Macro

Economy

Europe Was Told the Energy Crisis Would Be Targeted and Temporary. The Commission Just Blocked the Only Tool That Could Make It So.

Dombrovskis warned of a stagflationary shock that could cut EU growth by 0.6pp. Hours later the Commission blocked the fiscal escape clause. G7 meets Monday.
Economy

Japan Asked the IEA for More Oil. The First 400 Million Barrels Lasted Three Weeks.

Takaichi asked the IEA to prepare a second coordinated oil release. India's PMI hit a three-year low. Malaysia held two emergency meetings in two days. Asia escalated.
Economy

ADNOC Can’t Ship Its Own Gas. Goldman Says Gulf GDP Could Drop 14%.

ADNOC cut LNG production because tankers cannot transit Hormuz. Goldman projects Qatar and Kuwait GDP down 14 percent if the war runs through April. Trump's deadline expires Monday.
Economy

Germany Is Borrowing €174 Billion in a Single Year. The Factories Just Started Responding.

Germany is borrowing €174 billion in 2026. A €500 billion infrastructure fund and a €83 billion defence budget are rewriting Europe's largest economy from scratch.
Asia Pacific

Forty Companies, Two Targets, One Message: Beijing Is Done Waiting

China blacklists 40 Japanese firms over Taiwan as Trump's 15% tariff takes effect. Section 301 probes and a suspended rare earth truce raise the stakes.
Economy

China’s Semiconductor Output Surges 85% to Record 484 Billion Units

China produced a record 484.3 billion semiconductor units in 2024 — an 85% surge from 2020. Surging output masks collapsing foundry profits, a secret EUV prototype in Shenzhen, and a $47.5 billion state fund betting on self-sufficiency.