Harris Westminster students negotiated tariffs, tech controls, and crisis diplomacy – here’s what they discovered Last December, sixth-form students at Harris Westminster Sixth Form school in London took part in a hands-on exploration of one of the defining questions of our era: how the United States and China navigate a relationship built on both deep interdependence and sharpening rivalry. The programme began with a lecture from Diana Choyleva, setting out the economic and geopolitical background to the US–China relationship – the trade flows, technological rivalries, and strategic anxieties that shape decision-making in Washington and Beijing today. Building on that context, Diana and her colleague Jiaming Gu, an economist at Enodo Economics, then ran a 60-minute “US–China Trade War Simulation,” in which students took on the roles of the two powers themselves. Split into two delegations, Team US and Team China, students had to weigh their country’s goals, strengths, and constraints,…

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World Economic Forum, Annual Meeting of the New Champions Special Event Enodo Economics’ Founder and Chief Economist, Diana Choyleva, participated at the panel ”Renminbi and the World” at the World Economic Forum in Dalian on 23rd of June 2026. Diana Choyleva at the panel ”Renminbi and the World” at the World Economic Forum, June 2026. Description More than $150 trillion moves across borders each year through the global financial system, the vast majority of it still denominated in dollars. As geopolitical tensions fragment trade relationships and middle powers look to diversify their financial exposure, alternative currencies are gaining quiet traction, such as the recent renewal of a 200-billion-yuan swap line between the Bank of Canada and the People’s Bank of China. How might a growing willingness among these economies to transact in alternative currencies reshape the structure, stability and sovereignty of the international financial system? Speakers Diana Choyleva, Founder and Chief…

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Milken Global Conference 2026 Special Event Enodo Economics’ Founder and Chief Economist, Diana Choyleva, participated in the panel ”China’s Next Alpha: Opportunities in a New Growth Era” at the Milken Global Conference, held from 3–6 May 2026 in Beverly Hills. Diana Choyleva speaking at the panel “China’s Next Alpha: Opportunities in a New Growth Era” at the Milken Global Conference, June 2026. Description As China transitions to a more subdued, but sustainable growth path, investors are shifting from broad macro narratives toward sectors with clearer earnings visibility, innovation capacity, and global competitiveness. Advanced manufacturing, AI, semiconductors, electric vehicles, and biotech continue to anchor productivity gains and export resilience. At the same time, the consumer economy is undergoing a more nuanced structural shift, shaped by evolving domestic demand, brand maturation, and changes in consumption patterns. Increasingly, Chinese companies are not only strengthening their position at home but also expanding their presence…

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Harvard Law School, Program on International Financial Systems Special Event Enodo Economics’ Chief Economist, Diana Choyleva, participated in the panel ”Reserve Currencies: Trends, Risks, and Outlook” at the 2025 China – US Symposium in Washington D.C., on 26th of September 2025. Description Participants discussed the current status and future prospects for the U.S. dollar andother currencies as international reserve currencies. They noted that the U.S. dollar remaineddominant in international reserves and payment, but some argued that its dominance was slowlyeroding. Participants considered economic and political forces that could weaken the role of thedollar, including fiscal and monetary policy, rule of law, and geopolitics. There was also somediscussion of how the rise of stablecoins and tokenization in the financial system might affect therole of various currencies, with many arguing that widespread use of stablecoins in particularwould likely strengthen the global role of the U.S. dollar. Diana Choyleva speaking at the panel ”Reserve…

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Roundtable Summary Report Enodo Economics, in collaboration with the Asia Society Policy Institute’s Center for China Analysis hosted a private roundtable discussion examining how consumer demand will reshape China’s economic future. The session brought together leading China analysts to discuss Beijing’s consumption-led growth ambitions.You can download the report HERE. China is the world’s second-largest economy, and its economic trajectory has profound implications for global growth and stability. Yet with returns on debt-driven, state-led investment having slumped over the last decade and consumer confidence remaining anemic, the country risks entering a long-term deflationary spiral. Despite repeated pledges to pivot toward consumption as the primary driver of growth since the mid-2000s, Beijing has continued to fall back on supply-side measures, and consumer spending as a share of GDP remains low by developed country standards. Beijing’s consumption pivot faces formidable headwinds. Most economists argue that the challenges run deeper than policy tweaks can fix and require…

