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looking beyond borders

foreign policy and global economy

Archive for the category “Global Economy”

An Economic Fallout Is Coming From All The Asian Military Standoffs

The stakes are high for the U.S. as tensions in Asia ramp up. The country has $1.3 trillion of two-way trade with the region, based on annualised data in the first six months of this year. That’s 52.5 percent of America’s total foreign trade. But that is only part of U.S. linkage with Asian economies. Fixed-asset investments generating those trade flows have also to be taken into account as they directly affect employment and income levels in about one-third of American aggregate demand.

Read Here – CNBC

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The Guardian Of The Liberal World Order

The global financial crisis, which began ten years ago this month, showed that the Western-led rules-based international order’s long-term survival is not inevitable. It is often assumed that if and when the United States loses its place as the global hegemon in that system, China will be the country to lead the world. But what would a Chinese-led order look like?

Read Here – Project-Syndicate

Extraordinary Measures For Ordinary Times

The legacy of 2007 is still with us. Its most devastating and destructive effect was to put a premium on unconventional monetary measures. Unfortunately, when policymakers scrambled in search of “big bazookas” ten years ago, they set the stage for the return of an old character: a strongman willing to pull the trigger.

Read Here – Project-Syndicate

OPEC’s Game-Theory Dilemma

To win the price-setting game, oil producers need to address two related issues: They must maintain prices at a relatively high level without losing more market share to nontraditional producers, and they need to retain unity amid geopolitical tensions and disparities in domestic economic and financial situations.

Read Here – BloombergView

Explaining Global Recovery Amid Political Recession

Today, the world’s major economies are experiencing a steady recovery, despite the occasional setback. To be sure, economic performance is far from reaching its full potential: depending on where one looks, one can find output gaps, excess leverage, fragile balance sheets, under-investment, and unfunded longer-term non-debt liabilities. Still, financial markets show no signs of convulsion, even as monetary stimulus is gradually withdrawn.

Read Here – Project Syndicate

Global Economic Growth Remains On Track, Says IMF

Globalisation: The Rise And Fall Of An Idea That Swept The World

It was only a few decades ago that globalisation was held by many, even by some critics, to be an inevitable, unstoppable force. “Rejecting globalisation,” the American journalist George Packer has written, “was like rejecting the sunrise.” Globalisation could take place in services, capital and ideas, making it a notoriously imprecise term; but what it meant most often was making it cheaper to trade across borders – something that seemed to many at the time to be an unquestionable good.

Read Here – The Guardian

The Secret History Of The Banking Crisis

The new central bank network created since 2008 is of a piece with the new networks for stress testing and regulating the world’s systemically important banks. The international economy they regulate is not one made up of a jigsaw puzzle of national economies, each with its gross national product and national trade flows. Instead they oversee, regulate and act on the interlocking, transnational matrix of bank balance sheets. This system was put in place without fanfare. It was essential to containing the crisis, and so far it has operated effectively. But to make this technical financial network into the foundation for a new global order is a gamble.

Read Here – Prospect

Silicon Valley’s Dangerous Political Game

Google, Facebook, Amazon, and the rest of Silicon Valley are on top of the world. They’ve never enjoyed more success or influence. Yet at the peak of their power, they are stepping on the political accelerator in a way that could backfire spectacularly.

Read Here – Entropy Economics

How One City’s Borrowing Practice Highlights China’s Daunting Financial Risks

China’s finance ministry was technically correct when it reacted to a sovereign debt rating downgrade in May by saying the debts of local government financing vehicles (LGFVs) and state-owned enterprises would not swell the government’s contingent liabilities.

Read Here – South China Morning Post

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