Showing 1 - 4 of 4
Central banks can't solve all woes
News, Satyajit Das, Published on 25/02/2019
» In the short time since December 2018, central banks have collectively injected as much as US$500 billion (15.6 trillion baht) of liquidity to stabilise economic conditions. The US Federal Reserve has put interest rate increases on hold and is contemplating a halt to its balance-sheet reduction plan. Other central banks have taken similar actions, fuelling a new phase of the "everything bubble" as markets careen from December's indiscriminate selling to January's indiscriminate buying.
Is an emerging-market crisis near?
News, Satyajit Das, Published on 05/09/2018
» Emerging-market stresses have been building since at least 2013. Investors may have forgotten the effect of the "taper tantrum" on the so-called Fragile Five -- Brazil, India, Indonesia, Turkey and South Africa -- a term coined by Morgan Stanley to describe their vulnerability to capital outflows. Monetary accommodation, lower current-account deficits and growth disguised the underlying challenges, attracting more capital to those markets.
No such thing as the fourth industrial revolution
News, Satyajit Das, Published on 30/11/2016
» The theme of the 2016 World Economic Forum (WEF) in Davos was the "Fourth Industrial Revolution". Professor Klaus Schwab, WEF's founder, has even published a hasty, crowd-sourced book. He warns that the scale, speed and impact of new technologies, focused on artificial intelligence, robotics, the Internet of Things, autonomous vehicles, 3D printing, blockchains and biotechnology, are "so profound" that in history "there has never been a time of greater promise or potential peril".
There is no simple solution to the looming downturn
News, Satyajit Das, Published on 16/06/2016
» A growing number of economists seem convinced that the US, EU and China are all headed for a prolonged period of sluggish growth -- secular stagnation, in the words of former US Treasury Secretary Larry Summers. A close parallel would seem to be 1990s Japan. There, too, the bursting of debt-funded asset price bubbles gave way to multiple rounds of fiscal stimulus, massive monetary easing and rock-bottom interest rates. Rescue efforts stabilised conditions but couldn't spark a sustainable recovery, leaving the economy mired in low growth, low inflation and high debt.