Signal
One signal from the markets, economy, or state — read for what it reveals about power.
11 June 2026: The License as Chokepoint
Tightening export licences turned Chinese battery‑metal supplies into chokepoints. The note shows how the licence itself becomes the weapon, making critical minerals unobtainable and highlighting the urgency of diversification.
9 June 2026: When Productive Capacity Becomes Security Strategy
The Pentagon’s list of Chinese military companies now includes tech and EV firms, showing productive capacity itself is being treated as a security target and blurring commercial with military.