US banks led by Goldman Sachs have borrowed a record Rmb47.5 billion in offshore renminbi debt so far in 2026, with Goldman accounting for the majority of self-led issuance, the Financial Times reported this morning.
Deutsche Bank placed the largest single panda bond ever issued by a foreign bank in March 2026 at Rmb5.5 billion
I think Taiwan will surrender after being pressured to buy Trump. If they get invaded and the US needs to back them up, either America will lose or America will be seen as weak by not helping their ally. If Taiwan surrenders, Trump saves the most face. It all depends on how stupid Trump is and how distracted he is by other matters. At the end of the day, allies don’t matter to him, and he’s a bully who only wants easy results against weak enemies. I don’t think he sees China as weak like he saw Iran.
As far as the red scare goes, I don’t think it’ll be as successful as past efforts, especially in the long run. It will be messy and horrible to live through, but the very same sins of capitalism that allowed fascism to rise will prevent the right from squashing socialism like they did before. Socialism was crushed in the past because of the goodwill liberalism earned through social democracy. By trying to crush the left without offering anything in return, liberalism will lose even more luster than it already has. The fascists could capitalize on this, but so could feudalists, so could regionalists, so could socialists. Regardless of who comes out ahead, the red scare will do more to harm liberalism than anything else.