In this interview, Sean Maher (Investment Strategist, Entext) addresses the U.S.-China tech arms race, its impact on investor returns, and whether China’s strategies could redefine value creation in technology equities worldwide.

As the U.S. falters, emerging markets rise. That is the key message from Louis-Vincent Gave, founding partner and CEO, Gavekal.

The US-led global order of Pax Americana is being rebooted by the Trump administration and replaced by a multipolar world.

Many have concluded that the US is the promised land while Europe is a wasteland. While there are many reasons to be impressed by the US, investors should not disregard the Old Continent, Europe.

A more fragmented and regional world challenges previous global investment paradigms – and increases the need for active and forward-looking capital allocation.

Some investors have written China off. Some even consider the country uninvestable. However, many Chinese companies now lead their global sectors with promising prospects.

As passive investment continues to rise, market concentration and high valuations are expected to increase, leading to potential risks when trends reverse.

Equity markets globally reacted abruptly on Monday, 27 January, due to the introduction of the DeepSeek language model.

This paper discusses how passive investment strategies have driven the market narrowness and increased equity markets’ price inelasticity.

Magnificent Seven stocks dominated the stock markets in 2024, reaching a market value equivalent to 16% of the global economy.