India’s electricity demand is rising at an impressive annual rate of 9%. From 2014 to 2023, the country’s gross domestic product (GDP) surged from 1.95 trillion dollars ($) to $3.2 trillion (constant 2015 US$), and the nation is poised to maintain this upward trajectory, with projected growth rates exceeding 7% in 2024 and 2025.  Correspondingly, peak power demand has soared from 136 gigawatts (GW) in 2014 to 243 GW in 2024, positioning India as the world’s third-largest energy consumer. In the past decade, the country has increased its power generation capacity by a remarkable 190 GW, pushing its total installed capacity beyond 400 GW. 

China is decoupling from, not flooding, the global mature-node semiconductor market. As China increasingly pursues industrial policies encouraging domestic chip production, its own growing chip demand will prevent a direct flood of cheap Chinese chips on foreign shores. However, as Beijing achieves its goal of decreasing the reliance of domestic downstream manufacturers on foreign chips, European and American mature-node semiconductor companies will feel the ripple effects of an increasingly “involuted” Chinese chip ecosystem.

In Europe, with Russia’s war of aggression against Ukraine showing little sign of abating, a persistent gap remains between security needs and defense spending. According to a 2006 commitment enshrined at the 2014 Wales NATO summit, the North Atlantic Treaty Organization (NATO) members should disburse no less than 2% of their national gross domestic product (GDP) on defense, out of which 20% is to be spent on equipment and research and development. In 2024, only 23 Allies out of 32 are expected to meet or exceed this target, though a significant improvement from only three in 2014. This total includes the United States (US) devoting 3.38% of its GDP to defense, constituting almost 70% of all NATO member defense spending combined.