Election Time: Will Populism Block Effective, Needed Policies?

Election Time: Will Populism Block Effective, Needed Policies?

  Key takeaway – The global economy is stagnating, financial markets are jittery and citizens disfranchised. Effective policy options are available, but – alas – most are not politically viable. Over the next 12 months, key elections will take place in the US, France and Germany and a constitutional referendum in Italy. Populist parties are […]

Brexit: a déjà vu?

Brexit: a déjà vu?

Key takeaway – History has proven that the United Kingdom (UK) is a reluctant European: it systematically questions – but eventually integrates in – the European Union (EU). On June 23, 2016, a referendum will decide whether the UK should remain in the EU. This is not a first: in 1974, just one year after […]

Understanding China’s Rise: The Role of Captive Savings

Understanding China’s Rise: The Role of Captive Savings

photo: Steve Passlow Key takeaway – Over the last three decades, China’s contribution to global growth tripled. The interplay of three domestic factors enabled a growth acceleration: abundant cheap labour flocked into the industrial sector and accepted the financial repression of its savings, which in turn funded massive investment via subsidized lending to state-owned enterprises (SOEs). […]