The common story of modern China’s development is that it has two ages: Mao, and reform.

The truth is there are at least six internally coherent economic eras within the country’s journey from basket case to superpower. Each with their own rules and obsessions.

That’s certainly the view of Philip Pilkington, who has been crunching the deep data on the Chinese economy, in a new paper for Eurasia Magazine.

This week, in an hour long special, Andrew Collingwood quizzes him on the particularities of these periods: from the black-and-white-cats of Deng, to the red-in-tooth-and-claw market mercantilism of Hu Jintao, up to Xi’s property sinking funds and robot army.

As Philip argues, most US Republicans still imagine that the central danger of China is that it trades unfairly - in truth, the country has moved on from that point on the global value chain.

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Would every company be affected if the AI bubble were to burst? That’s what Sundar Pichai, the head of Google's parent firm Alphabet reckons.

The facts are startling, with the crypto market shedding more than $1tn in six weeks amid fears that the bubble may just go pop. With bitcoin price at its lowest level since April and the FTSE 100 falling, the guys at the top still say they absolutely do NOT think there’ll be a burst. That normally goes well right?

In UK News, Philip has started somewhat of an X meltdown. He reported that British abortion rates as a % of pregnancies are exploding in spite of recent innovations in contraception. Warning that this a major signal that something is deeply wrong in the economy. Is Britain heading to an almighty demographic crash-out, leading to an immigration boom?

Meanwhile in Mexico, after thousands of demonstrators marched in the capital on Saturday to protest against violent crime President Sheinbaum has again dismissed Trump’s threat of sending in US troops. Sheinbaum said the marches, which also took place in other cities, had been funded by right-wing politicians who oppose her government. 

Could the US be trying to encourage a colour revolution? While Trump continues to keep eyes on his armada in the southern Caribbean, close to Venezuela, who’s to say? And would it even work?

Still hungry for more?

Philip sat down to converse with Jacques Sapir, a leading expert on the Russian economy, and part of the Institute of Economic War in Paris, to chat all things Russia, for the Danube Institute. Thoroughly recommended, you can watch here: https://youtu.be/5raqAVEOWXU

Remember you can get special paywalled premium episodes of Multipolarity every month on Patreon: https://patreon.com/multipolarity or by becoming a member on our YouTube Channel (just click Join).

Multipolarity Dialogues is a series of interviews that scan the geopolitical horizon. We talk to some of the sharpest analysts, thinkers, and experts about how they see the world beyond the visible edge of the geopolitical now.

The Middle East is as violent and fractious as ever. Now the questions that arise from that violence appear more important than ever. Israel seems to want to end the chaos in a way that provides it with military dominance over the region and some semblance of peace. 

But can it achieve this or even survive for much longer? Given the scale of enmity it faces in the region and the recent shifts in US domestic politics. 

What of Egypt, which has been since the Second World War, the dominant military power within the region? 

And are we seeing the reemergence of Turkey to its traditional place as regional hegemon?

Well, to answer these questions we have Firas Modad joining us.

Firas is a Druze Lebanese convert to Catholicism, who now lives and works in the UK. As founder and principle of Modad Geopolitics, a consultancy which provides commercially relevant analysis of the effect of geopolitical change on specific regions and industry sectors. 

Firas for some years now, has been a mainstay geopolitical commentator on the podcast circuit and indeed hosts his own podcast, Realpolitik, within the burgeoning Lotus Eaters ecosystem.

This week, the Lads are taking the sword to Trump’s big deal with China. 

The South Korean talks were heralded by both sides as a breakthrough. 

They reached agreements on US soybean exports, the supply of rare earth minerals, and the materials used in production of the drug fentanyl. They managed to resolve the Nexperia crisis by means of a simple volte face. 

But in an era where trade deals tend to come and go, Andrew and Philip are picking this one out as significant. A moment where the Trumpists have had to bend the knee to the rising power, and thereby, set out the trajectory of the next decade. 

Is this The Sorpaso? 

To listen in full to this hour long special, you’ll need to go to Patreon, and pay Andrew and Philip 5 £ $ €. Just google Patreon + Multipolarity.

This week: Halloween Fright Night on Multipolarity. 

We’re taking various geopolitical doomsday scenarios, and running through how they would play out, in full ghoulish detail. 

From Britain disintegrating, to America crashing the global economy, to Forever War on the Eastern Front. 

And stay tuned for an extra special guest… The Headless Norseman himself, Malcom Kyeyune.

Remember you can get special paywalled premium episodes of Multipolarity every month on Patreon: https://patreon.com/multipolarity or by becoming a member on our YouTube Channel (just click Join).

This week: two audio essays.

Peace is coming to Budapest… whether you believe it or not. So says Philip Pilkington, our man on the ground. 

The show may be paused, but that doesn’t change the fundamentals: Trump and Putin need a meeting; they need a venue; the Russian President can’t be arrested on sight. And Hungary’s nous in positioning itself as a true neutral makes it the ideal venue. He talks through the implications of the next phase of bargaining. 

