ADAM TOOZE

Not extinct! “Inflation is not dead,” said Bundesbanker Jens Weidmann, one of the more conservative hawks on the ECB governing council. He compared inflation to the Galápagos giant tortoise, which was wrongly classed as extinct for 100 years."  @MAmdorsky ft.com/content/1e0b2a… https://t.co/A5YrHrcMWg

Because China General Nuclear is one of Chinese companies sanctioned by US, Framatome/EDF its partner in the Taishan EPR reactor had to apply to Biden admin for approval before helping out with recent minor issues at plant. What could possibly go wrong? ft.com/content/1c47d8… https://t.co/Ca2lxneXdM

Brexit has not been border shambles many feared. But ood and drink industry, where burdens of new paperwork are highest, saw trade volumes plummeting by 75 % in Jan ‘worst-case scenario” wasnt far off but disruption took place at the factory level. ft.com/content/1001c0… https://t.co/JjecsQAfBl

"imagine if, just weeks before CCP’s 100th birthday party, there had been a nuclear disaster just 75km west of the Pearl River delta, one of the country’s most densely populated and economically vibrant regions.” Its baaaaaaack! The Chernobyl moment meme ft.com/content/1c47d8… https://t.co/WFrPO3YlUH

“The political noise between London and Paris isn’t reflected in the way French customs officials work.” Big reason why cross channel traffic has not been the ****show many feared is “French pragmatism”. ft.com/content/1001c0… https://t.co/N1tpICaOX9

Apartment prices in Seoul have risen 88 per cent and 57 per cent nationwide since Moon Jae-in took office as President = dominant issue in upcoming S Korean election. ft.com/content/bca63a… https://t.co/dHMKKjPn48

Cognitive Dissonance 2021: To hit net zero, even @IEA says: we have to end all new oil development NOW Faced with Econ recovery, same @IEA calls for “taps open” -> @FTLex worries that oil majors not investing ENOUGH! One for @70sBachchan @HelenHet20 ft.com/content/d728b9… https://t.co/XjAgVtYFXF

For some reason this excellent tweet by @pseudoerasmus on the argument about a transition out of capitalism is not retweeting. So here it is as a screen shot! https://t.co/6iM1rhgIE2

Declining UK productivity growth is less of a puzzle than though. When you properly account for the telecoms sector growth in early 200s is less strong and a bit better after 2008. Important @ONS update. Nice report by @valentinaromei ft.com/content/ec40eb… https://t.co/CHu0u17xb0

RT @hangingnoodles: On the global polluter elite …is you & I @adam_tooze + by global income Top 1% ~$109,000 Top 10% ~$39,000 https://t.co/…

RT @Mij_Europe: @adam_tooze Very. Look out for my next note/Politico Europe piece tomorrow/Thurs that will update on latest intra-EU debate…

German SPD Fin Min Scholz doesnt want to talk about rules. Not about Germany's debt brake or EU rules. "They are flexible enough" -> amounts to deferring until 2023 and hoping for best. Leaves rest of EZ living with large uncertainty. How damaging? ft.com/content/1d6d88… https://t.co/ytBc6qsLQz

This month, the UN and international aid groups said that 350,000 of Tigray’s 6m people were already living in famine conditions A further 5m people were classified as being either in “crisis” or “emergency”. NB: map from March. ft.com/content/194a49… https://t.co/JvAe5PmpEP

Syrian civil war -> 6.7 m currently displaced. Stabilization of frontline -> cautious resettlement/return of 467k refugees in 2020. BUT in last 6 months new dynamic. Collapse of economy/inflation -> surge in pop looking for basic relief in camps. thenewhumanitarian.org/news-feature/2… https://t.co/6qzstvLSsO

RT @HealeyParera: Very sharp @adam_tooze assessment of the global politics of carbon, climate, and class. adamtooze.substack.com/p/chartbook-ne…

@HealeyParera Thanks Mark! Only the other evening one of your students was singing your praises! @DEHEdgerton

Remember the reflation trade & “steepener” bets? Got hit hard by sudden revaluation of Fed stance following June meeting. Short yields surged v. Long yields flattening the curve! Nasty moment for several prominent hedge funds. @colbyLsmith @journofletcher ft.com/content/4fc62d… https://t.co/cBHJLBgqS7

For anyone out there still under illusions about quite how constrained Biden’s rooms for maneuver on infrastructure is, this by @LaurenFedor is worth checking out. ft.com/content/c31cb3… https://t.co/9oPu7j7kc9

@NikoEcon Byrd-Hagel I would see as instance of national competition/geopolitics logic, which is subtly different to free rider.

