China's Military Parade
Wednesday, Sept 3rd, 2025
World New - China’s Military Parade
Bloomberg
China’s latest military parade in Tiananmen Square, hosted by President Xi Jinping and attended by global leaders like Vladimir Putin and Kim Jong Un, showcased a formidable display of weaponry including cutting-edge missiles (DF-5C, DF-61, JL-3), hypersonic systems (YJ-17), directed-energy weapons (LY-1), robot dogs, and advanced aircraft such as the stealth J-20 fighter, all part of Xi’s push to accelerate the development of a “world-class” military; the event also saw a symbolic release of 80,000 doves, a notable drop in defense and broader market stocks, and statements from former President Trump accusing Xi, Putin, and Kim of conspiring against the US, underscoring the growing geopolitical tensions and technological ambitions on display.
Tech - Google Avoid Chrome Breakup In Anti-Trust Case
Bloomberg
A Washington, DC court ruling has dealt a partial blow to Google by barring it from entering exclusive search distribution contracts, while still allowing the company to pay partners—most notably Apple, which receives billions to feature Google as the default search engine—thus falling short of the broad antitrust remedies sought by federal enforcers; Judge Amit Mehta also ordered Google to share some search data with competitors to stimulate market competition, restricted the company from bundling all its apps with the Play Store, and mandated annual changes to default search settings, but notably rejected forced divestitures and a blanket payment ban, sending Alphabet and Apple shares sharply higher as the tech industry braces for lasting impacts and potential blueprints for future antitrust cases.
Economics - EM Equity Compass
Citi
Citi Research’s latest EM Equity Strategy Compass argues that emerging markets equities have rebounded well since President Trump’s tariff pause, particularly in tech sectors riding the AI boom, but warns that although peak tariff risk may have passed, fundamental headwinds persist, including a projected 5-point drag on MSCI EM EPS growth for 2025 due to tariffs; meanwhile, the AI trade remains a powerful driver, benefiting Taiwan, Korea, and China, and the continued depreciation of the US dollar is expected to support EM equities—especially in countries like Poland, South Africa, Brazil, and South Korea—though longer-term dollar trends and diversification away from US stocks remain uncertain as investors weigh the potential for renewed flows back to Wall Street or the next wave favoring EM markets.
The Daily Spark
Sales by European companies in the US are about eight times bigger than US goods imports from Europe. Similarly, US companies’ sales in Europe are dramatically higher than European goods imports from the US.
The bottom line is that the US and European economies are not only linked via goods trade but also via sales of European companies in the US and sales of US companies in Europe.
Quote of the Day
You must have chaos within you to give birth to a dancing star.” ― Friedrich Nietzsche