China’s techno-industrial strategy: resilience
Plus: US inflation, market mood, bear flattening and more
“I am not young enough to know everything.” – Oscar Wilde ||
Hello everyone, and happy Friday!!! For numbers nerds out there, in European date format, today is 26062026 – a kind of twisted symmetry, sure, but I think it’s cool.
Apologies for the late send today! I can only attribute it to Friday brain fog.
PUBLISHED IN PARTNERSHIP WITH: ✨ ALLIUM ✨
Allium’s first State of Onchain Finance is out!
Using Allium data, it frames the expansion of onchain finance with numbers and charts, showing how much of stablecoin volume is real activity, where that activity is happening, the evolving use cases, the spread of tokenization across chains, the role of weekend markets and much, much more.
→ Read the full report: https://allium.so/reports/state-of-onchain-finance-q2-26
IN THIS NEWSLETTER
China’s techno-industrial strategy: resilience
Macro: PCE clouds
Markets: feeling wobbly
Term of the day: Bear flattening
Podcast episode recommendations
Crypto is Macro Now offers ~daily commentary and updates on the overlap between the crypto and macro landscapes. Plus links and more.
If you’re a premium subscriber, thank you so much!! ❤
WHAT I’M WATCHING:
China’s techno-industrial strategy: resilience
Earlier this month, the RAND Corporation – the US Department of War’s main think tank – published a new report titled “China’s Techno-Industrial Strategy in the Xi Era”.
It weaves a complex web of connections between the Party and the economy, between finance and industry, between local governments and overseas partners – and attempts to both classify and unify the overarching strategy into a techno-industrial road map. No easy feat, and I can’t tell you whether or not the organization pulls it off because my interest was focused on one particular section of the (quite long) paper: the Digital Silk Road.
No surprise, it ties in with what I’ve been writing about over the past few days: China’s global governance policy, and the US Pax Silica initiative.
