Videos

The open-source artificial-intelligence agent OpenClaw has become wildly popular in China and the wider AI world. In this interview, Tilly dissects how OpenClaw plays to the advantages of Chinese AI developers, and its implications for the economics of AI in China—as well as how it might encourage greater take-up of Chinese AI models more broadly.

It is not just US retail gasoline prices that have risen since the start of the Iran war. Long-dated US treasury yields are also up, which implies higher interest rates for new mortgage loans. In this video interview, Tan Kai Xian assesses the impact on US housing affordability and examines whether the US government will implement damage control measures.

Over the last week, voters have cautiously backed centrist politicians in a series of European elections. The process of political fragmentation has hardly reversed in Europe, but many voters are seeking practical answers to difficult questions at a time when Europe feels besieged in both strategic and economic terms. In this interview, Cedric discusses what this more realistic mood means for European Union integration.

Thursday saw an awkward meeting between Japan’s prime minister Sanae Takaichi and US president Donald Trump in the White House. The east Asian powerhouse wants to stay out of the US-led war in Iran but is massively reliant on gas and oil imported from the Persian Gulf. Udith explores the dilemmas faced by Japan’s policymakers, as they seek to weather an energy shock without sparking an adverse stagflationary economic cycle.

Since the United States-led war against Iran started, US assets have received a safe-haven bid. This reverses a narrative that had taken hold among global investors before the outbreak of hostilities to sell an increasingly unreliable America. The argument had developed that the US was proving a bad partner and pursuing currency debasement policies. In this video interview, Kai Xian discusses whether such a “sell America” trade had ever actually started and, looking through this war, what happens next to capital flows.

For Emmanuel Macron, jointly issued European Union bonds is an idea whose time has come. For Friedrich Merz, however, broad mutualization of European public debt remains a step too far. What is interesting is that despite these predictable positions in Paris and Berlin, a growing logic may nonetheless be pushing Europe toward larger-scale EU bond issuance.

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.

The United States' capture of Venezuelan president Nicolás Maduro threatens a full rupture of the already severely frayed rules-based international order. In this webinar, our team assessed the economic impact of a world dividing into competing spheres of interest and ask what this means for financial markets, especially energy and commodities.

To close out the year, Gavekal’s three founding partners convened to discuss the investment environment heading into 2026. Asset allocators must ponder where the US-China technology rivalry goes from here and whether the two economies can reconcile their differences, if the US consumer can stand up to the pressure, and the relative appeal of emerging markets in regions like Latin America.

Europe’s economy has been hit by a series of external shocks since emerging from Covid lockdowns but seems to be finding a new dynamic through a strengthening domestic investment cycle. In this webinar, Cedric and August explore what this means for growth, inflation and monetary policy. They also outline how this informs their views on the euro and eurozone bonds and equities.

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.