51³Ô¹ÏÍø

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July 24, 2026
 

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Shuli Ren
A robotic arm manipulates SK Hynix wafers at a summit in Seoul on Nov. 3. SK Group Chairman Chey Tae Won projected strong demand for artificial intelligence and downplayed concerns about a spending bubble.
COMMENTARY / World
Jun 7, 2026
A trillion-dollar question for memory chipmakers
We are only in the second year of the AI boom, making it too early to know if it will outlast past cycles.
SoftBank chairman Masayoshi Son takes the stage with OpenAI CEO Sam Altman at an AI Conference in Tokyo in February 2025.
COMMENTARY / Japan
May 8, 2026
OpenAI is so yesterday ¡ª even for SoftBank
Liquidity is as important as paper gains. There are already signs that capital markets are souring on Son¡¯s biggest bet.
SoftBank CEO Masayoshi Son and the head of OpenAI, Sam Altman, attend an event to pitch AI for businesses in Tokyo in February 2025.
COMMENTARY / Japan
Apr 23, 2026
SoftBank is going all in on OpenAI, but at what cost?
SoftBank Group¡¯s founder Masayoshi Son invested in OpenAI despite potential exposure to a liquidity crunch.
South Korea's benchmark Kospi index of shares and the Kosdaq are seen down on Tuesday as investors fretted about the turmoil in the Middle East.
COMMENTARY / World
Mar 6, 2026
Why the 51³Ô¹ÏÍø morphed into panic selling in Asia
The selloff may have come as somewhat of a surprise for investors. North Asia is known for its dependence on oil and natural gas imports.
China entered 2025 widely written off amid trade pressure, capital flight and deep structural worries, but ended the year reasserting its economic and technological strength.
COMMENTARY / World
Jan 2, 2026
Repeat after me: Never, ever underestimate China.
Some 47% of the world¡¯s top 20th percentile AI researchers finished their undergraduate studies in China, well above the 18% share from the U.S.
Masayoshi Son¡¯s SoftBank is turning to expensive hybrid bonds and other financing methods to fund its $30 billion investment in OpenAI, as it faces growing pressure from high debt, low cash flow and competition from AI giants like Nvidia.
COMMENTARY / Japan
Oct 26, 2025
SoftBank¡¯s OpenAI ambition is far too grand for banks
On a stand-alone basis, as of the end of June, the company held more than twice as many bonds as bank loans.
China is reshaping its AI strategy by backing domestic chipmakers and pushing startups to raise funds through stock markets, with the goal of reducing reliance on Nvidia and creating self-sufficient supply chains.
COMMENTARY
Aug 28, 2025
China gets closer to finding its own Nvidia
Cambricon has become a stock market darling, precisely because investors recognize China has a good chance to take market share in inference chips.
Pakistan's Chinese-made J-10C fighter jets fly over Islamabad in March 2024. Claims that Chinese fighter jets downed advanced Western-made Indian aircraft in recent clashes have caught investors' attention, raising prospects for increased arms sales for Beijing.
COMMENTARY / World
May 19, 2025
China¡¯s defense industry is getting a DeepSeek moment
Investors are reassessing Beijing¡¯s military capacity and potential to rise as an arms exporter.
The 90-day truce in the U.S.-China trade war was a huge relief for small businesses and millions of workers on both sides of the Pacific.
COMMENTARY / World
May 13, 2025
Trump and Xi tone down a senseless trade war
It was a huge relief for small businesses and millions of workers on both sides of the Pacific.
Facing a new round of U.S. tariffs, China may devalue the yuan ¡ª possibly by as much as 20% ¡ª if fiscal stimulus falls short, risking a global currency war as it fights to meet its growth target.
COMMENTARY / Japan
Apr 16, 2025
When will China start to devalue the yuan?
One way to think about China¡¯s currency policy is its fiscal stance. Unless Beijing brings out the stimulus bazooka, devaluing the yuan might be the most expedient option.
The greenback¡¯s share of global reserves dropped to 58% last year from over 70% two decades ago, reflecting its declining dominance in international trade and finance.
COMMENTARY / World
Apr 11, 2025
Why buy the dollar if the U.S. becomes an economic island?
The greenback¡¯s share of global reserves dropped to 58% last year from over 70% two decades ago, reflecting its declining dominance in international trade and finance.
Behind Mixue¡¯s growth is an army of franchisees. The company barely manages any stores itself. Rather, almost all of its revenue came from selling store supplies.
COMMENTARY / World
Mar 19, 2025
How to make billions selling $1 lemonade
Behind Mixue¡¯s growth is an army of franchisees. The company barely manages any stores itself. Rather, almost all of its revenue came from selling store supplies.
China, under President Xi Jinping, is resisting Donald Trump¡¯s trade tariffs, but may need to respond with major fiscal stimulus, currency devaluation or allowing TikTok¡¯s sale to navigate economic challenges.
COMMENTARY / World
Feb 5, 2025
China¡¯s Mr. Big Won¡¯t Cave in to Trump for Nothing
Does Xi Jinping have a trade war game plan? He¡¯ll need to make hard choices.
Because of the U.S. dollar peg, Hong Kong can no longer be Asia¡¯s go-to fundraising platform, eroding a key selling point for the financial center.
