quarter of 2026, largely driven by semiconductor exports. The Taiwan Semiconductor Manufacturing Company (TSMC) plays a crucial role in this expansion, accounting for over 20 percent of the country’s GDP and more than 40 percent of the value of its stock market.
Taiwan’s GDP growth reached 13.69 percent in the first quarter of 2026, contributing to a total export surge of 34.9 percent in the previous year. Despite this economic upswing, only about 300,000 individuals are employed in the semiconductor sector out of a total workforce of 11 million, highlighting a growing disparity in job distribution.
Taiwan’s Central Bank Governor Yang Chin-lung has warned of an emerging “K-shaped economy,” highlighting the disparity in growth between the semiconductor sector and other industries. Meanwhile, a recent survey found that 40 percent of Taiwanese voters expressed financial anxiety, primarily due to rising living costs, particularly housing.
What remains unclear — It is uncertain how policymakers plan to address the growing wealth inequality as Taiwan’s economy transitions towards a tech-centric model.
Taiwan’s economy grows significantly due to AI, but benefits are unevenly shared
News|Business and EconomyTaiwan’s economy is booming thanks to AI. Not everyone sees the benefits
Taiwan is experiencing explosive GDP growth due to chip exports, but some Taiwanese feel left out.
People stand on the street as they shop for food at Nanjichang Night Market in Taipei, Taiwan, May 17, 2026 [Ann Wang/Reuters]
Taipei, Taiwan – For Li, an engineer at Taiwanese computer giant ASUS, the AI boom sweeping Taiwan has made it an exciting time to work in tech.
Taiwan is a semiconductor powerhouse, producing about 90 percent of the most advanced chips used to power leading AI models such as ChatGPT and Claude.
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“I’ve felt Taiwan’s tech and computer industry becoming more vibrant,” Li, who asked not to be identified by his real name, told WTX News, pointing to events such as the upcoming Computex tech and AI expo running from June 2 to 6.
Still, Li worries that the spoils of Taiwan’s AI windfall are not being shared equally.
“Most industries unrelated to tech don’t seem to be feeling the benefits, so it doesn’t feel evenly distributed at the moment,” Li said, explaining that many of his former classmates working outside of tech do not appear to be doing as well.
“It’s mainly the industries at the front of this tech wave that are benefitting.”
Taiwan’s economy is growing at a pace that would be the envy of any country.
Gross domestic product (GDP) rose 8.63 percent in 2025, followed by a heady 13.69 percent expansion in the first three months of this year.
Students dressed in white protective suits and face masks visit a clean room as part of a summer camp organised by US chip designer Synopsys with the goal of attracting more youth to Taiwan’s semiconductor industry, in Hsinchu, on July 18, 2025 [Ann Wang/Reuters]
Exports surged 34.9 percent last year to $640.7bn, with more than two-thirds of the total being tech-related goods and services.
Semiconductors alone account for more than 20 percent of Taiwan’s GDP, according to US trade data, with the vast majority of production handled by Taiwan Semiconductor Manufacturing Company (TSMC), whose top customers include Nvidia and Apple.
TSMC by itself accounts for more than 40 percent of the value of the island’s stock market.
While impressive, the rapid economic expansion has raised concerns about being overreliant on the growth of AI.
Taiwan’s Central Bank Governor Yang Chin-lung has sounded the alarm about an emerging “K-shaped economy,” where certain sectors grow rapidly while others fall into stagnation.
While critical to Taiwan’s economy, the semiconductor industry is far from the largest source of jobs.
The sector employs only about 300,000 people in a workforce of 11 million, according to data compiled by Dachrahn Wu, director of National Central University’s Research Center for Taiwan Economic Development.
The broader electronics and IT manufacturing industry employs about one million people, compared with about seven million working in the service sector, according to Wu’s data.
The heavy reliance on a single industry for growth marks a shift from the Asian Tiger era of the 1960s to 90s, when Taiwan’s economy was driven by hundreds of thousands of small and medium-sized enterprises (SMEs), according to James Lin, a historian who specialises in Taiwan’s post-war economic transformation.
