Headlines

The US-India trade deal that isn’t

When Donald Trump announces a “historic deal,” the room usually vibrates with superlatives. When Narendra Modi responds, the quiet is more telling than the words. Their latest exchange—a claimed swap of ending Russian oil purchases for a US tariff cut—was a masterclass in

Hong Kong signals caution in stablecoin license rollout

Hong Kong authorities are moving toward issuing the city’s first stablecoin licenses, with the Hong Kong Monetary Authority targeting March for an initial round. Market expectations, however, have been carefully managed. Based on regulatory signals and industry briefings, the

New START renewal must have China at the table

There is much concern about a new nuclear arms race after the New START treaty between the United States and Russia expires on February 5. A two-prong approach to nuclear negotiations is highly advisable. One prong would work to extend New START, though how to do so is a matter

Xi’s military purge is not really about corruption

Zhang Youxia, a top military general and vice-chairman of the body in overall command of China’s military forces, was removed from office on January 23. His departure means all but one of the seven members of the central military commission (CMC), which is chaired by Chinese

What the US-India trade deal really means

Although United States-India cooperation remains a fundamentally positive-sum enterprise, advancing both economic and strategic interests, the manner of the new bilateral trade deal’s announcement was as striking as its substance. President Donald Trump framed the deal as a