The 2016 Globie: “Global Inequality”

The 2016 Globie: “Global Inequality”

photo: Source Each year I name a book as the “Globalization Book of the Year” (also known as the “Globie”). The selection is a recognition of its author’s contribution to our understanding of the causes and effects of globalization. There is no money attached to the prize—recognition is the sole reward. Recent winners can be […]

Has the Embargo Damaged Farmers in Europe?

Has the Embargo Damaged Farmers in Europe?

photo: Wayne Stadler EU food products exporters have not been affected as much from the counter-sanctions as Russian consumers. In November, at an ‘Action Forum’ of the All-Russia People’s Front, Vladimir Putin promised not to reverse the food embargo for as long as possible. Russia had been forced to restrict the import of farm produce in […]

Why Are Foreign Nations Dumping US Treasuries

Why Are Foreign Nations Dumping US Treasuries

photo: Kurtis Garbutt Recently, foreign holders of US treasuries have been dumping their holdings more and at record pace. Optimists see it as a temporary fluctuation. Realists warn about structural change. According to US Treasury data, major foreign holders of US treasury securities have been reducing their holdings by almost $250 billion since March. The pace […]

Seeing Past US Hegemony: A Liberal Global Trading System Without the United States

Seeing Past US Hegemony: A Liberal Global Trading System Without the United States

photo: Bridget Coila Can the global liberal international trading system survive without the participation of the United States? Given the probability of Donald Trump taking office as US President on 20 January 2017 (crisis of legitimacy and Russian interference in US elections notwithstanding), the question must be asked and answered. The world’s nations, transnational firms, and […]

The Development Mutants Are Coming … and We Care

The Development Mutants Are Coming … and We Care

Mutants are organisms that mutate due to a change in their composition or structure. In the development industry, we are starting to recognize mutants that slowly, but inexorably, are beginning to compete in the space historically reserved for international financial institutions. How can we understand these changes? And how can we use these mutants to […]

Deplorables Didn’t Elect Trump, Jams Did

Deplorables Didn’t Elect Trump, Jams Did

photo: Gage Skidmore Hillary Clinton famously characterized Donald Trump’s voters as a “basket of deplorables,” but she was wrong. Our friends, the British, have figured it out: Trump was elected not by deplorables, but by jams. “Jams,” short for “Just About Managing,” is the new term has swept British political discourse. They are defined as a […]

Europe at the War of Decimals

Europe at the War of Decimals

photo: Jeff Golden Anxious about the threats to Europe from Syria, Turkey, the refugee crisis, terrorism, Brexit? Be patient. Europe is now at the autumn war of decimals. The governments of the member countries of the Euro Zone are submitting to the Commission the three-year budgetary plans in compliance with the fiscal regulations of the Treaties. […]

The Rise of Anti-Establishment Italy

The Rise of Anti-Establishment Italy

photo: Ewan Topping After the UK Brexit and the Trump triumph in the US, the rise of anti-establishment Italy is hardly a surprise. It is the effect of half a decade of failed austerity doctrines in Europe and decades of failed political consolidation in Italy – ever since the notorious Tangentopoli scandals. While Italy’s constitutional referendum […]