The UK and Japan pursue bilateral security relations to sidestep the US, another path being created that could connect Europe to democratic Asia even if NATO collapses.
India-Russia-China present a united front, Xi directly confronts “hegemonisms” and pushes a global governance agenda. (The talk about multipolarity is wrong-headed; this vision for the future is no more appealing than 47’s, and we’ll discuss that in more depth in the future, what matters now is that 47’s bluster is simply being ignored. Hugo Dixon is right.) Drezner comments.
Starmer finally beefs up his economic team. We’ll know a lot more about the direction of Europe in a few months, after the UK budget and elections in France and the Netherlands.
US stocks now more expensive (per revenue) than during the dot-com bubble: “If everyone is effectively long the same things, where do the marginal buyers come from when they fall?”
Maybe from here? “Wheeler’s ouster showed the renewed power of [meme-stock] investor mobs … Retail trades now account for 18% of stock-market volume, up from 10% in 2010 … Individuals are also wading into options markets.”
Many web addresses end in .com. Some in .org. Countries have their own addresses based on their country codes, like .uk for the United Kingdom. The British Overseas Territory of Anguilla (population = 16,000) was assigned .ai back in the 1980s, when these decisions were made. Guess who has been making a killing from web licensing to tech companies lately? Last year it totaled a quarter of the state budget.
Venezuela is preparing for war.
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