“We are moving away from a U.S. – or Europe-led world to a world led by China,” writes Stephen King, Chief Global Economist at HSBC in a report. HSBC’s Emerging Market Index for the last quarter of 2012 tells investors to think of the global economy in terms of “two separate narratives.” The first is the “old world” […]
The history of economics is largely a struggle between two opposing schools of thought, “liberalism” and “mercantilism.” Economic liberalism, with its emphasis on private entrepreneurship and free markets, is today’s dominant doctrine. But its intellectual victory has blinded us to the great appeal – and frequent success – of mercantilist practices. In fact, mercantilism remains […]
The crisis was precipitated by weakness in the global economy and the effects of recent policy errors. Other contributors were the strategies left over from the pre-1991 Soviet-style planning era and the Congress Party’s socialist background and bent toward income redistribution in favor of rural areas instead of economic growth. Furthermore, the elections scheduled for 2014 […]
There is reason to believe that the global economy will have to navigate troubled waters till 2015, since the Eurozone is now in recession and the crisis will take time to abate. Europe has made several important moves since December 2011, by injecting some essential liquidity in the system. But it is necessary to understand […]
Most of us still look at China, the world’s second-largest economy, as the undisputed leader among major developing countries. In the long run, however, I’m betting on India to emerge as the more significant global economy. Those who are dazzled by China often forget that much of the rapid growth before 2008 was caused by the shift of […]
In April 2010, when the global economy was beginning to recover from the shock of the 2008-2009 financial crisis, the International Monetary Fund’s World Economic Outlook predicted that global GDP growth would exceed 4% in 2010, with a steady annual growth rate of 4.5% maintained through 2015. But the forecast proved to be far too optimistic. In […]
The directors of the International Monetary Fund and the World Bank return to Tokyo this week for their annual meetings after a gap of 48 years. It’s a different Japan. The ageing of the host nation, the rise of China, the “shift” of the epicentre of global growth to mainland Asia, in more ways than […]
The International Monetary Fund cut its global growth forecasts as the euro area’s debt crisis intensifies and warned of even slower expansion unless officials in the U.S. and Europe address threats to their economies. The world economy will grow 3.3 percent this year, the slowest since the 2009 recession, and 3.6 percent next year, the IMF said […]
The dispute between Japan and China over the Senkaku / Diaoyu islandscontinues to simmer. Even as International Monetary Fund (IMF) chief Christine Lagarde warned about the dangers to the global economyshould the dispute escalate, the fallout from the squabble continues to build momentum. There was always going to be a risk of economic consequences for both […]
If you were to list the factors with the biggest potential impact on the business world over the next few decades, you’d likely cite some common themes – evolving technology, the globalization of markets, and fiscal challenges in Western countries, perhaps. But here’s one you might not have considered: women. According to our research, nearly […]
looking beyond borders 