The newest research from the Federal Reserve Bank of New York confirms what every serious economist already knew: tariffs function as a domestic tax, and American households and businesses pay almost all of it. Between early 2024 and late 2025, roughly 90% of tariff costs stayed inside the United States, mirroring the pattern from the 2018–2019 trade war.
The global economy is now fully multipolar in production and consumption, yet its financial backbone still runs through a single national currency. That mismatch — a 21st‑century world running on 1944 plumbing — is what BRICS is trying to correct. Not by dethroning the dollar with the renminbi, but by building a neutral clearing system that avoids the trap of replacing one hegemon with another.
China is no longer treating Israeli covert operations inside Iran as a distant regional issue. For Beijing, the recent wave of sabotage, assassinations, and radar penetrations has revealed a new model of warfare — one that blends cyber infiltration, internal disruption, and precision strikes. And because Iran sits at the heart of China’s Belt and Road energy corridor, Beijing now sees Iranian vulnerability as Chinese vulnerability.
In early 2026, the structural logic of regional hegemony has moved from theoretical debate to high-stakes reality. While major powers (the U.S., China, and Russia) are doubling down on their geographic cores, the “exhaustion of expansion” is becoming the defining theme of the year.
The end of New START has opened the door to unconstrained U.S.–Russia nuclear expansion just as China accelerates its own buildup, creating a volatile three‑way arms race with no verification, no guardrails, and rising risks of miscalculation.
The collapse of New START and China’s rapid nuclear buildup have ended decades of structured restraint, creating an unstable three‑way arms race with no treaties, no verification, and rising risks of miscalculation in a multipolar nuclear world.
Muscat’s talks revealed a fragile diplomatic opening overshadowed by military brinkmanship, deep mistrust, and clashing agendas, leaving the US‑Iran channel open but far from any path toward a real nuclear agreement.
The global AI landscape in 2026 is defined by a massive divergence in how the world’s three largest tech powers deploy capital and enforce rules. As the market moves toward an estimated $1.81 trillion to $2.4 trillion valuation by 2030, Washington, Beijing, and New Delhi have institutionalized three distinct “stacks” for the future of intelligence.
This article examines how Latin America’s deep-seated integration into Chinese trade networks—exceeding $515 billion in 2024—overrides the region’s recent rightward political shifts. Using case studies from Argentina’s soy exports to Brazil’s response to U.S. tariffs, it argues that economic pragmatism and the “commercial logic of resource extraction” remain more influential than ideological alignment with Washington.
This analysis details how global actors are countering unpredictable U.S. trade policies through “accelerated pursuit of alternative partnerships” and financial diversification. It highlights the shift toward conventional multilateral agreements (like the EU-India and Canada-China deals) and the steady decline of the dollar’s share in global reserves—falling from 72% in 2000 to 56.9% by 2025—as nations hedge against geopolitical risk.
In January 2026, Beijing is navigating the chaos of the second Trump administration with a policy of “selective silence.” While the U.S. pursues high-visibility interventions in Venezuela, Greenland, and Iran, China has largely declined to engage in tit-for-tat escalation.
In January 2026, the security of Taiwan is being redefined by “battlefield truths” exported from Ukraine. As Taipei faces intensifying pressure from Beijing—most recently via the “Justice Mission 2025” drills—it has fundamentally pivoted its defense strategy toward asymmetric “porcupine” warfare, prioritizing millions of low-cost drones over traditional “big toy” platforms like submarines and fighter jets.
