Economy Business and Finance News

All eyes and ears on Draghi today
The ECB Meeting and More Economic Events with Global Ramifications
Date: 2 October 2014

The ECB meeting and details about the asset purchase plan is the key event of the day.   However, there is something else happening.  A string of disappointing US data and the sell-off in equities have sparked a bond market rally that again has caught many participants wrong-footed.   Read more

Myanmar in Need of Reforms to Maintain Growth
Necessary Reforms are too Important for Myanmar to Pass Up
Date: 1 October 2014

Myanmar has embraced greater economic openness since it emerged from decades of economic and political isolation. Reforms so far and re-engagement with the international community have successfully stimulated growth.   Read more

The ECB has Options for Eurozone Growth
The ECB and its Options for Promoting Eurozone Growth
Date: 1 October 2014

The European Central Bank meets tomorrow.  The focus is on the details of the asset-backed securities and covered bond plan that was announced last month. There are three key issues related to this new initiative:  What instruments will be purchased, how much will be bought, and how long will the purchase program last?  Read more

President Obama prompted to act by ISIS
ISIS manipulates President Obama into military response
Date: 1 October 2014

Before he took office, President Barack Obama predicted that war in Iraq would recruit more terrorists to the jihadist cause. Now he is US leader, Obama has neglected to heed his own warnings.   Read more

International Trade Greatly Affected by Dollar Strength
U.S. Dollar Strength and its Impact on International Trade
Date: 30 September 2014

With the ECB meeting and US jobs data the key events of the week, it is understandable the August US trade balance, due out Friday, is not drawing much attention. However, the combination of the growth differentials, favoring the US, and the strong dollar lead to some concerns that trade will act as a drag on GDP.   Read more

States and Provinces are Acting Alone on Cap-and-Trade
States and Provinces are Initiating Cap-and-Trade Programs Due to Lack of Government Action
Date: 30 September 2014

Unsatisfied with the pace at which the federal government is acting to reduce greenhouse gas emissions, several U.S. states and a few Canadian provinces are forging ahead with their own initiatives.   Read more

Weak economic data from the Eurozone and Asia pump up the dollar
Dollar Strength Persists in the Wake of Weak Eurozone and Japanese Data
Date: 30 September 2014

Today's preliminary September CPI figures were seized upon to drive the euro to fresh lows, against both the dollar and sterling.  We anticipate the weakness of the yen will boost inflation, and in turn, this will take off some pressure off the BOJ to do more.  Read more

Too Close to Call for Marina and Dilma?
Brazil's Marina Silva losing ground to Dilma Rousseff or Not
Date: 29 September 2014

As new information about the presidential race comes in, we are adjusting our views in two ways. (1) We again consider the tail risk of Dilma winning in the first round, though we still think this is unlikely; (2) The chances of Marina winning are obviously smaller, though we continue to think she has a strong chance.  Read more

Modi Takes to the U.S. Streets During Visit
The American Dream From Modi's View
Date: 29 September 2014

As curtain-raisers to this week’s events in New York and Washington, US Secretary of State John Kerry and US Secretary of Defence Chuck Hagel visited Delhi last month, proclaiming India as an ‘indispensable partner for the 21st century’ and the visit as a ‘transformative moment’ in the relationship.   Read more

A nuclear deal between Japan and India won't be as easy as a handshake
India's potential nuclear deal with Japan likely won't be easy
Date: 26 September 2014

In recent weeks we have seen the ‘bromance’ between India and Japan reach new heights. Earlier this month, India’s Prime Minister Narendra Modi visited Tokyo amid media hype of a special relationship, and even a de facto alliance, between the two countries.   Read more

How will Beijing's influence shape Hong Kong's Future?
Hong Kong wrestling with the increasing influence of Beijing
Date: 25 September 2014

On 31 August, when Beijing’s offer of universal suffrage to Hong Kong came with an extremely restrictive framework allowing for only two to three establishment candidates, it was just another sign of the Chinese government taking greater control over its special administrative region.   Read more

India's Manufacturers in Need of a Boost
Can India's Manufacturing Sector Grow Under the Current Government?
Date: 24 September 2014

To make progress on manufacturing, India must seize the opportunity provided by international production sharing networks, which have propelled other emerging economies of Asia forward. Today, the share of manufacturing in the GDPs of China, Thailand and Malaysia is in the range of 25–35 per cent, while in India it is 15 per cent.   Read more

Markets Digest Economic News from Around the World
Markets Digest PMI Readings from China and the Eurozone
Date: 23 September 2014

There are two main pieces of economic news today. The first is HSBC's flash manufacturing PMI for China. The second piece of economic news today is the flash eurozone PMI readings.  Read more

Australian housing bubbles up in value
Is Australia’s housing bubble about to pop?
Date: 22 September 2014

If Australia’s property bubble bursts, the consequences would be disastrous for an economy dominated by oversized banks. But Government policies aimed at propping up the market are simply making the bubble bigger. And bigger.   Read more

A bank account for every Indian citizen
Modi's financial inclusion means a bank account for every Indian citizen
Date: 19 September 2014

On Independence Day 2014, India’s Prime Minister Narendra Modi launched his financial inclusion plan to provide a bank account to every Indian household.   Read more

Fed Chair Yellen and ECB leader Draghi
Some Additional Insight on the Federal Reserve and ECB
Date: 19 September 2014

The launch of the new 4-year lending facility by the European Central Bank was disappointing.  Participation was light. Even with the disappointing TLTRO, the divergence between the trajectory of Fed and ECB policy is clear.   Read more

Fed Chair Yellen and the FOMC Stay the Course
The FOMC Decision, Scottish Independence, ECB and Other News
Date: 18 September 2014

The  Scotland vote today is the main event, and as important as a "yes" vote would be, it is not the only event today.  Today, the markets will continue to digest yesterday's FOMC meeting.     Read more

Alibaba set to price IPO shares amid investor frenzy
Alibaba set to price IPO shares amid surging investor demand
Date: 18 September 2014

 Alibaba Group Holding the chinese e-commerce giant will sell $22 billion of shares on Thursday, finalizing a two week road show that pulled interest from world-wide investors and will likely be the world's largest initial public offering.

Alibaba shares will be priced after the markets close at 4pm. Thursday and will trade on the New York Stock Exchange on Friday with the ticker "BABA."  Read more

The Demand for Coal in China May Have Reached a Peak
Has China's Appetite for Coal Finally Peaked?
Date: 17 September 2014

A recent report from Greenpeace found that China's coal consumption declined in the first half of this year and new Chinese government data suggests that the country's coal imports have dropped.   Read more

Japanese School Children Gather in an Optimistic Pose
Surprisingly Optimistic Japanese Youth Face a Bleak Future
Date: 17 September 2014

The youth of Japan appear to face a bleak future — a catastrophic budget deficit, ageing population and collapsing social security system. Despite this, according to data released last year, Japan’s youth are astonishingly positive in their outlook.   Read more

The FOMC meeting and Scotland's referendum top this week's events
FOMC meeting, Scotland's referendum headline this week's events
Date: 16 September 2014

The week's key events kick-off today as the FOMC starts its two-day meeting.   Thursday features Scotland's referendum, the ECB's TLTRO and the SNB's meeting.   Read more

Indian food price inflation incredibly high
Will trade help defeat India's terribly high food price inflation?
Date: 16 September 2014

Retail food inflation continues to persist at near double digits — 9.36 per cent in July. In the case of food inflation, it is the same old story with the prices of proteins (eggs, fish, and meat), milk, fruits and vegetables leading the inflationary charge.  Read more

China and India strengthen their strategic relationship
The strategic relationship between China and India is carrying more weight
Date: 15 September 2014

The visit of Chinese President Xi Jinping to India this week, so early in the term of India’s new Prime Minister, Narendra Modi, underlines the growing strategic weight of the relationship between the two countries.   Read more

Indian foreign direct investment in South Asia not realized
Promises of Indian foreign direct investment in South Asia go unfulfilled
Date: 12 September 2014

There have been promises of greater Indian investment in South Asia for a long time. A report produced by the Asian Development Bank (ADB) in 2007 argued that India would play a key role in investing in South Asia and this in turn will stimulate intra-regional trade in the region. The report made special reference to the rapidly growing Indian IT industry and identified it as a potential investor in South Asia.  Read more

BRICS create the New Development Bank to finance emerging economy projects
BRICS creation of the New Development Bank called a landmark achievement
Date: 11 September 2014

The creation of the BRICS New Development Bank (NDB) to finance infrastructure and sustainable development projects in emerging economies is a landmark achievement. Developing nations have lost faith in the current system with its strict conditions on development finance and its inability to insulate countries from financial shocks.  Read more

Coordinated monetary policy and global financial market volatility
The case for coordinated monetary policies helping to curb global financial market volatility
Date: 10 September 2014

Since the onset of the North Atlantic financial crisis (NAFC) in 2008, central banks in the US and the other major advanced economies have pursued highly accommodative monetary policy, including through unconventional policy actions. Policy rates have been near zero in these economies for almost five years, and both short-term and long-term interest rates have touched historic lows.  Read more

Latin America and Asia's Biggest Powers' Interest
Asia's biggest powers being lured to Latin America
Date: 9 September 2014

Considered for most of the twentieth century as the United States’ backyard, Latin America is today a place where other major powers seek to exercise a growing influence and find a steady supply of energy and natural resources as well as markets and investment outlets.   Read more

Scottish voters near referendum day on independence
Scottish independence hangs on to a narrow lead heading to referendum day
Date: 8 September 2014

The Yes vote has taken a narrow lead, but the vote is too close to call ahead of September 18’s vote on Scottish independence. Increasingly, however, many Scots are saying ‘what have we got to lose by separating from a London-centric United Kingdom?’   Read more

