Markets

1. The BRICS central banks sign an accord on $100 bln foreign currency pool.  2. South African union AMCU declared a dispute with gold producers over wages.  3. China’s recent actions to stabilize equity markets became increasingly desperate.  4. Argentina...

There is a growing sense of optimism that Greece and its creditors will strike a deal.  There is also a sense that although nearly half of China's stocks are still frozen, that the dramatic sell-off is over.  There is a...

Good times for Australia kept rolling whilst prices and demand for our resources were high. However, boom-time is on the wane, manufacturing is squeezed, and it is time for a serious where-to-from-here conversation about the nation’s economy. Good times for...

The Chinese stock markets have experienced significant turmoil in recent weeks, with the Shanghai Composite Index – the country’s major reference – falling by 32% since June 12. However, this fall was preceded by an equally sharp rise of 150%...

Indian Prime Minister Narendra Modi is in trouble. He and the Bharatiya Janata Party (BJP) romped to power in 2014 on an anti-graft and pro-governance platform. Today, thanks to what is being popularly dubbed as ‘Lalitgate’, both Modi and his...

Russia kicked off three days of high-level summitry on July 8, hosting leaders of several Asian and developing countries that it hopes will form the foundation of a new, non-Western world order. Russia kicked off three days of high-level summitry...

Around the world, Japanese Prime Minister Shinzo Abe is perhaps most famous for his ‘Abenomics’ program to revive Japan’s economy. So far, it has not worked — mainly because it has not really been tried. Only the first of the...

Investors remain off balance.  The Greek financial crisis and the future of the irrevocable monetary union will take a few more days to play out.  The Chinese stock market's dramatic fall after an incredible bull move continues, and nearly half...

Commodities are back under pressure, sending ripples through various assets classes. Let us start with a recap of recent moves and drivers.  In short, it looks like the risks are still bearish for energy and industrial metals, but not so...

Extensive commentary on the latest Indian GDP growth numbers has been unable to clear prevailing confusion on whether the economy is in its recovery phase or not. It would be more useful to focus on the data that the ordinary...

China’s One Belt, One Road initiative is currently the most important program for deep economic integration. The program envisages the revitalisation of old trading routes with a continental Silk Road Economic Belt and 21st century Maritime Silk Road. Despite its...

The expansion of trade among sub-Saharan African nations holds the key to faster growth and development to the benefit of all its citizens. To unlock this potential, countries will have to focus more on trade facilitation, including the simplification and...

Between the “no” in the Greek referendum and a sharp drop in oil and commodity prices, EM is starting the week on a bad note.  Therefore, we think this is a week to be defensive.  There has been limited contagion...

India’s domestic and international economic choices have not always been the wisest. At independence, India was determined to transcend the distorted pattern of economic integration with the world that two centuries of exploitative colonialism had engendered. However, in the process,...

China’s old model of growth produced the strongest, most resource-intensive economic growth the world has ever seen. However, the period in which China’s growth dominated world demand for energy and metals and lifted global commodities prices to unprecedented levels has...