Over the past four decades, the world’s largest economies — the US, Eurozone, Japan and China — have traversed strikingly different industrial and financial paths. In the immediate post-war period, Germany and Japan emerged as major manufacturing exporters to the US, which began to actively outso...

Condivergence: The changing global financial landscape: Equities, debt and banking in transition

Coming back from travelling in the UK and China, I had time to reflect on how AI is transforming the macroeconomy and how small companies or economies like Malaysia can survive in this war of giants.

Artificial intelligence (AI) and robotics are not just new technologies; they are a rev...

Condivergence: The promise and perils of AI on the macroeconomy: Strategy for smaller players

Bessent warned against betting against the US bond market (Photo by Bloomberg)
...

Condivergence: House of cards in bonds

One of the truths about investing is that no asset allocation strategy or algorithm lasts forever. Times change, the context changes and what worked in the past is not only failing, but sometimes downright dangerous to use.

When I first learnt the investment trade as I had to oversee re...

Condivergence: Why no allocation formula works forever

Asia as a landmass accounts for 59% of global population, 29.8% of land area, 37.2% of trade (that is, it is No 1) and has a surplus of more than US$1 trillion against the rest of the world, mostly the US, largely due to oil and manufacturing output.

Asia produces in nominal gross domes...

Condivergence: Asia’s role in global governance and why the West still doesn’t get it

At the end of July, the yen fell to the lowest level against the US dollar in 40 years, touching at one point 164 to one USD. Some analysts think that this was due to the differential between the US and Japanese interest rates, but the US Federal Reserve has kept interest rates unchanged, while J...

Condivergence: A yen for the dollar: Intervention and the debt loop trap

As the summer sizzles with record heat in Europe, the European Commission has slapped Chinese platform AliExpress with a €550 million (RM2.56 billion) fine over sales of illegal and counterfeit products under its Digital Services Act. This is more than double compared to the €120 million fine han...

Condivergence: Geonomic fines, supply chain fragmentation and AI efflorescence

The geoeconomics of artificial intelligence and its financialisation are key to understanding how to survive the AI bubble cycle.

The internet changed traditional economic thinking because it brought together the phenomenon of near-zero cost of digital transactions with network economic...

Condivergence: How techfin generated the AI bubble

The geoeconomic world, where geopolitics trumps business, is divided into clusters of manufacturing, services/software and tech resource blocs that are connected via global value or supply chains (GVCs). The Strait of Hormuz illustrated vividly how chokepoints can disrupt not only energy supply b...

Condivergence: How global value chains are reconfiguring in the Age of Brutal Geonomics

Since Adam Smith’s landmark 1776 thesis on free trade as the anchor of the wealth of nations, global trade has been a major driver of human prosperity. Trade, of course, is all about networks of roads, maritime routes, air routes, space and, today, digital communications.

Free trade gro...

Condivergence: Develop engineering intelligence to thrive amid complex transformation

KLANG (Oct 25): Orang Besar Istana Engku Maharaja Lela Setia Paduka Datuk Syed Budriz Putra Jamalullail Syed Amir Abidin Jamalullail topped the list of six recipients of Selangor state honours conferred in conjunction with the Silver Jubilee marking the 25th year of the reign of the Sultan of Selangor, Sultan Sharafuddin Idris Shah, on Sunday.

Orang Besar Istana Syed Budriz Putra Jamalullail leads six Selangor honours recipients

(Oct 25): British Columbia is set to elect its first Conservative Party majority in 98 years, according to Canadian broadcasters, swinging Canada’s third most populous province to the political right.

British Columbia’s left-wing leader loses to Conservatives in vote he called

BAGAN DATUK (Oct 25): Malaysia remains committed to its offer of assistance to Indonesia to address the transboundary haze affecting the country, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.

