Seven years ago, the U.S. led an effort to address a problem facing governments everywhere. Each year, people manage to avoid paying an estimated $2.5 trillion in income tax — a giant sum that could be used to combat poverty, update infrastructure or lower tax rates for law-abiding citizens. Now, however, the U.S. is becoming one of […]
The world economy is enjoying a synchronised recovery. But it will prove unsustainable if investment does not pick up, especially in high-income economies. Debt mountains also threaten the recovery’s sustainability, as the OECD, the Paris-based group of mostly rich nations, argues in its latest Economic Outlook. This report is the swansong of Catherine Mann, who […]
If every currency is a consensual delusion, then bitcoin, a digital cryptocurrency that changes hands over the internet, feels more like a consensual hallucination on psychedelic drugs. Read Here – The Atlantic Also Read: Why Bitcoin Fever Is A Bubble Waiting To Burst
For the first time since 2010, the world economy is outperforming most predictions, and we expect this strength to continue. Our global GDP forecast for 2018 is 4.0%, up from 3.7% in 2017 and meaningfully above consensus. The strength in global growth is broad-based across most advanced and emerging economies, says a Goldman Sachs report […]
The United States’ loud complaints about the Chinese currency’s exchange rate, a thorny issue in the two nations ties over the past decade, have quietly faded away since Donald Trump became US president. Read Here – South China Morning Post
Donald Trump, a man who said on his march to the White House that China was responsible for the “rape” of American workers, now says it’s actually the US’s fault that the two countries have an unbalanced economic relationship. Read Here – Vox Also Read: U.S., China Sign $250 Billion in Deals During Trump Visit
Pundits have been saying last rites for the dollar’s global dominance since the 1960s – that is, for more than half a century now. But the pundits may finally be right, because the greenback’s dominance has been sustained by geopolitical alliances that are now fraying badly. Read Here – Project Syndicate
Take more than 500 types of industrial product and China ranks first for 220 of them, globally. Yet Beijing isn’t satisfied with just being the world’s factory for cheap goods. More than a third of the country’s 800-million workforce produce biblical amounts of stuff, generating $3 trillion annually, but China’s position is slipping. It’s political and […]
A number of concerns – ranging from exchange rates to accusations of intellectual property theft – are likely to feature prominently when Donald Trump visits Beijing later this year. Read Here – South China Morning Post
The case for government spending during economic slowdowns has been hotly debated for decades. John Maynard Keynes went as far as to suggest that during a recession governments should pay people to do meaningless tasks — such as digging holes in the ground and then filling them up. Read Here – BloombergView
looking beyond borders 