The United Kingdom’s exit from the European Union is creating a lot of losers: London’s finance industry. British Prime Minister David Cameron. The pound. The grand cause of European integration. But out of all of the market turmoil and uncertainty will emerge at least one big winner: China. Read Here – Bloomberg
British voters didn’t just shock the world and the financial markets by voting to leave the European Union hours ago: They also ignored President Barack Obama, handed Hillary Clinton a potential economic burden and injected new energy into the populist currents roiling politics on both sides of the Atlantic. Read Here – Politico
The UK has voted to leave the European Union after 43 years in a historic referendum. Leave won by 52% to 48% with England and Wales voting strongly for Brexit, while London, Scotland and Northern Ireland backed staying in the EU. Read Here – BBC
The febrile behavior of financial markets ahead of the United Kingdom’s referendum on June 23 on whether to remain in the European Union shows that the outcome will influence economic and political conditions around the world far more profoundly than Britain’s roughly 2.4% share of global GDP might suggest. There are three reasons for this […]
Since last August, when it became clear that the lifting of sanctions on Iran would unleash a massive increase in global oil supplies, $50 has proved to be a ceiling for the trading range of a barrel. But now that this level has been exceeded, will it again become a floor? Read Here – Project […]
A logical implication of the externality argument is that trade agreements lead to freer trade. Some have equated this with the argument for free trade, but the arguments are quite distinct. The case for free trade rests on strong assumptions that may or may not be reasonable. Read Here – Harvard Business Review
A new report is warning that the world is ill-prepared for an increasing rise in disasters, spurred by climate change, rising populations and increasing vulnerability of people in large cities and unregulated housing. Read Here – The World Bank Group
Dumping U.S. bonds is not really an option for any country holding major positions. To the extent that the number of bonds the United States sells is a problem—and it is a problem—it is not because it gives others leverage over America. It is because it is reflective of decades of out-of-control spending, which must […]
The revelations about offshore accounts contained in the so-called Panama Papers are sensational, but they are unlikely to put an end to these tax havens favored by the world’s rich and powerful. Read Here – BloombergView
Apple and the FBI are also aware that their domestic fight may have serious international repercussions. The outcome of their dispute will create an important precedent for foreign law enforcement agencies that seek data from Apple and other technology firms such as Facebook and Google. Read Here – Foreign Affairs
looking beyond borders 