The Peterson Institute in Washington has published a report on the international trade policies enunciated by the two US presidential candidates during their campaigns. Its conclusion:
Clinton's proposed trade and international economic policies would damage American well-being, primarily but not
China's Belt and Road initiative – a vast array of promised Chinese investments in transport, energy and communications across Eurasia and Africa – is emerging as one of the key foreign policy priorities of Xi Jinping's presidency.
President Xi Jinping and then President of Sri Lanka Mahinda
Just about everyone agrees that the Greek problem has been kicked down the road again, and probably not even very far.
The fantasy nature of the 'agreekment' is clear. Let's put to one side, for instance, a structural reform program which demands that Sunday be mandated as a work-day. This might
This month saw a super summit of two organisations that are significant for both Russia and China. The 7th BRICS summit and 15th Shanghai Cooperation Organisation (SCO) summit, both held in Ufa, Russia, included the typical member-state declarations confirming cooperation on major issues such as
In a little-noticed interview, the chief of Panama's Canal Authority concedes that 'the world and the canal were unlikely to ever again see the booming container trade that characterised the 1990s and early 2000s' due to shifting manufacturing patterns and American thrift.
Obviously, he has
While Beijing's Asian Infrastructure Investment Bank (AIIB) has won overwhelming support (to the surprise of many, including China itself), another bank headquartered in China seems to be flying under the world's radar.
Few people have heard of the BRICS New Development Bank (NDB). This was the
Thomas Piketty's Capital in the Twenty-first Century put inequality centre-stage in the economic debate. But the topic has been around for a long while. Brookings has recently republished Arthur Okun's 40 year-old Equality and Efficiency: The Big Trade-off, The launch was an opportunity to bring
The China-Russia relationship is the world's most important, and the best between any two great powers, Xi Jinping told Vladimir Putin a couple of years ago. Last week, at the Kremlin's V-Day celebration, their ties were reaffirmed in grand style.
Some observers dismiss the partnership as an '
There's an 'Uber for X', goes the little ditty, celebrating the ubiquitous infiltration of the online 'sharing economy.' It seems Uber's business model can be turned to virtually all our needs, and a global ecosystem of app buttons has popped up on our smartphones.
As in so many things, however,
The China-Pakistan Economic Corridor (CPEC) is nothing short of a 'fate changer', said Pakistani Federal Minister Ahsan Iqbal, the man behind the historic project. The excitement appears to be mutual, as China has shown equal enthusiasm for the project throughout a two-day visit by Chinese President
We live in strange economic times. Depositors in Denmark are paying interest to their banks and borrowers are being paid when they take out a loan. The basic principles of finance have been turned on their head.
One commentator has noted that 'something economists thought was impossible is
To everyone's surprise, it was announced on Monday that Australian Foreign Minister Julie Bishop intends to travel to Tehran in April 2015. The visit isn't about the nuclear negotiations with Iran. After all, while Australia would rather not see Iran go nuclear, it isn't exactly a foreign policy
The European Central Bank has finally begun to engage in quantitative easing. The euro depreciated on the news, which is good for the Europeans but bad for the rest of the world, right? It's another currency war – a zero sum game leading to, at best, nothing but debased currencies . At least that'
When the IMF produced its last World Economic Outlook in October, one of the risks it forecast was a possible oil price increase. A US$25 per barrel increase, the IMF said, would take at least 0.5% off global economic growth.
Now, even with the change in oil price twice as large and in the opposite
What does the fall in the price of oil do for global economic growth?
If the price of oil had swiftly risen by 50%, economic commentators would be calling this an economic disaster. In fact the price has fallen by 50% since June last year, yet this ray of good news hasn't pierced through the
The IMF, OECD and the Russians themselves have substantially downgraded their Russian economic growth forecasts for 2015. The fall in the oil price is partly responsible. However, heightened 'geopolitical risk' was also mentioned as a drag on activity, along with the effect of sanctions. But just
'You can always count on China to be good to its neighbours this time of year', observes Carl Thayer. 'The money is meant to send a message that China is the big sugar daddy of Southeast Asia and will outbid the US.'
The APEC Summit in Beijing witnessed the hosts committing US$40 billion for the
1. Why is FDI so sensitive?
Here is an impolite truth about international commerce: governments, even 'liberal capitalist' ones, are obsessed with sovereignty. Foreign direct investment (FDI) represents a breach of sovereignty. This year's Lowy Institute Poll shows that most Australians view FDI
G20 finance ministers and central-bank governors will gather in Sydney this weekend. The forecast is for possible showers. But will it rain on Australian Treasurer Joe Hockey’s parade?
As the Treasurer has said, 'It’s a big event.' Notwithstanding the fact that the finance ministers from