ADAM TOOZE

Australia unveiled plans to invest A$1.5bn ($1.1bn) in establishing a second port in Darwin to boost exports of gas and minerals and compete with a Chinese-owned port in the northern city in N territory where jobs are scarce. ft.com/content/839711… https://t.co/bllF7uPXbl

"The recession session People are freaking out about economic downturns again.” Predictably excellent this from @RobinWigg the new editor at @FTAlphaville ft.com/content/c8c859… https://t.co/GD2Nbyg9VX

“Normal servicing of external public debt obligations has become impossible,” wrote Sri Lanka’s Ministry of Finance in an interim policy note. ft.com/content/839711… For background check out Chartbook #108 adamtooze.substack.com/p/chartbook-10… https://t.co/mOV9vNCYlo

“Macron barely has any more votes to draw on when it comes to the right,” said Dominique Reynié, a political scientist at Sciences Po university ft.com/content/d85546… https://t.co/viT9NjoYny

Of all international air travel, international flights in Asia and the Pacific have been hit hardest. The volume of flights has been about 90 per cent below usual levels since the start of the pandemic. ig.ft.com/covid-air-traf… https://t.co/kyLMMGyO9Q

“The battle for Donbas will remind you of the second world war,” Ukraine’s foreign minister Dmytro Kuleba told Nato. Putin wants a result by May 9th Victory day. But is war in 2022 like in 1940s? ft.com/content/9f21c9… https://t.co/Xj0D1PTVBO

"The worst thing it could do would be to ignore political and economic realities and simply proceed full speed ahead with the termination of asset purchases and the raising of ECB policy rates." This from Reza Moghadam is excellent. ft.com/content/6c888a… https://t.co/S3eiMfYy4v

Ukraine gov "spending exceeded revenues by c $2.7bn in Mar. Expects gap to expand to $5bn-$7bn a month in April-May because of the war. Ukraine’s GDP was worth $164bn in 2021.” If there was ever a case for @njtmulder positive econ war this is surely it. ft.com/content/466223…

Credit impulse in Chinese economy has been soft. When are we going to see a turnaround? COVID bad news hangs like a cloud over this. thedailyshot.com/2022/04/12/inf… Harks back to Chartbook-Unhedged exchange with @rbrtrmstrng @EthanYWu adamtooze.substack.com/p/chartbook-un… https://t.co/sz1EKC3oRG

Inflation pressures on EU’s eastern members are really building up. Czech Rep at 12% thedailyshot.com/2022/04/12/inf… Time to remind ourselves that Eastern Europe is in financial frontline in confrontation with Russia. Chartbook #98 adamtooze.substack.com/p/chartbook-98… https://t.co/zKC4sYWOo1

In 2021 global commodity traders made record profits. But, in 2022 volatility added huge need for liquidity. That benefits bigger players. ft.com/content/cce4c2… Pairs well with Chartbook #100 on the cash squeeze in the commodity markets. adamtooze.substack.com/p/chartbook-10… https://t.co/rEimq6gIFv

“The freedom struggle begins again today against a foreign conspiracy of regime change,” ousted Pakistan PM Khan posted on Twitter. Given huge economic stress on Pak how worried should we be? Reading suggestions welcome! ft.com/content/6b90c9… https://t.co/19Y6WMmRDZ

@picharbonnier But I rather like your phrasing … don’t settle for either version in that @NewStatesman essay though.

RT @Kasparov63: Vladimir Kara-Murza is still detained and with access to his lawyer. You can hear from @vkaramurza in his own words in his…

RT @igorsushko: By the way, @vkaramurza has been arrested now by Putin. Hero.

RT @Jderbyshire: Paris: the Macron v Mélenchon show https://t.co/o9Vf06ctQV

Will China overtake the US? @LowyInstitute now has the sorpasso moment around 2030 but then far less divergence than previously imagined. H/t @SoberLook thedailyshot.com/2022/04/11/the… https://t.co/LiiUNf0Pco

Brazil’s inflation breaks 11% thedailyshot.com/2022/04/11/the… https://t.co/f5p7bhH94P

RT @PistonFound: It’s only a piece of metal. It doesn’t have a brain. It will go where you tell it to go.” However, the skill of shaping me…

India’s central bank defended rupee with billions in fx intervention in March. Modest relative to reserve, but indicative of pressure. @SergiLanauIIF via @SoberLook thedailyshot.com/2022/04/11/the… https://t.co/zOxx0ugcrH

With inflation in Russia at 19% and rates cut to 17% -> real rates are negative. thedailyshot.com/2022/04/11/the… https://t.co/jujl0ix4ir

Farm land has looked like a good bet over the last 12 months. thedailyshot.com/2022/04/11/the… https://t.co/SZz1QmffEo

“sleepwalking towards a stockout”? With stocks of metals declining, there is "a new squeeze every week on the LME at the moment,” bloomberg.com/news/articles/… https://t.co/vW9wRU13E8

UK oil major BP may be looking at writing off $25bn in Russia business. From the essential compilation by @SoberLook thedailyshot.com/2022/04/11/the… https://t.co/52iEV4WNJF

"We received news that @MellonFdn and @ssrc_org intend to discontinue long-standing International Dissertation Research Fellowship program with grave disappointment” WHAT ON EARTH would possess you to do this? CRUCIAL support for Phd research overseas. actionnetwork.org/petitions/ask-… https://t.co/xeqgmm09Zt

"India has signed a trade deal. This is not a drill. Repeat: India has signed a trade deal. This is not a drill.” @alanbeattie on the interim deal with Australia. Might it signal a broader shift in New Delhi? ft.com/content/8f9e28… https://t.co/7ZqQtwBc75

Dotting sea off Chinese ports are 477 bulk cargo ships waiting to deliver resources from metal ore to grain into the country. Lines of vessels carrying raw materials have lengthened since Shanghai initiated its city-wide lockdown at the end of last month. bloomberg.com/news/newslette… https://t.co/1C5n3BD2aW

Algeria will agree to boost gas exports to Italy by 50% as part of a deal that will be signed during Draghi’s visit. Will offset 1/3rd cut in Russian imports. bloomberg.com/news/articles/… https://t.co/YUNyqQN9rC

RT @jeune_afrique: Compte tenu du danger que représente pour les 3 à 5 millions de Français d’origine africaine ou maghrébine la mise en œu…

RT @jeune_afrique: 🔎[Enquête] Marchands d’armes : #enquête sur les trois figures-clés d’un business opaque👉Quand et comment se sont-ils imp…

For all the violence of the war in Ukraine, the gas continues to flow. thedailyshot.com/2022/04/11/the… https://t.co/gzqlRLEYQ3

RT @iZentwt: Superb piece by @adam_tooze "The achievement of the End of History consisted in not just the triumph of the liberal model, but…

The long end of the Treasury curve (30yr – 10yr) has inverted for the first time since 2006. thedailyshot.com/2022/04/11/the… https://t.co/9tZyx27TLZ

RT @michaelxpettis: @adam_tooze Yes, to some extent, Adam, although net trade inflows are much greater than net financial outflows, and I d…

Treasury yields are now well above the long-run (“neutral”) yields (an indication of tightening monetary conditions). thedailyshot.com/2022/04/11/the… https://t.co/EzYdqCQt9B

First round performance of the Le Pen family far-right franchise in French Presidential elections back to 1988. @EuropeElects via @SoberLook thedailyshot.com/2022/04/11/the… https://t.co/mnWm23S4us