BlackRock has rejigged its Asia-focused portfolios to have more neutral positions on China, up from underweight, and narrowed its underweight call on internet services companies.
Rechin La was a tactical success and a strategic warning. It exposed a system where political leaders seek control without defining boundaries, leaving commanders to assume strategic responsibility.
This is the game every nation is now learning to play. Some are finding new allies or seeing value among nations where they’d seen marginal interest. The starkest example is India & Europe.
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