Ng Kum Hoon

People walk on a footbridge with a screen displaying the treasury bond futures index at the financial district of Lujiazui in Shanghai on 1 June 2026.(Hector Retamal/AFP) China’s banking sector is undergoing a profound transformation. At the 2023 Central Financial Work Conference, it was explicitly stated for the first time that financial work must uphold its “political and people-oriented nature” (政治性、人民性).

US President Donald Trump departs after speaking at an event inside Eugene Levy Fieldhouse at Rockland Community College in Suffern, New York, US, 22 May 2026.(Michael Nagle/Bloomberg) The US-led international order is unravelling. While much of the disruption is often attributed to the perceived arrogance and missteps of US President Donald Trump and his team, deeper structural forces are also at work.

Gulls fight for space on a public binocular, in front of container ship MSC Idania docked at the Port of Felixstowe in Felixstowe, Britain, on 17 February 2025. (Chris J. Ratcliffe/Reuters) A thawing Northern Sea Route (NSR) is forcing a rethink of global shipping, promising shorter voyages and lower costs.