“From the 1970s to 1990s, economic growth was concentrated in the hands of small and medium family enterprises that exemplified the ‘living room factory’ model, where family-owned businesses focused on producing one part for a consumer product,” Lin told WTX News.
“The benefits of this period were thus more widely distributed across Taiwanese society,” Lin said.
“By contrast, today, wealth inequality is growing in Taiwan as land is becoming more expensive and large corporations like TSMC attract the lion’s share of foreign capital investment rather than small corporations.”
Alicia Garcia Herrero, chief economist for Asia Pacific at French investment bank Natixis, said Taiwan’s economic model has left it at risk of becoming a “dual society” where tech sweeps up talent, funding and resources at the expense of other industries.
“It’s very hard if you’re not in [the semiconductor] sector in Taiwan right now,” Garcia Herrero told WTX News, pointing to low wages for workers in non-tech roles and rising costs for businesses.
Some of Taiwan’s challenges are out of its control, said Chao-Hsi Huang, associate dean at the Taipei School of Economics and a former director at Taiwan’s central bank.
Those challenges include US President Donald Trump’s tariffs, which have partially exempted semiconductors but hit exporters in non-tech industries.
“The traditional [manufacturing] sector suffers higher tariffs than other competing countries like Korea or Japan, or even Southeast Asian countries, due to the fact we are not able to sign free trade agreements,” Huang told WTX News.
“We are treated differently, and that’s a difficulty we are facing.”
Critics have placed other issues on the shoulders of the government, including a weak currency that has made exports more competitive but chipped away at consumers’ purchasing power.
Taiwan’s government denies engaging in currency manipulation, though it acknowledges intervening in the market to smooth out “volatility” when the new Taiwan dollar falls or rises sharply against other currencies.
After two decades of stagnation through the 2010s, wages are growing again – albeit unevenly.
Real average wages grew 1.4 percent in 2025, while median wages rose 1.35 percent, according to the Directorate-General of Budget, Accounting and Statistics (DGBAS).
Still, 70 percent of Taiwanese earned less than the average, a statistic attributable to the distorting effect of much higher salaries in the tech sector, where pay is nearly double the national average.
A miniature-sized wafer sorter machine model by Rorze on display at the Science Park Exploration Museum in Hsinchu, Taiwan, on February 6, 2023 [Ann Wang/Reuters]
For Taiwanese frustrated with stagnant pay, Taiwan’s soaring stock market has offered some consolation.
Riding the AI boom, the Taiwan Stock Exchange (TWSE) more than doubled in value between 2019 and 2025 to $2.2 trillion, according to HSBC.
Regulatory changes introduced in 2020 made it easier for small-time investors to buy single stocks, encouraging a rush of everyday Taiwanese into the market.
In January, the TWSE reported that the number of trading accounts had reached 13.77 million – equivalent to 60 percent of Taiwan’s population – while hailing the bourse as a “cornerstone for inclusive prosperity and shared growth”.
Though more equal than neighbours such as Singapore, Hong Kong and China, Taiwan’s wealth divide has grown over the decades.
In 1980, Taiwan had a Gini coefficient of 0.308 – a measurement of wealth distribution where 0 indicates perfect equality – putting it on par with contemporary Norway, according to the DGBAS.
By 2024, Taiwan’s Gini coefficient had grown to 0.341 – lower than many countries but still a significant rise.
“I feel that the benefits of economic growth haven’t been distributed evenly,” Ryan, an engineer in the local tech sector who asked not to be identified by his real name, told WTX News.
“Some industries or asset holders benefit significantly, but ordinary office workers often experience a rise in prices and housing costs, rather than an easier life,” he said.
Wei-ting Yen, an assistant research fellow at the research institution Academia Sinica, said while the semiconductor and stock market booms have helped some Taiwanese, they have heightened the angst of others.
In a survey of 1,195 Taiwanese voters carried out last month, 40 percent said their household was financially either “anxious” or “very anxious” due to rising living costs, particularly housing.
