America’s failed quest for energy independence

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In: Asia

The US pursuit of “energy independence,” let alone “energy dominance,” did not last long. Like presidents before him, Joe Biden finds himself in the position of first pleading with OPEC states, then expressing anger at their decisions on oil production. But a new, more active American oil policy threatens changes. The meeting in Vienna of the OPEC+ […]Continue Reading

US software gives China its hypersonic edge

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Classified US software is helping China get an edge over the former in the hypersonic weapons race, despite tight export controls on such technology. The Washington Post reported this week that blacklisted Chinese military research groups have been purchasing US software designed for computer simulations of hypersonic weapons tests. It uncovered 300 sales since 2019 […]Continue Reading

EU weighs economic life without China’s supply chains

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In: Asia, Business

Beijing is bidding to highlight its European Union partnership following news that the bloc’s foreign service is preparing to call on member states to diversify their supply chains from China. Chinese Foreign Minister Wang Yi said on October 17 that the EU should view Sino-EU cooperation objectively, expand common interests and contribute to the stability […]Continue Reading

Asia faces economic headwinds

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While Joe Biden is trying to calm concerns about recession and Christine Lagarde is scaring markets with quantitative easing (QE), the central banks of South Korea and Japan are pleasing investors in their own way. Starting with the “Land of the Rising Sun,” despite Japan’s 2.84 trillion yen (US$19.7 billion) intervention in the foreign-exchange market in the […]Continue Reading