Malaysia remains committed to offer of aid to Indonesia to tackle haze — Ahmad Zahid

BENGALURU (Oct 25): British Prime Minister Andy Burnham has opened the door to the country readopting the European Union’s (EU) free-movement rules, the Sunday Times reported on Saturday.

British PM Burnham open to adopting EU free movement, Sunday Times reports

KUALA LUMPUR (Oct 25): Prime Minister Datuk Seri Anwar Ibrahim on Sunday extended his congratulations to the Sultan of Selangor, Sultan Sharafuddin Idris Shah, in conjunction with the Silver Jubilee marking 25 years of His Royal Highness' reign.

Anwar congratulates Sultan of Selangor on Silver Jubilee of reign

KUALA LUMPUR (Oct 25): Twelve areas recorded unhealthy air pollutant index (API) readings as of 10am on Sunday, with Serian in Sarawak recording the highest reading at 194.

Haze: 12 areas record unhealthy API readings at 10am, Serian highest

BAGAN DATUK (Oct 25): The issue of MCA’s dissatisfaction over the announcement of Barisan Nasional (BN) candidates for the 16th Melaka State Election will be discussed and resolved collectively before nomination day on Oct 31, said BN chairman Datuk Seri Dr Ahmad Zahid Hamidi.

Melaka polls: BN to discuss MCA candidate issue before Oct 31 — Ahmad Zahid

Two recent conversations confirmed my suspicion that too many experts are operating in silos and often failing to connect the dots.

The first conversation was about antimicrobial resistance and hospital-cleanliness best practices, specifically in the United Kingdom. I have followed this...

The Emerging World: The Institutional Roots of Policy Nonsense

Whether a hospital can hire nurses, a school can repair its roof, or a country can build a clean-energy grid often depends on factors that rarely make the news. For many governments, rules limiting deficits, debt, or spending ultimately determine whether they can invest in the future.

T...

The Visible Hand: Public Investment Is Fiscally Responsible

TOKYO (Oct 25): An earthquake with a preliminary magnitude of 7.0 on Sunday struck waters near the Ogasawara Islands in the Pacific Ocean, south of Tokyo, with no tsunami warnings issued, the Japan Meteorological Agency (JMA) said, reported Xinhua.

Magnitude-7.0 earthquake strikes waters near Japan’s Ogasawara Islands

MELAKA (Oct 24): MCA will not recognise any of its candidates announced by Barisan Nasional (BN) for the 16th Melaka state election without the approval of the party’s top leadership.

Melaka polls: MCA will not recognise candidates announced without party’s approval — Wee

KUALA LUMPUR (Oct 25): The Sultan of Selangor,&nbsp;Sultan Sharafuddin Idris Shah, has expressed disappointment over the mismanagement of Tabung Haji, stressing that funds entrusted for religious purposes must be managed with accountability and responsibility.

Keep race and religion out of politics, says Sultan Sharafuddin

KUALA LUMPUR (Oct 25): This week’s City &amp; Country cover story looks at Astaka Padu Sdn Bhd, which is set to unveil Amora Parks, an 11.76-acre freehold integrated development in Johor Bahru with a gross development value of RM930 million. CEO Allen Khong discusses the mixed-use development, which will comprise four components — commercial development Amora Boulevard, Amora Serviced Residence, Amora Wellness Mall and an education hub.

New lifestyle offering in Tampoi

(Oct 25):&nbsp;Pessimism has gripped Chinese stocks, with no end in sight for a deepening selloff as investors confront the realities of an economy that’s weak enough to erode corporate profits but not to trigger forceful new stimulus.

Sinking profits turn China’s US$3.5 tril stock rout into trap

KUALA LUMPUR (Oct 25): As the umbrella body for five major voluntary organisations, the National Council for the Blind, Malaysia (NCBM) has created a common platform for blind and visually impaired individuals in the country to discuss key concerns before escalating them to relevant authorities.

