Israel strikes Syria during “moment of risk”

NEWS WRAP

Trump joins other world leaders in Paris

• Macron rolls out the red carpet | French President Emmanuel Macron rolled out the red carpet to meet President-elect Trump in Paris, an honour traditionally reserved for sitting presidents. Trump attended the reopening of Notre Dame Cathedral after it was destroyed by fire. He met with several world leaders while in Paris. READ MORE
   
• Healthcare CEO murder suspect arrested | University of Pennsylvania graduate and tech enthusiast Luigi Mangione was arrested in Pennsylvania for allegedly killing Brian Thompson, the CEO of America’s largest healthcare fund. Investigators are honing in on Mangione's chronic back pain and a notable social withdrawal six months ago to identify the suspect's possible motive in the killing. READ MORE
   
• Netanyahu takes stand in corruption trial | Israeli Prime Minister Benjamin Netanyahu took the stand in an underground, secure courtroom in a long-standing corruption trial. He is accused of using his influence in exchange for lavish gifts and positive coverage from media moguls. READ MORE
• Hegseth, Gabbard stump for support | Trump’s nominees for Secretary of Defense and Director of National Intelligence, Pete Hegseth and Tulsi Gabbard, are making the rounds in Congress trying to shore up support for their appointment. Hegseth faces claims of sexual assault and excessive drinking, which he denies, and Gabbard’s potential ties with foreign adversaries have come under fire. READ MORE
   
• Biden weighs pre-emptive pardons | In what would be a presidential first, Biden is considering granting pre-emptive pardons to Trump critics who he believes might be unfairly targeted when Trump takes office. Former Congresswoman Liz Cheney and former Chief Medical Advisor Dr Anthony Fauci have been mooted as potential recipients of the pardons. READ MORE

BY THE NUMBERS

13.5% | Average total increase in Chinese solar panel component production from 2019 to 2023

This is an excerpt of Should Australia make solar panels? Supply chain security through global engagement by Research Associate Georgia Edmonstone.

The solar panel supply chain is typically broken down into four segments: polysilicon, ingots and wafers, solar cells, and solar modules, and China has become the dominant producer in all four segments. China is a clean energy manufacturing powerhouse, producing most of the world’s lithium-ion batteries and wind turbines. But its dominance in the solar supply chain is unprecedented and has rapidly consolidated in recent years. Solar manufacturing in China is now an increasingly commoditised, viciously competitive industry. There are an estimated 1.8 million people employed in solar manufacturing in China, with an estimated manufacturing capacity of 1000 GW of modules per year (double the amount of solar modules installed globally in 2023).

Developing a more resilient source of supply does not necessarily mean Australia should produce all parts of a solar panel itself. An ideal reaction to a supply chain disruption would be for Australian companies to be able to quickly pivot to alternate suppliers.

Australia could be best placed to contribute to building global supply chain resilience as a consumer rather than a producer. However, there are still segments of the supply chain that have seen less investment outside of China, particularly wafers and to an extent, polysilicon. Australia could examine investing in areas where its competitive advantage may be higher and where there is growing global demand for products manufactured outside China, potentially as an exporter.

THE WEEK IN TWEETS

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