The European Central Bank has managed to calm the markets with its promise of unlimited purchases of eurozone government bonds, because it effectively assured bondholders that the taxpayers and pensioners of the eurozone’s still-sound economies would, if necessary, shoulder the repayment burden. Although the ECB left open how this would be carried out, its commitment […]
“A modest man,” Winston Churchill supposedly quipped about Clement Attlee, his successor as prime minister, “but then he has so much to be modest about.” We should say the same about economists, particularly their ability to forecast anything in a useful and timely manner. Those predicting an imminent American economic decline have usually been no exception. This […]
Earlier this month the National Intelligence Council released its Global Trends 2030: Alternative Worlds report — a document that comes out once per presidential administration — mapping out likely geopolitical trends over the next two decades or so. As usual, it’s a must-read, offering comprehensive analysis of the disparate factors that will drive global politics through 2030. […]
A recent report on the humdrum subject of plans to build new coal-burning plants to generate electricity helps to explain why Asia – led by its rising economic giants, China and India – is at the epicentre of concern about global warming and climate change. Policy makers from nearly all of the world’s countries meet […]
IN THE negotiations to reduce America’s long-term deficit and to avoid the “fiscal cliff” of automatic tax increases and spending cuts at the year’s end, Republicans have so far done most of the retreating. But they still want something in return. Emerging from the first—and so far only— negotiating session with Barack Obama on November […]
China, Japan and South Korea started talks on a free-trade agreement vital to an Asia-wide deal in a move to forge closer economic ties even as they spar over disputed islands. The countries, representing three of Asia’s four biggest economies, will hold the first round of talks early next year, according to Xinhua, China’s official […]
It’s official: Europe has double-dipped. The 17-country euro zone has fallen into its second recession since 2008, as figures released on Nov. 15 showed gross domestic product declining 0.1 percent during the third quarter. That followed a 0.2 percent contraction during the previous three months, according to the European Union’s statistics office. There were some […]
The European Central Bank wields more power now than at any point in its 14-year history. If it wants to use that power responsibly, it needs to be a lot more open with the people whose well-being it aims to ensure. Thanks in large part to its lead role in fighting the euro area’s festering debt crisis, the […]
In a campaign dominated by serious domestic policy concerns, perhaps it’s no surprise the only person asking the presidential candidates about the greatest threat to global financial stability is a comedian. Until Tonight Show host Jay Leno raised the European debt crisis with President Barack Obama last week, the Eurozone was almost completely absent from the presidential […]
Predictions of the date may differ, but the general consensus on Japan remains the same. In a matter of just three to 10 years, the world’s third-biggest economy may start running out of the savings needed to fund its massive public debt. Is it time to start selling yen, or are the doomsayers off target […]
looking beyond borders 