A new framework on how China’s rise is reshaping global competition across industry, technology, energy, capital flows, and geopolitics. Grounded in local insight and shaped by a global perspective. Publishing 5-10 in-depth structural essays weekly
| Platform |  | Pricing | Freemium | Publishes | Daily |
|---|---|---|---|---|---|
| Issues | 298 | Founded | 9 months ago | Last Issue | 5 days ago |
| Active | |||||
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leonliao.substack.comLatest Issues
Japan Has Magnet Technology. That Still Isn’t Magnet Security
The Permanent Magnet War 4: Japan has spent 15 years building magnet supply, yet a few tonnes of heavy rare earths can still determine whether its magnet makers accept new orders
By July, China had shipped no dysprosium oxide to Japan for...
Does China Really Squeeze Household Income?
Employee compensation amounted to 51.8% of GDP in China and 53.1% in the United States. Yet Chinese households ultimately received disposable income equivalent to 61.6% of GDP, compared with 75.4% in America. The labour-income gap was jus...
America Is Testing Five Rare-Earth Magnet Routes at Once
The Permanent Magnet War 3: Washington is funding five competing industrial architectures because no one yet knows which can turn policy capital into qualified magnets fastest
MP Materials is building toward roughly 10,000 tonnes a year, w...
Who Really Suppressed Labour’s Share — China or the U.S.?
In 2024, the ILO estimated China’s labour income share at 51.2% of GDP, against a global average of 52.3%. China sits almost exactly alongside the United States and above India, Russia, Brazil, Indonesia, Turkey and Mexico. More important...
Who Pays for Rare-earth Magnet Security?
The Permanent Magnet War 2: The non-Chinese magnet chain will survive only if governments, OEMs, banks and industrial groups keep paying for the redundancy that conventional market economics would oth
America is underwriting MP Materials w...
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Publish everyday. A new framework for understanding China, industrial power, state capacity, tech diffusion, capital flows, and global order.Former Managing Director at a global investment bank and Head of a top China research institute
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