The First Quarter’s Regulatory Landscape Changed More Than Any Year-Ahead Outlook Predicted
The regulatory developments of Q1 2026 defied every major forecast published at the start of the year. Consensus outlooks anticipated incremental tightening of semiconductor export controls, gradual implementation of corporate governance reforms in Korea, continued BOJ normalization, and the adoption of China’s 15th Five-Year Plan. All of these occurred. None of them proved to be…