China

Is China winning the geopolitical game? The US appears isolated as President Donald Trump attacks not just rivals but long-standing allies. Trump’s boorish behaviour towards other countries allows Chinese leaders to act as the responsible adults in the room. China clearly wants to assume the mantle of being the defender of multilateralism and free trade, and the linchpin of a stable world order.  The reality is more complex. The rest of the world is wary of China’s embrace. Beijing benefited from the rules underpinning the multilateral system, turning that system to its advantage. For instance, even as it gained access to worldwide markets for its exports, China kept its own markets mostly closed. In two important respects, though, China is winning the geopolitical game. First, Trump is s...

Dwindling global trust in the US dollar is one of the most prominent risks facing a vulnerable world economy this year, according to Zhu Min, an ex-deputy director of the International Monetary Fund and former deputy governor of the People’s Bank of China. He noted that the credibility of the US dollar was being challenged as its share of global foreign exchange reserves had fallen to 57 per cent – from 70 per cent in the past. On the other hand, “the proportions of gold, the euro and the yuan are rising, reflecting the market’s confidence that the US dollar is dropping”, Zhu wrote in an article for China’s International Finance magazine on Wednesday. Zhu added that the US Federal Reserve’s interest rate cuts would be a critical measure for steadying the financial m...

The geopolitical tectonic plates are on the move again, and the early tremors are already visible across the global landscape with significant consequences for traditional alliances, global markets, and national power realignment.  What we are seeing unfold during the first quarter of 2026 increasingly feels like one of those historical earthquake moments, not because of any single headline associated with President Donald Trump, or a single moment like Canadian Prime Minister Mark Carney’s “rupture” in the world order speech at Davos, or any one bilateral meeting or state visit. But taken together, along with the cumulative weight of high-level diplomatic gambits to Beijing now underway — and many more on the horizon...