"The world has few more Orwellian conglomerates than the Xinjiang Production and Construction Corps: c. 3m-strong paramilitary-style business”: 100k security guards, 400k cotton farmers producing 1/3 of China’s cotton including with forced labour. economist.com/business/2020/… https://t.co/cXFA5K7L2z
American use of “snail mail” peaked in 2000. Since then the volume of mail has halved. ft.com/content/69b78e… https://t.co/jusy7OZU1k
The 21st-century “Eastern Question”: Turkey-(Qatar-Russia?) v. Cyprus, Greece, France, Egypt, UAE, Israel. EU? USA? Clashing fields of interest in the Eastern Med nicely mapped by @TheEconomist economist.com/international/… https://t.co/s8yadsRgw3
Back in the day, Germany’s powerful metalworking trade union started the push for the 35 hour week in Europe. Now it is mooting a campaign for a 4-day week = c. 30 hours. economist.com/business/2020/… https://t.co/OiWuT0iAno
2020 election aside, the US needs to decide what it wants its postal service to be. 2007-2019 it ran up deficits of $85bn and booked $161bn in unfunded liabilities and debt, the bulk of which is pensioner benefits. @kiranstacey ft.com/content/69b78e… https://t.co/ZKQI8laX7U
"Underlying much of UAE MBZ’s regional policy is suspicion of mass politics. Arab spring, seen from Abu Dhabi, brought chaos not hope.” Egypt is test case. How can "Dubai formula" work in a lower middle-income nation of 100 m? Good by @TheEconomist economist.com/middle-east-an… https://t.co/AEjOoLfRgS
Upon being sucked into investing during South Sea Bubble and losing modern equivalent of millions, Sir Isaac Newton reflected that he could “calculate the motions of the heavenly bodies but not the madness of people”. economist.com/finance-and-ec… https://t.co/4iVHsaHeWj
“comprehensive no-fault and non-adversarial compensation system, and an exemption from civil liability” – as we move towards possible rollout of unprecedentedly rapid and large-scale vaccine rollout European Pharma is looking for legal cover. ft.com/content/12f7da… https://t.co/Fy2jLPgHap
This looks fascinating. Have always been intrigued by the links btw these two great agrarian expansions of late 19th C. Plus Siberian dairy coops and their role in anti-Bolshevik interventions …. twitter.com/cambUP_History…
Schaffen wir das? After a slow start, Germany’s refugee cohorts of 2013 and after (Syria etc), are now doing better in the labour market than their counterparts from the 1990s. economist.com/europe/2020/08… https://t.co/BobGzw4RO1
This summer we were still asking about “Hamiltonian” moments for the EU. But given the reality of US fiscal politics since 2010 & post-COVID, is it time to reevaluate the normative status of America’s fiscal federalism as yardstick of EU development? economist.com/finance-and-ec… https://t.co/XWGo5qbOr8
“If something cannot go on forever, it will stop,” Herbert Stein’s famous phrase is often misused. It was actually a rebuttal to those who think that if something cannot go on forever, steps must be taken to stop it–even to stop it at once. @RobinBHarding ft.com/content/691cb9… https://t.co/6S5v9hI4ud
"Compose a person entirely from quotations.” Robert Musil 1920. twitter.com/gumarten/statu…
The excellent UK-based project on @RebuildMacro has a slick new website. Check it out for a range of fascinating work including a new paper by @DanielaGabor @JoMicheII @YannisDafermos twitter.com/RebuildMacro/s…
In the late 19th and early 20th century population growth helped to fuel land hunger in the Balkans. Today, the region’s population is shrinking amongst fastest in the world. – 45% in Moldova by 2050. economist.com/europe/2020/08… https://t.co/2sFgglf85s
@cacrisalves @RebuildMacro @angusarmstrong8 @DanielaGabor @YannisDafermos Great work. Thanks for fixing. Much easier to use!
