Beijing's renewed regulatory signals and China's weakening consumer spending
Beijing is again summoning executives for regulatory talks, though analysts see this as less alarming than the 2021 crackdown. China's major shopping festival delivered another warning sign, with consumer spending continuing to underwhelm. Meanwhile, Beijing's food-safety warning may slow Sam's Club expansion in the country.
The future of oil prices increasingly depends on China's economic recovery and demand trajectory. Trump hedged on whether Iran will be prevented from using oil profits to rebuild its military. US oil producers are passing up opportunities to capture market share from Gulf rivals, complicating the global supply picture.
Chinese firms are navigating a reshaped global market as AI and tech disrupt rankings, with Tencent leading while state-owned banks and energy firms still dominate. Beijing slapped export controls on 10 US companies and tightened its grip on rare-earth supplies, threatening a fresh trade clash with Washington.
Commentators are revisiting Greenspan's legacy — from the 'Greenspan put' that shaped market expectations to criticism that his policies overprotected markets and set the stage for the 2008 financial crisis. President Trump's Fed chair nominee Warsh is drawing on Greenspan's approach as he designs his own strategy.