Category: State of the Economy

Everyone Claims They’re Worried About Global Finance. But Only One Side Has a Plan.

Senator Josh Hawley, Republican of Missouri, said at the recent National Conservatism Conference, what he called the “the cosmopolitan economy” has encouraged multinational corporations to move jobs and profits overseas and then “rewarded these same corporations” for “investing their profits not in American workers, not in American development, but in financial instruments that benefit the cosmopolitan elite.” New York Times

Geopolitics Are Shaping Your Next Smartphone

President Trump’s latest swipe at Huawei could be the start of a deep transformation of the tech sector.Citing national security concerns, the Commerce Department said this month that American companies would need special permission to sell some products to Huawei and other Chinese companies. New York Times

Latest Arena for China’s Growing Global Ambitions: The Arctic

The Arctic is thawing, and China is seizing the chance to expand its influence in the north. For China, the retreating ice potentially offers two big prizes: new sources of energy and a faster shipping route across the top of the world. New York Times

NYT DealBook Briefing: A U.S.-Europe Trade War Looms

President Trump’s attention on trade has largely been focused on China in recent weeks. But there’s a growing sense that he could soon turn his fight to Europe. The European trade commissioner, Cecilia Malmstrom, reportedly warned E.U. trade ministers that they “should brace” for U.S. tariffs on billions of euros worth of European goods over a dispute about Airbus subsidies. New York Times

The Bond Market Is Trying to Tell Us Something (Worry)

The bond market is sending powerful signals that there’s economic trouble ahead for the United States economy. They’re powerful enough, in fact, that they’re even rattling the parts of Wall Street that people do talk about. New York Times

Economists are rethinking fiscal policy

Olivier Blanchard, a former chief economist of the IMF, told the annual meeting of the American Economic Association that there were many reasons to doubt the supposed costs of public debt. Since then Jason Furman and Larry Summers of Harvard University, both of whom advised Barack Obama on economics, have written in Foreign Affairs, a journal, that it is time to kill off the “debt obsession”. The Economist

The story of China’s economy as told through the world’s biggest building

The Global Centre—the tale of its construction, its occupants and its evolution is neither a spectacular success nor a catastrophic failure but a long economic struggle, a contest between China’s tremendous potential and the cracks in its foundations. America is only a secondary player in the drama. China, for better and for worse, is writing its own story. The Economist