China’s Industrial Policy: Ambition, Inefficiency, and a Cautionary Tale for America

Mediocre 3Y Auction Tails Despite Solid Buyside Demand With markets thrown in turmoil following Trump's threat to restart war against Iran in retaliation for downing a US Apache helicopter, it wasn't clear how today's $58 billion 3 year auction would go. In the end, it wasn't great, or terrible: a little tail, but besides that all metrics were relatively solid.   The auction priced at a high yield of 4.192%, up from 3.965% in May and the highest yield since Feb '25. It tailed the When Issued 4.189% by 0.3bps, the...

Researcher Finds Backdoor In Chinese-Made Routers Sold Worldwide Authored by Evgenia Filimianova via The Epoch Times, Cybersecurity company VulnCheck said on Aug. 5 that it has found that more than 20 models of a Chinese-made wireless router sold worldwide contain a hidden backdoor that could allow unauthorized access to devices connected to the network. File photograph of ethernet cables running from the back of a router in Washington on March 21, 2019. Mandel Ngan/AFP/Getty Images The finding adds to growing Western concerns about cybersecurity risks posed by Chinese-made networking equipment. Western governments have...

No Laughing Matter: John Cleese Declares "I'm Afraid They Are Going To Have To Arrest Me" Authored by Jonathan Turley, In the classic movie comedy, A Fish Called Wanda, John Cleese lamented, “do you have any idea what it’s like being English? Being so correct all the time, being so stifled by this dread of, of doing the wrong thing.” Now 86, Cleese has a more pressing concern about being English: whether his exercise of free speech will make him a criminal in his own country. In a recent interview, Cleese observed that...