This week it was the turn of Apple’s Chief Executive Tim Cook to sit in the Congressional hot seat. With lights blazing and cameras rolling, a bipartisan lineup of Senators grilled him about the relatively small amount of tax the company pays on its substantial corporate profits. According to a New York Times account of [...]
The Chinese economy has changed dramatically over the last three decades. While its per-capita income was only a third of that of Sub-Saharan Africa in 1978, it has now reached an upper-middle income status, lifting more than half a billion people out of poverty. The numbers are dramatic: per capita income has doubled for more [...]
According to the CBO, under the President’s budget, the deficit hovers around 2% of GDP, and debt-to-GDP stabilizes through 2023 at levels lower than today’s. Hence, were the President’s budget to be implemented, the budget would be on a path to medium run stabilization. This point is illustrated in Figures 1 and 2 from the CBO [...]
Abenomics or the real-time experiment
Can one man's bold moves solve all the problems?
Must ReadUnited States
The ongoing weakness of America’s economy – where deleveraging in the private and public sectors continues apace – has led to stubbornly high unemployment and sub-par growth. The effects of fiscal austerity – a sharp rise in taxes and a sharp fall in government spending since the beginning of the year – are undermining economic [...]
If the current and achievable growth goal of 7.7% could be sustained in the coming years, Myanmar would emerge as the next Asian tiger – but not without inclusive growth.