In the last 6 months, the People’s Republic of China (PRC) has increased its aggressive actions targeting Taiwan. These include military provocations, infiltration operations, and gray zone activities. In his 2024 New Year’s Eve address, PRC President Xi Jinping reiterated the Chinese Communist Party’s (CCP)... MORE

Executive Summary: Celebrations for the 80th anniversary of the Great Patriotic War were used to reinforce Russian President Vladimir Putin’s personal authority and militaristic agenda, recasting Russia’s war against Ukraine as a continuation of heroism from World War II. Ukraine rejected Putin’s three-day ceasefire initiative... MORE

Executive Summary: Russian President Vladimir Putin and People’s Republic of China President Xi Jinping showcased deepened political and military ties during Russia’s May 9 Victory Day celebrations, affirming a shared global vision through strategic declarations on stability and international law. Their joint statements emphasized sovereignty,... MORE

Executive Summary: The People’s Liberation Army (PLA) is rapidly expanding its arsenal of high-power microwave (HPM) weapons as part of its broader strategy to achieve dominance in the electromagnetic spectrum. Recent breakthroughs—including the deployment of mobile-platform HPM systems—signal the PLA’s intent to integrate these capabilities... MORE

Executive Summary: Recent infiltration cases indicate that the Chinese Communist Party (CCP) has significantly intensified non-military espionage operations targeting Taiwan’s military, demonstrating strategic diversification beyond traditional military threats. Data reveals a sharp rise in prosecuted espionage cases over 2021–2024, with military personnel (active and retired)... MORE

Executive Summary: Hong Kong’s IPO market is on track for its strongest year since 2021, raising $2.3 billion in the first quarter of 2025—driven entirely by PRC-based companies. Consumer brands like Mixue and Guming led the listings, benefiting from Beijing’s stimulus measures and public enthusiasm... MORE

Executive Summary: Beijing is expanding global logistics infrastructure under the direction of its military-civil fusion agenda, enabling commercial assets to serve national defense needs. Logistics companies with ties to the People’s Liberation Army (PLA) have built extensive networks overseas, including in the United States and... MORE

Executive Summary: Beijing cannot and will not replace the United States’s former role in overseas aid, but it will seize opportunities to portray itself as playing a leading role where doing so aligns with its own programmatic interests. The PRC views international aid differently to... MORE

On May 1, Ukraine and the United States signed a long-anticipated minerals deal providing the United States with preferential rights to mineral extraction in Ukraine. The agreement creates a U.S.-controlled, jointly-managed investment fund that will receive revenues from new projects in critical minerals, oil, and... MORE

Executive Summary: On April 22, Azerbaijani President Ilham Aliyev conducted a state visit to the People’s Republic of China (PRC) to strengthen Azerbaijan’s role as a transit hub between the PRC, Central Asia, and Europe and expand the Azerbaijan-PRC partnership to new spheres. Azerbaijan–PRC cooperation... MORE