China learned from Russia’s post-1991 experience and pursued its economic liberalization with more care. But it ultimately could not avoid the political implications of pro-market policies and is now following Russia down the road to autocracy – continuing a century-long pattern of mirroring its neighbor’s historical trajectory.

China learned from Russia’s post-1991 experience and pursued its economic liberalization with more care. But it ultimately could not avoid the political implications of pro-market policies and is now following Russia down the road to autocracy – continuing a century-long pattern of mirroring its neighbor’s historical trajectory.

While the pound’s recent declines may evoke memories of the 1992 “Black Wednesday” crisis, sterling’s weakness does not reflect a general loss of confidence in UK assets. But the newly-announced plan to cap household energy prices may now lead to currency trouble by exposing the government’s balance sheet to huge potential losses.

Environmental, social, and governance investing is fundamentally about finding new ways to manage risk.