More in Global Economy


12 days

The US Ten-Year Shows The Extent Of The Bond Bubble

“Only when the tide goes out do you discover who’s been swimming naked.” – Warren Buffett

12 days

The Truce is over in Argentina: The Peso cannot Survive a Destructive Monetary Policy

The government of Mauricio Macri lived a week of apparent tranquillity, but the resignation of Luis Caputo as President of the Central Bank and a new IMF deal triggered the end of calm.

14 days

Biggest US Export to China? Spending by Chinese Tourists

International tourism is counted in the official economic statistics as an export industry. We don't always think about it that way. But when, say, Chinese tourists in the US purchase goods and services, then Chinese consumers are buying goods and services produced in the United States--which is what "exports" means.

19 days

When Information Flows Became Fast: The Trans-Atlantic Telegraph

When the first trans-Atlantic telegraph message was sent in 1858, the tough question was how to follow up on the famous terse line that Samuel Morse had sent in 1844 over the telegraph between Baltimore and Washington: "What hath God wrought?"

20 days

The Outsized US Suspicions about Trade: International Comparisons

The US economy, because of its enormous internal domestic market, is actually much less exposed to the effects of international trade than smaller economies around the world. For the world economy as a whole, the ratio of imports/GDP is about 28%, using World Bank data. For the US economy, the ratio of imports/GDP is 15%, about the same as Japan. For China, the import/GDP ratio is 18%; for Korea, it's 38%; for Germany, with all of its within-the-European-Union trade, the import/GDP ratio is 40%.

21 days

Corporations and Social Values

There is a long-standing debate over the goals of corporations. Should they focus mostly or exclusively on earning profits? Should they be willing to take on broader social missions? Should they be required to do so? What follows are some notes and snippets on this controversy, from various angles.

24 days

UK Financial Services: Opportunities and Threats Post Brexit

A Brexit deal is still no closer, but trade will not cease even if the March deadline passes. In the short-term, UK and EU economic growth will suffer. Medium-term new arrangements will hold back capital investment. Long-term, there are a host of opportunities, in time they will eclipse the threats.