“I think subjectively, they’re anxious that they’re not accumulating wealth and it’s not enough to help them buy a house or an apartment,” Yen told WTX News.
“Housing prices have been going crazy worldwide, and the stock market has been going crazy, [but] for people who do not have extra money to invest in those two options, it creates even more frustration and anxiety around them,” she said.
Biden files lawsuit against Justice Department to halt release of audio files
7:00 am
Get you up to speed: Biden sues Justice Department to block release of audio files from biographer interviews
Former President Joe Biden has filed a lawsuit in U.S. District Court for the District of Columbia to block the release of approximately 70 hours of audio files and transcripts related to interviews with biographer Mark Zwonitzer. The suit seeks to prevent the Justice Department from sharing these materials with the House Judiciary Committee amid ongoing discussions about their availability under the Freedom of Information Act.
The lawsuit filed by Biden seeks to prevent the release of approximately 70 hours of audio files and transcripts to the House Judiciary Committee. Special counsel Robert Hur’s investigation included interviews with 147 individuals and concluded in February 2024, determining that there was insufficient evidence to pursue criminal charges against Biden.
Former President Joe Biden has filed a lawsuit in U.S. District Court for the District of Columbia to prevent the Justice Department from releasing approximately 70 hours of audio files and transcripts from interviews with biographer Mark Zwonitzer. The Justice Department indicated earlier this month that it plans to release these files to the House Judiciary Committee and the Heritage Foundation on June 15, unless a court ruling intervenes.
What remains unclear — It is unknown why the Justice Department plans to release the audio files and transcripts after previously refusing to do so.
Biden files lawsuit against Justice Department to halt release of audio files
Former President Joe Biden has filed a lawsuit against the Justice Department seeking to block the release of files related to interviews he conducted with a biographer that later became a central part of a special counsel investigation into his handling of classified documents.
Biden’s lawsuit filed Tuesday in U.S. District Court for the District of Columbia seeks to block the Justice Department from releasing about 70 hours of audio files and transcripts to the House Judiciary Committee from interviews with ghostwriter Mark Zwonitzer that were used for his 2017 memoir “Promise Me, Dad.” The interviews were conducted in 2016 and 2017.
Biden and his attorneys have long maintained that the files are exempt from the Freedom of Information Act.
The suit comes after three separate Freedom of Information Act lawsuits were previously filed attempting to unseal them.
In one suit involving the Heritage Foundation, a conservative think tank, attorneys for the Justice Department told a federal judge earlier this month they planned to release the files, with redactions, to both the committee and the Heritage Foundation on June 15 barring a ruling on the issue.
Mr. Biden asserted executive privilege over the recordings in 2024 after House Republicans attempted to access them.
WTX US News has reached out to the Justice Department for comment on the complaint.
In late 2022 and early 2023, classified documents were found at Biden’s home in Wilmington, Delaware, as well as his former private office at the Penn Biden Center for Diplomacy and Global Engagement in Washington, D.C.
In January 2023, special counsel Robert Hur was selected by then Attorney General Merrick Garland to investigate whether Biden had mishandled sensitive documents.
In February 2024, following a year-long probe, Hur released a 345-page report in which he determined that although “Biden willfully retained and disclosed classified materials after his vice presidency when he was a private citizen,” there was not enough evidence to bring criminal charges against him.
Hur’s team interviewed 147 people as part of the investigation, including Biden.
Following Hur’s ruling, and during Biden’s remaining tenure in the White House, the Justice Department refused requests from Republican lawmakers to release audio from Biden’s interview with Hur, although snippets of it were obtained and published by Axios in May 2025.
In its motion Tuesday, Biden’s attorneys argued that under the Trump administration, the Justice Department has “reversed” its position on releasing those files.
“In February 2026, without any formal explanation for its about-face, the Department notified President Biden of its intention to release the audio recordings and transcripts to the plaintiffs in the FOIA Action,” the motion reads.
