Has the Global Trade-Development Link Peaked?

Has the Global Trade-Development Link Peaked?

Trade has been a key driver of global growth, income convergence, and poverty reduction. Both developing countries and emerging market economies have benefited from opportunities to transfer technology from abroad and to undergo domestic structural transformation via trade integration in the last decades. Yet, more recently, concerns have been raised over whether the current pace […]

China’s Anti-Graft Drive Supports Resilient Growth

China’s Anti-Graft Drive Supports Resilient Growth

Photo Courtesy of :Democracy Chronicles As China’s anti-corruption drive is expanding from the public and corporate sector to financial institutions, some argue that it is hurting economic growth. In reality, it is the rule of law that can ensure China’s resilient growth. On taking office, top leader Xi Jinping vowed to crack down on “tigers […]

New Perspectives on Trade from the Commonwealth

New Perspectives on Trade from the Commonwealth

The recent release of the inaugural Commonwealth Trade Review brings a fresh perspective to debates on global trade issues at a time in which much attention has been focused on negotiating regional and inter- or mega-regional trade agreements.   The Commonwealth Secretariat’s new report effectively frames the particular rôle that the Commonwealth has to play in […]

Weak Economy, Strong Markets: A Paradox That Might End in Tears

Weak Economy, Strong Markets: A Paradox That Might End in Tears

Key takeaway – The global economy is weak, the markets are strong. As a result, the financial system is reaching an unstable equilibrium. The disconnection between (stock and bond) markets and fundamentals is due to abundant macro-liquidity and repeated central bank (CB) intervention. After years of complacency, data signal risks ahead: across the world, growth […]

President Xi and His Reform Agenda – Really

Thanks to misguided stories about President Xi’s reforms, America risks losing the opportunity to participate appropriately in China’s massive economic rebalancing and reform drive. In their Animal Spirits, George A Akerlof and Robert J. Shiller, two Nobel Prize winners, show how human psychology drives the economy and why it matters for global capitalism. In particular, they show […]

"Video Killed the Radio Star": Why Hasn’t Technology Destroyed All Jobs?

Destruction of jobs by machines is an old issue that has appeared several times in history beginning with the famous Luddite resistance to the introduction of textile machinery in England early in the Industrial Revolution. It arose again during the 1960s when President Lyndon Johnson appointed the Bowen Commission to study the technology/job loss nexus […]

If Greece Had Not Existed, Europe’s Leaders Would Have Had to Invent It

δεῖ δ’ αὐτὸν ἐς φάρμακον ἐκποιήσασθαι – He must be chosen from among you as a scapegoat. Hipponax One of the more intriguing aspects of the whole modern Greek drama is the tragicomic way the country seems to be constantly condemned to live out well known themes which come from its own mythology. The latest […]

ECB Taper News

What Business Insider’s Mike Bird somewhat ironically calls #euroboom2015 seems to be well and truly with us. The WSJ’s Simon Nixon spelled  it out for us in his “QE is Working Better than the ECB Dared Hope” article:  “one month into the ECB’s €1 trillion ($1.06 trillion) quantitative-easing program, and ECB President Mario Draghi was […]

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