Meanwhile, from the front pages to the middle of the paper: Andrew Collingwood says that we’re missing a really big story on Nexperia. The Dutch chip maker is now owned by the Chinese, and has become a resource allocation geopolitical football of late. 

Volkswagen has warned of temporary production outages citing China’s export restrictions on semiconductors made by Nexperia.

In response, the Dutch government has intervened to take control of Nexperia’s governance under national security laws.  

He warns that Europe could be sawing off the branch it sits on.  If they steal Russian sovereign reserves – and at the same time go around stealing Chinese businesses is Europe even investible anymore, is using the Euro and sterling even possible anymore for third countries?

Remember you can get special paywalled premium episodes of Multipolarity every month on Patreon: https://patreon.com/multipolarity or by becoming a member on our YouTube Channel (just click Join).

About a month ago, the foreign affairs and geopoltical media was abuzz with talk about the Victory Day military parade in Beijing. What had shocked was that, unlike the standard communist bloc military parades, with their thousands of Soviet-style tanks and armoured personnel carriers and well trained goose-steppers, this one showcased weaponry that could have come from a science fiction film: mobile, directed energy laser weapons; hypersonic glide vehicles; futuristic looking, fighter jet sized, loyal wingmen stealth drones; robot wolves; space defence systems.

But was it real, or just a Potemkin arsenal driving past the Forbidden City? And if they were real, what do these things actually do? What do they mean for the balance of power in the western pacific? And, finally, as China climbs at breakneck speed up the military tech ladder, what does it mean for Washington's efforts to hold its defensive perimeter at the first Island Chain?

Anybody interested in China's military tech, and especially its military aviation, will know TP Huang, an invaluable provider of detailed analysis on Beijing's ever greater military arsenal, and China's Beijing's technological progress more generally. He joins us for a special interview with Andrew. 

Multipolarity dialogues is a series of interview that scan the geopolitical horizon. We talk to some of the sharpest analysts, thinkers and experts about how they see the world beyond the visible edge of the geopolitical now.

Remember you can get special paywalled premium episodes of Multipolarity every month on Patreon: https://patreon.com/multipolarity or by becoming a member on our YouTube Channel.

If you’re an enterprising nine year old looking to top up your pocket money, get yourself a bar of bullion. Gold is up to $4000 an ounce for the first time ever – while the dollar is down ten per cent on the year. The biggest drop since, well, since the gold window closed in 1971. Dedollarisation will always mean something-else-isation — this week’s rally seems to be the latest shake out. 

Between 2021 and 2027 the EU budget for NGOs was around €1.5bn. The new EU budget proposal is advocating increasing that 600%. While America now thinks that USAID is outdated political technology, the EU is trying to buy the dip.   

Finally, we’ll have an update on three countries teetering on the brink: France, The Philippines and Georgia. Could the third world quasi-dictatorial basket case on that list actually topple over? And what about the Philippines? 

You can get special paywalled premium episodes of Multipolarity every month on Patreon: https://patreon.com/multipolarity

Welcome to Multipolarity Dialogues –  a series of interview that scan the geopolitical horizon. We talk to some of the sharpest analysts, thinkers and experts about how they see the world beyond the visible edge of the geopolitical now.

On this episode: Anusar Farooqui. Like the public intellectual equivalent of a DC comics superhero, Anusar lives a double life. By day he’s a man who wrote his PhD research on the geometric noise arising from black hole rotation, and went on to found Systematic Portfolios, the New York hedge fund he currently leads as CEO. 

By night, he is Policy Tensor the writer of a highly regarded Substack that focuses on international relations, grand strategy and economics. Policy Tensor was one of the few analysts to argue in 2022 that the Russian economy was far stronger than commonly believed – in other words, that sanctions would fail.

He joins Multipolarity with another warning – about an even greater danger, arguing that the United States might be preparing for the wrong war against China.

We will be looking at the big picture strategic position between the US and China – the Thucydides Trap – and why Xi Jinping might take an entirely different route to win back Taiwan. 

Modern Monetary Theory. Magical Money Tree. 

Whichever name you know it by, everywhere, these days, the intellectual salons hum with people trying to say that they’ve invented that most terrifying of things: a new paradigm. That they have the economic equivalent of Einsteinian Relativity. 

These people profess that debt is no issue. That a country that prints its own currency can’t go broke. And rather, that by a canny toe-heel on the brakes, countries can juice their economies without slamming into a wall.  

This week, after talking around the topic on any number of previous episodes, we’re tackling MMT head-on, in an hour long special edition.  

Andy Collingwood is grilling Philip Pilkington, who claims to have been there at the birth of modern monetary theory in 2013 — and asking him whether there is much more here than a placenta, some hair and three teeth.    

The answer, it transpires, is yes and no. MMT does indeed represent a new vein of insight. But that insight is only partial. Misapplied, it is as catastrophic to a monetary system as liquid Robert Mugabe.  

So join us, on a journey, to a magical money tree not so far away…

You can get special paywalled premium episodes of Multipolarity every month on Patreon: https://patreon.com/multipolarity