The investigation into Mr. Biden overlapped with a separate classified documents investigation into President Trump that began when the Justice Department searched Mr. Trump’s Mar-a-Lago estate in August 2022, seizing White House documents with classified markings.
Mr. Trump was subsequently federally charged with several dozen counts accusing him of mishandling classified documents, but those charges were dismissed in July 2024 when a judge determined that the special counsel in that case, Jack Smith, had been unlawfully appointed. In February, that same judge blocked the release of the portion of Smith’s report that addressed Trump’s alleged mishandling of sensitive government documents.
Late Tuesday night, Mr. Trump called Biden a “Crooked Politician” in a Truth Social post in response to Biden’s lawsuit.
Knife robberies decline in hotspot areas as policing efforts intensify
6:00 am
Get you up to speed: Inside knife robbery raid after crime rates slashed in ‘hotspot’ areas | News UK
A raid was conducted by the WTXpolitan Police in Wood Green, London, targeting a suspect in his 30s allegedly involved in a knifepoint robbery. The police were unsuccessful in apprehending the suspect, as he was not located during the operation.
Authorities conducted a raid in Wood Green targeting a suspect in his 30s alleged to have carried a knife during robberies but did not locate him at the property. The Home Office reported that police forces involved in the Knife-Enabled Robbery Group, established in October 2024, have collectively seen knife crime reductions, with West Midlands and British Transport Police achieving the highest decrease at 39%.
Crime and policing minister Sarah Jones noted a significant drop in knifepoint robberies, stating, “the reason knife crime is down is the professionalism of our police force.” Meanwhile, the government aims to halve knife crime over the next decade, committing to target prevention and ensure adequate police resources.
What remains unclear — It is not specified how many arrests have been made specifically in relation to the ongoing Operation Sceptre.
Knife robberies decline in hotspot areas as policing efforts intensify
Knifepoint robberies are down across ‘hotspot’ areas across the UK including London, where WTX joined crime and policing minister Sarah Jones on a raid of a suspect’s flat.
The robberies are down by a fifth compared to June 2024 across seven areas, including the capital, Manchester and Birmingham, according to Home Office figures.
The drop was revealed during National Knife Crime Awareness week, with the WTXpolitan Police, along with other forces in major cities, putting knife crime at the top of their priority list.
A key part of this is Operation Sceptre, a bi-annual campaign by the National Police Chiefs’ Council (NPCC) aimed at tackling knife crime and serious violence, which has resulted in 243 arrests and 159 knives seized this year.
WTX accompanied the Met Police and Jones on a raid at the address of a suspect in a knife attack in north London as part of the operation.
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The raid in Wood Green targeted a suspect in his 30s, who is alleged to carry a blade and to travel around the Wood Green area on a black mountain bike with sunglasses and a hoodie.
Police say he also hangs out in ‘crack houses’ as well as at his family address.
After a short drive to the suspect’s known address at a block of flats, the silent team filtered along the road led by an officer with an ‘enforcer’ – a tool used to hammer in doors if police are not given access after knocking.
Repeated commands to open the door are denied by a woman inside, and a dog can be heard barking. There is a tense standoff with the lead officer, but eventually, we are let into the home.
There is always a chance that a suspect could try to jump out of a back window, but officers posted at the back of the property report that he has not been seen.
Eventually, the woman allows three officers to carry out a search, telling them the agitated dog ‘doesn’t like the police.’
But there’s no sign of the suspect, so it’s back in the cars and a short hop to an alleged crack den where the suspect is known to hang out.
This time, officers face the added risk of unknown people at the address, possibly under the influence of drugs.
But after gaining entry to the flat, it’s empty, with neighbours telling police that those living there had been evicted last week and the locks changed.
The team was unsuccessful in apprehending a suspect on this particular raid.
But the minister told WTX she was impressed by the professionalism of the operation which, even if it did not result in an arrest, sent a message to the community that the police are on the case.
She said: ‘What I saw was exceptional policing. Navigating a really difficult situation when you are trying to arrest a wanted man, you don’t know where he is.
‘The reason knife crime is down is the professionalism of our police force, who are targeting known offenders and putting them behind bars.’
