ADAM TOOZE

@Helm_HH Jeezus christ! That is like some kind of pavlovian reflex kicking in …. Like when the German publisher put a broken dollar on the front cover. Couldn’t help themselves …thank you for letting me know.

"A senior EU diplomat said the ETS expansion could be abandoned, despite being positioned alongside a proposed €72bn fund to help alleviate energy poverty.” Faced with a modest price increase the level of freak out is truly telling! ft.com/content/883a67… https://t.co/37YZkX9yss

“If I was going to do a coup, one of the last people I would want to do it with is Gen Mark Milley,” "Choked like a dog" when attacked by media after church walk. "not the type of person I would be talking ‘coup’ with,” Trump added. “I’m not into coups!” ft.com/content/d1e920… https://t.co/8qzJXWGn8s

"I spent the weekend reading a book I wasn’t entirely comfortable being seen with in public.” @ezraklein on Andreas Malm’s “How to Blow Up a Pipeline”” nytimes.com/2021/07/15/opi… https://t.co/lX4bbfEtNJ

Commission president Ursula von der Leyen faced down a revolt among at least 7 of her 26 commissioners before presenting the plans. The reforms will need the support of a qualified majority of EU governments and the European parliament to come into force.  ft.com/content/883a67… https://t.co/BHK8iXqiTm

RT @SergiLanauIIF: We've built a new dataset of flows to Chinese govies splitting out purchases by central banks from the rest. Matters a l…

Alexander von Falkenhausen: The German who trained Chiang Kai-shek crack NRA divisions that were thrown into the fight for Shanghai in 1937 and mainly destroyed. twitter.com/michel_deniau/…

Israel directly controls 85 percent of water resources in the West Bank and is denying the Palestinian Authority the permits it requires to drill more wells -> critical water shortages in summer months. aljazeera.com/news/2021/7/15… https://t.co/Bcpl92Y7zV

Europe and Japan dominate global spending on motor vehicle R&D. The US accounts for only 20%. Slightly more per vehicle produced than in US. Much more than in Japan. bis.doc.gov/index.php/docu… https://t.co/K0L4wHvcTb

Btw 1985 and 2017 the share of US vehicle market that went to imports and foreign-owned production in the US rose from 33 to 78%. bis.doc.gov/index.php/docu… https://t.co/nOqD9jaAMZ

In 1985 Mexico accounted for 2% of N American motor vehicle production. By 2017 its share had increased to 22%. At the expense of US. Canada’s share held steady. bis.doc.gov/index.php/docu… https://t.co/y3yQfs7pwp

In 1995 over 35% of motor vehicles worldwide were made by US-owned firms = #1. By 2017 US share had fallen by 2/3. V. EU share which actually rose! bis.doc.gov/index.php/docu… https://t.co/Jl6EtIsvEf

Asia now accounts for majority of global auto industry with production in China equivalent to the US and EU put together. bis.doc.gov/index.php/docu… https://t.co/ATadd8tf2z

RT @iamvarun: @adam_tooze Journal of Global History – Volume 16, Issue 2, July 2021 Dating the Great Divergence – Jack A. Goldstone (to ~1…

For chip producers, Asian manufacturing hubs offer much more generous incentives than their US or European counterparts. semiconductors.org/wp-content/upl… https://t.co/Hp3EVnkKLq

There is a lot of talk about industrial policy & shifting chipmaking to “the West”. But 50% of new capacity that will meet needs of next 10 years is already in development -> $50bn might be able to shift a big slice of remainder to US. Says the industry. semiconductors.org/wp-content/upl… https://t.co/SVGE1WeHN1

US is pivotal to global semiconductor supply chain, but not as a manufacturer. In fact, only global industry in which US has a dominant position as manufacturer would seem to be aerospace. semiconductors.org/wp-content/upl… https://t.co/qkwdSl6keO

The largest corporate CO2 emitters that have not disclosed their greenhouse gas emissions. Coal India is overwhelmingly the largest recalcitrant! State-owned firms, not privates dominate this list. msci.com/documents/1296… https://t.co/zoYBmHNC72

The rioting across South Africa has cost over 70 lives, forced deployment of 2500 troops and closed 200 malls and shopping centres that were being looted. Zuma issue has unleashed a tidal wave of anger about social deprivation and poverty. aljazeera.com/news/2021/7/14… https://t.co/Vv3gVNiLwH

