Exposing China’s Overseas Lending

Over the past 15 years, China has fueled one of the most dramatic and geographically far-reaching surges in official peacetime lending in history. More than one hundred predominantly low-income countries have taken out Chinese loans to finance infrastructure projects, expand their productive capacity in mining or other primary commodities, or support government spending in general. […]

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China Has Lots of Treasuries, Not Much Leverage

During the last U.S. presidential election, an editorial in a Chinese state-run newspaper declared that if Washington insisted on flouting Chinese interests (by selling arms to Taiwan, for example), Beijing should “use its financial weapon to teach the U.S. a lesson.” Three years later, America owes even more to China than the $1.16 trillion it owed then. […]

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The $100 Trillion Whammy

The amount of debt globally has soared more than 40 percent to $100 trillion since the first signs of the financial crisis as governments borrowed to pull their economies out of recession and companies took advantage of record low interest rates. Read Here – Bloomberg

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Germany’s Dilemma

There is a new German question. It is this: Can Europe’s most powerful country lead the way in building both a sustainable, internationally competitive Eurozone and a strong, internationally credible European Union? Read Here – The New York Review of Books

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Only Talking Will Do…

Once an idea enters the world, it comes to life and affects the way we treat those around us. Reality takes on the shape of fiction. Narratives are one type of fiction. Economic models are another. Narratives are the stories we tell about ourselves and others to justify the way we behave. Economic models are […]

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‘Europe’ Now Has a Soothing Ring to It?

Since Greece’s insolvent-grade financials first came to light, Europe has consistently and reliably emanated ripples of distress across the Atlantic. Recall the mini-panic of 2011, with its big selloffs in global markets. And periodic fears about the endearingly named PIIGS—Portugal, Italy, Ireland, Greece and Spain—sneezing their malaise onto France and beyond. Then there’s the latest bank-run-that-wasn’t out […]

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The Nightmare Of The Far Right in Greece

The Municipal Theater in Piraeus, Greece, was bathed in an eerie light, with yellow floodlights and red torches combining to illuminate the theater’s neoclassical façade, which now served as the backdrop for a macabre spectacle: At least 1,000 neo-Nazis and their supporters had turned out for a march, and red flags bearing a large, black […]

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The BRICS Expose the West’s Hypocrisy

Who do they think they are, these upstart economies, Brazil, Russia, India, China and South Africa? That might sum up the feeling in the U.S., Europe and Japan as the BRICS nations consider a new development bank that might challenge the World Bank and International Monetary Fund. The move brings to mind Alice Amsden, the Massachusetts Institute of Technology economist who died last […]

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