mBridge Can Now Move $1.7 Billion in Under an Hour. It’s Still 95 Percent One Currency.
Bank of China moved $1.7 billion-plus through mBridge twice this summer. The platform works. It also runs about 95 percent on China’s e-CNY.
Economic Statecraft
Why Egypt Didn’t Sign the Mecca Defence Pact
Saudi Arabia, Turkey, and Pakistan signed a mutual defense pact on August 7. Egypt’s decision not to join looks like the Ideology Premium’s alignment-menu logic playing out in security policy.
The Isaac Accords Are the Ideology Premium, Running in Reverse
Legislators from a dozen-plus Latin American states backed the Isaac Accords in Buenos Aires. Argentina’s bond curve shows the real price of the alignment Milei is selling.
The CBAM Green Divide: How the EU Carbon Border Tax Locks Out EM SMEs
The CBAM Green Divide is the structural divergence in EU market access between large EM producers with compliance infrastructure and SMEs locked out.