With its restrictions on Huawei, the US is taking aim at one of China's greatest export success stories. This chart shows just how much China has to lose in this dispute—but it's not clear what it can do to satisfy US national-security hawks who see Huawei as a bad actor.

Do umpires feel stupid or do they feel vindicated when they call “not out” but the ball was still going to hit the stumps (by less than 50%)?

#US customs duty receipts have soared as a result of punitive #tariffs placed on #imports from #China. However, this “win” represents fairly small beer compared to the federal government’s overall receipts. And that’s before fiscal #deficits are accounted for. #tradewar

Given his legal advice to date, I would think he’s overpaying slightly.

Last week louis_gave was a guest of the MacroVoices Podcast #podcast, discussing the demonstrations in #HongKong which brought 25% of the city into the streets to protest the #extraditionbill, as well as the longer-term outlook for the #RMB/#yuan youtu.be/Yaj2VRrvn2w

Consider: millions of years ago our antecedents gave a massive sacrifice of their left hemisphere. We lost a tremendous amount of short term memory and replaced it with Broca’s, Wernicke & the phonological loop. But why? So we can—talk. Thus chimpanzees can do this—we can’t:

The five biggest stocks in the US market are more dominant today than ever before. At the end of 2019, Apple, Microsoft, Google, Facebook and Berkshire Hathaway made up 18.1% of total S&P 500 market cap. That’s more even than the top five at the height of the dotcom bubble.

Something about Donald Trump's pronunciation of Sachin Tendulkar tells me he isn't a huge cricket fan

This is where private equity/Softbank is at now 😂 Softbank-backed start-up invents new way to burn cash bbc.com/news/technolog… themargins.substack.com/p/doordash-and…

This reminds me of the Mcgregor/Mayweather prematch press conferences #PresidentialDebate2020

Former Lions lock Martin Muller and three of his teammates at the Valley RFC in Hong Kong will take part in the world's toughest rowing race, the Atlantic Challenge. Read the full article for ways in which you can show your support. bit.ly/3bdaJTL?articl…

At the end of this year, myself and three friends will be participating in the Talisker Whiskey Atlantic Challenge, a 3800km rowing race from La Gomera to Antigua. If you would like to join on as a partner, please DM me or get in touch over the website at eastrowswest.com

Thanks for the writeup Mark Agnew and South China Morning Post! Rugby players turn to ‘completely insane’ Atlantic rowing adventure scmp.com/sport/outdoor/… via @scmpnews

Gavekal’s US analyst, Tan Kai Xian, featured on Citywire SA. Please get in touch if you would like to read more of our publications through a free trial. linkedin.com/posts/citywire…

There it is! #WR 🥇

Very happy about series win but can think of 5 moments that, had they gone the other way, we have a different result: - Liam Williams gives the pass - Curry doesn’t give away unnecessary pen at maul - 50/50 scrum pen 5m out - 50/50 scrum pen for win - Jantjies not called back

Even if we lose this, this is lekker to watch.

1/ Gavekal 's Charles Gave has long espoused a 2x2 matrix—the Four Quadrants—as a window into the global investment environment. Charles’s representation plots growth and inflation along its two axes.

Gavekal It's not just food and energy. All measures of consumer price inflation now running at or above 2%. Producer prices rising even faster. Why? Covid and policy intervention have caused widespread discoordination between supply and demand. The Fed needs to ease off the gas pedal.

After years of US dollar strength, 2023 opens with the prospect that Chinese holders of US dollars—the proceeds of three years of US current account deficits versus China—now begin to deploy the funds they accumulated over Covid.