Today

Barrel vault: a Nigerian refining giant rises

Nigeria sorely needed the enormous oil refinery built by Aliko Dangote, who was already Africa’s richest man. We ask what that new capacity means for him, for Nigeria and for the continent. We speak to the surprisingly large and diverse Iranian diaspora in Los Angeles. And how a ... Show More

21m 4s

Yesterday

Let me get this strait: the Iran-war escalation risk

Control of the Strait of Hormuz has become the focus of the war in Iran. The options available point to an acute risk of a broadening regional conflict. China is making great strides in building humanoid robots—but so far they are more about entertainment than utility. And a look ... Show More

23m 9s

Mar 13

Lone goals: will US-Israel war aims diverge?

As Israel continues to pound Iran and expands its offensive against Hizbullah in Lebanon, there are rumblings of disunity with America over the path and goal of the conflict. Why now is the time to buy rubbish stocks. And celebrating the life of grand-clown Philippe Gaulier. Gues ... Show More

25m 22s

Oct 2025

The great brawl: China is winning the trade war

This weekend American and Chinese officials are meeting to try and ease tensions over trade after China’s recent decision to restrict rare-earth exports. How has China gained the upper hand? Anxiety about screen time is focused on young people, but the elderly are addicted to dev ... Show More

23m 20s

Nov 2024

The Peking order: Can China’s army surpass the US?

China is enacting a rapid project of military modernisation. Though in some areas its forces are already stronger than America, that does not mean China is ready for war. Why luxury shoppers are no longer buying so much online (10:16). And remembering Balthazar Uscha, Ecuador’s l ... Show More

24m 9s

May 2025

Duty falls: US and China reach a deal

Tariffs against China were the centrepiece of Donald Trump’s “Liberation Day” trade plans. Our correspondent explains the significance of a new 90-day hiatus. Will Ukraine and Russia come to the negotiating table this week (7:51)? Why new techniques to compress the contrast betwe ... Show More

21m 41s

Oct 2024

Yuan for the money: China stimulates its economy

After years of slowing growth, the Chinese government is finally attempting to bolster consumer demand, business confidence and the stock market. Our correspondent analyses the surprise shift in policy (10:25). How will immigration policy play with swing voters in Arizona? And Sa ... Show More

26m 54s

Apr 2025

The great brawl: China v America

Donald Trump is now aiming his trade war squarely at China. As the tit-for-tat tariff battle keeps escalating, investors are fleeing to safe assets. What will happen next? Germany’s Friedrich Merz finally signs a deal for a coalition government (10:12). And remembering Betty Webb ... Show More

26m 45s

Sep 2025

Sino-the-times: China gathers global allies

World leaders flocked to China this week for an international summit followed by a giant military parade commemorating the end of the second world war. Xi Jinping is capitalising on the chaos of Donald Trump’s second term. AI is helping fraudsters and hackers become more producti ... Show More

21m 17s

Jul 2024

China Is Exporting Unemployment | Michael Pettis on Global Trade Imbalances, American Capital Controls, and the End of The Chinese Growth Miracle

Forward Guidance is sponsored by VanEck. Learn more about the VanEck Morningstar Wide MOAT ETF (MOAT) at https://vaneck.com/MOATFG. Follow Michael Pettis on Twitter https://x.com/michaelxpettis Follow VanEck on Twitter https://x.com/vaneck_us Follow Jack Farley on Twitter https: ... Show More

1h 31m

Sep 2025

Fortunes of war: is Russia’s economy slowing?

The collapse of Russia’s wartime economy has long been foretold, yet massive fiscal stimulus has compensated for the effect of sanctions. Though the pinch is now being felt, the labour market is surprisingly resilient. Protesters in China are getting more creative. And why car to ... Show More

23m 30s

Nov 2025

The little green look: China’s energy revolution

America has boycotted this week’s COP climate talks, but China has sent a giant delegation. The world’s biggest polluter is increasingly pivotal to tackling global warming. Why young protesters around the world brandish a pirate flag. And since sports leagues cannot stamp out pir ... Show More

22m 27s

Apr 2025

Tariffs, tensions, and trade: Trump’s gamble on China

Two weeks after Donald Trump’s sweeping tariff announcement shook global markets, he has now offered most countries a 90-day reprieve—while simultaneously escalating trade tensions with China by imposing harsher penalties. So far, China has responded by matching each tariff hike ... Show More

30m 26s

The great brawl: China is winning the tr...