@NikoEcon Point well taken but how much evidence is there really for this kind of logic operating? The US v. Kyoto in 1990s is more great power competition than free-riding. Coordination problem seems far more pressing.

RT @schuetz_marcel: „Ohne Organisation geht es nicht. Mit Organisation geht es auch nicht.“ (Luhmann, 1975)

As gold prices soared from early 2000s, industrial mining took off in Burkina Faso. Production surge drove metal to the top of its export list — from 2% of all exports in 2007 to 77.5% in 2019. Traded to Togo and from there to Emirates. @neiLmunshi ft.com/content/8ff4c2… https://t.co/4bxJmbebRx

In Burkina Faso at heart of increasingly chaotic Sahel region, jihadist activity preys on informal gold mining which generates lucrative exports to Gulf markets. This excellent as ever by @neiLmunshi ft.com/content/8ff4c2… https://t.co/muvnfuhdvk

"One of the background sounds in cities such as Lagos, Baghdad or Kabul is the heavy thrumming of diesel generators.” Dizard Now the sound is increasingly common in US as grid instability -> large surge in demand for backup generators. Generac booming! ft.com/content/c376b2… https://t.co/EkAwKAFoP6

"Six months after its chair Lai Xiaomin was found guilty of corruption and executed, the fate of Huarong Asset Management, China’s biggest bad debt manager, is no clearer and the stakes for Beijing are rising.” ft.com/content/7561bc… https://t.co/cHvzng8MQE

South African Reserve Bank governor Kganyago confident that country will not suffer a 2013-style taper tantrum. Its current account position is much stronger -> continues to keep interest rates at historic lows despite taper talk from Fed. ft.com/content/872790… https://t.co/ZRWnHfhGm4

Turns out that according to @IISS_org China’s cyber warfare capacities have been grossly exaggerated. It is quite vulnerable. Only US is really capable of top flight offense and defense … well fancy that! ft.com/content/3350bc… https://t.co/IaAGtWMokG

Of 2.1m new members CCP recruited in 2018, less than 5,700 were migrant workers even though such labourers account for > 1/3 of China’s working-age population. ft.com/content/faf222… But, as official data show the CCP does recruit peasants! economist.com/special-report… https://t.co/uhxnNn2gjm

“Playing up [1950s attack on landlords] is historical nihilism,” Wang said, using term used by President Xi to put down anyone who deviates from party’s official historical narrative. Certain files in China’s national archives will be off-limits forever ft.com/content/faf222… https://t.co/WWmpzoNWKU

India’s financial markets have mounted a rollicking recovery from the downturn caused by the country’s devastating second coronavirus wave, but society more broadly and economic confidence have been very severely shaken. ft.com/content/c14517… https://t.co/7hmaI0CAOl

As markets ponder oil endgame 2021 creates new types of cognitive dissonance. @IEA announces that new development of oil must cease to have any chance of hitting net zero by 2050. Oil prices rally. Shale, for once, doesnt invest -> markets love it. ft.com/content/76d3f8… https://t.co/T6DS5r5S9p

@DestinKJenkins Thank you @DestinKJenkins congrats on reaction to the new book!

Intellectually, Xi emerged from debates between rival schools in CCP on how to interpret fall of Soviet Union. Xi’s rise owed much to the support of Zeng Qinghong who was hardline on need to maintain party narrative. Interesting this by @JeremyCliffe newstatesman.com/world/asia/202… https://t.co/4WmCDkmQnZ

US cannot afford housing market ‘boom and bust’, warns Fed official ‘You don’t want too much exuberance,’ says Eric Rosengren amid fears over hot property sector ft.com/content/ff83ed… https://t.co/Cvnbg95BYb

"Germany’s policymakers have boxed themselves in by the politics of rules. “Most political actors still think you don’t win votes when you criticise the debt brake”, @PhilippaSigl says.” And that, as @MESandbu insists, has implications for all of EU. ft.com/content/41cd98… https://t.co/dBRJenDsVV

Alain Josseau’s Geographes series are fascinating! claire-gastaud.com/artist/Alain-J… https://t.co/rp0k6a9E6V