Videos

Xi Jinping wants the renminbi to become a global reserve currency. That’s going to be tough as long as China operates capital controls, and there are few offshore renminbi assets for reserve managers to buy. One suggested solution is to make all Hong Kong listed equities tradable in renminbi. In this interview, Louis-Vincent Gave looks at how this proposal could work, and what it would mean for investors in Hong Kong’s financial markets.

In five years, China has greatly reduced its reliance on property and supporting industries as a driver of economic activity. While the building binge continues to cast a pall over the wider economy, the Chinese stock market has the “old economy” property sector in the rear-view mirror and is fully pricing in “new economy” industries built around advanced manufacturing and the energy transition.

The long rallies in gold and crypto from 2023 to 2025 were to a large extent driven by the US debasement trade. With recent market moves suggesting that these trends may now have run their course, Will Denyer digs into the underlying dynamics to examine whether the debasement trade is really over, and if so what this means for broader asset markets.

US President Donald Trump wants to make US housing more affordable and so assuage voter discontent ahead of November’s midterm elections. In this video interview, Kai Xian assesses measures that the administration has already tried or mooted, as well as others that could be on the docket. He considers what these might mean for housing activity and for the homebuilding industry.

In late January, Keir Starmer paid his first visit to China as UK prime minister, proclaiming his desire for “a more sophisticated relationship” between London and Beijing. In making his trip, Starmer becomes the latest middle-power head of government to head to China bearing a conciliatory message as relations with the US deteriorate. In this video interview, Tom Miller explores how this attempt at geoeconomic derisking could play out, and examines what it all means for global investors.

After Europe’s benchmark price for natural gas spiked by 40% between the first and third weeks of January, Cedric Gemehl examines the state of the continent’s gas stores, asks where European countries can source additional imports, and considers the longer term questions raised by Europe’s energy insecurity.

Human resources stocks are a niche corner of the US equity market that most investors will rarely focus on. However, Kai Xian thinks they are offering up useful signaling information about a range of macro factors which are currently causing big changes to the US labor market.

France accounts for around a quarter of outstanding sovereign debt in the eurozone and continues to be plagued by political instability. Over the Christmas break, the French government tried and again failed to pass a national budget. The worry is that such uncertainty starts to undermine economic confidence and tip the economy into a recession. Cedric acknowledges these risks but in this video explains why he thinks that France will not upset the European apple cart.

After two national guards were tragically shot by an Afghan national near the White House, the Trump administration has again tightened its immigration policy. The issue is that this stance comes with economic costs and potentially threatens the government’s stated aim of reindustrializing the United States. In this video interview, Tan Kai Xian explains how US policymakers will likely manage that balancing act.

In today’s Daily, Louis cited global consumer staple stocks as one of a few potential contrarian trades for 2026. Will takes a similar view and in this video explains five catalysts that could lead to US consumer staples outperforming in the coming year—and thereby breaking a long cycle of underperformance.

The Xi-Trump meeting October 31 in South Korea left a wake of positive vibes, but also a lot of unanswered questions: exactly how much the US and China will really roll back their respective export controls on semiconductors and rare earths, whether the dispute over Nexperia's ownership will be resolved, and most important, how long this latest truce in the US-China tech competition will last. In this webinar, Arthur Kroeber and Gavekal Technologies research director Laila Khawaja discussed the latest twists and turns.

A year ago, Alexandre Larrain and Louis-Vincent Gave, sat down to discuss the opportunity in Latin American debt markets. Since then, the region's most important bond markets have rallied and important elections are set to occur in Chile, Colombia, Peru and Brazil. Against this backdrop, is the opportunity set in Latin American debt still attractive? Alexandre and Louis discussed these issues and other questions in this Latam Debt webinar.

How durable is the US’s artificial intelligence-driven boom and associated equity bubble? Will Denyer sought to answer this question and suggested investing strategies. Kai Xian covered three initiatives being pursued by the Trump administration—immigration control, reindustrialization and national security policy—and assessed their investment implications.

In Gavekal’s London conference last week, partners and analysts covered a wide range of topics across five panels: China and emerging markets; the potential end of US exceptionalism; a fireside chat with Charles Gave; trade and technology wars; and investment strategy.

China's equity markets have gone on a renewed tear since July—just when its economic data started to soften. The disconnect between macro and markets has only widened since then, with local traders getting more excited and economists more concerned. Our China team assessed the changing landscape.

Dan Wang, who was Gavekal's technology analyst for six years, has just published an important book, Breakneck: China's Quest to Engineer the Future. He joins Gavekal head of research Arthur Kroeber in a conversation about China's technological progress and competition with the US, and argues that the engineering mindset of China's government is why the country has become the world's undisputed manufacturing superpower.

The global inflationary boom for the moment remains well set, with both monetary and fiscal settings in most economies remaining loose to very loose. The result is that equity markets continue to trend higher but in an increasingly differentiated pattern. At the same time, the fundamentals for OECD bonds remain terrible and investors are thus engaged in a desperate search for solid stores of value. Our panel reviewed the macro situation and explored viable asset allocation strategies.

Laila Khawaja joins Arthur Kroeber in a conversation about the many facets of the growing US-China technology rivalry. Topics include the question of who is winning the AI race, the politics of Nvidia's chip sales in China, the significance of the deal apparently struck this week to sell TikTok to US owners, and whether Trump and Xi can forge a bigger trade and tech agreement later this fall.

The US economy looks to be at an inflection point with the labor market softening and upward price pressures fading. Unnerved by tariffs early this year, investors seem persuaded that they will not spark a rapid spike in inflation. All the while, the future of the Federal Reserve as an independent institution is in play. Our panel pick through these key topics that are likely to dictate market action in the coming weeks.

So far in 2025, the US economy has defied all the worst-case forecasts of looming stagflation. In this Gavekal webinar, US economists Will Denyer and Tan Kai Xian assess the strength and depth of this apparent Goldilocks dynamic, consider the impact of the newly passed Big Beautiful Bill on the US budget, and discuss the implications for financial markets. Gavekal head of research Arthur Kroeber offers updates on the tariff war latest.