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World Economic Forum, Annual Meeting of the New Champions Special Event Enodo Economics’ Chief Economist, Diana Choyleva, participated at the panel ”Geopolitics and Currencies in Flux” at the World Economic Forum in Tianjin on 25th of June 2025. Diana Choyleva speaking at the panel ”Currencies in Flux” at the World Economic Forum, June 2025. Description Amid financial sector uncertainty, non-US dollar currencies from the renminbi to the euro are representing a growing share of sovereign reserves and being used increasingly in trade invoicing. How could shifting market dynamics change the international currency landscape and what would these changes mean for the broader financial system? Speakers Diana Choyleva, Founder and Chief Economist at Enodo Economics Jeffry A. Frieden, Professor of International and Public Affairs and Political Science, Columbia University Jin Keyu, Professor, School of Business and Management, Hong Kong University of Science and Technology (HKUST) Eswar Prasad, Professor, Cornell University Robin…

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Roundtable Summary Report Enodo Economics and the Asia Society Policy Institute’s Center for China Analysis co-organized and co-chaired a closed-door roundtable on China’s deepening financial integration with Hong Kong and its impact on global markets. The event convened senior policymakers and financial practitioners with expertise in Hong Kong’s financial system. You can download the report HERE. Hong Kong has been China’s primary gateway to global markets, especially as a channel for inbound foreign capital. But the territory’s role is gradually shifting. Hong Kong is increasingly emerging as a controlled outlet for Chinese households to invest their vast pool of savings in foreign assets through carefully calibrated liberalization mechanisms. Hong Kong’s transformation comes as Beijing seeks to balance two competing imperatives: projecting financial power globally while preserving its strict controls over capital outflows. At the same time, Hong Kong’s evolution is unfolding against a backdrop of profound political change. The roundtable…

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Astorg Special Event Enodo Economics’ Chief Economist, Diana Choyleva, took part in the Astorg Annual General Meeting at Fondation Louis Vuitton, in Paris, on 20th of May 2025. The conference was themed around cinema, and Diana presented her views on US – China decoupling, framing it as an epic drama and highlighting the great power competition between Xi Jinping and Donald Trump. She traced the historical context – from America’s post-World War II dominance and the post-Cold War “unipolar moment” to China’s rise following its “century of humiliation” and the 2008 financial crisis, which exposed systemic vulnerabilities in both nations. Diana Choyleva presenting at the AGM of Astorg, May 2025. Diana discussed “The Great Decoupling,” the bifurcation of the global economy into US and China-led spheres of influence. She emphasised that the contest now plays out on three key fronts: trade, Taiwan, and most critically, technology. Technology, permeating every aspect…

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Milken Global Conference 2025 Special Event Enodo Economics’ Chief Economist, Diana Choyleva, participated in several key sessions at the Milken Global Conference, held from 4–7 May 2025 in Beverly Hills. Description Balancing Strategic Competitiveness and Shared Prosperity Public Session You can watch the whole session HERE. Behind the headline-grabbing tariffs in recent months lies the reality that global trade patterns have been under pressure for many years. The disruption from the COVID-19 Pandemic, Russia’s invasion of Ukraine, China-US geopolitical tensions, and emerging economies in the global south have all contributed to alterations in existing trade patterns. In parallel, intensification of automation and AI-driven manufacturing, as well as the disconnecting effects of shifting supply chains, have complicated the political-economic environment in which businesses, investors, and households evaluate decisions. Policymakers, particularly those responsive to discontent electorates, have struggled to adapt to the ongoing rebalance of trade patterns. The recent U.S. tariff announcements, a maximalist response…

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Boao Forum for Asia 2025 Special Event Enodo Economics’ Chief Economist, Diana Choyleva, moderated the panel ”Promoting Energy Transition in Asia” at the Boao Forum for Asia on 27th March 2025. Description The Boao Forum for Asia 2025 brought together influential leaders in government, business, and finance to address one of the most pressing global challenges – Asia’s green energy transition. Held under the theme, “Asia in the Changing World: Towards a Shared Future,” this high-level roundtable focused on how Asia’s diverse economies can collaborate to accelerate the green transition through technology integration, policy alignment, and innovation. With Asia playing a critical role in the global energy landscape, the session underscored how the region can scale solutions, mobilise investments, and overcome existing barriers to drive sustainable energy transformation. Diana Choyleva moderating the panel “Promoting Energy Transition in Asia” at the Boao Forum for Asia, March 2025. Panellists: Zhou Xiaochuan, Former…

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