For most of the past thirty years, the semiconductor industry ran on a remarkably clean division of labor. Everybody knew their place. The caricature was almost this simple: TSMC printed. Memory makers crammed capacitors. Designers drew. And the money followed the drawing. TSMC took designs from Nvidia, Apple, AMD, Broadcom and others and reproduced them […]

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The deal struck by Donald Trump with his Russian counterpart, Vladimir Putin, on October 9 to allow Russia to sell millions of tonnes of diesel is a major departure from US policy and runs counter to Ukrainian and European interests. It also directly contradicts a law signed by the US president in September to authorize […]

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When Australia’s Lowy Institute think tank released the 2025 edition of its Southeast Asia Aid Map in July last year, it projected that Western aid cuts would shift the region’s development finance toward Asian partners. Specifically, the report expected the center of gravity to “drift East, notably to Beijing but also Tokyo and Seoul.” Lowy’s […]

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The Iran conflict has exposed a glaring blind spot in US war strategy. America can escalate in hours, but it can take years to rebuild the arsenal it consumes. Washington has begun addressing the arms-replenishment problem, a calculation it should have made before escalating. The Pentagon’s recent awards reflect the intensity of the challenge. In […]

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While the US is arming its long-serving B-52 with potent ship-killing missiles to take on China’s expanding navy, severe munition constraints and operational vulnerabilities could undermine its strategic impact. This month, multiple media outlets reported that the US Navy plans to award a sole-source contract to Lockheed Martin to integrate the AGM-158C Long-Range Anti-Ship Missile […]

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