The Trump administration is fundamentally transforming the relationship between the private sector and the U.S. government. As American capitalism evolves, the underlying logic of the global economy is quietly changing with it.

Donald Trump’s tariffs — the cornerstone of his economic agenda — are closely linked to inflation, revenues, spending and the reshoring of manufacturing. They are the key to assessing Trump’s economic impact, but they come with profound uncertainty.

John Maynard Keynes’ The Economic Consequences of the Peace (1919) remains one of the most prescient critiques of postwar settlement in modern history. In it, Keynes warned that victory can hollow itself out when the victors lose their sense of humility. The punitive reparations imposed upon Germany after World War I, he argued, sowed the seeds for future instability by humiliating and impoverishing a nation that, once stripped of dignity and hope, would not long consent to the order imposed upon it. His insight was both economic as well as moral and political: sustainable peace requires magnanimity, not vengeance; it presupposes an architecture of inclusion, not one of exclusion. In today’s parlance, it rejects blocs aimed at those outside and seeks to ground relations in the idea of indivisible peace.

The unusual movements of U.S. Treasuries and the dollar reflect not only a global reassessment but also questions about America’s national power and international standing. The dollar’s hegemony may soon face a critical turning point.

Both the U.S. and China share an interest in preventing illicit finance, strengthening cybersecurity and ensuring global stability. What happens next will depend less on technology than on values and governance.

Given the profound changes in the international order and governance system, the diversification of international finance is an inevitable trend. Demand for an alternative global currency is becoming increasingly urgent.

China’s economic struggles have implications for its trading partners across the globe, notably in Europe. What can Beijing’s fight against ‘involution’ tell the world about its future trading prospects?

America’s tariffs have remained a centerpiece of discussion in global trade since the White House announced them, with a clear, coherent path forward yet to emerge. In these first few historic months, how has the aggressive trade policy affected U.S. positions in Asia?

It should not be difficult for politicians of insight to choose between joining hands to build a community with a shared future for mankind or becoming powerful countries’ pawns to fight and exhaust one another.

Turbulence has overwhelmed the current international system and SCO member states are feeling a profound impact. The Tianjin Summit is designed to further deepen multilateral cooperation and to provide a new center for global strategic stability.