• TwoTigers24, New York
  • October 19, 2026

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China has launched one of its largest military exercises yet — dubbed Exercise Justice Mission 2025 — around Taiwan. The exercise included the deployment of Peoples Liberation Army (PLA) Navy, Army, Air Force and Rocket Force units in five zones on all sides of Taiwan, as well as live-fire drills and a simulated blockade. The show of force was accompanied by a message on the PLA’s Weibo page warning against “Taiwan Independence separatist forces.” In the South China Sea, however, the PLA took a brief break from its gray-zone harassment campaign against Filipino fishers to provide drinking water to a single stranded fisher. The incident — highlighted on social media by the Chinese Embassy in Manila as an example of China’s “humanitarianism” — occurred within the Philippine’s exclusive economic zone. It was widely criticized as a public relations stunt, particularly given a recent incident on December 12 in which 20 Filipino boats were water-cannoned. Meanwhile, the US National Defense Authorization Act has allocated up to a record US$3.5 billion to Manila for its military modernization. What do the PLA drills mean for regional peace and stability? And was China’s treatment of the Filipino fisher a genuine act of kindness, or something more sinister? In this episode, we examine China’s latest actions in the Taiwan Strait and South China Sea, as well as the US-Philippines security alliance. *Recorded on December 29, 2025 at 3pm Taiwan Standard Time Host/Senior Producer: Yin Khvat Producer: Julien Oeuillet Our guests: Tsai Jung-hsiang National Chung Cheng University Political Science Professor

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YNOT — Two Tigers Consulting From Building Bridges to Watching China About 15 years ago, I founded a small company called Two Tigers Consulting with a relatively simple idea: help American and Chinese businesses work together. At the time, China represented one of the greatest business opportunities in the world — a rapidly expanding economy, extraordinary manufacturing capabilities, and ambitious entrepreneurs eager to build relationships with American companies. Two Tigers Consulting was created to help bridge that gap. For a while, it worked. We attended trade shows, arranged meetings, and introduced companies across both cultures. But after one particularly promising trade show, several Chinese businesspeople we had met were reportedly arrested upon returning to China — apparently for traveling without proper authorization. That experience taught me something important: in China, being a successful entrepreneur doesn't necessarily mean being free to conduct business. As Xi Jinping consolidated power and the political environment shifted, we concluded the potential rewards of doing business in China no longer justified the risks. Rather than abandon our knowledge entirely, Two Tigers evolved into a platform for following, discussing, and analyzing developments inside China — its economy, political leadership, and increasingly complicated relationship with the United States. I want to make absolutely clear that I have tremendous respect for the Chinese people — their entrepreneurs, engineers, and workers are extraordinarily capable. But I also believe China's political system creates fundamental contradictions: enormous private fortunes can be accumulated, yet ultimate political authority remains firmly concentrated, making relationships based on mutual trust and predictable rules extremely difficult to sustain. Today, Two Tigers is an independent publication examining China's achievements, challenges, ambitions, and contradictions — where they intersect with the United States and the broader world. What began as a small business venture now attracts roughly 10,000 visits a day. Understanding China is no longer optional: what happens there affects businesses, economies, and people throughout the world. And that is why Two Tigers continues.

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