looking beyond borders

foreign policy and global economy

Archive for the tag “Ruchir Sharma”

This Is How The Coronavirus Will Destroy The Economy

In key ways the world is now as or more deeply in debt as it was when the last big crisis hit. But the largest and most risky pools of debt have shifted — from households and banks in the United States, which were restrained by regulators after the crisis, to corporations all over the world.

Read Here – The New York Times

I Wanted Ronald Reagan. India Kept Electing Bernie Sanders.

In some ways Mr. Modi has proved more statist than the Gandhis. Before he took power he criticised Congress welfare programs as insulting to the poor, who “do not want things for free” and really want “to work and earn a living.” As prime minister, Mr. Modi doubled down on the same programs, expanding the landmark 2006 act that guaranteed 100 days of pay to all rural workers, whether they worked or not.

Read Here – The New York Times

How China Fell Off The Miracle Path

For years now, Donald J. Trump has been sounding the alarm on China, calling it an economic bully that has been “eating our lunch.” The crux of Mr. Trump’s attack is that Beijing manipulates its currency to keep it cheap and give Chinese exports an unfair advantage. But that narrative is so last decade. China is now a threat to the United States not because it is strong but because it is fragile.

Read Here – The New York Times

China May Tip World Into Recession

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, a threshold he views as equivalent to a world recession. It would be the first global slump over the past 50 years without the U.S. contracting.

Read Here – Bloomberg

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