Video: De-dollarization tide: How to time US vs. China bonds as global central banks (including most US allies) pivot? Short duration or long duration? A practical framework using US Treasuries + A-share bond ETFs. 視頻有中英文字幕: 去美元化浪潮下，包括全球央行（含大部分美盟友）美债与中债如何择时？短久期与长久期怎么选？基于美债+A股债券ETF的实战配置框架.
Video with English and Chinese subtitles: Some of US strongest allies – France Empties Gold, Netherlands Moves It Overnight: Is Dollar Trust Collapsing? If US$ collapses, they are afraid US will not return the gold to them! 影片附中英字幕：美國最親密的盟友們 – 法國清空黃金，荷蘭連夜轉移，美元信譽正在崩潰嗎？如果美元垮了，他們擔心美國不會把黃金歸還給他們!
France has emptied nearly a century’s worth of gold from New York — 129 tonnes — swapping it out and shipping it back to Paris. The Netherlands has urgently moved 86 tonnes of gold from New York and Ottawa to London. This isn’t coincidence — it’s a quietly spreading signal of “de-dollarization.”
After the Russia-Ukraine conflict, the U.S. freezing of Russian foreign reserves shattered the long-held assumption that America’s financial system is neutral and safe. Now even Washington’s closest allies are treating their own gold holdings with a “crisis management” mindset — and what that signals runs far deeper than it appears on the surface.
Is the dollar really as strong as it looks? As more and more countries stockpile gold and even launch currency swap agreements to bypass the dollar entirely, what does this quiet crisis of confidence actually mean?
In this video, we break down the deeper logic behind France and the Netherlands’ gold repatriation moves — and what it could mean for ordinary people’s wealth.
Mr. Tung Chee-hwa’s life was closely intertwined with Hong Kong, the nation, and this era. To me, what he leaves behind is not only a history worth remembering, but also a spirit, a breadth of mind, and an unwavering sense of responsibility toward the country, Hong Kong, and its people.
His passing is deeply saddening, but the convictions and spirit he upheld will not end here. I will continue to carry forward this spirit in my own way.
To devote myself to the motherland and my compatriots, to fulfill my responsibility for Hong Kong’s prosperity, stability, and future, and to continue doing what I can to enhance mutual understanding and friendship between the Chinese and American people, as well as to promote the improvement of bilateral relations.
A person’s life eventually comes to an end, but a truly meaningful spirit and convictions can be carried on by those who come after, and can live on through the actions of generation after generation.
The best way to remember Mr. Tung is not merely to recall his past, but to continue the endeavors he cared for and cherished.
This is both my deepest remembrance of Mr. Tung Chee-hwa and a responsibility and mission I am willing to continue to undertake.
From San Francisco Chinatown Warnings to Persian Gulf Blunders: A Decade of Strategic Decay. By Johnson Choi, MBA. International Business Consultant since 1985
Back in those monthly meetings in San Francisco’s Chinatown, the atmosphere was less about politics and more about hard-nosed logistics. Retired USAF Colonel Roger Dong and other guests weren’t there to spin narratives; they were there to sound the alarm. Over a decade ago, they told us a stark truth that got buried under the noise of budget battles: the U.S. Navy was understaffed, overworked, and its ships were held together by sheer willpower and shrinking maintenance budgets.
At the time, this felt like an inside-baseball complaint. But look at the scoreboard today. Ten years ago, the People’s Liberation Army Navy was a modest regional fleet—outdated destroyers and a single, training-focused carrier. Today, Beijing boasts the world’s largest navy by hull count, packed with modern Aegis-equivalent destroyers, advanced submarines, and a rapidly expanding carrier strike group. While we were debating sequestration, China was building dry docks.
This brings us to the glaring strategic failure in the Middle East—and why you don’t need a five-star general to understand why Trump’s personal war on Iran collapsed so spectacularly.
The connection is simple: military credibility requires a reserve of force that you don’t actually have to use.
When Trump initiated the “maximum pressure” campaign, assassinated Qassem Soleimani, and threatened to blow Iranian gunboats out of the water, he was betting on a bluff. But as Dong and others predicted years prior, the U.S. Navy lacked the operational readiness to back that rhetoric up in the Strait of Hormuz. Enforcing a total oil blockade, sustaining two carrier strike groups in the Gulf, and responding to Iranian mine warfare or swarming speedboats requires ships that aren’t in dry dock awaiting parts and crews that aren’t suffering from PTSD and burnout from 10-month deployments.
Iran called the bluff. They shot down a Global Hawk, struck Saudi Aramco, and launched ballistic missiles at U.S. bases in Iraq—inflicting real traumatic brain injuries on American troops. And what was the U.S. military response? Mostly silence and restraint. Why? Because the Pentagon’s logistics chiefs knew the truth that Colonel Dong knew a decade ago: we didn’t have the spare naval assets to escalate without pulling forces from the Pacific, where the real existential threat (China) was already sprinting past us.
