Uploaded August 2026 | Updated September 2026, 2 weeks ago
The end of globalization traces to four shocks, the pandemic, semiconductor shortages, the Ukraine war, and the Strait of Hormuz.
Vincent Deluard, Director of Global Macro Strategy at StoneX, explains why the semiconductor standoff became the real turning point and what it signals for global trade.
He shows how the pandemic and the Ukraine war exposed deep supply chain dependencies on India and China, and how the semiconductor shortage became a contest the West could no longer control. He details how China rebuilt its domestic chip industry in roughly six years rather than the twenty many expected, leaving the United States without the technology leverage it once held over rival powers.
Discover Actionable Global Macro Insights with StoneX Market Intelligence: shop.stonex.com/products/global-macro-insights?utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_vincent_deluard&utm_content=share
0:00 Four Shocks, Not an Accident
1:28 The Chip War Turning Point
1:55 China Builds Its Own Chips
2:43 No Tech Leverage for America
Like and subscribe for more financial market insights.
#StoneX #Semiconductors #GlobalMacro #VincentDeluard
The end of globalization traces to four shocks, the pandemic, semiconductor shortages, the Ukraine war, and the Strait of Hormuz.
Vincent Deluard, Director of Global Macro Strategy at StoneX, explains why the semiconductor standoff became the real turning point and what it signals for global trade.
He shows how the pandemic and the Ukraine war exposed deep supply chain dependencies on India and China, and how the semiconductor shortage became a contest the West could no longer control. He details how China rebuilt its domestic chip industry in roughly six years rather than the twenty many expected, leaving the United States without the technology leverage it once held over rival powers.
Discover Actionable Global Macro Insights with StoneX Market Intelligence: shop.stonex.com/products/global-macro-insights?utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_vincent_deluard&utm_content=share
0:00 Four Shocks, Not an Accident
1:28 The Chip War Turning Point
1:55 China Builds Its Own Chips
2:43 No Tech Leverage for America
Like and subscribe for more financial market insights.
#StoneX #Semiconductors #GlobalMacro #VincentDeluard
