In which industry segments, where, will the strategic winners of this conflict be?
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August 9 marks the anniversary of the Nagasaki bombing – the event that preceded Japan’s surrender in the Second World War and its postwar commitment to peace. Eighty-one years on, that commitment is fraying. Japan is pursuing full-scale defense modernization,…
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Brussels and Berlin keep tightening the rules on what European companies and consumers may buy from China. They call it de-risking. But there is a cost nobody prices in: Europe is walling itself off from the one country whose infrastructure…
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Beijing’s readout of last month’s Trump–Xi summit contained a phrase easy to miss and hard to overstate. The two leaders, Xi said, had agreed to build “a constructive China–US relationship of strategic stability” — a framework Beijing intends to treat…
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The story of Donald Trump’s summit in Beijing is, at its core, a story about big money. At Davos in January, after Wall Street’s senior figures helped persuade the president to shelve his Greenland annexation plan and smooth relations with…
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Beijing’s path to peaceful unification with Taiwan, long premised on dialogue with parties on the island, has reached a dead end. The Democratic Progressive Party openly seeks independence; the Kuomintang, despite its nominal opposition to that goal, defends a status…
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Having spent the better part of a decade in Mainland China first as the head of a top U.S. management consulting firm, and then leading a Western company, I made regular trips to Taipei in the early 2000s. I had…
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On 25 February, Xinhua News Agency reported that the General Office of the Central Committee of the Communist Party of China had issued a notice launching a party-wide campaign to promote a “correct view of political achievements”. Approved by the…
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From 2015 to 2025, Beijing’s most significant macroeconomic achievement was to break free from its long-standing reliance on the property market. Instead, policymakers turned to poverty alleviation, rural revitalisation, and export expansion in order to deflate the real estate bubble…
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During the Fourth Plenum of the 19th CPC Central Committee in Beijing, I spoke with senior policymakers, leading analysts, and business figures in Shanghai and Beijing about major domestic and global developments. A shared view emerged: the long-term health of…
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Stablecoins—cryptocurrencies pegged to fiat currencies—are fast becoming a cornerstone of cross-border payments. Offering near-instant settlement, minimal transaction costs, and programmable features, they present a compelling alternative to traditional systems like SWIFT. Unlike legacy networks, stablecoins operate without intermediaries, relying only…
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