Sterling lower in Asia on majority favoring Scottish independence
Sterling gets pounded after YouGov poll shows slim majority favor Scottish Independence
Date: 8 September 2014

Sterling has been pounded by the YouGov poll that showed that those favoring Scottish independence have gained a slim majority for the first time.  It does not matter than other polls have yet to confirm it.  A "yes" vote was widely seen as a high impact event, though calling it a Black Swan probably does not do justice to the long planned event.  The major parties in the UK are expected to announce a new devolution agreement for Scotland to entice the rejection of independence.   Read more

Indonesian factory workers would hopefully benefit from a new industrial policy.
Can Indonesia's manufacturing sector be helped with a new industrial policy?
Date: 5 September 2014

The World Bank and Asian Development Bank have recently advocated the importance of Indonesia’s manufacturing sector. Manufacturing is considered a key sector for the advancement of the country’s overall economy and as an important source of formal employment. The reality on the ground since the 1997–98 economic crisis, though, reveals a troubling picture about the sector.   Read more

Myanmar's foreign exchange market reform
Myanmar's foreign exchange market reform has a long way to go
Date: 4 September 2014

In April 2012, by abolishing the official pegging of the Myanmar kyat to the Special Drawing Right (SDR) of the IMF, Myanmar terminated the decades-old de facto multiple exchange rate system and moved to a managed floating exchange system. While noteworthy in its own right, this is merely the first step in an arduous journey of foreign exchange market reform. The Central Bank of Myanmar is now facing two interlinked challenges: establishing the institutions for a formal foreign exchange market and transferring informal market activities into the formal market.   Read more

G20 Trade Ministers Meet to Discuss Global Growth
Should the G20 have a global growth target?
Date: 3 September 2014

The global recovery is strengthening but remains weak. A global growth target, pursued by the G20, could significantly strengthen this recovery process. But such a macroeconomic target needs to be supported by microeconomic reforms.   Read more

Mt. Fuji
How long can Japan sustain its Mount Fuji of debt?
Date: 2 September 2014

The highest debt-to-GDP ratio among the world’s rich nations, allied to its ticking demographic time bomb, make Japan’s economic decline inevitable. The only question is whether the fall is gradual, or we see a spectacular crash with global repercussions.   Read more

ASEAN Banks
Banking integration in ASEAN gathers pace
Date: 1 September 2014

The ASEAN Economic Community, planned to come into effect in 2015, is expected to liberalise goods, capital and skilled labour flows in the ASEAN region. While there has been considerable progress in the area of trade integration, financial integration still lags behind. The ASEAN Banking Integration Framework, which aims to liberalise the banking market by 2020, could help pave the way for further integration and the entry of ASEAN banks into regional banking market   Read more

Month-end consolidation and adjustments difficult to predict.
US Dollar Consolidating in Month-end
Date: 29 August 2014

The US dollar is consolidating, largely within yesterday's ranges.  Month-end and quarter-end hedge and portfolio adjustments are notoriously difficult to predict.  There is also large option expires today.  Given the EU Summit this weekend, a holiday in the US on Monday, and no fewer than five central bank meetings among the high-income countries next week, the broad consolidative, even in choppy, tone is likely to carry into the weekend.    Read more

Shanghai Husi Food Company
Blowing the lid off food safety in China
Date: 28 August 2014

In July, Shanghai’s Dragon TV exposed illegal food handling practices by Shanghai Husi Food Co., a major meat supplier to multinational corporations such as McDonald’s and KFC.  Read more

An increase in goal tax is expected to scale India's renewables back up.
Coal Tax Increase Scales Up Indian Renewables
Date: 20 August 2014

India needs economic growth for sustainable development, which in turn requires access to clean, convenient and reliable energy. An estimated 400 million people still lack access to electricity, and blackouts are still common across the country.   Read more

Russian flag held high a midst unraveling of events in Ukraine.
Russia Counting the Cost of Adventure in Ukraine
Date: 19 August 2014

Despite Russian humanitarian efforts, Ukrainian government is convinced the whole thing is a pretext for Putin to send in armed troops to "protect" the humanitarian mission of the convoy - and no one is too sure how things will pan out.  Read more

Firmer Dollar Against Most Currencies Except the Sterling
Firmer Dollar Against Most Currencies Except the Sterling
Date: 18 August 2014

Amid light new, the US dollar is slightly firmer against most of the major currencies, except sterling.  Carney's comments over the weekend, suggesting that the BOE will not necessarily wait for wages to rise before hiking rates, helped lift sterling after a six-week decline.    Read more

Capital markets are subdued at the end of the week.
Capital Markets Subdued, European Markets Thinned by Assumption Day
Date: 15 August 2014

The capital markets are subdued. European markets have been thinned by the Assumption Day holiday.  The US dollar is a bit softer against most of the major currencies, except the Japanese yen.  Equity and bond markets are mostly firmer as well.  

 
Stagnant economic growth in eurozone.
Growth Flatlines in Euro Zone Following Unexpected Contraction in German Economy
Date: 14 August 2014

The euro zone economy stagnated in Q2, as the rest of the region offset the unexpected 0.2% contraction in the German economy.  The implied yield of the German bund future dipped below 1.0%, though the yield in the cash market held in slightly better.  The euro itself, did not make a new lows.   Read more

Belarus farmers expected to profit as a result of Putin's sanctions.
Putin's Sanctions Will Result in Farmer Profits in Belarus - Here's Why
Date: 13 August 2014

Increasingly the saga of East-West economic relations is developing independently of the actual conflict in Ukraine and the surrounding region, leading to various unexpected outcomes.  Read more

BOE quarterly inflation report pushes down the sterling.
Sterling Pushed Down Following Bank of England's Quarterly Inflation Report
Date: 13 August 2014

 Today will likely prove to be the most eventful of the week.   It has already featured Q2 Japanese GDP, a slew of Chinese data, euro zone industrial output and UK employment and the BOE's quarterly inflation report.  Still to come are US retail sales and Fed talk.    Read more

BRICS countries come together to form international financial architecture.
NDB and AIIB Initiatives Sound Global Finance Wake Up Call
Date: 12 August 2014

 July 2014 marked the seventieth anniversary of the Bretton Woods conference, which laid the foundation for the post-WWII international financial system. The conference established the IMF to stabilize the world economy and the World Bank to finance post-war reconstruction. Both have evolved into pillars of present-day global finance.  Read more

From Tecchi, emerging markets in the week ahead.
Weekly Preview: Emerging Markets Set the Tone
Date: 11 August 2014

With many major idiosyncratic EM risk events now behind us, the general tone will be almost entirely set by the mood in developed markets and ongoing geopolitical events. Still, we think the recent sell-off in global financial markets may have created some opportunities to establish EM trades at better level. Long MXN and INR, for example, seem to offer good short-term opportunities.  Read more

China's city Xi'An expecting growth to slow long term despite early stimulus.
Slower Growth for China on the Horizon
Date: 11 August 2014

China’s growth outlook is the focus of analysts and economic policymakers all around the world. Nobody can afford now to ignore the scale of the economy and its impact on the global growth outlook. China already accounts for more than 12 per cent of world output in nominal terms and that share continues to grow steadily.  Read more

The world economy is deeply affected by geopolitical risks.
Geopolitical Risks Ahead of the Weekend as Falling Yields Weigh on Dollar
Date: 8 August 2014

The key driver of the global capital market is the heightened geopolitical risks ahead of the weekend.  These now include the US air strikes in Iraq, as well as a sense that the situation in the Ukraine is reaching an inflection point.  Putin needs to step up his support for the insurgents in east Ukraine in some fashion, or risk losing that insurgency effort.   Read more

Mario Draghi finds glimmer of hope in even the worst conditions.
Counting Down the Hours, Waiting for Draghi
Date: 7 August 2014

The US dollar recouped some of the modest losses seen in North America yesterday.  The focus is not, though, so much on the US today.  The Bank of England, and even more important for the markets today, the ECB meets.  Draghi's press conference is the highlight of the remainder of today's 24-hour session.    Read more

British PM David Cameron announces cutbacks to immigrant benefits.
European politics dances to the drum of the far right
Date: 6 August 2014

Instead of championing the EU and the economic benefits of immigrants, Europe’s mainstream parties are moving further to the right. David Cameron’s clampdown on immigrant benefits was one policy designed to win back votes from far-right party UKIP.  Read more

Indian worker carries sacks of grain at wholesale market.
India Refuses to Sign Global Agreement on Trade Facilitation
Date: 5 August 2014

India has played the spoiler by refusing to sign the global agreement on trade facilitation agreed at the Bali Ministerial of the World Trade Organisation in December 2013.  Read more

Beginning of the week marks a fork in the road for markets.
Markets Seek Direction at Start of the Week
Date: 4 August 2014

 Most of the capital markets action here at the start of the week fall into one of two buckets.  The first bucket is consolidation. The second bucket is evident in the bond market.    Read more

People seeking employment.
Disappointing US Employment Data Evokes Muted Reactions in Market
Date: 1 August 2014

The US employment data was disappointing. The short-term market had been leaning the wrong way. The recent data had fanned hopes that the labor market was accelerating, but today’s data suggest the pace of improvement has not changed.  Read more

Xi Jinping at BRICS Summit.
BRICS Lay Foundation, but Concrete Action is Questionable
Date: 31 July 2014

Unsurprisingly, the BRICS countries sixth annual summit in Brazil once again polarised public opinion. When the proposal for a BRICS development bank and currency swap arrangement was put forward in March 2012, the reaction was already divided.   Read more

GDP figures mark gains in stocks.
Strong GDP Figures Extend Gains to Dollar and Stocks
Date: 30 July 2014

