Only 20 "emerging market” (including Isreal and S Korea) can regularly borrow in their own currencies! data.bloomberglp.com/indices/sites/… Rest of EM borrowers need a global currency hedging facility argues @SonyKapoor ft.com/content/2b570c… https://t.co/xnqA4KMAlO
About 90% of cross-border debt for low and lower-middle income countries, nearly $2tn, is denominated in hard currencies -> exposes fragile borrowers to large currency risks. We need a global currency hedging fund. Or @IMFNews ? This by @SonyKapoor is good ft.com/content/2b570c… https://t.co/E2LdA4KnFG
"no longer is there a separate European school of central banking — more attentive to inflation than deflation." @MESandbu latest pairs well with my @socialeurope column on ECB Strategic Review ft.com/content/435e96… socialeurope.eu/climate-crisis… https://t.co/HnxbBhl9HO
"Brussels wants to allow industry in EU to maintain free carbon credits until 2035 and offer 20% of ETS revenue as financial aid to poorer households to combat energy poverty, in bid to win support for climate package.” @MehreenKhn with the scoop. ft.com/content/c6285f… https://t.co/46u5KJ5aiG
RT @BrutalHouse: ________________ Town Hall Bat Yam ________________ Photography: Unknown https://t.co/ktEJqm6Kv3
Regular reminder that the COVID pandemic is …. NOT OVER. Shocked myself back into awareness this morning by consulting THAT @FT Graph of COVID deaths. For Latin America, in particular, this is an ongoing disaster of huge scale. ft.com/content/a2901c… https://t.co/abFBPp9Pc2
A Tibetan woman in traditional dress harvesting the remains of a … dismantled bitcoin mine. Featured by @caixin_intel it has apparently sparked social media furore in China. H/t @YanjieHuang_ny twitter.com/_weiq/status/1… https://t.co/DGtHfIxdND
In past 30 days the US has sequenced 2.8% of positive Covid cases. By comparison, UK & Israel, with similarly high rates of vaccination, have sequenced 9.3 and 8.5% respectively. US took 2 weeks to upload data to GISAID v. 9 and 12 days for UK/Israel. ft.com/content/f8e83c… https://t.co/DrCdBGjBnC
@GhassanMoazzin @WorldBank @IsabellaMWeber @michaelxpettis This is great. Thanks for the pointer.
@akshat_khan @maxkrahe Built on, sure. Helped along, perhaps. Truly causally decisive? More debatable surely. Not to say there aren’t basic governance, power political preconditions.
@maxkrahe @FUTUREDOME3000 @AntonJaegermm Doesn’t that counterfactual get weird? … more industrial revolutions sooner -> climate crisis sooner?
RT @maxkrahe: @FUTUREDOME3000 @adam_tooze @AntonJaegermm Agreed. What matters most is a different point though: the IR could've happened mu…
RT @Andy_eprr: @adam_tooze The same guy who 15 months ago wanted £500m of public money to bail him out? That guy? ft.com/content/e26367…
@maxkrahe @DanielaGabor @ecb @FT Problem is that it plays into hands of skeptics and water melon accusation (green outside, red inside).
Since start of 2020 the bottom 50% of US wealth-holders gained $700bn in wealth v. $10 trillion in capital gains made by top 1%. nytimes.com/interactive/20… https://t.co/SbgZTJdfYG
@IsabellaMWeber @berthofmanecon @AlexSienaert @WorldBank @michaelxpettis Thank you to all! Most helpful.
At start of 2021 the richest 1% of Americans held 32% of all wealth. Most since this particular data series began in 1989. nytimes.com/interactive/20… https://t.co/qg0EIGzqED
Unless OPEC+ can agree to raise output @IEA warns rising oil prices could “put a drag on the economic recovery, particularly in EM and LIC”. Same @IEA that called for immediate stop to all fossil fuel development to get to net zero by 2050! ft.com/content/404ae3… https://t.co/VuOTKYXBJR
"only once, in 18th/19th c Britain, did an industrial/energy revolution take place without a deliberate push from above. Those odds are not good enough. We need transformation & we need it now.” @maxkrahe makes a strong point. Economic historians agree? ft.com/content/542375… https://t.co/OTSoYGE1XT
“Countries with poor human rights records can offer higher yields”. Quite the headline from the @FT ft.com/content/023813… https://t.co/WhAvturc5V
We aint in 1990s any more! In Aug 2020 Fed announced its new framework for average inflation targeting. I did a piece for @guardian on new variety in central banking. theguardian.com/commentisfree/… Last week we got @ECB Strategic Review that confirmed trend. socialeurope.eu/climate-crisis… https://t.co/3QB0Wz82Bn
“CEO of Virgin Galactic laid out a goal of taking tourists to the edge of space at a rate of more than one flight a day …”. This has to be stopped! Given the climate emergency we don’t have the carbon budget for the elite's planetary escapism! ft.com/content/0d9c91… https://t.co/ocOyZ3WsS7
Can anyone recommend anything good to read on early @WorldBank contact with China and, in particular, their first 1983 report, which is little short of a paean to socialist development in a low income countries. @IsabellaMWeber @michaelxpettis https://t.co/czItlUa335
Yes PLEASE. I AM adding @maxkrahe to my @FT topics bar! Congrats Max. @gilliantett ft.com/stream/dd3726c… https://t.co/zUbcAZsI4k
"Tackling climate change requires transforming 5 provisioning systems: energy, transport, buildings, industry and agriculture. Price mechanism struggles with coordinating rapid transformation at scale.” Lets face it. We need to plan! Excellent by @maxkrahe ft.com/content/542375… https://t.co/7inBLTrK1i
@DanielaGabor @ecb Hi @DanielaGabor hi @maxkrahe why are we calling this central planning rather than something like indicative planning. Central planning really hands the game to the opposition doesn’t it? And will distract a bunch of smart people with calculation debates!
RT @DanielaGabor: the central planning angle also explains why @ecb let us down on climate: its risks framework allows it to pretend that…
"The Biden administration will this week warn US companies of the increasing risks of operating in Hong Kong as China asserts greater control over the financial hub.” ft.com/content/023813… https://t.co/fZt6QOuoLs
One of the most fascinating groups in early 20th century politics are the "Anfu clique" who maneuvered to bring Republican China into WWI and keep it Republican. Amazing @ernestleugmt thread on their technocratic visions. twitter.com/ernestleungmt/…
RT @ianfailes: 'Escape From New York' at 40: how those 'CG' glider graphics were actually achieved with physical models https://t.co/uMBXbM…
RT @ernestleungmt: 17/ The Chinese civil war at the time was a proto-proxy war, and a sub-theatre of WWI. Sun Yat-sen had accepted large su…
Chinese hight-tech plans for colonization of Xinjiang were first promoted during WWI along Russian and German lines. @ernestleungmt is just an essential follow. twitter.com/ernestleungmt/…
RT @ernestleungmt: 13/ Nishihara, aide to Japan's PM Terauchi Masatake, thought the war was the best chance to build an "East Asian Economi…
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