Ishiba Shigeru, a former defense minister, won the ruling Liberal Democratic Party’s leadership race on Friday. On October 1st, he will officially become prime minister, replacing Kishida Fumio who decided to stand down last month. Restoring public trust in the party has been the focus of LDP’s election. A recent scandal over the misuse of political funds has many in the LDP worried about losing a big chunk of seats in the next general elections. In a speech after his victory, Mr Ishiba said he would strive to reform the party.

A former defense minister with populist flair, Mr Ishiba has called for an “Asian NATO”; he also wants to revitalise Japan’s ageing regions. His victory is a relief for LDP moderates. Takaichi Sanae, a hardcore nationalist, dominated early voting and had entered the run-off with Mr Ishiba. She had pledged to visit the Yasukuni shrine, which commemorates soldiers, including war criminals, who fought in the second world war. That would have infuriated China and potentially undone the diplomatic work of Mr Kishida, who repaired relations with neighbouring South Korea.

America is sending tariffs on China sharply upwards. On Friday it will impose higher levies on a range of Chinese-made products: up to 100% on electric vehicles, 50% on solar cells and semiconductors, and 25% on EV batteries, steel, critical minerals and more. The decision, which President Joe Biden’s administration first announced in May, stemmed from a review of the tariffs initially slapped on China by Donald Trump when he was in the White House.

Mr Biden’s approach is more targeted than Mr Trump’s. Whereas the tariffs four years ago sprawled to cover $350bn-worth of imports from China, the new tariffs only hit about $18bn-worth. Yet their effects may be more dramatic. There are few Chinese EV s on American roads now, and with 100% tariffs in place, the market will remain all but closed to them. That may help American carmakers. But it will hinder America’s transition towards a greener economy.

On Friday foreign ministers of the G77, a big group of developing countries, will gather in New York on the sidelines of the UN General Assembly. High up the agenda will be the widening economic gap between G77 members and developed countries and the impact of climate change on poor states.

The group also wants to push for an overhaul of the world’s financial architecture. Some leaders argue that the high cost of capital for poor countries reflects unfair risk premiums. Part of the problem, they say, is that developing countries have too little clout at multilateral institutions like the International Monetary Fund.

The G 77, often considered a marginal geopolitical force, has been emboldened by shared anger at Western countries among many of its members for doing too little to counter rising debt burdens and to reduce poverty. China is benefiting from this frustration. Although it is not a member of the G77 it has provided financial aid and diplomatic support to it.

Spain’s politics are increasingly dysfunctional but its economy is performing strongly. This week the government raised its forecast for GDP growth in 2024, from 2.4% to 2.7%, and from 2.2% to 2.4% in 2025. These growth rates are more than double the average growth rates expected in the euro zone. This strong performance has improved the public finances; the fiscal deficit was just 3.6% of GDP last year. Business-confidence data, released on Friday, will probably reflect this rosy outlook.

The robust growth is mostly thanks to a post-pandemic boom in tourism, an influx of aid from the EU and swift job creation. Many of the new jobs are going to immigrants, with more than 1m arriving in the past three years. Pedro Sánchez’s minority centre-left coalition failed to get a budget through parliament this year and is unlikely to next. But the strong economic numbers give it some room for manoeuvre.

The Lidingoloppet, an annual cross-country foot race, will draw as many as 20,000 competitors to Lidingo, a rocky island suburb of Stockholm, Sweden’s capital, from Friday. Launched in 1965, the Lidingoloppet is part of the so-called Swedish Classic, a set of four challenges—including running, swimming, cross-country skiing and cycling—that must be completed within a 12-month period.

The main event is a 30km (18.6 mile) race across difficult terrain that includes steep climbs and descents. The unpredictability of Swedish weather adds to the difficulty. Isaac Chemobo of Kenya set the men’s record for this dash, 1:33.33, in 1998. It has stood for longer than most sports records. Yet the reward for winning may mainly be satisfaction. The prize of just $3,000 is relatively mere.