The US dollar is extending its gains in response to the strong US GDP figures. There are four elements of the report to note.   Read more

Zhu Rongji speaking in China.
Pressure in China to Allow Emerging Economies Greater Presence in Financial System
Date: 29 July 2014

The experience that Chinese leaders gain in domestic politics has a big impact on how they view and handle international issues.  Read more

Economic calm despite a busy week ahead.
Quiet Start to the Week Despite Upcoming Economic Events
Date: 28 July 2014

This is an eventful week, but the economic calendar starts slowly.  The FOMC meeting, first look at Q1 US GDP and the US jobs report, are the highlights.    The capital markets are also off to a slow start.  The US dollar is narrowly mixed.  Against most of the major currencies, the greenback has been confined to about a 15 tick range.   Read more

Hong Kong night lights
Huge Obstacles in $400 Billion Russia China Gas Deal
Date: 25 July 2014

 With its economy flat lining and being held up by oil and gas exports, Russia desperately needs to increase the scale of those exports.   Read more

action limited despite important developments
Important Developments Come to Light but Price Action Mostly Limited
Date: 24 July 2014

There have been five important developments today, but price action has been mostly limited.  Confirmation that the Reserve Bank of New Zealand is pausing after hiking rates for the fourth consecutive time has sent the New Zealand dollar sharply lower.  Read more

All new lows for the Euro in 2014.
Euro Hits All New 2014 Lows
Date: 23 July 2014

The euro slipped through the low of the year and the weekly trend line going back to 2012. However, it found bids near $1.3460 and has recovered a bit.  Read more

Capital city Jakarta in Indonesia.
Indonesia Faces Difficult Decisions Regarding Debt
Date: 22 July 2014

Indonesia’s next president will need significant funds to fulfil election promises. But both candidates Joko Widodo (Jokowi) and Prabowo Subianto have expressed caution about international borrowings.  Read more

Forex Markets bid nervous calm at start of the week.
Nervous Calm Amid Forex Markets to Start the Week
Date: 21 July 2014

 The US dollar is little changed to start the week. The apparent calm masks heightened geopolitical tensions in Ukraine and Gaza.

   Read more

Markets weary of dollar's power.
Dollar Limps into Weekend as Markets Wary of Geopolitics
Date: 18 July 2014

Geopolitical events are overshadowing a light economic calendar ahead of the weekend.   The shooting down of the Malaysian plane over Ukraine and the Israel's launch of a ground assault in Gaza dominate the focus.   Read more

Financial assistance to help expand South Asia trade.
Chinese Financial Assistance to Boost Intra-regional Trade in South Asia
Date: 17 July 2014

Since the mid-2000s, the South Asian region has witnessed an incoming wave of Chinese financial assistance. In some South Asian countries like Sri Lanka, China has overtaken traditional donors by highly engaging in post-war infrastructure development activities.  Read more

Currency gaines attributed to Yellen comments.
Dollar Firms on Hump Day, but does it have Staying Power ?
Date: 16 July 2014

 Recent comments by Yellen give rise to concern as to whether misinterpretation may be responsible for attribution to dollar gains and economic growth. What’s really going on here?

  Read more

The Economic Impact Of The World Cup
The Economic Impact Of The World Cup
Date: 16 June 2014

What’s the World Cup worth? For some, it is a cash cow and a commercial bonanza; to others, a waste of money. Is hosting the tournament worth it?  Read more

Asia’s Economic Strategy Beyond Free Trade Agreements
Asia’s Economic Strategy Beyond Free Trade Agreements
Date: 11 June 2014

The launch of negotiations on the Trans-Pacific Partnership (TPP) (in APEC’s backyard led by the United States) and (later) the Regional Comprehensive Economic Partnership (RCEP) (under the umbrella of ASEAN) is dominating thinking about regional integration. These agreements are designed in part to leverage value out of the plethora of bilateral free trade agreements (FTAs) negotiated over the past 15 years. Yet trans-regional FTAs, like the proposed TPP, are only a small step, incidental to realising the potential of Asian economic integration.  Read more

Western Hypocrisy? – Why Is China Always Chided For Currency Intervention, But N
Western Hypocrisy? – Why Is China Always Chided For Currency Intervention, But Not Europe?
Date: 22 May 2014

Recently, China's yuan has depreciated, and there is some evidence that Chinese officials got the ball rolling and may be continuing to guide the currency lower. This has been the cause of great consternation for G7 policy makers. Yet while the U.S. and Europe often issue statements against Chinese currency intervention, little is done when European officials purposely talk the euro lower.  Read more

5 Developments To Look Out For In Asian Bond Markets In 2014
5 Developments To Look Out For In Asian Bond Markets In 2014
Date: 20 May 2014

This year is shaping up to be another challenging year for bond markets in Asia after a see-saw 2013 which saw prices rise at the start of the year, and then fall back on news that the US Federal Reserve plans to reduce or “taper”its quantitative easing operations.  Read more

Dongguan Factory Strike: A Turning Point For Chinese Labour?
Dongguan Factory Strike: A Turning Point For Chinese Labour?
Date: 19 May 2014

Last month, tens of thousands of Chinese workers staged a massive strike at a shoe factory in Dongguan, lasting over two weeks and involving over 40,000 people. The strike was notable for both for its scale and substance – the workers not only demonstrated significant legal knowledge and political savvy, but also showed a wider sense of workers' consciousness.  Read more

Why Hasn't The US Sanctioned Gazprom?
Why Hasn't The US Sanctioned Gazprom?
Date: 15 May 2014

As tensions between the West and Russia continue to rise over Ukraine, it is notable that no sanctions have yet to be placed on Russia’s state gas giant Gazprom. Given Gazprom's centrality to the Russian economy, it's unlikely that Putin won't react if the company does come in for Western sanctions.  Read more

Why Chinese Living Standards Matter More Than Being The World’s Largest Economy
Why Chinese Living Standards Matter More Than Being The World’s Largest Economy
Date: 14 May 2014

The Chinese economy is on track to replace the U.S. as the world’s largest economy – measured by purchasing power parity (PPP) – by the end of this year, according to a recent World Bank report. But while emerging economies are catching up with advanced economies, but differences of living standards remain far apart.  Read more

Why Obama Should Abandon The Asian Pivot
Why Obama Should Abandon The Asian Pivot
Date: 12 May 2014

The U.S. pivot to Asia has undergone considerable challenges ever since it was first announced in November 2011. Ultimately it is highly unlikely to achieve its main aim – to compel China to accept U.S. leadership in the region.  Read more

Why ASEAN Is Mongolia’s Best Chance For A Prosperous Future
Why ASEAN Is Mongolia’s Best Chance For A Prosperous Future
Date: 5 May 2014

Despite its great potential, the Mongolian economy has not developed as well as expected – a trend that can be reversed with sound regional integration. But finding the right economic partners is difficult; and the nation runs the risk of falling behind as an underdeveloped and isolated “white spot” on East Asia’s dynamically advancing economic integration map.  Read more

Bottled Water: The Biggest Marketing Scam Of The Century?
Bottled Water: The Biggest Marketing Scam Of The Century?
Date: 2 May 2014

 In many developed countries around the world, tap water is widely considered to better for you than the bottled variety and subject to more stringent safety checks. Why then do we insist on purchasing something which is up to 300 times more expensive than what comes out of our taps?  Read more

Will Japanese Politics Undermine The Reform Agenda?
Will Japanese Politics Undermine The Reform Agenda?
Date: 30 April 2014

Abe's reform plan, now in its critical phase, will be derailed if tensions persist, both at home and abroad.  Read more

Why Economists Can No Longer Ignore Environmental Issues
Why Economists Can No Longer Ignore Environmental Issues
Date: 29 April 2014

The concept of environmental capital is throughly entrenched in policy dicussions but largely missing from mainstream economic curriculums. This column argues environmental externalities, climate change, and constraints on natural resources will constantly and deeply affect humankind’s future. The teaching of economics, especially growth economics, should stop ignoring them.  Read more

New, More Transparent, Contracts To End Africa’s ‘Resource Curse’?
New, More Transparent, Contracts To End Africa’s ‘Resource Curse’?
Date: 28 April 2014

Contrary to logic, resource-rich countries in Africa have tend to experience less economic growth in the long run than those deprived of natural riches. To reverse this trend, NGOs have been campaigning for greater transparency and accountability in the management of revenues from oil, gas and mining.  Read more

Five Signs That Greece Is On The Road To Recovery
Five Signs That Greece Is On The Road To Recovery
Date: 25 April 2014

The long-troubled Greek economy successfully returned to international bond markets this month with relative success. Having been at the centre of the European debt crisis, how important is Greece’s recovery to the region?  Read more

Why Is India Still The World’s Largest Arms Importer?
Why Is India Still The World’s Largest Arms Importer?
Date: 24 April 2014

Although not the world’s top military spender, India has been the world’s largest arms importer since 2010. The need to modernise has indeed been one major reason for India’s status as top spender on arms imports. But there are other factors at work too.  Read more

The New Geopolitics Of Risk
The New Geopolitics Of Risk
Date: 23 April 2014

The Cold War has not made a comeback. Rather, the geopolitics of new risks is taking off. The Ukraine crisis is just a tip of the iceberg.  Read more

Can Asia Tackle Its Inequality Problem?
Can Asia Tackle Its Inequality Problem?
Date: 22 April 2014

While emerging Asia continues to achieve a stunning performance in poverty reduction, the gap between rich and poor keeps widening too. How sustainable is this poverty reduction in the face of rising inequality?  Read more

Why Central Asia Needs Economic Integration
Why Central Asia Needs Economic Integration
Date: 21 April 2014

