November 23, 2025 Edition
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Two Graphs
Despite a decline in cybercrime complaints since 2021, total US cybercrime costs have surged to a record $16.6 billion in 2024, indicating that individual cybercrimes are becoming far more costly.
China's government investment in quantum computing ($15 billion) is nearly double that of the United States ($8 billion), and exceeds the combined total of all other listed countries.
Headlines
My Wife and I Planned Out Our Retirement. We Didn’t Count on Her Getting Sick. (WSJ) … World-Beating Stock Rally Creates New Headaches in Korean Market (Bloomberg) … What to Know About the Nearly 10% Climb in a Key Medicare Expense for 2026 (NY Times) … Tyson Foods to Shut Major Beef Facility in Nebraska (NY Times) … US Retail Sales Are Proving Resilient While Risks Mount (Bloomberg) … The new politics of autism (FT) … The A.I. Boom Is Driving the Economy. What Happens if It Falters? (NY Times)
The Idea
Mentions: geoeconomics, trade, international relations
Trade realignment reshapes global supply chains
Strategic interdependence is driving a realignment in global trade, with countries trading more with allies and less with rivals. This shift impacts supply chains and will likely lead to new trade partnerships over the next 12–24 months, affecting industries dependent on international trade networks.
Related reading:
FreightWaves: McKinsey: Geopolitical partners trading more with one another, less with rivals
Financial Times: Strategic interdependence is rewiring the global economy
Financial Times: Welcome to the new age of geoeconomics