Shaolin Temple should take a vow of chastity, not poverty

As China’s fiscal conditions worsen, a scandal at the Shaolin Temple has ignited a debate over who owns the monastic institution’s cultural heritage and how to commercialize

Why value investing has worked better outside the US

I recently interviewed investor and author Daniel Rasmussen for The Long View podcast, where he commented that “value hasn’t worked in the U.S., but it’s worked fine

Citadel Securities’ audacious market call is spot on

With global stocks hitting record highs and meme trades making a comeback, investors are naturally asking if it’s time to take profit. Some institutional managers are going a

‘Wahaha Princess’ reveals China’s uncommon prosperity

In a country where the government is short on fiscal income and its people are worried about layoffs and salary cuts, $2 billion raises a lot of

How much should a Tsinghua graduate be making?

It’s post-graduation season in China. Tiger Moms are naturally comparing notes on the salaries of fresh alumni from top universities. What kind of return might they expect, after

Xi wants to end China’s price wars. But how?

Inside China, price wars are far more dangerous than US tariffs. As President Xi Jinping starts to address the country’s ultra-competitive business culture, the trillion-dollar question is

Hong Kong’s tycoons are damaging the city’s credit culture

How creditworthy are Hong Kong’s billionaire tycoons? Despite the glamor and prestige they project, the city’s old money are dishing out one nasty surprise after another. As bankers

Why hosting a July Fourth pool party may cost less

Americans have one more reason to celebrate this Fourth of July: getting all the gear needed to host a pool party costs less than it has in years,

Is Hong Kong’s New World too big to fail?

New World Development Co.’s financial distress is creating angst just as Hong Kong is starting to regain its feet. The real estate developer’s systemic importance is of

Hong Kong has all but abandoned the dollar peg

Interest rates in Hong Kong have been eerily low, raising the question of whether the city’s dollar peg is now in name only. Hong Kong surrendered its

New World’s bond coupon delay raises three questions

In the bond world, not calling a perpetual is bad. But not repaying coupon? That’s way worse. Hong Kong-based New World Development Co.’s decision to defer

Stephen Miran’s overvalued dollar talk is dangerous

An academic paper has caught Asia’s eye. In a piece published last November, Stephen Miran, Chairman of the Council of Economic Advisers and the brain behind the so-called

China’s defense industry is getting a DeepSeek moment

In investing, narratives can matter a lot more than earnings or cash flow analysis. Pakistan is certainly spinning a good story about China’s defense industry. Its army

Trump and Xi tone down a senseless trade war

The US and China are calling a 90-day truce in their trade war, temporarily lowering tariffs on each other from eye-wateringly high levels. The sharp climb-down well

Taiwan’s carry trade blowup means bigger dollar trouble

In a week of tributes to Warren Buffett, here’s one from me, in the form of stealing one of his best aphorisms: Only when the tide goes out

Xi’s tariff fight reveals China’s great divide

How does an escalating US-China trade war affect people’s well-being? In China, it depends on who you ask. Some are energized by the fight. Electric-vehicle makers are

When will China start to devalue the yuan?

When President Donald Trump launched his first trade war in 2018, China weakened the yuan to offset US tariffs imposed on its exporters. But the sharp depreciation did

Why wouldn’t China weaponize its $760 billion treasury holdings?

China is done retaliating against US President Donald Trump’s exorbitant tariffs, calling the administration’s actions a “joke” that it no longer considers worthy of matching. The question now

Americans are missing out on ‘China Chic’

Who said products made in China have no design? Just as Chinese brands are coming into their own, US President Donald Trump is building a steep tariff wall.

Xi has a plan to ease tariff pain. What about Trump?

Xi Jinping is standing up to Donald Trump. Throwing away past restraints, China’s tit-for-tat response to the 34% tariff the US imposed on April 2 is unnerving global

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