Central Asia has for centuries been seen as a neglected Russian “backyard,” but international interest in the region has increased over the last two decades because of its vast stores of energy and natural resources. But to achieve a brighter future the region must pursue economic integration.  Read more

Will Russian Sanctions Compromise Global Energy Security?
Will Russian Sanctions Compromise Global Energy Security?
Date: 17 April 2014

After a series of headline-grabbing statements about the possibility of “switching” European consumers over to American gas, the US media hastened to announce the launch of Obama’s oil and gas offensive against Russia. In reality, the EU is not prepared, neither technically nor in terms of price, to buy its energy resources from the US. It would take at least ten years to adapt even the technically advanced German energy system to work with American gas supply. In a crisis, when it is particularly urgent to see a quick return on an investment, such projects are unrealistic.  Read more

Why Taiwan Needs Regional Integration
Why Taiwan Needs Regional Integration
Date: 16 April 2014

Recent demonstrations in Taiwan against a trade deal with China reflect the public’s deep mistrust with the mainland. Yet Taiwan needs these trade deals to sustain its economy, not just with China, but with the rest of Asia.  Read more

Game Of Thrones Economics: Why Hasn’t Westeros Had An Industrial Revolution?
Game Of Thrones Economics: Why Hasn’t Westeros Had An Industrial Revolution?
Date: 15 April 2014

The world of the popular HBO series Game of Thrones bear striking similarities to that of Western Europe during the 18th century. But whereas the Industrial Revolution saw a rapid advancement in Europe’s society and economy, Westeros has remained the same for some 6,000 years.  Read more

ECB Quantitative Easing: Just A Matter Of Time?
ECB Quantitative Easing: Just A Matter Of Time?
Date: 14 April 2014

Even as ECB officials continue to play down the generalized risk of deflation in region and claim that inflation expectations remain anchored, experts are calling on the central bank to undertake unconventional measures to combat weakness in price pressures that threatens to undermine the euro area’s recovery. The issue is no longer if the ECB will undertake quantitative easing, but when.  Read more

Why Businesses Must Focus On Long-Term Growth
Why Businesses Must Focus On Long-Term Growth
Date: 11 April 2014

Excessive short-termism is always a problem for policy, but the Global Crisis has brought it sharply into focus. This column introduces a report that discusses how a shift to longer-term solutions is necessary and possible. A key message is that businesses as well as governments need to take a longer-term view. The report identifies ways to overcome the current impasse in key economic, climate, trade, security, and other negotiations.  Read more

Singapore’s Impotent Immigration Policy
Singapore’s Impotent Immigration Policy
Date: 10 April 2014

The large influx of foreign workers into Singapore has begun to cause tension between immigrants and locals. The obvious solution for the Singaporean government, would be to drastically decrease the number of foreign workers. But here there is a problem: its development model relies on foreign workers.  Read more

Can Bangladesh Live Up To Its Economic Promise?
Can Bangladesh Live Up To Its Economic Promise?
Date: 8 April 2014

Thanks to its strategic geopolitics, Bangladesh is now being courted by both China and the United States. It is a historical moment when right economic policies, appropriate investment levels and favorable demographics could unleash a period of growth and prosperity. However, with wrong policies, Bangladesh could suffer a new era of stagnation, poverty and fall behind its regional peers.  Read more

Why Unfair Distribution Of Wealth Will Lead To Our Downfall
Why Inequality Will Lead To Our Downfall
Date: 4 April 2014

If America’s distributional game continues to create a few big winners and many who consider themselves losers by comparison, the losers will try to stop the game – not out of envy but out of a deep-seated sense of unfairness and a fear of unchecked power and privilege. Then we all lose.  Read more

Why Ukraine’s Gas Industry May Be The Most Profitable In The World
Why Ukraine’s Gas Industry May Be The Most Profitable In The World
Date: 3 April 2014

Whether it likes it or not, kicking and screaming, Ukraine will have to transform its energy sector, if it hopes to see promised IMF money. Privatizing these assets could raise $50 billion, but the benefits for investors may be even higher.  Read more

Why Russia & The US Must Work Together On Ukraine
Why Russia & The US Must Work Together On Ukraine
Date: 2 April 2014

Despite their current animosities, Russia and the U.S. need each other to maintain influence in Eastern Europe. For different reasons, neither side wants the crisis to continue, and each has a different read on the situation.  Read more

How Will Emerging Markets Retaliate Against Fed Tapering?
How Will Emerging Markets Retaliate Against Fed Tapering?
Date: 1 April 2014

To navigate the U.S. away from the huge monetary stimulus, the Federal Reserve has initiated tapering. But in an integrating world, the emerging economies, especially India, China and Brazil, will see collateral liquidity damage. How will the Fed enforce its mandate? How will central banks in emerging markets react?  Read more

Why A Major War In Asia Is Unlikely
Why A Major War In Asia Is Unlikely
Date: 31 March 2014

The rising tensions between China and Japan over the Senkaku/Diaoyu islands has led some experts to draw parallels with the Sarajevo incident, which sparked off World War I in Europe. Yet while is a significant risk that the conflict will result in a military confrontation, an all-out war is unlikely given economic reasons.  Read more

How Did Brazil’s Economy Go From Promising To Precarious?
How Did Brazil’s Economy Go From Promising To Precarious?
Date: 27 March 2014

This year’s FIFA World Cup and the 2016 Olympics seem to be a coronation of Brazil’s undeniable and startling success. But with the Brazilian presidential elections looming later this year, a surge in street protests and growing economic unrest, will Latin America’s largest nation cope under the international spotlight?  Read more

Why The Yuan Won’t Replace The USD As The World’s Reserve Currency
Why The Yuan Won’t Replace The USD As The World’s Reserve Currency
Date: 26 March 2014

In the eyes of many commentators, the US dollar’s reign as the global reserve currency is under threat from two angles. The first comes from within the US—a permanent deficiency in demand or secular stagnation; and the second from the People’s Republic of China (PRC), and in particular from a fully convertible yuan.  Read more

Russia Looks East As Relations With West Deteriorate
Russia Looks East As Relations With West Deteriorate
Date: 25 March 2014

The standoff over Ukraine has seen Europe and the U.S. warn Russia of economic isolation. But this is unlikely to matter, as it would only accelerate a Russian pivot towards China – with an imminent multi-billion natural gas deal set be a centerpiece of that strategic shift.  Read more

What The ‘Chinese Dream’ Really Means
What The ‘Chinese Dream’ Really Means
Date: 24 March 2014

For a year, President Xi Jinping and Premier have talked about the Chinese dream, while outlining massive reforms to pave the way for the realization of the dream. As the Two Sessions took place in Beijing, China’s leaders took a hard look at the future challenges. Is the Chinese dream still reachable?  Read more

Is There Room For Another International Currency?
Is There Room For Another International Currency?
Date: 21 March 2014

The dollar remains dominant in the global monetary system. The clearest sign for its prevailing status is the dollar’s role as an exclusive currency used in the global oil market. This column suggests that there is room for more than one international currency even in a market as homogenous as the oil one. This is consistent with the view that network increasing returns are not as strong as sometimes supposed, first-mover advantage is not everything, and incumbency is no guarantee for continued dominance.  Read more

UK Economy: Recovery Is Futile If It’s Led By The Finance Sector
UK Economy: Recovery Is Futile If It’s Led By The Finance Sector
Date: 20 March 2014

Whether the UK is in recovery or not depends on who you ask and, more importantly, the political stake they have in the answer. At present, most of the growth is being powered by the finance sector. But what’s the point of a recovery that only benefits the rich and does nothing to address inequality?  Read more

China’s Most Powerful Economic Weapon: Education?
China’s Most Powerful Economic Weapon: Education?
Date: 19 March 2014

China’s students are not only achieving the best results in international educational assessment, but are also receiving the most in educational investment than the rest of the world. Traditionally, Chinese people have been highly appreciative of the role of education in development, and the national obsession with education is also reflected in government policy.  Read more

Why Russia Really Wants Crimea
Why Russia Really Wants Crimea
Date: 18 March 2014

According to some analysts’ estimates, Russia’s incursion into Crimea could cost the country more than $70 billion in economic damage. Yet the determination of Putin to control the breakaway region may be driven by a deeper reason: to gain the wealth of offshore gas and oil reserves; and cut off Ukraine’s hopes of energy independence from Moscow.  Read more

Can Myanmar Avoid Recent Emerging Market Volatility?
Can Myanmar Avoid Recent Emerging Market Volatility?
Date: 17 March 2014

After half a century of isolation, Myanmar’s immediate challenge is to sustain reforms, boost foreign investment and diversify its industrial base. Unlike other Asian tigers, it must cope with a far more challenging international environment.  Read more

Why Russia Fears ‘Losing’ Ukraine
Why Russia Fears ‘Losing’ Ukraine
Date: 14 March 2014

There is a common perception that Russia's move on Crimea shows its strength. A closer examination suggests it is more complicated that it may seem. Like the bully at the school yard, the aggressiveness conceals weaknesses.  Read more

Can Chinese ‘Soft Power’ Win Hearts & Minds In Africa?
Can Chinese ‘Soft Power’ Win Hearts & Minds In Africa?
Date: 13 March 2014

China’s links to Africa have grown from mere trade partnerships, to increased media and educational tie-ups. But unless Chinese media and web services can be counted on to provide information about Beijing’s ventures in Africa independently and accurately, viewership will suffer and the “soft power” offensive will falter.  Read more

Bitcoin Crash: The End Of A Gold Rush?
Bitcoin Crash: The End Of A Gold Rush?
Date: 12 March 2014

Bitcoin, in its present form, has stark similiarites with gold. Both are backed by no one; both are, relative to fiat currency, inconvenient for day to day use; and both lack intrinsic value. As it turns out, another comparison can be made with bitcoin and gold: the collapse of Mt.Gox share similar lessons to the end of the Australian and New Zealand gold rushes in the 19th century.  Read more

