未分類 The Southern California Chemical Tank Crisis: A Warning on the New Face of Urban Industrial Risk
Executive SummaryThe chemical tank crisis in Garden Grove, Southern California, was not merely an equipment failure insi...
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China Why UK Cannot Cut China Out of Critical Minerals — The Age of Managed Dependency
メタディスクリプションThe UK cannot fully decouple from China’s critical mineral supply chains. This report explains why managed dependency, data protection, and supply-chain visibility are now essential for economic security.
China What the Shanxi Coal Mine Gas Explosion RevealsーEnergy Security, Industrial Safety, and Local Governance Risks in China
Executive SummaryThe gas explosion at the Liushenyu coal mine in Shanxi Province should not be viewed merely as an indus...
Global Economy The Hormuz Crisis and the Limits of American Power
The Strait of Hormuz crisis reveals the limits of American military power and the rising strategic importance of Iran. This report examines how Iran resisted U.S. pressure, strengthened its position through ties with China, Russia, and Pakistan, and forced the West to consider a multinational framework for maritime security. It also explores the implications for Japan’s energy security, global shipping, LNG markets, and the future of the Middle East order.
Global Economy Ray Dalio’s View of 2026: The Global Economy Is Facing Not Just a Downturn, but a Breakdown of Order
Ray Dalio sees 2026 not as an ordinary business-cycle downturn, but as a historic turning point in which debt, currency risk, geopolitical conflict, domestic division, and technological disruption converge. This report examines what his worldview means for the global economy, the U.S.-led order, Japan, investors, and corporate risk management.
Global Economy US Treasury Market: Steepening Yield Curve Signals a Structural Shift
The US yield curve is steepening as rate cut expectations clash with rising fiscal deficits and Treasury issuance, reshaping global funding conditions.
Middle East The Shock of “Non-Dollar Tolls” in the Strait of Hormuz
Iran’s proposal to charge Strait of Hormuz transit fees in yuan or crypto raises a critical question: is the petrodollar system at risk? A clear, structured analysis of implications, mechanisms, and scenarios.
Report The U.S.–Iran Negotiations Are Not About a Deal
An economist’s analysis of U.S.–Iran negotiations. The talks aim not at a grand nuclear deal, but at buying time, managing risk, and preventing escalation.
Report The Reality of America First Investment Pledges
A deep analysis of America First investment pledges, explaining their strategic design, economic realism, and why Japan’s commitment is structurally flexible rather than fiscally binding.
China Rediscovering The Analects in an Age of Uncertainty
How Confucian philosophy and The Analects offer a practical framework for leadership, decision-making, and resilience in an age of uncertainty.
未分類 The Era of Capital Wars and the Reconfiguration of the Global Financial Order
Ray Dalio’s Davos warning signals a shift from a rules-based order to an era of capital wars. This report analyzes how geopolitics, U.S. Treasuries, the dollar, and gold are reshaping global finance for investors and policymakers.
Global Economy Structural Shifts in the International Bond Market
Recent divestments by Danish pension funds and China’s declining U.S. Treasury holdings signal a structural shift in global bond markets. This report analyzes term premium dynamics, reserve diversification, and long-term implications for investors and policymakers.
China China’s Hidden Debt Problem and the Restructuring of Rural Finance
An in-depth economic analysis of China’s hidden debt problem, focusing on rural banks, rising non-performing loans, and state-led financial consolidation.