From the Financial Times: Here we are again. Syria’s government has killed dozens more of its own citizens, and what does its old ally, Russia, do? It obstructs a substantive UN Security Council response. This has long since become a predictable story, but it raises a fundamental question: what is Russia’s place in today’s world? [...]
Yes, the headlines from the euro area are discouraging. The region’s Purchasing of Managers Index (PMI) is falling again—to 45.9 in May, with even German levels down. The European stock markets are down. The euro has slid to 1.25 vs. the dollar, accelerating preparations for a Greek euro exit. No resolutions of the political crisis [...]
In the past three decades, the focus in China was on economic reforms. Current changes – including accelerating RMB internationalization – reflect impending financial reforms. China is already one of the world’s largest importers of iron ore and copper, and a force in the gold market. Nonetheless, the story of commodities reflects the kind of [...]
Seeking sound economic policy:
From Project Syndicate: The Greek euro tragedy is reaching its final act: it is clear that either this year or next, Greece is highly likely to default on its debt and exit the eurozone. Postponing the exit after the June election with a new government committed to a variant of the same failed policies (recessionary [...]
It is time for European and IMF officials, with support from the US and others, to work on how to dismantle the euro area. While no dissolution will be truly orderly, there are means to reduce the chaos.
Edward Hugh
Don't Shoot the Messenger
Edward is a macro economist, who specializes in growth and productivity theory, demographic processes and their impact on macro performance, and the underlying dynamics of migration flows. Edward is based in Barcelona, and is currently engaged in research on aging, longevity, fertility and migration, and the impact of all of these on economic growth.
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