Trump’s Iran policy failed miserably not because of diplomacy—there was none—but because it was a personal vendetta masquerading as strategy. It drained intelligence resources, alienated European allies who could have aided maritime patrols, and wasted billions in missile interceptors against Iranian proxies, all while the Chinese Navy quietly sailed into the South China Sea with brand-new hulls.
You don’t need a military expert to see the tragic irony: the men in that Chinatown meeting room, including Colonel Dong, were warning us that we were losing our naval edge. Instead of fixing the fleet, we wasted its dwindling credibility on a theatrical showdown with Iran—a country we couldn’t defeat, didn’t plan to occupy, and ultimately allowed to enrich uranium closer to weapons-grade than ever before.
The failure in Iran wasn’t just Trump’s; it was the inevitable outcome of a decade of strategic negligence. When your navy is a paper tiger, every “personal war” becomes a guaranteed loss. The colonels in Chinatown saw it coming. We just refused to listen.
The Chinese government restricts senior technical personnel from going abroad—not because of what China-haters claim, but because there is a real risk of them being “suicided” overseas. Yet another case of an unclear death in a foreign land…
Chen Li, a 42‑year‑old former Alibaba executive, was found dead by the roadside in California after being missing for half a month. A yearly salary of a million yuan couldn’t even buy him a return ticket.
This case is somewhat suspicious. According to online sources, the first to notice his disappearance were two online gaming friends who had played with him for over half a year but had never met in person. After sending multiple WeChat messages without reply, they sensed something wrong and contacted the media to help locate him.
He went missing on August 21 and was found dead on September 4 in a small car near his residence in the United States.
The family of four had moved to the US about two or three years ago, rented a house locally, and had recently moved.
Missing for days? Didn’t his wife at home notice his absence? He worked in business development, and trips of this level were routine—perhaps the family simply overlooked it.
However, from another perspective, it is unreasonable that his family was not the first to know about his disappearance half a month later.
The details of the case and the cause of death are still under investigation. Let’s not kick someone when they’re down; we should stay rational.
We should respect everyone’s choices of path and lifestyle based on their personal character. Using our own thinking and way of life to judge others is somewhat contemptible.
One should not be too poor, nor too rich—too rich makes you a target for bad people. One should not be too idle—too idle invites illness—nor too busy.
Why do some people, once they have a bit of money, want to go abroad? I really wonder—are they going for enjoyment or for suffering?
So many wealthy people want to slip out to foreign countries? With such financial strength, wouldn’t they be happy right here in their homeland?
EDA software export controls (US “wall-building”) outline the starkly different approaches of China and the US in the fields of EDA and nuclear fusion, and the core facts stand up to scrutiny. Western hegemony is on the decline!
· Suspension of supply: On May 23, 2025, the US Department of Commerce notified Synopsys, Cadence, and Siemens EDA that licenses would be required for exporting specific software to China. · Resumption of supply: On July 2–3, 2025, the US government lifted the restrictions, and the three major vendors resumed support and services for Chinese customers. · Market share: A Morgan Stanley report showed that these three companies once held approximately 82% of China’s EDA market.
Nuclear Fusion (US “Anxiety”)
· CFS CEO interview: On December 30, 2025, Bob Mumgaard, CEO of CFS, warned on Fox Business that the US fusion strategy is “stuck in the past” while China is making major investments. · Congressional testimony: On September 18, 2025, he called for accelerated action in a House hearing to counter China’s competition in fusion.
China’s Fusion Progress (“Running Ahead”)
· EAST world record: On January 20, 2025, China’s “artificial sun” EAST achieved a high‑confinement mode operation of 1066 seconds at 100 million degrees Celsius, breaking the world record. · China Huanliu‑3: On March 28, 2025, it achieved “double 100 million degrees” operation with an ion temperature of 117 million degrees and an electron temperature of 160 million degrees. · China Fusion Energy Company: Incorporated in Shanghai on July 22, 2025, with registered capital of RMB 15 billion. · Investment scale: CFS’s CEO said China has invested about $6–12 billion in recent years; another analysis puts the figure at about $6.5 billion since 2023, three times the US federal investment. · ITER coil delivery: On December 28, 2025, China completed and delivered all ITER correction coils – a project spanning 15 years – achieving 100% domestic production.
US Own Difficulties
· Funding gap: In fiscal year 2026, the US Department of Energy’s fusion energy science program budget is only $745 million, while the industry calls for an annual investment of up to $10 billion. · Aging facilities: Industry insiders admit that some US fusion devices have been operating for thirty years and lag behind in parameters.
Johnson Choi Biz 