India: Taxing Time for Foreign Investors

Ignorance, they say, is bliss. But not for a country when the government ignores the ground realities while devising plans and policies. The recent union budget of India is a veritable test case of the above. Previously I have talked about how the budget over-estimated the revenue numbers and under estimated the expenditure numbers by […]

Philippines: Reconciling Short-Circuiting Electronic Exports

The situation for Philippine exports is particularly dire, with the value of exports falling by 20.7% y/y in December 2011 after reaching a two-year low in September amid persistent weakness in external demand for the country’s electronic goods (Figure 1). Export growth contracted for its eight consecutive month, while electronic exports contracted for its eleven […]

Canada’s Trade Ties: Harper Heads to China

Canadian Prime Minister Stephen Harper heads to China today on a much-anticipated trip, his first since 2009, when his trip was far overshadowed by President Obama’s first trip. He has the privilege of being one of the first global leaders to visit China after the holiday period, though we expect Chinese leaders will again be […]

The Quiet Revolution

In the four decades since 1970, the world has undergone a “quiet revolution” characterized by profound economic and financial transformations in advanced and emerging economies.  This revolution may not have been as visibly disruptive as the first industrial and political revolution of 1789-1848, but its economic, social and political ramifications may be just as important. […]

A Taste for RMB in Africa…

While the focus at today’s South African reserve bank (SARB) meeting was on the central bank’s dovish tilt, Governor Marcus was also questioned on whether South Africa’s newfound BRICS cooperation extended to currency coordination with China – in other words, would or has South Africa joined the throng of countries considering to add RMB to […]

The News from Marseilles: Pledges for the Arab Spring

Although global markets were looking for signs about how G7 leaders would respond to the ructions in the Eurozone, reading the reports over the weekend most of the deliverables seemed to relate to support for MENA. Perhaps because supporting MENA countries in transition and avoiding further destabilization that could add to commodity price spikes was […]

China, the West, and the Rebalancing of Global Growth

Social unrest in Athens, strikes in London and worries over the United States’ debt ceiling may well turn out to be harbingers of a second wave in the global crisis rather than secondary effects of its first chapter. By all accounts, the global crisis is not over.  Beyond the unrest on display in Europe, the […]

GIC! CIC! SWF Reports Oh My!

It’s a big day for SWF watchers. Not only one but two of Asia’s largest SWFs released annual reports today –Singapore’s GIC and the Chinese Investment Corporation (CIC).  Both reports give some detailed info on the asset allocation (currency and asset class) and returns (though GIC reports returns only on a 5 and 10 year […]

A Relative Decline: Challenging But Not Terminal

A reply to FP’s Clyde Prestowitz Blogpost 1 and Blogpost 2 Points 1-3, While I agree that US infrastructure is sub-par given its riches, comments about “manufacturing workforce dying off” and hand-wringing that services and healthcare being dead-ends are dead-wrong. Prestowitz is right that we should have a big fiscal push and an industrial policy […]

Will Emerging Asia Continue to Fuel New Zealand’s Recovery?

Record high commodity prices are supporting the economy as it recovers from a swath of deadly earthquakes to strike New Zealand in 80 years. Even while New Zealand’s currency has appreciated around 18% against the USD this year, emerging market (EM) demand for commodities (logs, dairy, and meat) continues to soar, which is benefiting New […]

1 2 3 11