Ten things finds a world built on precarious assumptions.
Consider LNG in Europe. America was long assumed to be a reliable trade partner. But their leadership is now the most volatile element in global trade. After 2022 the Europeans desperately diversified away from Russian gas… only to have concentrated dependency in another direction. The geography may have changed. The structural fragility did not.
Speaking of fragility, China’s intense dependence on food imports has to be keeping President Xi up at night. If Chinese industrial policy has one consistent thread, it’s to avoid bottlenecks and own the value chain. They’ve certainly succeeded in isolating their economy from energy shocks, but food is a different matter altogether.
Forecasting what comes next would make anyone look like a fool. But the direction is clear enough: major powers are trying to need everyone else a little bit less.
Until next week friends.
China has work to do in holding the rice bowl firmly in hand...
Source: China Power
Key crops are driving the import dynamics.
Source: Hannah Richie
The Hormuz Boom for solar exports.
Source: BNEF
Baseload is great, but variable has proven it can scale quickly.
Source: Ember (via Stephen Porder)
The US is a reliable trade partner, right? Right?
Source: WSJ
Canada really needs to do better.
Source: Hannah Ritche
This is old data, but fascinating.
Source: Pew Research
More evidence of American Exceptionalism.
Source: Pew Research
Sign me up for the PPV.
Source: YouGov
