Report

Middle East

The UAE–Russia Relationship

Why does the UAE maintain ties with Russia despite sanctions?This report explains their calculated cooperation through energy, finance, and realist geopolitics.
GOLD

Why Governments Hold Large Amounts of Gold

Why do governments and central banks hold so much gold?This report explains Ray Dalio’s view of gold as ultimate insurance against currency debasement and geopolitical risk.
GOLD

How Will the Dollar’s Dominance Change?

Will the U.S. dollar lose its dominance?This report explains how dollar power is eroding—not collapsing—through Ray Dalio’s Big Cycle, debt, and geopolitics.
Report

Is the United States in Decline?

A Macro Perspective on the U.S. Economy Through Ray Dalio’s “Big Cycle” FrameworkI. IntroductionWhy Does the Strongest E...
Japan

Japan’s Quiet Equilibrium

Why hasn’t Japan gone broke? Using Ray Dalio’s debt cycle framework, this report explains Japan’s high-debt equilibrium, monetary repression, and long-term risks.
Invest

The Choice Not to Break

Ray Dalio devotes a standalone chapter to Japan in How Countries Go Broke. This report explains why Japan avoided collapse—and the long-term costs of low growth, silent adjustment, and intergenerational burdens.
Japan

Long-Tail Risks of Monetary Tightening in Japan

This academic report analyzes the long-tail risks of Japan’s monetary tightening, focusing on structural uncertainty, expectations, fiscal sustainability, and global spillovers.
Japan

Macro-Financial Stress Scenarios Following

Japan’s interest rate normalization may trigger credit tightening, yen volatility, and global spillovers. A macro-financial risk analysis for policymakers and investors.
Japan

The Nature of the Shock to the Japanese Economy from Rising Interest Rates

Japan’s interest rate hike marks a structural shift, not a financial crisis.This economist’s report explains the real shock, sector impacts, and long-term implications for growth, yen dynamics, and fiscal discipline.
GOLD

Global Reserve Currency Outlook

This analysis explores how the U.S. dollar is transforming amid rising fiscal burdens, the weaponization of finance, U.S.–China strategic rivalry, and amplified global liquidity cycles. A must-read for economists and institutional investors.
China

Japan–China Political Tensions Intensify

Japan and China entered a new phase of political tension following a dangerous radar lock incident and Beijing’s suspension of cultural exchanges. Our analysis explores military escalation risks, Taiwan-driven strategic friction, and consequences for global markets and supply chains.
Global Economy

Geopolitical Macro Strategy Report

How the EU–G7 maritime sanctions on Russian oil could spark a new inflation cycle, drive oil above $130, disrupt shipping insurance, and shift global monetary policy. A must-read geopolitical macro strategy report.
Global Economy

🌎Geopolitical Reconfiguration in Iraq’s Oil Sector

This report explains why the U.S. is targeting Lukoil’s Iraqi assets, how sanctions are transforming Middle Eastern energy geopolitics, and what it means for Asia.