ADAM TOOZE

@ummodern 🙂 but Gowan was also excellent on this back in Jan/Feb 2009 in that amazing last essay of his in @NewLeftReview “Crisis in the Heartland”. Staggeringly good and prescient of the way the intellectual conversation would turn. newleftreview.org/issues/ii55/ar…

"central banks have to carefully communicate their policy plans. This would help prevent volatility” for hard-hit EM. "key is to prevent the types of spillovers we saw earlier this year.” @IMFNews @KGeorgieva warns of risks to EM of “data tantrums” blogs.imf.org/2021/07/07/urg… https://t.co/hKoOigg7Bi

"Treasury yields have crashed at long end, and yield curve has flattened significantly. There has been a matching move in equity markets: growth/technology stocks have extended run against value/cyclical stocks.” What is the trigger? asks @rbrtrmstrng ft.com/content/b41aa3… https://t.co/obdnTOIE0s

The forecasted growth in EM air travel and the size of the populations involved -> air travel is key hard to abate sector. We need progress on low-emission options urgently! And Europe/US need to curb growth and dial back short haul asap. ft.com/content/09024b… https://t.co/o0xbJ1uvzi

"Why a carbon border tax is a necessity EU’s proposal is a good attempt to prevent carbon leakage while avoiding WTO objections” Excellent @FT editorial! ft.com/content/25408d… https://t.co/r1ok5eC7cY

RT @EvangelosNikos: @adam_tooze Look at two centuries and (assuming this is reliable) the postwar boom itself appears as one of several bli…

@Ole_Funke @OlafStorbeck Thank you @Ole_Funke this really is an exceptionally good piece of well-informed journalism puncturing the simplistic Pillenknick narrative. Kudos to @spiegelonline

“Comac’s new C919 is not a threat to Boering/Airbus outside of China,” said Aboulafia, vice-president at aerospace consultancy Teal Group. “But China is the biggest export market on the planet.” this @primroseriordan Pfeifer piece is worth your while. ft.com/content/09024b… https://t.co/vMH8l1Jz0n

@ummodern COMPLETELY agree. They have emphasized the aspect with the least causal power which is why I wrote Crashed with barely a mention of neoliberalism.

@EvangelosNikos And that earlier crash was staggering in scale. Remarkable shift in a single generation.

"New Saudi import rules, disagreements over how to unwind OPEC production cuts and a race to claim the mantle of the region’s business centre have all strained the UAE-Saudi relationship.” Gloats Qatar-backed @AlJazeera_World aljazeera.com/economy/2021/7… https://t.co/WXWjByyWB5

China’s single-aisle passenger jet contender the C919 is the fruit of $72bn in public support and relies on global supply-chain. What spooks Western competition is not gen 1 but what comes next and how they are squeezed in huge Chinese market. ft.com/content/09024b… https://t.co/UvExANnki0

"US government bonds rallied, the dollar firmed and equities wavered as investors positioned themselves for a slowdown in the booming pace of economic growth.” @naomi_rovnick @colbyLsmith Has the much-feared "data tantrum” passed? ft.com/content/e82e98… https://t.co/lUyHxnjnVN

@ummodern You know my take. It is all three things: an intellectual system/utopia; a Janus-faced mode of governance exemplified by indep central banks; a particular social/inequality/accumulation regime picked our by piketty data

Spun out of China’s military aviation industry in 2008, Comac has announced close to 1,000 orders and options for its C919 single aisle plane, mainly from domestic customers. The first delivery is due to take place by the end of this year. ft.com/content/09024b… https://t.co/CZ3HSFFbvI

I was aware that there was a postwar baby boom in Germany and then a decline. I did NOT realize that the decline in live births was a Baby-CRASH. From mid 1960s. Live births fell by 40% in only 10 years! Is this the pill? Some kind of “base effect”? destatis.de/DE/Service/Sta… https://t.co/xdx7XAOPgG

