Tom Holland

Tom Holland

Deputy Global Research Director

Tom helps to steer Gavekal’s global research, with a special focus on geoeconomics and energy markets. Before joining Gavekal in 2014 he worked as an analyst and commentator at media organizations including CNBC, The Wall Street Journal and the Far Eastern Economic Review, earning his spurs as the lead foreign exchange analyst for Dow Jones during the 1997-98 Asian currency crisis. He originally started his working life as an exploration geologist, until a collapse in commodity prices forced him into journalism as the traditional refuge of the otherwise unemployable.

Tom Holland's Articles

Selected research

Geoeconomic Monitor: Working On Credibility
27 Oct 2025
President Donald Trump arrived in Malaysia on Sunday for an Asian swing that will include his first second-term visit to an Asean summit and a meeting with Chinese president Xi Jinping where he will probably sign a trade-war truce. Yet Tom Miller contends he will have a hard time restoring the credibility of the US strategic commitment to Southeast Asia. Tom Holland considers another test for US credibility in the shape of new oil sanctions on Russia, which markets seem to think will be ineffective.
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Sanctions And The Oil Price Spike
23 Oct 2025
Donald Trump’s decision Wednesday to slap sanctions on Russian oil majors Rosneft and Lukoil came as a sharp reminder that geopolitical risk cannot be dismissed entirely, driving the price of Brent up 8.3% from Monday’s low. Tom argues that short-term volatility might spike, but it is doubtful whether the latest round of sanctions on Russian oil exports will lead to any durable rise in the price of international oil benchmarks.
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Geoeconomic Monitor: A Fragile Peace, A Shaky Trade Deal
Geoeconomic Monitor: A Fragile Peace, A Shaky Trade Deal
Tom Holland, Arthur Kroeber, Laila Khawaja
10 Oct 2025
In this week’s Geoeconomic Monitor, we analyze the implications of the fragile Israel-Hamas ceasefire for Red Sea shipping, and try to figure out why China decided to expand its export controls on rare earths just as Xi Jinping gets ready to meet Donald Trump at the end of the month.
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