Opening Remarks

Japan's new tax-free shopping system officially takes effect today, November 1. In the future, travelers to Japan will no longer get immediate tax exemptions at stores, instead, they must pay the tax first and claim a refund at the airport. Today, Muyan will also take you through how the public health crisis in the Democratic Republic of the Congo is testing global pandemic defenses, and how extreme weather in South America is indirectly impacting our wallets. Additionally, a cargo ship carrying critical supplies for Taiwan was attacked in a Middle Eastern shipping lane, what hidden concerns lie behind this? We will tell you all about it in a moment.

Today's Global Focus

1. Japan's New Tax-Free System Officially Launches on November 1: Shifting to "Pay First, Refund Later" to Prevent Resale

• What Happened: The Customs and Tariff Bureau of Japan's Ministry of Finance announced that a brand-new tax-free refund system will officially take effect on November 1, 2026. When shopping at tax-free stores, foreign tourists must first pay the tax-inclusive price containing the 10% consumption tax. They can only receive their tax refund after scanning their passports for verification at tax-free terminal machines at airports or ports before departure. This reform completely abolishes the direct in-store tax exemption model, aiming to prevent tourists from reselling tax-free goods within the country for illicit profits.
• Why It Matters: Although the new system adds a departure refund step, it also removes the daily tax-free limit of 500,000 yen for consumables and no longer mandates the use of special tamper-evident plastic bags, making it more convenient for high-spending travelers.
• Taiwan Perspective: Since Japan is the most popular travel destination for Taiwanese people, this major change will directly alter the shopping and packing habits of Taiwanese travelers. In the future, they will also need to budget more time at the airport to complete tax refund procedures before departure.
• Source: Customs and Tariff Bureau, Ministry of Finance of Japan (https://www.customs.go.jp/)

2. Qatar LNG Carrier Attacked in Persian Gulf: Another Warning Siren for Taiwan's Critical Energy Corridor

• What Happened: The "Al Mayeda," a liquefied natural gas (LNG) carrier owned by Qatar's gas transport company, was struck by an unidentified object while sailing in the Persian Gulf on the evening of October 30. Fortunately, the incident caused no injuries, environmental damage, or gas leaks.
• Why It Matters: While the identity of the attacker remains unclear, the incident occurred amid ongoing tensions in the Middle East, once again raising high concerns about the safety of the Persian Gulf, a critical global energy corridor.
• Taiwan Perspective: Taiwan relies heavily on Qatar for approximately 30% to 33.6% of its natural gas imports. Geopolitical risks in the Middle East and threats to shipping lane safety will directly impact the security of Taiwan's energy supply chain.
• Source: Al Jazeera (https://www.aljazeera.com/news/2026/11/1/qatar-lng-carrier-struck-by-unidentified-objects-in-gulf)

3. Largest Cryptocurrency Heist in History Solved: FBI Confirms North Korean Hackers Stole $6.3 Billion

• What Happened: On October 31, the US Federal Bureau of Investigation (FBI) confirmed that the largest hacking heist in history, where $6.3 billion was stolen from Binance, the world's largest cryptocurrency exchange, was carried out by the North Korean state-sponsored hacking group "TraderTraitor." In response, Binance immediately stated that it had used corporate funds to cover 90% of the losses and promised to fully compensate all affected customers.
• Why It Matters: This incident set a new record for stolen virtual assets and once again exposed the threat of state-sponsored cybercrime to the global financial system. The industry is closely watching the security defense capabilities of cryptocurrency platforms.
• Taiwan Perspective: Since Taiwan has a large number of cryptocurrency investors, this record-breaking exchange theft has directly impacted the sense of asset security and market confidence among Taiwanese investors.
• Source: The Guardian (https://www.theguardian.com/technology/2026/nov/01/binance-losses-63bn-hack-covered-fbi-north-korea-behind-attack)

4. Jensen Huang Visits Kazakhstan for the First Time: Partnering to Build Physical AI Computing Factories Serving All of Europe