Do Children Bring Happiness Or Misery?
Do Children Bring Happiness Or Misery?
Date: 11 March 2014

Study after study has shown that those who live with children are less satisfied with their lives than those who do not. Is there something wrong with these empirical analyses? Or is it that happiness measures are unreliable? This column argues that the results are correct but that comparisons of the wellbeing of parents and non-parents are of no help at all for people trying to decide whether to have children.  Read more

Will New Risks End Nigeria’s Economic Dream?
Will New Risks End Nigeria’s Economic Dream?
Date: 10 March 2014

Only a year ago, Nigeria’s economic dream – to be one of the world’s top 20 economies by 2020 – still seemed reachable. Today, domestic threats are increasing, while the international environment is far more challenging.  Read more

Russia vs. The US: Superpowers Bluff Over Ukraine?
Russia vs. The US: Superpowers Bluff Over Ukraine?
Date: 6 March 2014

Following Russia's military incursion in Ukraine, the US immediately threatened various sanctions against Moscow, including personal travel bans, an ejection from Russia from the G8, and trade and finance measures. In retaliation, a Putin advisor warned that Russia could abandon the dollar as a reserve currency and/or default on loans to US banks. Neither party however can afford any form of action, nor do they have any real influence over each other’s economies.  Read more

Can Asia’s Emerging Economies Protect Their Water Resources?
Can Asia’s Emerging Economies Protect Their Water Resources?
Date: 5 March 2014

Asia’s economic growth has been one of the success stories of the 21st century. But the economic rise of countries such as China, India, Vietnam and Indonesia has created serious pressure on their environmental resources, particularly their water supplies.  Read more

India’s Urban Work Boom Is Leaving Women Behind
India’s Urban Work Boom Is Leaving Women Behind
Date: 4 March 2014

India has one of the lowest female workforce participation rate in the world. In urban areas, the ratio is even worse. According to Sher Verick, a senior fellow at the International Labour Organisation, the two main factors keeping women at home are social customs and very low education levels.  Read more

China’s Leadership Change: One Year Later, Are Reforms Succeeding?
China’s Leadership Change: One Year Later, Are Reforms Succeeding?
Date: 3 March 2014

March 14 will mark one year since Xi Jinping and Li Keqiang took the reins of China’s leadership and the economy. Xi and his team have officially given themselves until 2020 to achieve "decisive" results with reforms. How has progress been so far?  Read more

North America: Boundless Natural Gas, Endless Opportunities – Interview With EIA
North America: Boundless Natural Gas, Endless Opportunities – Interview With EIA Chief Adam Sieminski
Date: 28 February 2014

The Energy Information Agency (EIA) has predicted that natural gas production in the US will continue to grow at an impressive pace. Right now output is close to 70 billion cubic feet a day and is expected to reach over 100 billion cubic feet per day by 2040. The trend is likely to continue without hitting a geologic “peak”, and along with this trend will come new marketing opportunities for America.  Read more

Is GDP Still The Best Indicator Of Economic Progress?
Is GDP Still The Best Indicator Of Economic Progress?
Date: 27 February 2014

Criticism of Gross Domestic Product (GDP) as an indicator of the health of the economy has grown in recent years, in part because of a new focus on measures of subjective well-being or ‘happiness’. This column argues that the debate needs to distinguish between the different purposes of measurement: economic activity, social welfare, and sustainability are distinct concepts and cannot be captured by a single indicator. There are good arguments for paying less attention to GDP and more to indicators of welfare and sustainability, but it would be a mistake to adjust or replace GDP.  Read more

Why Food, Water & Fuel Are The Best Investments For The Future
Why Food, Water & Fuel Are The Best Investments For The Future
Date: 26 February 2014

Food, energy and water are, today, where gold was in the summer of 2001. No matter what happens to the stock market, food, energy and water are going to be a lot more valuable in the future.  Read more

Ukraine’s Real Problems Have Yet To Be Addressed
Ukraine’s Real Problems Have Yet To Be Addressed
Date: 25 February 2014

There should be no mistake – the Yanukovich government in Ukraine was rotten to the core, and he will not be missed. But revolutions are much easier to make than to recover from. Ukraine’s political and economic woes may be so problematic that another Yanukovich may emerge or the government may have little choice but to turn back to Russia.  Read more

How Microfinance Failed In The Developing World
Has Microfinance Failed The Developing World?
Date: 24 February 2014

Microfinance was supposed to help cure endemic poverty. Yet recent studies have found microfinance to have had zero impact on poverty alleviation. While it still has a big presence in the developing world, and undoubtedly helps some entrepreneurs find their feet, the hopes and aspirations that it once aroused are no more.  Read more

Matteo Renzi: Italy’s New Hope?
Matteo Renzi: Italy’s New Hope?
Date: 19 February 2014

Florence Mayor Matteo Renzi is the latest Italian politician given the chance to form a government. But while many of Renzi's supporters emphasise his youth as a promise for change, Renzi will still have to draw support from the Old Guard and industrialists to remain in power.  Read more

Asian Infrastructure Investment Bank: The Next Step For Asian Development?
Asian Infrastructure Investment Bank: The Next Step For Asian Development?
Date: 18 February 2014

In October, Chinese president Xi Jinping proposed the creation of an Asian Infrastructure Investment Bank that would offer financial support for infrastructure construction in developing countries in the region. In time, its impact on the region could be greater than the Asian Development Bank or the World Bank, but it needs to expand as rapidly as it can to acquire the necessary expertise.  Read more

Why Is China’s Economy Still Showing Signs Of Overheating Despite Slower Growth?
Why Is China’s Economy Still Showing Signs Of Overheating Despite Slower Growth?
Date: 17 February 2014

The People’s Republic of China’s (PRC) economy has shown signs of overheating despite a sharp slowdown in economic growth, suggesting that, constrained by the supply of labor, its potential growth rate might have fallen significantly from its past level.  Read more

Are We Entering A Golden Age Of Gas? – Interview With IEA Head Maria van der Hoe
Are We Entering A Golden Age Of Gas? – Interview With IEA Head Maria van der Hoeven
Date: 13 February 2014

The potential for a golden age of gas comes along with a big “if” regarding environmental and social impact. The International Energy Agency (IEA) – the “global energy authority” – believes that this age of gas can be golden, and that unconventional gas can be produced in an environmentally acceptable way.  Read more

China-EU Investment Pact: Tough Talks, Right Track
China-EU Investment Pact: Tough Talks, Right Track
Date: 12 February 2014

The China-EU investment talks have begun. Due to different levels of economic development, each side has different strategic goals. Nonetheless, the bilateral talks are on the right track.   Read more

Why It Is Almost Impossible To Stop Currency Rigging
Why It Is Almost Impossible To Stop Currency Rigging
Date: 11 February 2014

Authorities in New York have announced they are launching an investigation into the manipulation of the world’s biggest financial market – the US$5.3 trillion a day traded in currencies. But suspending traders or cracking down on technology is likely to do very little. The real root of the problem is the design of the market.  Read more

Why Protests And Civil Unrest Are Growing Around The World
Why Protests And Civil Unrest Are Growing Around The World
Date: 10 February 2014

The future of world politics will be about which societies can develop responsive institutions to govern vast geographical space and which cannot. Will the growing trend of protests and civil unrest around the world – as demonstrated in the Middle East, Thailand and Ukraine recently – soon spread to countries like Russia and China?  Read more

Can Bitcoin Become The New Global Reserve Currency?
Can Bitcoin Become The New Global Reserve Currency?
Date: 7 February 2014

The lack of trust in the custodians of fiat money has provided a fertile context for the rise of Bitcoin, the ultimate digital alternative store of value as against mainstream, central bank managed currencies like the US dollar, sterling and the euro.  Read more

Do The WTO & The Doha Round Still Have A Future?
Do The WTO & The Doha Round Still Have A Future?
Date: 6 February 2014

After several days of grueling negotiations the Ninth WTO Ministerial Conference in Bali, Indonesia, in December 2013, adopted the Bali Package aimed at mainly streamlining global trade. However, this is only the first step toward a Doha deal and much work remains to re-formulate a post-Bali agenda, as well as reform of the WTO to restore its relevance as a key pillar of multilateral trade relations.  Read more

India And The TPP: Wait Or Join?
India And The TPP: Wait Or Join?
Date: 5 February 2014

Can India integrate more fully into the global economy and energize its trade by joining the Trans-Pacific Partnership? Or will negotiating an entry require significant concessions, not necessarily in India’s interests? These outcomes will depend on how TPP framework itself develops – inclusively or exclusively.  Read more

Can The MINTs Outgrow The BRICS?
Can The MINTs Outgrow The BRICS?
Date: 4 February 2014

Over the past decade the BRICS countries (Brazil, Russia, India, China and South Africa) have dominated emerging market investments, but their growth is slowing. Investors have now turned their eyes to another group, the MINTs (Mexico, Indonesia, Nigeria and Turkey). The opportunities presented by the MINTs are clear, but so are the challenges.  Read more

The World Economy In 2014: Is The Recovery Really Strengthening?
The World Economy In 2014: Is The Recovery Really Strengthening?
Date: 28 January 2014

The global economy seems to be on the mend. In this column, IMF Chief Economist Olivier Blanchard provides a quick overview of the likely developments. The key points are that the recovery is happening as expected, but it remains fragile and uneven across major economies. Normalising monetary policy poses risks for vulnerable emerging markets and deflation is a real concern for the Eurozone.  Read more

Why India’s Growth Prospects Are Looking Up
Why India’s Growth Prospects Are Looking Up
Date: 28 January 2014

