Forget about all the shoes, toys and other exports. China may soon have another thing to offer the world: a recession. That is the prediction from Ruchir Sharma, head of emerging markets at Morgan Stanley Investment Management, who says a continuation of China’s slowdown in the next years may drag global economic growth below 2 percent, […]
In the wee hours of Monday morning, after a marathon 17-hour session, Greece finally agreed to a deal with the euro zone that would give it enough cash to start reopening its shuttered banks, pull it out of arrears, and stave off its exit from the euro. In some ways this deal (or any deal) might […]
The BRICS grouping—comprising Brazil, Russia, India, China, and South Africa—is as contentious as it is misunderstood. Skeptics dismiss the BRICS out of hand, arguing that the coalition is all talk and no action. Enthusiasts, on the other hand, maintain that the BRICS portend a new global pecking order—one in which the emerging economies, led by […]
The first decade of this century witnessed an historic reduction in global poverty and a near doubling of the number of people who could be considered middle income. But the emergence of a truly global middle class is still more promise than reality. Read Here – Pew Research
When the U.S. sneezes, an old saying goes, the world catches a cold. That’s been nowhere more true than in Asia. But as China’s coughing fit grows louder, countries in the region are wondering whether their neighbor’s illness will also prove contagious. Read Here – Bloomberg
Leaders of the so-called BRICS countries are meeting starting Wednesday in Ufa, Russia. Here’s what you need to know about these emerging market economies to follow the summit. Read Here – Bloomberg Bloomberg
It’s easy to moralize Greece’s feckless borrowing, weak tax collection and long history of default, and hey, go ahead; I won’t stop you. But whatever the nation’s moral failures, what we’re witnessing now shows the dangers of trying to cure the problems of weak fiscal discipline with some sort of externally imposed currency regime. Read […]
Futurists and science-fiction writers have at times looked forward to machines’ workplace takeover with a kind of giddy excitement, imagining the banishment of drudgery and its replacement by expansive leisure and almost limitless personal freedom. And make no mistake: if the capabilities of computers continue to multiply while the price of computing continues to decline, […]
The scariest quote for the world economy this week came from a member of the European Central Bank’s executive board. Asked by Eurogroup President Jeroen Dijsselbloem whether Greek banks would open Friday, his answer was stark: “Tomorrow, yes. Monday, I don’t know,” replied Benoit Coeure. Read Here – The Atlantic
During the financial crisis, when the global economy faced its gravest threat since the 1930s, policymakers sprang into action. To stimulate the economy, central banks slashed interest rates and politicians spent lavishly. As a result, the recession, though bad, was far less severe than the Depression. Unfortunately, however, that quick response nearly exhausted governments’ economic arsenals. […]
looking beyond borders 