The effectiveness of this work is apparent in the Home Office’s latest stats. Robberies involving a knife fell from 15,918 in summer 2024 to 12,633 by March 2026, meaning thousands fewer people fell victim to this type of crime.
The results, the force says, are down to innovation, collaboration and a focus on tried and true tactics which have emerged from the Home Office‑led Knife‑Enabled Robbery Group.
The group was set up in October 2024 and brings the WTXpolitan, Greater Manchester, West Midlands, West Yorkshire, South Yorkshire, Avon and Somerset and British Transport police forces together to combat the issue.
This has allowed the forces to combine intelligence and analysis to spot crime patterns early and strengthen investigations.
Every police force involved in the scheme has seen crime reductions. West Midlands Police and British Transport Police saw the largest reductions – both down 39% – followed by a 17% reduction in the WTXpolitan Police.
Some 63,611 knives have also been removed from the streets through police seizures, surrender schemes and border interventions
But there’s more work to be done. ‘It’s a mission of ours to halve knife crime in the next 10 years, and we are on track,’ the minister added.
‘We are targeting knife-enabled robbery in particular. Operation Sceptre this week will see lots of people locked up and lots of prevention work.
‘We know that the biggest issue young people worry about is knife crime. A real passion of mine is to get involved with the kids who are on the cusp of criminality and try to pull them away from that.’
The minister added: ‘We will always ensure the police have the resources and funding they need.’
Inspector Kito Jones, who led the operation, told WTX: ‘We are drilling into issues that mean most to Londoners and knife crime is one of those.
‘In Haringey and Enfield, we have had a 17% drop in knife crime, 24% in knife crime involving injury. I’m massively proud of my team.’
High-profile knife killings in the capital have included that of Ben Kinsella, a 16-year-old student at Holloway school in north London who was fatally stabbed in 2008.
The Ben Kinsella Trust was set up in his name to tackle knife crime.
Patrick Green, CEO of the Trust, said following the Home Office announcement of the drop in knifepoint robberies: ‘These figures show national coordinated leadership from the government, and targeted policing, are making a tangible difference with thousands fewer knife robberies than just two years ago.
‘It’s important to recognise that behind every reduction is a life spared the fear, harm or long-lasting impact of violence.’
He added that there was still work to do to end the cycle of violence in which some young people feel the need to carry a blade to protect themselves.
‘We must continue to prioritise prevention, work closely with young people and ensure they feel supported, informed and empowered to make safe decisions long before they ever feel pressure to carry a knife.’
Drones crash near crowds during light show at Sydney Harbour, prompting cancellations
5:00 am
Get you up to speed: Nearly 100 drones crash near crowds watching light show at Sydney harbour | News World
Dozens of drones crashed near crowds during the Vivid Sydney festival’s light show at Darling Harbour on Monday evening. The incident involved 89 drones affected by a technical glitch, prompting the cancellation of subsequent shows.
Vivid Sydney festival’s organisers, Skymagic, reported that 89 drones were affected by a sudden radio frequency change during Monday’s event. Investigations are ongoing to determine the cause of the technical failure that disrupted the performance, with the next scheduled displays cancelled to prioritise public safety.
Vivid Sydney confirmed the cancellation of drone shows scheduled for today and Wednesday, stating, “Public safety remains our absolute priority, and we apologise for the disappointment.” Following the incident, the organiser, Skymagic, is likely to review safety protocols and technical systems to prevent future occurrences.
What remains unclear — It is not confirmed why the sudden change in the radio frequency caused the drones to crash.
Drones crash near crowds during light show at Sydney Harbour, prompting cancellations
A light show over a Sydney marina ended with dozens of drones crashing worryingly close to crowds watching the display.
Vivid Sydney festival’s drone displays have been cancelled after a glitch meant scores of unmanned aircraft crashed on Monday evening.
The incident happened after the drones took to the sky above the harbour and around Cockle Bay at about 7.30pm local time.
People said they could hear the sound the drones made when they hit the water and the concrete below.
