Category: Industry Sectors
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Asia’s Export Engines Under Pressure: Semiconductors, Tariffs, and the Next Growth Reckoning
Asia’s post-pandemic recovery is entering a more fragile phase, shaped less by domestic cycles and more by the reordering of global technology, trade, and power. What appears today as a cyclical slowdown in exports and consumption is, in reality, a deeper structural transition—one where geopolitics, industrial policy, and technology controls…
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Industrial Policy Replaces Free-Market Orthodoxy
For nearly four decades, global economic thinking was dominated by the belief that open markets, minimal state intervention, and cost-based efficiency would naturally allocate capital to its most productive uses. Industrial policy was treated as an outdated relic—associated with protectionism, fiscal waste, and political favoritism. That intellectual consensus has now…
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When Policy Becomes the Market: The New Grammar of Global Business
For much of the post–Cold War era, global business operated under a comforting assumption: policy was the backdrop, markets were the stage. Governments set rules, firms optimized within them, and success was largely a function of efficiency, scale, and timing. That mental model is now obsolete. We are entering a…
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Merchandise Trade & Shipping: A World Moving Slower—but Thinking Deeper
Global merchandise trade and shipping are entering a phase that looks deceptively calm on the surface but is structurally far more complex beneath. Shipping volumes remain below their long-term trend, not because globalisation has ended, but because it is being re-engineered. After the post-pandemic surge and subsequent correction, firms are…
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Manufacturing’s Two-Speed Reality: Why Global Factories Are Flat While AI Surges Ahead
The global manufacturing landscape in 2025 is marked by an unusual contradiction: factories across major economies remain subdued, while investment in technology, AI hardware, and critical infrastructure is booming. This divergence is not merely cyclical—it represents a structural realignment of industrial priorities that began after the 2008 financial crisis and…