After a weak 2013, India’s economy has bottomed out, and its much higher long-term growth potential should assert itself after the elections. The international climate is less threatening and conditions are ripe for a cyclical upturn.  Read more

The ‘Asianisation’ Of Global Innovation
The ‘Asianisation’ Of Global Innovation
Date: 27 January 2014

Since the 1950s, the United States and the West have set the standards for prosperity, productivity and innovation. But the share of Asia in global R&D is climbing; and based on recent statistics,the region could soon displace the West as the global R&D driver.  Read more

How Twitter Can Incite Financial Panic
How Twitter Can Incite Financial Panic
Date: 24 January 2014

Social media has become an ever-present element of modern life. Financial markets can be affected too: A fake tweet last year (about an attack at the White House) caused nearly $200 billion to be wiped off the NASDAQ before eventually recovering. How did a simple tweet, which can be made up by anyone, become so powerful?  Read more

The Trans-Pacific Partnership: Why The US Will Be The Biggest Loser If Talks Fai
The Trans-Pacific Partnership: Why The US Will Be The Biggest Loser If Talks Fail
Date: 23 January 2014

The Trans-Pacific Partnership was always an ambitious goal. Negotiations were supposed to have been completed last year, but have dragged on. The US Congress is now attaching new conditions to its willingness to consider granting Obama fast-track authority to negotiate a trade agreement. If talks fail, it would deal a blow to the nation’s policy pivot to Asia.  Read more

Ten Reasons Intermittent Renewables Are A Problem
Ten Reasons Why Intermittent Renewables Are A Problem
Date: 22 January 2014

While many people would like us to believe that wind and solar PV will solve all of our problems, the more a person looks at the question, the clearer it becomes that wind and solar PV added to the electric grid are part of the problem, not part of the solution.  Read more

Asia’s Dominance Of Global Educational Assessments: Implications
Asia’s Dominance Of Global Educational Assessments: Implications
Date: 21 January 2014

The dramatic ascent of the emerging nations in education and skills reflect the broader new deal in global innovation. Only a few years ago, leading policymakers and senior executives in the West believed that China, along with other emerging markets, would remain the “factory of the world” for years to come, and India its “back-office.” It was a convenient fantasy – but that’s all it ever was.  Read more

Averting A US-China Economic Cold War
Averting A US-China Economic Cold War
Date: 20 January 2014

The US and 11 other countries are negotiating the Trans-Pacific Partnership (TPP), without China. And China and 15 other countries are negotiating the Regional Comprehensive Economic Partnership (RCEP), without the US. This unfortunate development was largely a result of misunderstanding and mistrust on both sides. Such economic cold war mentality could be very damaging to both countries and the world.  Read more

The Next Banking Crisis: An IT Meltdown?
The Next Banking Crisis: An IT Meltdown?
Date: 15 January 2014

Many senior banking executives today still view IT as a superfluous cost. As such, a number of banks still use technology that date back decades, with minor upgrades and maintenance over the years. The IT systems that hold up our every financial move are a disaster waiting to happen.  Read more

Forbearance: A Short-Term, But Necessary, Solution For Europe’s Debt Burden?
Forbearance: A Short-Term, But Necessary, Solution For Europe’s Debt Burden?
Date: 14 January 2014

Although Europe’s debt crisis is dissipating, many economies and banks still have substantially high debt burdens that require repayment down the road. Forbearance refers to a special agreement between debtors and creditors to ease the burden debt servicing to increase the probability of repayment.  Read more

Why Fiscal Sustainability Matters
Why Fiscal Sustainability Matters
Date: 13 January 2014

Fiscal sustainability has become a hot topic as a result of the European sovereign debt crisis, but it matters in normal times, too. This column argues that financial sector reforms are essential to ensure fiscal sustainability in the future. Although emerging market reforms undertaken in the aftermath of the financial crises of the 1990s were beneficial, complacency is not warranted. In the US, political gridlock must be overcome to reform entitlements and the tax system. In the Eurozone, creating a sovereign debt restructuring mechanism should be a priority.  Read more

NAFTA’s 20th Anniversary: Is North America Any Closer To Economic Integration?
NAFTA’s 20th Anniversary: Is North America Any Closer To Economic Integration?
Date: 12 January 2014

Twenty years after its formation, the North American Free Trade Agreement remains a highly contentious issue, given the economic impact – both positive and negative – in the U.S., Canada and Mexico. The debate over NAFTA can, however, obscure some fundamental realities about the future of North America and its three major countries.  Read more

Why A China-Japan Conflict Will Cause A Global Economic Catastrophe
Why A China-Japan Conflict Will Cause A Global Economic Catastrophe
Date: 9 January 2014

Although a war is unlikely to break out anytime soon, the escalation of hostilities between the world’s second and third largest economies is concerning. According to Cambridge’s Centre for Risk Studies, under the wrost scenario, conflict would lead to a global recession lasting between 18 months and four years, and tens of trillions of dollars of global output will be lost.  Read more

Renminbi Internationalisation Will Be A Long March
Renminbi Internationalisation Will Be A Long March
Date: 8 January 2014

The internationalisation of the Renminbi has been slower than what some analysts initially predicted. Still, RMB internationalisation will continue to enjoy steady progress but there will be no sensational developments.  Read more

Can The 2020 Tokyo Olympics Solve Japan’s Debt Problem?
Can The 2020 Tokyo Olympics Solve Japan’s Debt Problem?
Date: 7 January 2014

Abenomics’ first and second arrows have put the Japanese economy firmly on the path to recovery. The country is now awaiting the release of the third arrow. The 2020 Tokyo Olympics complement the Abenomics strategy by presenting a golden opportunity to solve Japan’s debt sustainability problem.  Read more

China Reforms: Why Maintaining High Economic Growth Is Impossible
China Reforms: Why Maintaining High Economic Growth Is Impossible
Date: 7 January 2014

If China is serious about implementing the reforms introduced last November, it must accept that economic growth is more than likely to slow down. Claims that the economy can still continue to grow at above 7% not only misunderstand the nature of China’s transformation, but ignore the history of previous similar growth miracles.  Read more

Kurdistan: The Next Dubai?
Kurdistan: The Next Dubai?
Date: 6 January 2014

The pace of infrastructure development in Kurdistan – thanks to oil and gas money – has led some to call the region a “Little Dubai”. Many oil companies, both big and small, have now moved in, drawn by potential reserves.  Read more

2014 Outlook: Annus Not-So-Horribilis
2014 Outlook: Annus Not-So-Horribilis
Date: 3 January 2014

The global economy in 2013 saw a number of crisis-hit countries and regions make progress on their recovery path. Slowly, the world economy is turning a corner, but challenges still remain.  Read more

Why South Africa Is Cancelling Foreign Investment Deals
Why South Africa Is Cancelling Foreign Investment Deals
Date: 2 January 2014

Over the past few months, South Africa’s government has cancelled foreign investment treaties with Germany, Belgium and Luxembourg, Switzerland, Spain and the Netherlands. The reasoning behind this tells us much about modern patterns of trade and development. As the nation looks to move on from the loss of Nelson Mandela, these moves to regain control over foreign investment will prove valuable.  Read more

Onus On US & China To Resolve Asia’s Growing Disputes
Onus On US & China To Resolve Asia’s Growing Disputes
Date: 31 December 2013

The growing maritime disputes in Asia, stemmed particularly by China, has cast doubt over future regional cooperation. Meanwhile though America has vowed to be an anchor of stability and prosperity in the region, it has ironically contributed to greater uncertainty, turbulence, and belligerence – by promising support, yet being non-discrete on how far it would actually go to defend its allies.  Read more

The Ukraine-Russia Deal: No Happy Ending?
Why The Ukraine-Russia Deal Will End In Tears
Date: 30 December 2013

The Ukraine-Russia deal involves politics as much as economics. This column argues that the economics of the deal will eventually lead to problems for one or both.  Read more

Are We Really Heading To A “Leaderless World”?
Are We Really Heading To A “Leaderless World”?
Date: 27 December 2013

The growing convergence between emerging markets and developed countries have led some to speculate of a future “G-zero world” where power is no longer concentrated among just a few countries. However, even in this scenario, policymakers can still demonstrate leadership, as demonstrated by a recent currency swap agreement between six countries.  Read more

Where Should The Trans-Pacific Partnership Negotiations Go Next?
Where Should The Trans-Pacific Partnership Negotiations Go Next?
Date: 26 December 2013

The TPP is not just another free trade agreement. In all, there are nearly 30 chapters of trade topics with many areas that go beyond existing commitments in global or regional settings. Such a complex agreement cannot be managed by overworked officials using the normal committee and review structures built into other FTAs.  Read more

How The EU Can Fix Its Failed Banks
How The EU Can Fix Its Failed Banks
Date: 24 December 2013

The worst of the crisis may appear to be over, but the Eurozone still contains undercapitalised banks with massive losses still on their books. This must be resolved, fast. A new restructuring agency for Europe’s banks is the best solution.  Read more

Hong Kong’s Growing Unease With The Mainland
Hong Kong’s Growing Unease With The Mainland
Date: 18 December 2013

When the Chinese mainland was insulated, Hong Kong thrived; and it continued to thrive for years after reforms and opening-up were launched in the mainland. Now, as the mainland's economic development finally catches up, the latter fears becoming marginalized. The city-state must ponder its next political path, with its economic future at the crossroads.  Read more

Can Shale Break OPEC’s Grip?
Can Shale Break OPEC’s Grip?
Date: 17 December 2013

Since the 1960s, OPEC (Organisation of the Petroleum Exporting Countries) has dominated global oil markets, controlling production, exports and prices. The shale boom however, particularly in North America, could shift some power away from the cartel, to small, nimble companies.  Read more

