If China Sneezes, Africa Can Now Catch a Cold

By Paulo Drummond and Estelle Xue Liu Growing links with China have supported economic growth in sub-Saharan Africa. But the burgeoning commercial and financial ties between the developing subcontinent and the world’s second-biggest economy carry risks as well. These links also expose sub-Saharan African countries to potentially negative spillovers from China if the Asian giant’s growth slows or […]

How an EU-US Free Trade Agreement Will Affect the Energy Sector

By Sonja van Renssen/Energy Post: Two weeks ago, the second round of negotiations for an EU-US free trade agreement took place. Energy has not been making headlines in the context of these talks, but a TTIP (Transatlantic Trade and Investment Partnership) will have far-reaching implications for the energy sector, e.g. with regard to oil sands, LNG […]

China Gobbles Up Assets in Latin America

China National Petroleum Corp (CNPC) has agreed to purchase $2.6 billion in Peruvian gas assets from Brazil’s debt-strapped state-run oil company Petrobras as China works fast to increase its Latin America footprint. CNPC, China’s top oil and gas firm, will buy Petrobras Energia Peru SA, which owns three oil and gas blocks in Peru, currently […]

MMT’S MOTHER WEARS ARMY BOOTS

When I was a kid, there was always one response that won any playground argument: “Your mom wears Army boots”. It was the magic trump card that humiliated the opponent and ensured victory. To be sure, I never quite understood why. Was it because she “wore the boots in the family”? Or because she was […]

The New Economic Nationalism, Part 2: The New Great Game

Commentators often assume that relatively unfettered trade in goods and services and free movement of capital are givens, but the drive toward greater economic openness could now be undergoing a reversal, with profound implications for the global economy. This piece, picking up from where Part 1 left off, looks how different countries may adapt to this […]

BIS: Daily FX Turnover Averages $5.3 Trillion

The Economist drew from the latest survey of the Bank of International Settlements to create this Great Graphic that shows the average daily turnover of the top 16 currencies.   Source: The Economist Average daily turnover is a mind-numbing $5.3 trillion.  In three days foreign exchange turnover is sufficient to cover world trade in a year. The BIS conducts the survey […]

The New Economic Nationalism, Part 1: A ‘Juche’ World

Commentators often assume that relatively unfettered trade in goods and services and free movement of capital are givens, but the drive toward greater economic openness could now be undergoing a reversal, with profound implications for the global economy. This piece, the first of a two-part series, looks at the drivers of this shift. Globalization reached […]

UK’s July Trade Data Disappoint

Britain’s trade lurched sharply into wider deficit in July, in a way that suggests some erratic factors came into play. The overall trade deficit widened from £1.3 billion in June to £3.1 billion in July, including a £9.9 billion deficit in goods. According to the ONS: “In July 2013, exports of goods to countries outside […]

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