Spy Network Crackdown

A less likely but plausible escalation is that prosecutors use the Miao identification to expose a broader alleged surveillance network targeting Taiwanese officials, relatives, or diaspora figures in the United States. This would modestly raise U.S.-China political risk, though still far below a crisis-level event.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.