The Biotech Supply Chain Hiding in Plain Sight

Response to: Yang, Y. Tony. "China's Beautiful Biotech Chaos vs West's Elegant Paralysis." Asia Times, December 28, 2025. https://asiatimes.com/2025/12/chinas-beautiful-biotech-chaos-vs-wests-elegant-paralysis/. Here's a statistic that should end the "race" metaphor: one-third of all Western Big Pharma acquisitions now originate from Chinese laboratories. The chaotic experimentation happens in Shanghai; the billion-dollar validation checks are signed in New York. The Global … Continue reading The Biotech Supply Chain Hiding in Plain Sight

When the Tower Can’t Be Rebuilt: What Institutional Economics Misses About the Next Decade

Rebecca Patterson's recent New York Times essay uses a Jenga tower as a metaphor for the American economy in 2025. Blocks are being removed—small businesses cutting jobs, federal layoffs, consumption concentrating among the wealthy—while AI companies pile massive investments on top. Eventually, she warns, Jenga towers fall down. She's right about the instability. But the … Continue reading When the Tower Can’t Be Rebuilt: What Institutional Economics Misses About the Next Decade

“The Long Telegram” by George F. Kennan

"In atmosphere of oriental secretiveness and conspiracy which pervades this government, possibilities for distorting or poisoning sources and currents of information are infinite. The very disrespect of Russians for objective truth--indeed their disbelief in its existence--leads them to view all stated facts as instruments for furtherance of one ulterior purpose or another. There is good … Continue reading “The Long Telegram” by George F. Kennan

A China Prediction: A Debt Deleveraging in a Decade

"What happens when torrid monetary and fiscal reflation in the West meets tighter credit and evaporating liquidity in China?We will find out soon enough who calls the shots for world inflation in a globalised economy dominated by cross-border capital flows. We will also find out whether these two colliding forces moderate each other, or set off the … Continue reading A China Prediction: A Debt Deleveraging in a Decade