ADAM TOOZE

RT @M_C_Klein: Looks like everyone wants to get out of Texas twitter.com/CT_Bergstrom/s…

RT @heimbergecon: Those who think that Italy just did not do enough fiscal consolidation to fix its public finances: Fiscal consolidation i…

RT @AntonJaegermm: Churchill once wrote a counterfactual history of the American Civil War, where Confederacy wins at Gettysburg, marches o…

Could there be a big data equivalent of Bretton Woods to create a World Data Organization, as suggested by @ianbremmer ? Im skeptical of BW analogies. Corona =/+ WWII. But this @TheEconomist briefing is well worth your time. economist.com/briefing/2020/… https://t.co/9I1Gg30CGq

Up in the cloud: how the balance of data storage moved off people’s desks into public cloud storage. Of course, overall the quantity of data being stored everywhere has gone up massively! economist.com/briefing/2020/… https://t.co/Uic1uJDcrE

How data-protection regulations spread worldwide. economist.com/briefing/2020/… https://t.co/aFa0XcJ2UE

Tech platform businesses by market capitalization as of Nov 17 2020. Little wonder perhaps that China & EU have preserved greater "state autonomy” in relation to giant US-dominated sector. economist.com/briefing/2020/… https://t.co/PtlYqkpMyY

EU talking about a European cloud within American one. Gaia-x is a federation of clouds, launched by Germany and France in June, whose members agree to rules on customer data sharing -> create “data spaces” ruled by European law economist.com/briefing/2020/… data-infrastructure.eu/GAIAX/Navigati… https://t.co/slo9Ql3mLl

The scale of Africa is staggering: Somalia has a 3,300-km coastline! With over 1 m people facing severe food insecurity & 307,800 children under the age of five acutely malnourished -> fishery industry could play key role as source of food and livelihood. https://t.co/GOF8bCArqs

"A partial catalogue of the past few months’ disagreements shows the fractiousness that stops the free world coming together on rules for digital tech —and how many opportunities for dealmaking there would be if it decided it should.” economist.com/briefing/2020/… https://t.co/w91QF6fY4a

How @TheEconomist Geetty imagine Erdogan looking as he “faces economic facts”. Interesting tit bit here that 30-40 AKP MPs threatened to go over to opposition unless Finance Minister Albayrak was sacked. economist.com/europe/2020/11… https://t.co/Lym555EqrS

The scale of Africa is staggering: Somalia has a 3,300-km coastline! With over 1 m people facing severe food insecurity & 307,800 children under the age of five cutely malnourished -> fishery industry could play key role as source of food and livelihood. fao.org/blogs/blue-gro… https://t.co/5RfQ0Ip1xk

RT @apizzo: Indiana Jones tank #photography #blackandwhite #bw #blackandwhitephotography #noir #noiretblanc #highcontrast #monochrome #mono…

Fish-aggregating devices are deep-water mooring, which works by attracting fish, primarily oceanic fish like tuna that are migrating through the area -> give artisanal fisherman a chance v. Giant industrial trawlers but create their own hazards. fao.org/blogs/blue-gro… https://t.co/JUflPMqqon

RT @70sBachchan: 12/ In 2020, over 500 billion (!) locusts were killed in E Africa & Yemen. With rains they reproduce like lightning; #'s m…

What stands out for US readers of the data, is that Germany and the US are level pegging and that many European countries appear far more mobile than either of them. If one makes the adjustments @APeichl advocates, does anything change about that surprising picture?

It seems possible, therefore, that social immobility in Germany, whilst being severe, is somewhat less extreme than @OECDeconomy suggests. But the question that @APeichl and his team do not, as far as I can see, address, is the question of international comparison.