“High temperatures 106 to 114 degrees [41C to 46C] each afternoon,” California’s fruit pickers face a ghastly summer ahead. aljazeera.com/economy/2021/7… https://t.co/yQOCa8UozC

The Fed has spent a little more than $2.2 trillion buying agency MBS since the pandemic began. $1.14 trn in newly triggered purchases = 45% of all mortgage bonds issued. Why? @M_C_Klein explains in his brilliant new newsletter. Fantastic stuff! theovershoot.co/p/the-fed-mbs-… https://t.co/gdjVhlwR4r

In 1990 US and Europe accounted for 80% of semiconductor manufacturing. Today their share is 18%. Decline in Europe even more precipitate than in US! semiconductors.org/wp-content/upl… https://t.co/aZx9ICvgEV

"Watching the Number Ones … using effective oversight to manage and use well the ‘key few’.” This by @HollySnapeWang for @niubi is absolutely fascinating about the self-regulation of the CCP. sinocism.com/p/watching-the… https://t.co/RmrSrGKoM0

Gotta say, @NathanTankus newsletter website does look REALLY great! Congrats Nathan. For in deep financial analysis, you should really check it out. crisesnotes.com/bitcoin-is-not… https://t.co/ecLkzrTFHs

The June US producer price report topped forecasts, with the core PPI monthly gain hitting a multi-year high. thedailyshot.com/2021/07/15/hou… https://t.co/ve0YfFmus2

The Royal Navy in China 1920s: Yangtse Gunboat Patrol. "Over a stretch of 1,300 miles of river these interesting units protect civilians of every nationality from the attentions of numerous bands of pirates”. Recycled vessels used in Mesopotamia in WWI! shippingwondersoftheworld.com/gunboat_patrol… https://t.co/4sqNlICGcv

@kpd_musing @_pardalote_ @CSIS Very cool. Thank you. I saw the precis in @TheEconomist of some work along these lines. Still want to know the gdp relativities.

Finding Alec Cairncross amongst the regular interlocutors with Chinese economists in the 1980s and one of least dogmatic on price liberalization, was one of intriguing finds in @IsabellaMWeber new book about How China Escaped Shock Therapy. https://t.co/HeFXO5xI3F

Battle of Shanghai, Aug-Nov 1937 was the great fight of Republican China’s German-trained and equipped troops. At times, looking at the images induces the confusing sense that the Reichswehr fought Stalingrad. en.wikipedia.org/wiki/Battle_of… https://t.co/yAGLh5RgDn

For a war that lasted a month China’s attack on the northern provinces of Vietnam in Feb-Mar 1979, heavily pushed by Deng, was both shocking to any conception of socialist solidarity and remarkably bloody (20-30k KIA on Chinese side alone). en.wikipedia.org/wiki/Sino-Viet… https://t.co/caTRDviovY

"a family of 4 with a petrol car and gas-fired heating would pay an additional €204 a year in 2021, rising to €451 in 2025 when carbon price hits €55 a tonne.” @MehreenKhn 50/100 euro per capita … and a majority of Govs throw up their hands! ft.com/content/a4e379…

@MehreenKhn The Gilets Jaunes experience that has very specific French background just gives bad faith actors an excuse not to work the distributional arithmetic, which, when you examine it in detail, is not actually all that daunting.

@MehreenKhn So up the ante. The question has to be simply what is their price? A thoroughly manageable distributional problem in the order of a few ten billion euros is getting blown out of all proportion here.

@ClausVistesen The EU just announced an entire facility to deal with precisely this issue. The Just transition has been endlessly debated since 2018. The conversation has moved and is moving.

Europe’s transport sector faces biggest shake-up as Brussels seeks to curb carbon footprint of an industry whose emissions have been rising since 1990. Stricter CO2 reduction standards -> de facto ban on the sale of new diesel and petrol cars by 2035.  ft.com/content/f0343c… https://t.co/9u6ZwD4A7b

Pascal Canfin, "French MEP head of Europ parl enviro cttee" is being cited all over the place as opposing extension of carbon pricing to fuels and buildings. @MehreenKhn ft.com/content/a4e379… The guy is a Marconist shellshocked by gilets jaunes protest triggered by his boss! https://t.co/s9zdShbvyF