Around 1,000 drones were involved in the drone show over Darling Harbour, Sydney (Picture: Alamy Live News.)
A harbour worker claimed that he saw the drones ‘crashing into the marina wharf and nearly hitting workers,’ ABC reports.
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A total of 89 drones were impacted after a sudden change in the radio frequency the aircraft use during take-off, according to the organiser behind the display, British company Skymagic.
Footage shows the fleet flying above the harbour as they attempt to create a formation before some of the lit-up aircraft begin to fall.
The show features up to 1,000 drones and normally lasts 12 minutes. The aircraft sourced for the display were said to be the brightest drones available on the market.
Some of the drones failed to get into the designated formation before falling down into Cockle Bay
Vivid Sydney confirmed that shows scheduled for today and Wednesday have been cancelled ‘following the unforeseen technical difficulties experienced during Monday night’s performance.’
‘Public safety remains our absolute priority, and we apologise for the disappointment,’ it said.
Robert, a worker at Darling Harbour, told ABC: ‘Everything seemed normal and then very shortly after that first image was displayed, on the southern side of Cockle Bay you started seeing drones dropping in the water and then from there it was a cascading failure of the drones.’
He said the sound of them crashing was ‘considerable’ even from up to 65 feet away and that he could hear them ‘physically crash and smash onto the cement’.
‘They did look like they were well and truly outside their flying zones. They’re not meant to fly over anyone or even close to anyone, and it fell within metres of people I was with,’ Robert claimed.
Vivid Sydney said that no drones landed outside of the planned exclusion zone to their knowledge.
In July 2023, hundreds of drones were lost during a show at Melbourne’s Victoria Harbour after connection issues, with several landing in the water.
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Asia can improve digital infrastructure investment to close access gaps
4:00 am
Asia can improve digital infrastructure investment to close access gaps
Digital divide
Investment in foundational digital connectivity remains underfunded, hindering the AI readiness of developing economies, particularly where internet access reaches only 23% in low-income countries.
Investment in foundational digital connectivity remains underfunded, hindering the AI readiness of developing economies, particularly where internet access reaches only 23% in low-income countries.
Digital Divide
High-income economies have achieved 94% internet access, while low-income countries languish at just 23%, hindering their ability to benefit from advancements in AI and exacerbating inequality.
High-income economies have achieved 94% internet access, while low-income countries languish at just 23%, hindering their ability to benefit from advancements in AI and exacerbating inequality.
Digital Divide Concern
“Investment in digital infrastructure is critical, as the gap between foundational connectivity and AI readiness risks exacerbating societal inequality across developing economies.”
“Investment in digital infrastructure is critical, as the gap between foundational connectivity and AI readiness risks exacerbating societal inequality across developing economies.”
Mobilising private capital to scale digital infrastructure in Asia
By Hun Kim, Chief Partnerships Officer, of the AIIB (Asian Infrastructure Investment Bank), a multilateral development bank headquartered in Beijing
Published on
Digital infrastructure is the backbone of economic growth, but investment in this space has been uneven. Many developing economies are struggling to expand basic digital connectivity while preparing for the artificial intelligence era, resulting in a double digital divide: inadequate basic access for hundreds of millions, compounded by growing gaps in AI (Artificial Intelligence) readiness.
Correlation between internet access and development levels
Limited affordable broadband connectivity, unreliable digital services, insufficient access to essential devices, and unstable electricity supply are longstanding challenges faced by developing economies. Despite increasing investment in AI infrastructure worldwide, the foundational connectivity network needed for AI readiness remains underfunded.
Internet access directly correlates with national development levels. High-income economies have achieved near-universal internet access at 94%, but low-income countries have reached only 23%. This disparity not only slows AI adoption but also exacerbates inequity by denying AI’s benefits to those without basic connectivity.
Investment tends to focus on capital-intensive, top-tier digital assets such as data centers, cloud and AI infrastructure while foundational connectivity remains underfunded. This gap risks widening rather than narrowing societal and economic inequality.