COMMENTARY
Jan 15, 2025
Hong Kong-dollar peg makes less sense than ever
It¡¯s increasingly clear that the currency regime, which inevitably ties the city¡¯s lending rates to those of the U.S., is outdated and needs a revamp.
Amid a slowing economy, Beijing has avoided large-scale fiscal stimulus to prevent further debt buildup, focusing instead on modest measures to alleviate regional financial stress without adding new borrowing.
COMMENTARY / Japan
Nov 21, 2024
No, China doesn¡¯t really have a debt crisis
Beijing is gun-shy about fiscal stimulus due to concerns more debt will build up. This thinking is muddled.
Hong Kong¡¯s property tycoons are eagerly awaiting interest rate cuts by the Federal Reserve due to their struggles with slow home sales, vacant office buildings and tenants pushing for lease renegotiations.
COMMENTARY / World
Sep 12, 2024
The Fed is making Hong Kong¡¯s billionaire landlords anxious
Many Hong Kong property companies have significant amounts of debt at floating interest rates tied to Hibor, which tracks the Fed¡¯s rate changes.
Wealthy Chinese shoppers are buying luxury goods in Japan to take advantage of favorable exchange rates, which is hurting European luxury brands' profitability.
COMMENTARY / Japan
Sep 8, 2024
Big Luxury frets that China is turning Japanese
Wealthy Chinese shoppers are buying luxury goods in Japan to take advantage of favorable exchange rates, which is hurting European luxury brands¡¯ profitability.
The ability of Xi Jinping's government to control China's industrial overcapacity crisis is limited, and stimulating domestic demand is difficult amid geopolitical tensions.
COMMENTARY / World
Aug 21, 2024
Xi¡¯s supply-side panacea has lost its magic
China¡¯s excess capacity problem will have to fester until even its industry leaders call it quits. That may be some years away.
The size of the carry trade strategy is hard to determine because currency transactions, unlike stock trades, aren't tracked on exchanges. We only have estimates.
COMMENTARY / Japan
Aug 14, 2024
How big is the yen carry trade, really?
There is now worry that the unwinding of yen-funded carry trades would wreck investors¡¯ frothy exposures to U.S. technology and AI-related companies.
Staff lower the Chinese national flag in the Central Financial District in Hong Kong in March. Hong Kong is an established trading hub for raising capital while Singapore excels in private wealth management.
COMMENTARY / World
Jun 19, 2024
Stop comparing Hong Kong to Singapore
Think of it this way: Hong Kong is where the Chinese can grow their wealth while Singapore is where they can preserve it.
Japan scientists identify clusters of protein believed to trigger Alzheimer¡¯s disease
A team of researchers said they found a ¡°seed¡± that accelerates the amyloid beta accumulation process in the brain, naming it ¡°Peak 1 amyloid beta,¡± as seen in a mouse's brain.
Indian brothers make manga debut in Japan
Two Indian brothers made their manga debut in Japan with "Kung Fu Kung Fool" ¡ª an action-comedy series that follows the adventures of a notorious thief and a young boy.
Japan weighs regulating Pokemon cards amid trading mania
A Pokemon event is held in Jakarta on July 11
Low-income families in Japan cut food and air conditioning during summer break
Yumiko Watanabe, the chairperson of nonprofit Kidsdoor, explains the results of a survey in Tokyo's Chiyoda Ward on July 1.
Iran strikes on CIA facilities prompt questions about possible Russian role
Iranian drones are displayed in an undisclosed location in Iran, in this handout image obtained on Jan. 13, 2025.U.S. officials have acknowledged that Russia has ?provided targeting ?and other support for Iran in its drone strikes on U.S. targets in the Persian Gulf region.
The sci-fi sensibilities of electronic trio Black Boboi
Black Boboi was formed in 2018 when solo artists Julia Shortreed, Utena Kobayashi and Ermhoi came together under Kobayashi¡¯s newly founded label, Bindividual.
A perfect storm: Kaze Fujii fans flock to Fuji Rock
Okayama-born singer-songwriter Kaze Fujii has carved out a distinctive place in Japanese pop since his major-label debut in 2019.
Can Japanese comedy get laughs in English? Yoshimoto Kogyo lets the jokes rip
Wes-P has millions of followers and his viral clips made him recognizable out of Japan.
The 180-day locals: Life on Japan¡¯s digital nomad visa
Christopher Flinn works remotely from Tokyo earlier this month. Japan issued 646 digital nomad visas in 2025, but tourism officials are hoping to increase that figure in the coming years, with Japan's relatively cheap cost of living and the weak yen seen as potential draws for young professionals.
Japan reveals hint of new defense spending target in fiscal blueprint
The Self-Defense Forces' Type 16 mobile combat vehicle fires during a joint live-fire drill with U.S. Marines as part of the annual Resolute Dragon exercises in Yufu, Oita Prefecture, on June 28.

Podcast

One of the many entrances to the Kabukicho neighborhood in Tokyo¡¯s Shinjuku Ward.
Kabukicho: Tokyo¡¯s ¡®stadium of desire¡¯

Longform

For many people, utility poles and power lines have become such a familiar part of Japan¡¯s landscape that they often go unnoticed.
Why Japan¡¯s utility poles won¡¯t be disappearing anytime soon
By Alex K.T. Martin

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