Executive Summary: Key officials visited the Hong Kong Special Administrative Region (HKSAR) in late August to explain the city’s political, economic, cultural, and security responsibilities. They signaled deeper integration with the People’s Republic of China (PRC) mainland while leveraging its unique international position. Hong Kong... MORE

Executive Summary: The Supreme People’s Court and Central Government Regulators have put State-owned Enterprises (SOEs) on notice for fraudulent accounting practices, releasing five case studies to name and shame bad actors. The Central government made clear SOE fraud carries both economic risk and reputational risk... MORE

Executive Summary: Western sanctions, heavy losses in Ukraine, and short-sighted Kremlin policies have put serious strain on the Russian economy, even if Moscow has managed to weather the storm in some sectors.  The Russian economy is grappling with significant structural issues, including dwindling economic reserves,... MORE

Executive Summary: Rostec, Russia’s state-owned military-industrial corporation, revised its financial data for 2023, initially presented in May, and handed over this new data to Russian President Vladimir Putin on July 30. The update shows a decrease in total revenue, arms manufacturing revenue, civil products revenue,... MORE

Executive Summary: Moscow has reacted angrily to Japan’s agreement with the United States to set up a joint military command to counter Russian, Chinese, and North Korean moves. Russian commentators see this action as threatening Tokyo’s commitment not to use force offensively. This reaction builds... MORE

Executive Summary: New Economic and Technology Development Zones (ETDZs) in the Tibet Autonomous Region (TAR) are focused on pockets of the Han population, which will exacerbate tensions within the region. The Tibetan economy is already largely under Han control (except for in the agriculture and... MORE

Executive Summary: The Resolution from the Third Plenum focused primarily on economic reform but reinforced the Party’s existing strategy rather than announcing a change in overall direction. The Resolution does nothing to mitigate concerns about the real estate sector, weak domestic demand, subsidized export-oriented manufacturing,... MORE

Executive Summary: Russia’s State Statistics Agency, Rosstat, reported increased growth in arms manufacturing industries during the first half of 2024. However, this growth is less impressive when considering physical manufacturing data as it is dependent on ruble prices. Russia was only able to increase the... MORE

Executive Summary: Russia currently has the largest fleet of icebreakers in the Arctic. Its lead over others, however, is somewhat deceptive as most are small and devoted to clearing ice from harbors rather than keeping the Northern Sea Route open. The United States, Canada, and... MORE

Executive Summary: Mongolia is engaging in efforts, including bilateral negotiations and official visits, to improve relations with Kazakhstan, Kyrgyzstan, and Uzbekistan following a long period of stagnant foreign policy toward Central Asia. These states share a Soviet legacy, resource extraction-oriented economies, and similar geopolitical and... MORE