ADAM TOOZE

Zambia plans to supplement its depleted foreign exchange reserves by buying gold produced locally as a by product of copper mining. bloomberg.com/news/articles/… https://t.co/JJxyz2WJ1g

@huntthesnark Which can get sticky … as we saw in March!

RT @huntthesnark: @adam_tooze Asset manager attention to liquidity to position for possible redemptions has turned sovereign debt into save…

This changes everything. Great @TheEconomist chart on huge surge in Chinese coal-fired power stations which drove the industrial revolution to end all industrial revolutions in early 2000s. NEW Chartbook Newsletter #8 is all about China. Sign up here adamtooze.substack.com/p/chartbook-ne… https://t.co/C57j2ZQfJo

UK twin deficits are blowing out. No-deal Brexit “most likely outcome”. And what happens? UK gilt prices surge and yields slump. In 1970s this would have been totally different, right? Or am I imagining things? ft.com/content/1909a8… https://t.co/gSVkt6i1AP

There are 3007 counties the US. 100 of them account for more than half US GDP. They vote OVERWHELMINGLY for Dems. Five of the more middling in the top 100 are Red! Huge polarization in modern America in which Dems are party of success/affluent areas. washingtonpost.com/business/2020/… https://t.co/XAohZIiZNC

We are in a haze right now, but on current trends we will wake up in 2022 & find China has dramatically closed gap on advanced economies. Unless, bad risks materialize in its financial system. Chartbook Newsletter #8 weighs the China narratives. Sign up: adamtooze.substack.com/p/chartbook-ne… https://t.co/kfLqxb5JYg

Bond markets are pretty confident Sri Lanka will service its debts through 2021, but after that the bets are off. Reserve situation looks increasingly precarious. bloomberg.com/news/articles/… https://t.co/8HdJf7kwrA

RT @HaitiToChina: @adam_tooze I like your moves

If this chart makes sense, history of AE public debt since 2008 falls into three phases: GFC -> crisis surge in debt absorbed by public. QE era: public debt/gdp static. CB soak up 15% of gdps worth. 2020 -> 20% gdp surge in debt entirely absorbed by central banks. About right? https://t.co/cNOLsUIYOU

RT @AdrianP2017: @adam_tooze Central govt bailout would be manageable – remember, federal govt there is a lot less profligate than the West…

RT @Olavarrieta: "China is not just the most dramatic phase of economic growth ever seen. (…) It is the most spectacularly dynamic politi…

RT @voicilefer: La economía china se está endeudando mucho. Especialmente destacable el grado de deuda contraída por las LGFV, fondos a niv…

RT @AdrianP2017: @adam_tooze @StevenKelly49 Great set of charts on China. Thx

You gotta hand it to EU. For all the fudges, compromises etc They agreed 1.8TRILLION Euros Argued seriously about rule of law. Argued seriously about carbon pricing & deep decarbonization. We may not be 100% satisfied with outcome but this IS THE AGENDA! ft.com/content/b961d0… https://t.co/Q51x7Y4sBB

There is no story more dramatic in economic history than China’s economic growth. And no bigger challenge of economic management. Big worries about LGFV are a case in point! New Chartbook Newsletter #8 is all about China. adamtooze.substack.com/p/chartbook-ne… https://t.co/e4GZA7t2K9

There may come a point soon when entire fossil energy share of S&P500 is worth less than 1/3 the share of Apple. @Gavekal via @SoberLook https://t.co/JP9QPGmZX8

RT @oloflover: @Jacopopelle_98 @adam_tooze holy f, gotta subscribe to this ASAP

RT @itsafronomics: H/t @ChelseaHerps: If you visit Google's front page today, you may see a Black guy with glasses. If you're an economist…

Just posted NEW Chartbook Newsletter #8. Its all about China. After a while, the extraordinary graphs just pile up. adamtooze.substack.com/p/chartbook-ne… Sign up to get the newsletter email shot here: adamtooze.substack.com https://t.co/MBZU9wWpDy

"potash — a potassium-rich fertilizer mined underground from evaporated sea beds” What a phrase. We will use 67 m tonnes in 2020. Mined by a handful of global firms. China is the big annual contract. bloomberg.com/news/articles/… https://t.co/MTani3KXDt

The ECB had quashed a lot of anxiety in Euro Areas bond markets, but 2020 has taken that to next level. Spanish and Portuguese yields down to zero! Greece ten year 0.5%! bloomberg.com/news/articles/… https://t.co/enf4O4ddia

As food prices surge, so too does demand for potash fertilizer, a less demanding alternative to nitrogen heavily used in China. H/t @SoberLook bloomberg.com/news/articles/… https://t.co/I1mYnVfVla

Commodity price are jumpy in part because supply capacity has been cut back since price collapse of 2014. @alpinemacro via @SoberLook https://t.co/Ss71gNUKe3

This is actually quite a moment. Mike Bloomberg forced to air some basic views about politics and political economy here. The body language is very telling. The veneer cracks a bit! twitter.com/NYTimesCohen/s…

Iron ore prices are surging with China-Australia trade relations souring by the day. scmp.com/economy/china-… https://t.co/mF5emrliTo

How was the last decade of economic growth? Depends VERY much who you ask! And 2020 will compound that. @OxfordEconomics via @SoberLook https://t.co/6aaIcb3aRZ

Oh no! Where did the Graphics tab go on the @FT ? For the days when all I can cope with are the pictures. https://t.co/ZXsCEPOVTq

The huge discrepancy in bilateral debt payments due 2019-2021 give an idea of China’s absolute preeminence as an official lender over last decade. More than 14 times more is due to China than to the US. wri.org/blog/2020/11/t… https://t.co/oOYktE2QIW

Job creation by way of a green stimulus. There are a lot of low hanging fruit ranging from building energy efficiency to EV charging infrastructure. @WorldResources quoting @IEA data. files.wri.org/s3fs-public/le… https://t.co/IOfWtczqMu

"With 8% of the globe’s population and 30% of its Covid deaths, Latin America is facing the pandemic’s next phase — mass vaccination — with alarm.” bloomberg.com/news/articles/… https://t.co/AONuRGhMgz

One every 12 seconds! UK has approved 365k British National Overseas passports for Hong Kongers since 2019. 60k in October alone. bloomberg.com/news/articles/… https://t.co/PTmtIJ8Yuh

Credit impulse numbers are an important corrective to idea that there has been “no stimulus” in China this year. 10 % of GDP is up there with 2015-6 and 2012 though far short of 2008-9. @MorganStanley via @SoberLook https://t.co/QnKMqNCr3u

So it begins: "Dozens of House Republicans are warning Federal Reserve Chair Jerome Powell against proceeding with climate risk regulations for the financial system, in the first major political rebuke of the Fed's new efforts." politico.com/news/2020/12/1… https://t.co/W3lxg86N7U

"In Nov, China recorded its largest month-on-month increase in fx reserves in seven years, South Korea the largest rise in 10 years, and Taiwan the largest increase ever." @Birdyword -> raises suspicion that they are resisting appreciation v. $. wsj.com/articles/climb… https://t.co/6O7BjxZSAi

China and Russia really do talk moreL Phone calls between Xi Jinping and other heads of state, January–September 2020 @ODIdev odi.org/sites/odi.org.… https://t.co/BaoCNFmUNY