The Grey Capital Malaise Infecting Thailand
Gregory Raymond
Thailand has not been immune to the sweep of ‘grey capital’ afflicting Laos and Myanmar. Given the authorities’ weak-willed approach to fighting the problem, it will continue to fester.

Gregory Raymond
Thailand has not been immune to the sweep of ‘grey capital’ afflicting Laos and Myanmar. Given the authorities’ weak-willed approach to fighting the problem, it will continue to fester.
Roland Rajah
The second China shock fundamentally differs from the first. Southeast Asia should strategically optimise the growth of capital imports and investment from China.
Gerald Mako
Southeast Asian countries face two dilemmas in the Sino-US AI chip war: aligning their technology stacks with either of the great powers and preventing the illegal diversion of restricted chips.
Eugene R.L. Tan|Hoang Thi Ha
This Long Read reports the findings of an online survey on perceptions of Chinese-built infrastructure in Southeast Asia. It reflects both the tangible benefits of these projects and broader considerations shaping regional views of China as an infrastructure development partner.
Zha Daojiong
China and the US have been working together to combat illicit drug activities. This will have a significant impact on Southeast Asia.
Anoulak Kittikhoun
“Might makes right” is back in form with major powers’ use of tariffs and military actions, leaving small states like Laos with fewer buffers and narrower margins for error than more capable middle powers. This Long Read explores options and imperatives for Laos as it navigates new geopolitical realities.
Piper Campbell|Joanne Lin
Fulcrum editor William Choong talks to Piper Campbell and Joanne Lin about Southeast Asia operating amid rivalry between China and the US. Ambassador Campbell is the Inaugural Chair of the Department of Foreign Policy and Global Security, American University. She has taught at the university since January 2020. This followed a distinguished, 30-year diplomatic career. Joanne Lin is the coordinator of the ASEAN Studies Centre at ISEAS.
Sophie Wushuang Yi
Progress on the South China Sea dispute between the Philippines and China is in limbo, and likely to stay that way.
Lowell Bautista|Aries A. Arugay
The Philippines' arbitral victory in 2016, though rejected by China, has helped entrench the law of the sea as the region's principal framework for understanding and contesting maritime claims.
Zha Daojiong
As Southeast Asian countries ponder the use of nuclear power, China looks set to be a key player.