• What Happened: Nvidia CEO Jensen Huang recently made his first visit to Kazakhstan and was awarded the Order of Friendship by Kazakh President Kassym-Jomart Tokayev. During his visit, Huang pointed out that Kazakhstan has highly abundant energy resources, making it ideal for converting energy into computing power and becoming a hub for AI computing and physical artificial intelligence factories serving all of Europe.
• Why It Matters: The Kazakh government has launched a $10 billion AI infrastructure investment plan with US-based Firebird and Nvidia. It expects to deploy high-end GPUs, including Grace Blackwell and the next-generation Vera Rubin, which will reshape the data resources and computing landscape of Central Asia and Europe.
• Taiwan Perspective: Nvidia's expansion of the global computing landscape will directly affect Taiwan's semiconductor and server supply chains, especially TSMC's chip manufacturing and future orders and global layouts for Taiwanese server hardware manufacturers.
• Source: CNBC (https://www.cnbc.com/2026/10/23/nvidia-huang-investment-kazakhstan-.html)

5. El Niño Triggers Extreme Drought and Flooding: Bolivia Declares National State of Emergency

• What Happened: Bolivian President Luis Arce signed a decree on October 31, officially declaring a national state of emergency to allocate emergency resources to cope with the extreme drought and flooding caused by El Niño. Currently, the drought has affected six of the country's nine provinces, impacting over 78,000 families and causing the deaths of more than 75,000 livestock.
• Why It Matters: The United Nations warned that the intensity of this El Niño could be the strongest on record. In addition to devastating Latin America's agriculture and ecology, it will also trigger ripple effects in global agricultural and raw material prices.
• Taiwan Perspective: Because global agricultural and raw material supply chains are closely interconnected, Bolivia's extreme weather disasters will indirectly drive up international prices, thereby affecting Taiwan's import prices and household expenses.
• Source: Channel NewsAsia (https://www.channelnewsasia.com/world/bolivia-declares-state-emergency-over-el-nino-2026)

6. Ebola Outbreak Out of Control in DRC: Death Toll Surpasses 5,000 with Mortality Rate Near 50%

• What Happened: The Ministry of Health of the Democratic Republic of the Congo released its latest data on October 31, showing that since the Ebola outbreak began in mid-May this year, the cumulative death toll has surpassed 5,000, with 10,351 confirmed cases and a mortality rate of nearly 50%. This has become the worst Ebola outbreak in Congo's history and the second worst in global history.
• Why It Matters: The epidemic has already begun spreading to neighboring countries like Kenya. The World Health Organization and the Africa CDC have urgently called on all nations to increase vigilance and work together to prevent this public health crisis from spiraling further out of control.
• Taiwan Perspective: In the face of the deadly epidemic spreading in Africa, Taiwan's Centers for Disease Control (CDC) under the Ministry of Health and Welfare may adjust travel health notices for relevant African countries at any time. Taiwanese businesspeople and travelers heading to Africa must pay close attention to personal protection.
• Source: Associated Press (https://apnews.com/article/congo-ebola-deaths-5000)

7. UK Prime Minister Keir Starmer Open to Apology for Slave Trade: But Explicitly Rules Out Financial Reparations

• What Happened: On the eve of the Commonwealth Heads of Government Meeting on October 31, UK Prime Minister Keir Starmer stated that he is open to discussing a formal apology from the British government regarding the UK's historical role in the transatlantic slave trade. However, he also explicitly ruled out the possibility of financial reparations.
• Why It Matters: Starmer emphasized that modern British people should not bear legal and financial responsibility for historical atrocities, but he proposed easing the burden on poorer nations through international cooperation, such as debt relief. This marks a significant shift in the British government's stance on historical responsibility.
• Source: The Guardian (https://www.theguardian.com/world/2026/oct/30/andy-burnham-formal-apology-britains-role-transatlantic-slave-trade)

Closing Remarks

Today, November 1, we witnessed a brand-new starting point for Japan's tax-free system, and we saw how geopolitics and climate change affect the daily lives of people globally and in Taiwan. Over the next few days, we will continue to monitor whether shipping lane safety in the Middle East will impact Taiwan's energy supply, as well as the latest shifts in the global computing landscape. I'm Muyan, see you tomorrow.