Biden finds Mohammed bin Salman is too big to nail 2 Mar 2021 The American president has taken heat for inaction over Saudi Arabia’s crown prince, despite judging him responsible for journalist Jamal Khashoggi’s murder. But MbS’ influence has metastasized across global finance. The fallout from sanctioning him would be more than diplomatic.
Corona Capital: Food delivery, Video games 25 Jan 2021 Concise views on the pandemic’s corporate and financial fallout: Hedge fund Tiger Global gets a taste for food-delivery investments; and Jagex, developer of fantasy game “RuneScape,” is flipped to Carlyle less than a year after its last sale.
NYSE zigzag symbolizes chaotic China crackdown 6 Jan 2021 The U.S. exchange flip-flopped again and will delist three PRC telcos after all. Meanwhile a White House ban on Alipay and other apps may take effect only after the current occupant leaves. And TikTok remains in limbo. Effective curbs on Beijing take more than tongue-lashings.
Saudi gets a partial brand detox with Qatar thaw 6 Jan 2021 Ending Riyadh’s three-year embargo with Doha gives both states a minor economic boost. It also removes one of U.S. President-elect Joe Biden’s Saudi-related headaches. But its main benefit could be to reduce the extent to which foreign investors see the kingdom as kryptonite.
Christmas Eve Brexit deal is second-worst outcome 24 Dec 2020 The UK’s last-gasp agreement with the European Union avoids painful tariffs and a dangerous rupture in relations. Yet trade flows remain hostage to diverging standards. While the costs of exiting the single market will now become clear, the benefits of independence remain vague.
Corona Capital: Vaccine dibs 21 Dec 2020 Concise views on the pandemic’s corporate and financial fallout: Vaccine prioritization is about to get competitive.
Corona Capital: Cyber Friday and Monday 30 Nov 2020 Concise views on the pandemic’s corporate and financial fallout: Online holiday shopping hits new records.
TikTok mess is a trap for America’s next president 11 Nov 2020 A deadline for Chinese owner ByteDance to sell the app’s U.S. business by Nov. 12 may not be binding after Donald Trump lost the election. But the big question remains: what to do with an internet firm that’s deemed a security risk? Joe Biden may not find it any easier to answer.
WTO is early test of Joe Biden’s multilateralism 9 Nov 2020 The president-elect approaches diplomacy very differently to Donald Trump. The world trade body’s snarled-up leadership race is a chance to show that. But American criticisms of global commerce rules and China were bipartisan. Biden will seek reform but do it more collegially.
Remember TikTok? Send an indulgence to deal gods 28 Oct 2020 The Chinese-backed video platform is waiting for a U.S. court ruling, Trump administration approval, and then Beijing has to have a word. That’s all before integration with Oracle and Walmart even starts. With the U.S. election forthcoming, TikTok is stuck in M&A purgatory.
Corona Capital: U.S. state budget woes 20 Oct 2020 Concise views on the pandemic’s corporate and financial fallout: Some conservative U.S. states are hurting as much as liberal New York.
Trump and China: this time it’s personal 2 Oct 2020 A Covid-19 diagnosis for the U.S. president turns the People’s Republic from a public enemy to a private one. Trump has already compared the pandemic to Pearl Harbor. A scorched earth policy on issues from trade and TikTok to Taiwan and the national debt has become more likely.
Navalny cloud may yield green energy silver lining 22 Sep 2020 A suspected Novichok attack on the Kremlin critic further complicates German links to Russia via the new Nord Stream 2 pipeline. For now, gas needs mean Berlin can’t bow to U.S. pressure to ditch the project. But it should add impetus to the drive for alternative energy sources.
TikTok CEO exit makes chaos even harder to tame 27 Aug 2020 Kevin Mayer is leaving after three months. It's no surprise with the video app owned by China's ByteDance facing a split and sale or a U.S. ban. But a buyer, be it Microsoft, Oracle or otherwise, could have used his help – after all, he has 100 days more experience than they do.
Wall Street prefers China to Pennsylvania Avenue 20 Aug 2020 Chinese companies are rallying in New York despite delisting threats from Washington. Governance problems abound, yet the $2 trln group is beating the S&P 500. That may be part greed, part short attention spans, but the finance industry is betting the White House is bluffing.
U.S.-China tech spat is less costly than tariffs 14 Aug 2020 The two nations will review their trade deal as the White House refocuses on a purge of Chinese apps. The economic damage is more limited than tariffs, which upended companies and hurt consumers on both sides. Containing the trade fight is more important than saving TikTok.
Hong Kong will be lucky to end up like Singapore 11 Aug 2020 Media mogul Jimmy Lai has been arrested. Press freedoms are being curtailed; elections are postponed. Businesses hope the territory will settle on a model resembling its rival city state, with politics separated and commercial rule of law upheld. That looks far-fetched.
India is the neglected elephant in TikTok’s room 10 Aug 2020 Microsoft and Twitter want pieces of the Chinese video app, but seem uninterested in its largest market by users. There may be practical reasons, given Western tech giants remain welcome in India. But they might also fear New Delhi will give local copycats a helping hand.
U.S. gloves are off with sanctions on HK leader 7 Aug 2020 The Treasury is targeting Carrie Lam, Hong Kong's chief executive, and other officials accused of undermining the territory’s autonomy. It follows blows to Chinese apps WeChat and TikTok. Previous hits had been tolerable for Beijing but it’s now harder to avoid confrontation.
Pompeo’s Chinese web wall is a tall order 6 Aug 2020 The U.S. Secretary of State's "Clean Network" initiative wants to purge America’s internet of Chinese telecoms, apps, and cloud services. Washington aims to ring-fence the People’s Republic, and Mike Pompeo is seeking allies. The costs for companies on both sides could be high.