China

Xi Jinping’s new smiles got China off the hook at climate talks

Beijing's bandwidth to deliver is shrinking as its economic performance wanes.

Lessons for Europe from China’s quest for semiconductor self-reliance

This paper explores China's quest to become a domestic-demand-driven economy, and the lessons that can be learnt from its quest for self reliance.

Biden, Xi focus on Taiwan and forget about Ukraine

The meet did not seem to offer solutions to the two most pressing problems for the international order.

The advance of China’s private sector pauses, but the trend is unclear

The drop in the previous private-sector advance should not be viewed as the start of a new trend of continuous decline, at least not yet.

At Party Congress, Xi doubles down on China’s direction

The two key objectives are targeted self-reliance and national security

Europe’s promised semiconductor subsidies need to be better targeted

The proposed European Chips Act over-emphasises semiconductor production subsidies, focusing too little on increasing value-added in research.

The critical importance of chips – and having a plan for them

The Chips Act is the first, and an imperfect, step towards a long-term strategy that still needs to be designed.

China’s real estate sector goes south

The demise of China’s real estate sector, pushed by developer defaults and mortgage boycotts, is a major risk for the Chinese economy.

China and the West: growing apart as geopolitical tensions grow

The model of increasing economic interdependence between the West and the emerging world was built on assumptions that no longer hold.

China can learn from the bursting of Japan's real estate bubble

Beijing cannot count on economic growth or fiscal space to tide through crisis

China’s top ranked corporations are not as opaque as they may seem

Even though most large Chinese SOEs are not listed, they generate most of their revenue from their listed subsidiaries.

China’s Economy Needs More Stimulus. Beijing’s Room for Maneuver Is Limited.

What role for China in the global refining crunch?

Despite high prices, China’s substantial spare oil refining capacity remains restricted.

Ukraine and Taiwan on the Biden-Xi chessboard

Overall, Biden and Xi seem to be converging on their strategies for global dominance

A new kind of Belt and Road Initiative after the pandemic

The Belt and Road Initiative is turning from infrastructure financing into an instrument for Chinese soft and hard power.

Xi, Biden switching strategies for dominance

The US now sees Asia more through an economic lens, while China shifts toward a security focus