Digital inclusion as a challenge for financing and coordination
Multilateral development banks (MDBs) should view digital infrastructure not as a discrete asset class but as an interconnected ecosystem with multiple layers: the foundational layer, the enabling layer, the compute/cloud layer, and the application layer. Private capital naturally gravitates toward segments with predictable demand, scalable operations and bankable returns, such as the compute/cloud layer. However, in rural and low-income areas, there is not enough commercial incentive for network expansion, a problem exacerbated by fragmented regulation, uncertain licensing and limited institutional capacity. Thus, digital inclusion becomes more of a financing and coordination challenge.
Development stakeholders must structure risk frameworks that enable private capital to scale while strategically and efficiently deploying public resources to support segments currently unviable for market investment. A credible enabling environment requires stable and transparent rules, predictable licensing and reliable legal protection. MDBs help members build this credibility by standardizing fragmented regulations, strengthening local institutional capacity and reducing political and regulatory risks. When the enabling environment is credible and sustainable digital service demand is secured, the private sector can deliver impact at a scale far exceeding investments traditionally led by the public sector. Without these conditions, even well-designed projects may remain unbankable, leading to underinvestment in regions with the greatest development needs.
India and Indonesia illustrate how to build nationwide infrastructure
India and Indonesia illustrate how infrastructure sequencing and capital structure design can drive inclusive digital expansion. India prioritized foundational connectivity, leveraging state-directed and quasi-public models to build nationwide infrastructure, including rural broadband access. As market scale deepened and digital adoption accelerated, the government rolled out incentives, including long-term central tax exemptions, state electricity duty exemptions, concessional power tariffs, and single-window fast-track regulatory clearances to mobilize private investment. This created a virtuous cycle: broad connectivity fueled adoption, adoption strengthened demand, and demand directed private capital to higher-return digital assets.
In Indonesia, where terrestrial networks incur high marginal costs to reach remote communities and project economics deteriorate rapidly beyond major urban corridors, catalytic development finance played a pivotal role in early connectivity expansion. A notable example is the Asian Infrastructure Investment Bank’s non-sovereign support for Indonesia’s Multifunctional Satellite Public-Private Partnership project, which connected underserved regions overlooked by commercial financiers. As Indonesia’s digital market matured, data center expansion shifted closer to bankable sites and structured partnerships that derisked investments.
Access to digital infrastructure for the next billion users is possible
These instances show that success depends less on choosing a “one-size-fits-all” technology and more on aligning infrastructure sequencing, incentive frameworks and risk allocation across the entire digital ecosystem.
The Asian Infrastructure Investment Bank has a layered, ecosystem-driven approach that prioritizes technology-enabled infrastructure for the AI era while advancing inclusive growth. It supports commercially viable backbone networks, broadband expansion and data centers and attracts private investment to underserved communities. It also partners with governments to build digital public infrastructure through policy modules and implementation templates.
Asia can narrow the double digital divide
Asia’s digital infrastructure gap should be seen as an investable opportunity, not a cost burden. The central problem is not a lack of investor interest in digital infrastructure but a concentration of capital in the compute layer that overshadows foundational connectivity.
To bridge this gap, it is essential to align the roles of different stakeholders. Governments should establish credible, inclusive regulatory frameworks and strategically invest in segments unviable for market delivery. The private sector should innovate and scale investments where demand exists and risks are priced transparently. MDBs should convene stakeholders, derisk projects, and reduce transaction costs to accelerate the development of bankable projects.
With coordinated action, Asia can narrow the double digital divide and expand digital opportunities to the next billion users, unlocking inclusive and sustainable growth for decades to come.
Hun Kim serves as the Chief Partnerships Officer. In this role, he leads the development, management, and growth of the Bank’s strategic partnerships; mobilizes resources; fosters collaborative relationships with global stakeholders; and oversees the coordination of the Bank’s Multifunctional Hub Offices. He holds a Ph.D. in Applied Economics from the University of Minnesota, USA and an MA and BA in Economics from Yonsei University, Republic of Korea. Kim is from the Republic of Korea.
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