Medicinal & Aromatic Plants: An Oasis Of Opportunity For Egypt’s Agriculture Sec
Medicinal & Aromatic Plants: An Oasis Of Opportunity For Egypt’s Agriculture Sector
Date: 16 December 2013

Today, Egypt’s agricultural sector constitutes 15 percent of the national GDP and 30 percent of the labour force. An untapped segment is in medicinal and aromatic plants, which are not only suitable for the nation’s landscape and climate, but promises huge benefits for both consumers and producers.  Read more

Why Asia-Pacific Holds The Key To Global Free Trade
Why Asia-Pacific Holds The Key To Global Free Trade
Date: 13 December 2013

Rather than trying to create an all-encompassing global free trade agreement at one go, some economists have argued in the past that overlapping multilateral FTAs could provide a quicker path to a global accord. In that scenario, the Asia-Pacific region may hold the future of global free trade in its hands.  Read more

The Philippines: Rising From The Ruins Of Haiyan
The Philippines: Rising From The Ruins Of Haiyan
Date: 12 December 2013

Typhoon Haiyan was one of the costliest natural disasters to happen in the Philippines’ history. Nevertheless, with some help from the international community, alongside solid government planning and strong local solidarity, the Philippines will be more than ready to make a recovery from its economic losses.  Read more

Australia’s Crossroads: Between East And West
Australia’s Crossroads: Between East And West
Date: 11 December 2013

Australia may be a nation whose identity lies firmly in the west, but its geo-political and geo-economic circumstances are shaped in large part by its location in the east. With the economy slowing, can Australia continue to hedge between U.S. strategic opportunities and Chinese economic gains?  Read more

Did The WTO Deal Really Deliver?
Did The WTO Deal Really Deliver?
Date: 10 December 2013

 Amid concern that last week's trade talks would end in failure and render the World Trade Organisation obsolete, member countries finally reached a global trade reform deal Saturday – the first in the WTO’s 18-year history. But while there was a lot of back patting, what the group actually accomplished is up for debate.  Read more

Why South Africa Is Struggling To Match Sub-Saharan Africa's Growth
Why South Africa Is Struggling To Match Sub-Saharan Africa's Growth
Date: 9 December 2013

While Sub-Saharan Africa is expected to see economic growth of 5 percent in 2013, and 6 percent in 2014, South Africa's growth expectations are far less robust at 2 percent and 2.95 percent respectively. Why is the continent’s largest economy lagging behind its neighbours?  Read more

Monetary Policy Will Never Be The Same: Olivier Blanchard
Monetary Policy Will Never Be The Same: Olivier Blanchard
Date: 6 December 2013

The global crisis changed the face of monetary policy. Central banks deployed new tools to counter the effects of the crisis, which have reduced the risk of deflation, stabilised the financial system and calmed financial markets; but potential negative side effects remain.  Read more

China-UK: An Indispensable Partnership?
China-UK: An Indispensable Partnership?
Date: 4 December 2013

Today, the UK is seen as the most open Western economy to Chinese investment. Britain on the one hand needs Chinese trade and investment to reinvigorate its economy, while the Chinese sees London as crucial to its efforts to internationalise the yuan and open a financial gateway to Europe.  Read more

Warsaw Climate Deal: How Asia Can Take The Lead To End Global Warming
Warsaw Climate Deal: How Asia Can Take The Lead To End Global Warming
Date: 4 December 2013

The Warsaw Climate Deal last month was seen as a disappointment to some, falling short of any detailed commitments or additional funding that developing countries were seeking. Still, much is already happening in Asia on climate change mitigation. Asia has the highest rate of voluntary commitments to cut carbon emissions; and many Asian countries are incorporating low-carbon growth components in their national development plans to attain a better balance between the environment, the economy, and social welfare.  Read more

China Reforms: What A ‘Decisive Role’ For The Market Really Means
China Reforms: What A ‘Decisive Role’ For The Market Really Means
Date: 3 December 2013

At the end of the Third Plenum last month, China’s leaders promised to "give the market a decisive role in resource allocation and give better play to the role of government". The wording of this statement is significant; in Chinese official documents, words matter a great deal and even some of the seemingly minor initiatives in new wording can lead to revolutionary changes.  Read more

When Are Markets Rational?
When Are Markets Rational?
Date: 2 December 2013

The Nobel Committee created quite a stir last month when it awarded its annual prize for economics to three individuals. One of the recipients, Eugene Fama, had received the award for saying that markets are efficient at capital allocation; while another, Robert Schiller, received the award for saying they are not. So which is it, or is the truth really somewhere in between?  Read more

Iran’s Nuclear Weapons Deal Will Rebalance The Middle East
Iran’s Nuclear Weapons Deal Will Rebalance The Middle East
Date: 27 November 2013

The nuclear weapons deal between Tehran and Western powers have implications not just for Iran, but the entire region as a whole. The key challenge now is for those involved in the Iran nuclear deal to turn it into something that is both sustainable in the long term and not perceived as threatening to the likes of Israel and Saudi Arabia.  Read more

Five Years On, The World Is Still No Safer Than Before The Crisis
Five Years On, The World Is Still No Safer Than Before The Crisis
Date: 22 November 2013

The 2008-2009 financial crisis, which quickly evolved into a global economic crisis, saw many of the world’s major economic powers pledge in the aftermath to embark on a series of global reforms. Still five years later, many of these proposed reforms have not been implemented and the world is not much safer now than it was before the global economic crisis.  Read more

The 10 Priciest Streets On The Planet
The 10 Priciest Streets On The Planet
Date: 21 November 2013

So you think you live in a shi-shi neighborhood? Read this list, and you may need to think again. As part of its recent Billionaire Census, Singapore-based wealth intelligence firm Wealth-X looked at the average property prices of the world’s billionaires, to find the most exclusive – and expensive – streets on the planet.  Read more

Will Turkey Ever Join The EU?
Will Turkey Ever Join The EU?
Date: 20 November 2013

The EU – whose most powerful members manifestly do not want to extend EU membership to Turkey – is once again going through the ritual of reconsidering the country's application for membership. There are huge pluses and glaring minuses involved in any future Turkish membership; this dance still has a long way to run, it seems.  Read more

China’s Grand New Strategy Is Very Much In The US Interest: Dan Steinbock
China’s Grand New Strategy Is Very Much In The US Interest: Dan Steinbock
Date: 19 November 2013

For the first time since the 1980s, Beijing is redefining China’s grand strategy. How Washington responds to these reforms has far-reaching implications in Asia, as well as across the globe.  Read more

Why Is Saudi Arabia Supporting Egypt’s Military?
Why Is Saudi Arabia Supporting Egypt’s Military?
Date: 15 November 2013

Saudi Arabia and Egypt are not the most natural friends. What more, the Saudi government is usually resistant to any form of change or revolution – whether it be internally or across the Arab region. Therefore it came as a surprise when they supported the Egyptian coup in June and went on to provide financial aid. The truth is that Saudi Arabia needs Egypt now as much as Egypt needs Saudi Arabia.  Read more

Can Islamic Banking Turn Malaysia Into A Global Financial Superpower?
Can Islamic Banking Turn Malaysia Into A Global Financial Superpower?
Date: 14 November 2013

Malaysia’s government has recently announced plans to turn its capital Kuala Lumpur into a major financial centre – rivalling the likes of London, New York, Singapore and Hong Kong. If Malaysia is to join the top flight of international financial centres, it must leverage its status as an established Islamic finance hub. And it must address the challenges associated with the supply of high quality human capital.  Read more

Why The US & Iran Need Each Other
Why The US & Iran Need Each Other
Date: 13 November 2013

The ongoing talks between U.S. and Iran politicians over the Islamic state’s nuclear program – and the resulting sanctions – signal a major shift in their bilateral relations. But there is more at stake for the two countries, rather than just these issues. Iran will need the U.S.’s help to repair its economy, while America sees Iran as an opportunity to manage its interests in the Middle East.  Read more

Eastern Europe’s Shattered Shale Dreams
Eastern Europe’s Shattered Shale Dreams
Date: 12 November 2013

Shale projects in Eastern Europe are being challenged by delaying tactics of industry majors. Media coverage of shale gas development is positive; but in Lithuania and Poland, global oil & gas companies are one by one dropping bids to explore for unconventional. Lack of business awareness and overdependence on preliminary estimates of shale reserves may also lead to the same result in Ukraine.  Read more

India: Will Populism Trump Reforms Yet Again?
India: Will Populism Trump Reforms Yet Again?
Date: 11 November 2013

India will need a whole host of domestic and international reforms to re-boost the economy. However in a democracy that is going into an election year, only politically friendly reforms are likely to be undertaken. Can politicians persuade their constituents to accept reform?  Read more

Slovenia’s Downfall And Why It Matters For Europe
Slovenia’s Downfall And Why It Matters For Europe
Date: 8 November 2013

The eurozone crisis appears to have a new victim: Slovenia. To avoid the need for a bailout, the IMF has called on the country to immediately recapitalise its banks. This should worry the rest of Europe as, unlike some of the other countries that have received bailouts, Slovenia was no economic basket-case. Until very recently it was considered a success story, the most prosperous and stable of the continent’s post-socialist nations. So how has it come to this?  Read more

Xi Jinping: China’s Most Important Leader Since Deng Xiaoping?
Xi Jinping: China’s Most Important Leader Since Deng Xiaoping?
Date: 7 November 2013

As Chinese President Xi Jinping prepares for Third Plenary Session of the 11th CPC Central Committee this weekend, he will know that his country has now reached the end of an economic super-cycle first set in motion by Deng Xiaoping some 35 years ago. The challenges Xi face today may be completely different to those once faced by Deng; yet both could turn out to be equally vital for China’s future.  Read more