To be seen + heard

TOKYO (Oct 25):&nbsp;An earthquake with a preliminary magnitude of 7.0 on Sunday struck waters near the Ogasawara Islands in the Pacific Ocean, south of Tokyo, with no tsunami warnings issued, the Japan Meteorological Agency (JMA) said, reported Xinhua.

BAGAN DATUK (Oct 25): The issue of MCA’s dissatisfaction over the announcement of Barisan Nasional (BN) candidates for the 16th Melaka State Election will be discussed and resolved collectively before nomination day&nbsp;on&nbsp;Oct 31, said&nbsp;BN chairman Datuk Seri Dr Ahmad Zahid Hamidi.

KUALA LUMPUR (Oct 25): The Federation of Malaysian Manufacturing (FMM) is urging the government to provide stronger tax incentives, easier financing and technology support to help small and medium enterprises (SMEs) grow and compete globally, in a statement on Sunday.

FMM urges stronger push to grow Malaysian SMEs through more capital, technology and support

ZURICH (Oct 24): Lindt &amp; Sprüngli has struggled because it misjudged how consumers would respond to price increases, the chair of the Swiss chocolate maker said, days after the company ousted its CEO over concerns about its performance.

Lindt got chocolate price hikes wrong, chairman says after CEO's ouster

(Oct 25):&nbsp;At a shipyard in northern Singapore, a yellow platform towers over a maze of scaffolding and cranes. Resembling a 15-story building, the piece will be shipped halfway around the world to Europe to be installed into an offshore wind farm.

Singapore yards chase profit from Europe’s offshore wind push

KUALA LUMPUR (Oct 25): Twelve areas recorded unhealthy air pollutant index (API) readings as of 10am on Sunday, with Serian&nbsp;in Sarawak recording the highest reading at 194.

MELAKA (Oct 24): The government is taking into account national security and sovereignty concerns in considering a restriction on the use of the Waze navigation application among civil servants, said Prime Minister Datuk Seri Anwar Ibrahim.

PM: Waze ban for civil servants takes into account security risks, sovereignty

SEOUL (Oct 25): North Korean leader Kim Jong Un returned to his country by road on Sunday after visiting a historic Korean War memorial in the Chinese border city of Dandong, North Korean state media reported.

North Korea's Kim Jong Un returns from China after war memorial visit, state media says

BAGAN DATUK (Oct 25): Malaysia remains committed to its offer of assistance to Indonesia to address the transboundary haze affecting the country, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.

SEATTLE (Oct 24): US President Donald Trump has been telling voters to view the midterm elections as if he were on the ballot, and on Saturday one of his Democratic predecessors did just that.

Obama unloads on Trump while stumping for Democrats ahead of midterms

KUALA LUMPUR (Oct 25): Prime Minister Datuk Seri Anwar Ibrahim on Sunday extended his congratulations to the Sultan of Selangor, Sultan Sharafuddin Idris Shah, in conjunction with the Silver Jubilee marking 25 years of His Royal Highness'&nbsp;reign.

(Oct 25): US President Donald Trump defended his decision to wield tariffs during a campaign rally in Georgia, saying they’ve made the US richer as he announced that Volkswagen AG agreed to build a new US$4.2 billion Audi plant in the state.

Trump defends tariffs at rally as he touts new US Audi plant

(Oct 25): Yemen's Iran-aligned Houthis on Sunday renewed their warning against using Riyadh's King Khalid International Airport, hours after the airport announced it will designate two terminals for flights following a suspension earlier this month.

Yemen's Houthis renew warning against using Riyadh airport

BENGALURU (Oct 25): British Prime Minister Andy Burnham has opened the door to the country readopting the European Union’s (EU) free-movement rules, the Sunday Times reported on Saturday.

(Oct 25):&nbsp;British Columbia is set to elect its first Conservative Party majority in 98 years, according to Canadian broadcasters, swinging Canada’s third most populous province to the political right.

Andrew Sheng

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Andrew Sheng

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