RT @NewStatesman: This week’s cover: The World after Covid-19, a special issue featuring @adam_tooze, @Elif_Safak, @davies_will, @He…
If a 15% rise in share of pop wearing masks cuts daily growth of COVID cases by c 1% & avoids a lockdown that would cost 5% GDP -> one American wearing a mask for a day prevents fall in GDP of GDP of $56.14 at cost of 50 cent cost for the mask. economist.com/finance-and-ec… https://t.co/fe9X7E5yDb
UK unemp currently low but it will soon have neither a furlough scheme nor generous unemp benefits. The replacement ratio is among lowest in @OECD -> Rise in unemp will not only hurt jobless, but also suck spending power from the economy. @DuncanWeldon economist.com/britain/2020/0… https://t.co/n8GqWcrZuj
By 2008 as a result of years of intervention to hold e.r. down, the balance sheet of China’s PBoC had swollen to 70% of GDP. Today it is down to 35%. Its reaction to 2020 shock has been very modest. If intervention happening it is off the books. economist.com/finance-and-ec… https://t.co/bQCsHq2zyW
RT @Ozkok_A: Tensions over the 12-mile question ran highest between the two countries in the early 1990s, when the Law of the Sea was going…
Vanguard, world’s 2nd largest asset manager, to exit Hong Kong (and Japan) and move to … Singapore? …Nope. Shanghai! Why? Because it needs scale of mainland market to drive its low-cost individual-centered fund management model. ft.com/content/ff2924… https://t.co/6WycPrfcNt
How high will UK unemp go once furloughs end? Optimists: In 1980s 5% fall in GDP -> unemp up 7% v. 2008 GDP down 6% v. unemp only 3 % up -> BofE: 2020 -5% GDP -> 3.5 unemp. BUT 2020-shock to labour-intensive sectors, corporates stressed, BREXIT. economist.com/britain/2020/0… https://t.co/WtUaQ0zULC
Gas & Libya: The Turkosceptic coalitions in the Eastern Med handily mapped by @TheEconomist The US, missing from the chart, is broadly aligned with the Eastern Med Gas Forum. economist.com/international/… https://t.co/OrQp06R6OR
“I’ve had members of my association claiming universal credit and they’re shocked by how low it is,” says a Tory mp. Another eye-catching 1st line from @TheEconomist @DuncanWeldon ? economist.com/britain/2020/0… https://t.co/nqttHYyyPX
I think @Brad_Setser has every right to be very proud of this fantastic chart of global trade imbalances! twitter.com/Brad_Setser/st…
RT @adam_tooze: Man mag das BVerG Urteil ablehnen, aber aus der Unabhängigkeit des EZB ein Totem zu machen, führt uns tiefer in die Sackgas…
RT @Brad_Setser: A stylized fact that should be better known* is China's surplus in manufactures in dollar terms is 2x what it was before t…
In the US, in 2020 banks have dramatically tightened lending standards. The Europeans banks did that too in 2008-9 but not this time. @ISABELNET_SA via @SoberLook https://t.co/en9w0sZayO
Nigeria’s population grows at 2.6% pa -> GDP per capita has been declining since 2014. @SoberLook thedailyshot.com/category/the-d… https://t.co/CfSURO8XK2
Whichever way you dice it, Peru looks to be suffering the worst COVID GDP shock and Brazil the shallowest of the major Lat Am countries. Via @SoberLook thedailyshot.com/category/the-d… https://t.co/pumoDzmlTM
"in early to mid-March, amid extreme volatility across the financial system, the functioning of Treasury and agency MBS markets became severely impaired” Lorie Logan Fed responded with daily purchases > $100bn. libertystreeteconomics.newyorkfed.org/2020/08/market… https://t.co/GCFLEnPpPm
In the US, in 2020 banks have dramatically tightened lending standards. The Europeans banks did that too in 2008-9 but not this time. @ISABELNET_SA via @SoberLook https://t.co/w5ArPL7Q0t
Foreclosures and bankruptcies have been throttled back, for now. But low-income borrowers’ past-due mortgages are at record levels. @MoodysAnalytics via @SoberLook https://t.co/MER2V1DMnn
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