Is The US Responsible For China’s Military Build-Up?
Is The US Responsible For China’s Military Build-Up?
Date: 6 November 2013

The scale of China’s military build-up has raised flags among Western alarmists. Yet the focus of the military spending appears to be oriented more towards defending China's periphery, rather than any expansionist plans. In fact, one common argument is that China’s growing military power is only meant to counter the force of the U.S., which has been increasing its presence in the region.  Read more

The 3 Biggest Risks Spooking Global Capital Markets
The 3 Biggest Risks Spooking Global Investors
Date: 5 November 2013

Global investment activity fell by nearly a third in the second quarter of 2013, after two consecutive quarters of increases, according to new OECD data. And unlike earlier stages of the global economic crisis, when emerging economies played a counter cyclical role in international investment flows, the declines in Q2 have been across the board. Three key factors are likely to have the most effect on global investor confidence in the short-term.  Read more

Iranian Sanctions: US Loss, China Gain?
Iranian Sanctions: US Loss, China Gain?
Date: 4 November 2013

Washington sanctions on Iran have undermined the very goals that it would like to achieve. Rather than engaging Tehran, the sanctions are reinforcing the hardliners; isolating a moderate sections of Iran’s community, including the business community and the middle class; dividing old U.S. allies and strengthening China’s clout in the Middle East.  Read more

Can Islamic Finance Fix The Current Financial System?
Can Islamic Finance Fix The Current Financial System?
Date: 31 October 2013

The Islamic finance sector is now worth close to $1.8 trillion. Not surprisingly, it is garnering the world’s attention. And despite the challenge Islamic banks will face once it begins challenging the much larger conventional players, their emphasis on financial stability can only help improve market conditions.  Read more

Why India Must Engage Pakistan’s Middle Class – Now
Why India Must Engage Pakistan’s Middle Class – Now
Date: 30 October 2013

In the long run, India’s economy cannot grow in an unstable neighbourhood; as such building friendly relations with Pakistan is essential. Yet for too long, India’s approach to Pakistan have been fundamentally wrong; rather than engaging only with the liberal elite or the hard-line conservatives, India should build ties with Pakistan’s oft-forgotten middle class – who yearn only for economic progress.  Read more

Kenya’s Oil: The New Success Story In Africa?
Kenya’s Oil: The New Success Story In Africa?
Date: 29 October 2013

Barely one year has passed since oil was first struck in Kenya. But with over $100 million in deals pouring into the country from major oil companies, Kenya could be pumping its first commercial oil as early as next year – an astonishing achievement helped by a hundred percent success rate for drilling in various parts of the country so far.  Read more

BRICS: The World’s New Benefactors?
BRICS: The World’s New Benefactors?
Date: 28 October 2013

The BRICS are emerging as one of the world’s largest providers of foreign aid. Yet, the BRICS countries do not regard themselves as “donors” – choosing to work with “development partners”, rather than “aid recipients”. This has both positive and negatives implications for the “development partners.”  Read more

Can Neuroscience Help Us Understand Financial Bubbles?
Can Neuroscience Help Us Understand Financial Bubbles?
Date: 25 October 2013

Five years on from Lehman Brothers' collapse and “where did it all go wrong?” analysis is all the rage. Answers have varied: poor regulation, malicious bankers, dozy politicians, greedy homeowners, and so on. But what if the answer was in our minds? New research published in the journal Neuron suggests that market bubbles are in fact driven by a biological impulse to try to predict how others behave.  Read more

China’s Hidden Debt Problem: An Unavoidable Crisis In The Making?
China’s Hidden Debt Problem: An Unavoidable Crisis In The Making?
Date: 24 October 2013

Estimates for China’s local government debts are now close to $3.3 trillion. Some analysts though believe that the government need not be duly concerned about rising bad debts in its banking sector, as their central bank’s extensive foreign reserves is easily enough to recapitalize the banks. What these analysts fail to understand is that these reserves were not accumulated merely by savings, but also involved more borrowing by the People’s Bank of China.  Read more

Eurozone Crisis: How The IMF Managed To Discredit Itself
Eurozone Crisis: How The IMF Managed To Discredit Itself
Date: 23 October 2013

The IMF loans to Greece, Ireland and Portugal are considered controversial by some analysts. This column argues that these loans – granted without having agreed on convincing paths to manageable debt levels – constituted a substantial departure from IMF principles. The situation is costly for Europe and, having now permanently changed the principles guiding large IMF loans, it will be costly for crises to come. A serious rethink of the management and decision-making structure of the IMF is needed.  Read more

Fiscal Governance: Can Africa Avoid The Mistakes Of The West?
Fiscal Governance: Can Africa Avoid The Mistakes Of The West?
Date: 22 October 2013

 The ongoing debt and financial crises have exposed the dangers of the dysfunctional fiscal governance present in the U.S. and Europe. As African countries prepare to enter sovereign debt markets, they should heed the west’s “warning” – to handle fiscal issues with transparency and accountability or risk heading down the same route.  Read more

The Emerging US-EU-Asia Trade Triangle: Balancing Opportunities & Threats?
The Emerging US-EU-Asia Trade Triangle: Balancing Opportunities & Threats?
Date: 21 October 2013

After two decades of on-and-off talks, Washington and Brussels hope to conclude their trade and investment partnership. However, it is not a marriage, but a triangle drama. Emerging Asia is the third party.  Read more

China’s Quest To Integrate With Southeast Asia: A Win-Win Relationship?
China’s Quest To Integrate With Southeast Asia: A Win-Win Relationship?
Date: 17 October 2013

China has been rapidly expanding its efforts to connect politically and economically with Southeast Asia – particularly in the Greater Mekong Subregion (GMS). While China is benefiting more their relationship with the GMS at the moment, the GMS will be able to achieve greater sustainable development as long as they are more strategic and selective in dealing with their big neighbour in the north.  Read more

How Vietnam’s Burgeoning Civil Society Is Changing The Nation’s Political Landsc
How Vietnam’s Burgeoning Civil Society Is Changing The Nation’s Political Landscape
Date: 16 October 2013

Since 1976, Vietnam has been controlled by the Communist Party. Till recently, its rule and legitimacy had never been challenged. Recent civil movements however suggest that Vietnamese are gradually rising up against the party, hoping to transform the nation from a one-party state into a democracy.  Read more

Two Visions: US and Chinese Rebalancing in Asia
Two Visions: US and Chinese Rebalancing in Asia
Date: 13 October 2013

As the momentum of economic growth is shifting from the transatlantic axis to Asia, both the United States and China are rebalancing their foreign policies in the region. However, as the recent APEC and ASEAN summits indicate, the way these two great nations are pivoting in Asia is very, very different.  Read more

Kurdistan’s Oil Potential: Why Investors Remain Positive Despite High Political
Kurdistan’s Oil Potential: Why Investors Are Positive Despite High Political Risks
Date: 10 October 2013

Kurdistan is one of the hottest emerging oil prospects today despite continued threats from the central government in Baghdad to clamp down on Kurdish aspirations for oil and gas independence. According to former BP chief and current CEO of Genel Energy, Tony Hayward, exploring for oil and gas in such new frontiers has always been about striking the right balance between geological potential and political risk.  Read more

The 3 Keys To Unlocking China’s Economic Prospects
The 3 Keys To Unlocking China’s Economic Prospects
Date: 10 October 2013

How long can China sustain its economic growth? To figure this out, we first have to look at three important developments: How quickly will China be able to liberalise its capital markets; Whether China can move its economy away from investment led growth; and finally the effectiveness of Chinese reforms, starting with the Third Plenary Session of the Communist Party next month.  Read more

Why China & Japan Need American Shale
Why China & Japan Need American Shale
Date: 9 October 2013

Thanks to the advent of hydraulic fracturing, or fracking, the U.S. is expected to be the world’s largest producer of oil and natural gas next year, eclipsing production in Russia and Saudi Arabia. Meanwhile, U.S. energy exports to Asia have grown by a third this year, with greater demand coming not just from Japan – a traditional buyer of U.S. fuel – but from China as well.  Read more

Obama: Already A Lame-Duck President?
Obama: Already A Lame-Duck President?
Date: 8 October 2013

U.S. President Barack Obama first shot to global prominence in 2004 as a uniter, not a divider. But while most of the blame for Washington’s gross dysfunction will probably lie at the feet of the Republican right, that hates Obama with a rare passion, the Obama presidency may well soon be over – at least in terms of his ability to move the policy dial at home and abroad.  Read more

The Erosion Of Foreign Investment In Europe
The Erosion Of Foreign Investment In Europe
Date: 7 October 2013

As advanced economies struggle with their debt crises, the typical drivers of growth – consumption, government, net exports – are ailing in many countries, particularly in Europe. As a result, many nations hope to rejuvenate their economies through investment. Last year, however, FDI in Europe plunged. Europe alone accounted for two thirds of the global FDI decline.  Read more

The Root Of Unethical Corporate Culture
The Cause Of Unethical Corporate Culture: Bad CEOs?
Date: 4 October 2013

Curbing corporate misbehaviour is a key policy goal but fixing the problem requires an understanding of what causes it. This column develops an innovative empirical approach that identifies unethical CEOs as an important cause of unethical corporation behaviour.  Read more

How Egypt Can Still Realise Its Democratic Dream
How Egypt Can Still Realise Its Democratic Dream
Date: 2 October 2013

High among the causes of Egypt’s two popular revolutions of January 2011 and June 2013 was a demand for an honest, efficient and democratic government. However, with only an experience of partial democracy from 1923-52, and during ex-President Morsi’s bad and unpopular regime of 2012-13, true democracy will not come easily to Egypt.  Read more