Intergenerational income elasticity data compiled by @OECDeconomy and endorsed by @PIIE Showing Germany and US similarly immobile have caused quite a stir. piie.com/microsites/how… It turns out they are disputed by IFO study of @APeichl h/t @FuestClemens ifo.de/DocDL/sd-2018-… https://t.co/pxMKvFgpHc

The IfO group show that the @OECDeconomy numbers are an outlier amongst mobility studies. They show that some of the assumptions made by the OECD economists to calculate the figures are restrictive and above all they exclude self-employed which, they claim, biases the result down

Barilla supplies 22% of pasta & 39% of sauces eaten in Germany -> lockdown requires 2-3 dedicate barilla trains from Parma to Ulm carrying 490 tonnes of pasta, 60 tonnes of sauces and 50 tonnes of pesto. economist.com/business/2020/… https://t.co/pbmfmMmuP7

Mark Nov 17 2020 as a moment in new era of nuclear missile competition: A sea-launched US sm-3 Block IIa interceptor destroyed an incoming ICBM. A limited success in technical terms but with big implications for nuclear arms control v. Russia and China. economist.com/united-states/… https://t.co/ezM5N0anzN

Arab universities produce plenty of doctors. In Egypt about 7,000 of them graduate each year—15% more than in America, adjusted for population. But rather than accept bad pay in underfunded healthcare systems, they prefer to emigrate. economist.com/middle-east-an… https://t.co/JjKCa0baB8

Where do used American cars end up? UAE, Nigeria, Georgia (the country) and Mexico. @StatistaCharts via @SoberLook https://t.co/ISZIM1Q9DL

Germany is significantly less unequal than the US (after taxes and benefits). But it is NOT more socially mobile as measured by father and son’s incomes. UK far more mobile! Very striking data from @OECDeconomy piie.com/microsites/how… https://t.co/phAYQu3APO

Taiwanese companies have invested $190bn in Chinese operations over the past three decades. Corporate brands have high profile. But flood is slowing due to politics, Chinese local competition, US-China conflict and dwindling interest of younger Taiwanese. economist.com/business/2020/… https://t.co/D9Cf15gGXd

Gendered differences in investor behavior as captured by this @magnify_money survey are dramatic. Via @SoberLook https://t.co/xaJx7QGVFl

Foreign investors are piling into Chinese bonds offering attractive yields. But how do you judge which are safe? Big, state-backed used to be the answer. But in recent weeks that has been called in question by a series of surprising defaults. economist.com/finance-and-ec… https://t.co/0SSEj5VbKY

@unioneyes @joejglenton I thought of N Ireland because it seems to me like a conflict that the UK military fought to a large degree “isolated” from the UK mainland. It was your invocation of praetorian identity.

RT @milleropoulos: @PaulBlustein one of few that write eloquently on bonds! twitter.com/adam_tooze/sta…

Pol econ of debt relief is multi-sided: Bondholders, Chinese development banks, rich-country govs v. Govs (often corrupt/authoritarian), businesses, tax payers & citizens. Zambia a tricky case in point! economist.com/middle-east-an… For more background see adamtooze.substack.com/p/chartbook-ne… https://t.co/d87nsNhpPB

Higher interest rates -> government debt service burden for EM is trending in opposition direction to that for AE. @IIF via @SoberLook https://t.co/53lCgLOwsQ

As PNC snaps up Spanish bank BBVA’s US operations is trans Atlantic banking disentangling? Facing mammoth competitors European banks in the US lack scale necessary to compete. economist.com/finance-and-ec… https://t.co/u3GEHiKTYC

@joejglenton N Ireland?

The debt crises of 2020 are more complicated because concessional gov loans from AE compete with private debt and Chinese lending. economist.com/finance-and-ec… For more links and charts see Chartbook newsletter # 3. Sign up here: adamtooze.substack.com/p/chartbook-ne… https://t.co/WnoVGOJ3km

"Countries can increasingly understood as platforms: national operating systems of sorts.” @TheEconomist China is like Apple: closed with internal competition EU is Linux America is Microsoft’s Windows and Android: mixed open/closed. economist.com/briefing/2020/… https://t.co/Q9YsbLsRAU

"slowdown in technological progress explains at most part of one-third of the growth slowdown” in the US. @DietzVollrath work discussed in this excellent blogpost. mattsclancy.substack.com/p/maybe-there-… https://t.co/xBj14lBds0