Some of America’s biggest oil groups are racking up tens of billions of $ in hedging losses. Oil is trading near six-year highs of around $75 a barrel, but almost a third of the US’s 11m barrels a day of production is being sold for just $55 a barrel! ft.com/content/0d60da… https://t.co/s0UHlIfbY8

"Technological edge and productivity are not helped by factory fetishism, and international supply chains may be more resilient than purely domestic ones.” As @MESandbu points out, the argument for industrial policy is complicated. ft.com/content/8a355f… https://t.co/Nte5wafWuy

“This is gross, dirty and polluting stuff,” said Aaron Mintzes, senior policy counsel at environmental group Earthworks, about mining rare earths. “And, frankly, it’s why it happens in China.” Why “rare” earths, which aren’t rare, aren’t made much in West. ft.com/content/fe8fc6… https://t.co/uNQWRAAiMi

Oil and hegemony. This is interesting from Anand Toprani in JFQ. ndupress.ndu.edu/Portals/68/Doc… https://t.co/UDwnp7SSeA

As ever @RobinBrooksIIF crucial to read on the fluctuations of the bond markets with an eye to EM in particular. twitter.com/RobinBrooksIIF…

RT @NisrineR123: A French medallion showing the French and Russian emperors embracing each other after the treaty of Tilsit of 1807. I love…

"It’s surely right that “West" should seek to compete with BRI by exporting ideas and institutions to EM rather than cheap (or at least strings-free) loans. But our economic and political systems aren’t currently properly set up to do so.” @alanbeattie ft.com/content/609bc9… https://t.co/VtOCCwsQQf

Of course @DanielaGabor is right. And devil is in detail. But I remember making a bet with myself back in summer of 2019: "If they open the neutrality question, I will pop a cork". This is an opening! I am popping a cork. twitter.com/DanielaGabor/s…

This is devastating in its technical precision from @DanielaGabor and necessary. BUT come on. Let's pinch ourselves. Sure, not Bank of England. But, in 2019 did we think we would get this much from ECB given Weidmann's position at that point? Credit to @Isabel_Schnabel and team! twitter.com/DanielaGabor/s…

RT @KeineWunder: Die EZB wird bis 2022 konkrete Vorschläge vorlegen, um das Prinzip der Marktneutralität bei ihren Käufen von Unternehmensa…

RT @DanielaGabor: risk framework, we know from debates on Sustainable Finance taxonomy, is what private finance pushed for https://t.co/y…

RT @fwred: Last but not least, the ECB's climate-related action plan gets its own press release, including modelling, statistics, disclosur…

RT @fwred: Your usual reminder that a "transitory" period of "moderate" inflation overshoot is not going to change the big picture given pa…

RT @AntoineBouvet2: The ECB will review it strategy regularly, with the next review being in 2025 This is a surprise. One could argue this…

"Withdrawing from Opec — a once impossible thought — would allow UAE to boost its low-cost production as part of an output maximisation drive, rather than complying with cartel quotas.” UAE sees pumping as much as possible as key to post oil future. ft.com/content/d0b773… https://t.co/qM1x4CnWK8

RT @COdendahl: Here is it: the #ECB strategic review press release. ecb.europa.eu/press/pr/date/…

RT @secondt3mp: @adam_tooze Most of this might be also due to increase inequality among the states . Interstate gini has been increasing fo…

IMF estimates that faster access to vaccinations for high-risk populations could potentially save more than half a million lives in the next 6 months alone. Good on @IMFNews @KGeorgieva for banging the drum for a cooperative push for end to the pandemic! blogs.imf.org/2021/07/07/urg… https://t.co/S75owC9UTB

So far in 2021 ECB policy-makers have mentioned climate more often than inflation. One for the history books. twitter.com/deyris_j/statu…

After ignoring climate as an issue for 20 years, in 2020 it was present in HALF of speeches made by ECB policy-makers! Great thread this by @deyris_j twitter.com/deyris_j/statu…