The rapid financing of the AI boom through massive corporate debt issuance is creating significant stress on global financial markets. This influx of private capital forces competition with government Treasury bonds, as AI companies offer higher yields than equivalent sovereign debt, thereby pushing up long-term interest rates. While this signals strong investment demand for AI, it raises concerns about systemic risk and the potential destabilization of core bond markets. Policymakers must navigate the tension between fueling critical technological growth and maintaining stable public borrowing costs to prevent a financial crisis.
Cloud Adoption For National Security And Defence Purposes Four Case Studies From The Asia Pacific
English Summary
The IISS paper argues that cloud computing is becoming essential for national-security and defence functions in the Asia-Pacific, and that states can combine commercial cloud benefits with sovereign control. Using case studies of Japan, the Philippines, Singapore, and Thailand, it shows each country adopting hybrid or phased models to handle growing data demands, improve military interoperability, and strengthen decision-making under complex cyber and geopolitical pressure. The analysis highlights that reliance on dominant hyperscalers, especially US providers, creates governance and control trade-offs that governments are managing through tailored technical, legal, and institutional safeguards. Strategically, the paper implies that effective NS&D cloud policy should prioritize secure hybrid architectures, domestic governance capacity, and clear sovereignty mechanisms rather than seeking full digital isolation.
中文摘要
IISS 的論文指出，雲端運算正逐漸成為亞太地區國家安全與國防職能的關鍵基礎，且各國可在運用商業雲優勢的同時維持主權控制。透過日本、菲律賓、新加坡與泰國的案例研究，報告顯示各國正採取混合式或分階段模式，以因應日益增加的資料需求、提升軍事互通性，並在複雜的網路與地緣政治壓力下強化決策能力。分析強調，對主導性超大規模雲端服務商（尤其是美國供應商）的依賴，會帶來治理與控制層面的權衡；各國政府正透過量身設計的技術、法律與制度性防護機制加以管理。就戰略層面而言，該論文意涵在於：有效的國安與國防雲端政策，應優先聚焦於安全的混合式架構、國內治理能力，以及明確的主權機制，而非追求完全的數位孤立。
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