Investigation · Free
The Fertilizer Triad: Who Controls the Ground Beneath the Harvest
Who decides whether the world eats? We traced N, P, K to their addresses: phosphorus in Morocco, potash in Russia and Belarus, nitrogen redrawn by a severed pipeline in Ukraine. Two axes of concentrated power — now instruments of statecraft. By Younesse Bouziani, Editor-in-Chief.
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Strait of Hormuz: The Arithmetic of Closure
What does a Hormuz closure actually cost? We ran the arithmetic nobody in the West will do on the record: twenty million barrels a day through one 33-kilometre throat — spare capacity, shadow fleets, and the insurance math, in full. By Khalid Al-Harbi.
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The Settlement Grid: Life After the Dollar's Plumbing
The discovery: the parallel rails are already installed. mBridge, CIPS, UPI, PIX — inventoried piece by piece. Nobody is demolishing the dollar. They are making it unnecessary. By Lin Yue.
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The Two Chokepoints Inside Every Chip
How did the digital century come to balance on three addresses? We mapped them: one Dutch company prints the machines, one Taiwanese company prints the chips, China refines the graphite. Three owners, three vulnerabilities. By Aiko Mori.
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Investigation · Premium
The Smelter Trap: Why Owning the Mine Is Not Enough
Who really owns the world's copper? We followed the ore past the mine gate and found the answer is the furnace, not the hole in the ground. Smelter fees at historic lows, Western ore shipped east. By Kate Harrison.
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