ADAM TOOZE

Dear friends, I don’t usually employ Chartbook newsletter for campaigning purposes. But then it is not usual for research centers, which I have been attached

Whilst Xi and Putin maneuver and Russian tactical nuclear weapons trundle towards Belarus, big Western money is flowing into defense stocks. As one private equity

The 20th anniversary of the disastrous invasion of Iraq by the US-UK coalition demands a reckoning. Cameron and I discussed the legacy of the war

This Sunday is looking like it will be a very stressful day for anyone involved in the financial markets. As I hit “publish” on this

The crisis at Credit Suisse this week was triggered by the global anxiety about banking stocks unleashed by the mini-wave of US bank failures. The

At the weekend the Treasury, Fed, FDIC stepped in to stop developing bank run getting any worse. Rob Armstrong at Unhedged has the list of

For a while we have been asking, as the Fed drives a global interest rate hike, what will bend and will break? The stress has

Adam Tooze Mar 9 What does it feel like to see a major war coming? Not to “sleepwalk” but to wake to the reality that

How is the path of globalization shifting? Ian Bremmer, Ngair Woods, Niall Ferguson and I debated this at Davos. I continued the train of thought

This Valentines day, Americans gifted each other in the order of 58 million pounds of chocolate, much of it wrapped in 36 million heart-shaped boxes.

It is clear that the Russian economy emerged from the first shock of the war and sanctions in 2022 far better than many expected. The

Source: FT Few things matter more for the world economy in 2023 than China’s fortunes. Not since the reform period began, have there been more

The upheaval rocking the Adani business empire is one of the dramatic global developments of the last week. I was delighted that The Wire saw

Following a panel at Davos on deglobalisation and a flurry of comment about polycrisis, I picked up those themes in my monthly column for the

In Ones and Tooze this week Cameron and I took on the question of tanks for Ukraine. It, if I am honest, a topic I’ve

The Adani conglomerate, the business group most closely associated with Modi’s India, is under serious attack in the stock market, following a damning report by

As 2023 begins, policy-makers around the world are still trying to figure out how to respond to the lurching acceleration of inflation that began in

Back in December last year, the collapse of FTX set off a train of thought, which was less about crypto than about the place of

In the last ten years, the familiar boundaries of the political debate on the US have been challenged by a convergence of arguments about racial

“In some periods they explain practically all major events, and in most periods they explain a great deal … But even greater than the causal

2022 ended with the West’s two major central banks somewhat out of step again. The Fed is slowing the pace of rate increases. Meanwhile hawks

After a year of political turmoil and financial embarrassment, Britain ends 2022 shaken. There is a new spate of talk about national decline. Once again

Vogue cover by Salvador Dali December 1946 Christmas trees are BIG business. Each year approximately 33 to 36 million Christmas trees are produced in North

If you travel to South Korea or Europe right now, the talk in international economic policy circles is all about one thing: America’s “giant” Inflation

On December 13 Ghana reached staff-level agreement on a $3 bn IMF credit package. In addition it is seeking to negotiate a 30 percent haircut

The ski business worldwide. Source: Vail Do you ski? As a matter of lifestyle and recreational distinction, it is a question up there with “do

What will bend, what will break? That is the question about the global financial system that I have been asking in this mini-series on Chartbook.

Occasionally you come across a statistical chart that casts a part of your personal history in a new light, data that places your inner life

A dictator’s embarrassment is generally a cause for celebration. But what if it also threatens a national tragedy and a bona fide global problem? Xi

A round up of reading and twitter threads I have fond useful to understand the stakes in the wave of protests around China triggered by

Adam Tooze Nov 26 Cryptonaughts. “History is filled with almosts. With those who almost adventured, who almost achieved, but ultimately, for them it proved to

Source: FT As the Fed drives interest rates upwards, the impact ripples through the world economy. For good reasons there has been a lot of

Occasionally a number you come across just stops you in your tracks. This one did last week. A RAND study dated to 2018/9 found that

If there is one financial market that could put in doubt the stability of the entire global financial system it is the $23 trillion US

In this precarious moment – in the fourth quarter of 2022, two years into the recovery from COVID – of all the forces driving towards