Showing 91 - 100 of 521
Donald Trump's tariffs will surely backfire
Oped, Takatoshi Ito, Published on 21/12/2024
» US president-elect Donald Trump appears committed to imposing high tariffs on imports to the United States -- or, at least, using the threat of tariffs to bend US trading partners to his will. Mr Trump now says he will enact a 25% tariff on all imports from Canada and Mexico on his first day in office and raise tariffs on goods from China by 10%. And he has previously advocated 60–100% tariffs on imports from China and 10–20% tariffs on imports from all other countries.
Elon Musk and his US$2 trillion fiscal fantasy
News, Jeffrey Frankel, Published on 27/11/2024
» When the US presidential election was called for Donald Trump, the yield on ten-year US government bonds increased from 4.3% to 4.4%, and the 30-year-bond yield rose from 4.5% to 4.6%, with both remaining at those levels ten days later. As the bond market declined -- higher yields mean lower prices -- the stock market rose. Clearly, investors expect the next Trump administration to produce higher government budget deficits and more debt.
Climate action must rise above political fray
News, Nadia Calviño, Published on 18/11/2024
» This year's United Nations Climate Change Conference (COP29) in Baku is taking place against a tumultuous geopolitical backdrop. In addition to shifting strategic alliances, trade tensions, and violent conflict, the "year of elections" has ushered in a period of heated political rhetoric and led to changes of government.
Once again, it was the economy, stupid
Oped, Mohamed A El-Erian, Published on 15/11/2024
» 'It's the economy, stupid!" This famous mantra, coined by the political strategist James Carville, helped Bill Clinton unseat President George H W Bush in 1992, and now it explains another election. The economy played a critical role in the 2024 presidential race, creating the conditions not only for Donald Trump to trounce Kamala Harris, and for the Republicans to gain control of the Senate and the House of Representatives, but possibly also for a counter-elite to usher in a new power structure.
Monetary policy really needs to tighten in Japan
Oped, Koichi Hamada, Published on 12/11/2024
» Last month, returning to Japan for the first time since the Covid-19 pandemic, I was struck by how significantly prices had increased. In February 2020, a simple lunch in downtown Tokyo cost about JP¥1,000, then the equivalent of about $10 (324 baht); today, it costs more like JP¥2,000. To some extent, this mirrors the experience in the US, where, even as inflation moderates, prices remain well above their pre-pandemic levels. The difference is that Japan has also experienced a sharp currency depreciation, which benefits foreign visitors: that JP¥2,000 bill translated to just $13.
Finance for a sustainable future
News, Jordan Schwartz, Published on 07/11/2024
» Whenever the world's financial and political leaders convene -- whether at the G20 summit, the United Nations General Assembly, or the International Monetary Fund and World Bank annual meetings -- the most urgent development challenges are nearly always on the agenda. Increasingly, the solution these leaders propose to such problems, from poverty alleviation and public-health crises to climate change and the energy transition, is more financing.
Financial flexibility key to growth
News, Konchawan Kanthasut and Thanthip Srisuwannake, Published on 06/11/2024
» Trade associations in Thailand are stuck with a frustrating rule -- they can only keep their income in savings accounts. This limits their ability to make smarter investments that could grow their funds. Without a change in the law, they will keep missing opportunities to increase resources and offer more value to their members.
Strengthening vulnerable coastlines
Oped, Karen Sack, Published on 05/11/2024
» Roughly 40% of the world's population inhabits coastal areas. In addition to being home to 12 of the world's 15 largest cities, these regions serve as an essential lifeline for countless small villages and towns. With around 80% of international trade passing through seaports, coastal regions also play an outsize economic role, accounting for 60-70% of global GDP.
Moving towards a fifth world order
Oped, Gordon Brown & Mohamed A El-Erian, Published on 26/10/2024
» The Bretton Woods institutions -- the International Monetary Fund and the World Bank -- are now 80 years old. But they are as under-resourced and poorly supported by national governments as at any time in their history. Their predicament is perhaps the clearest sign that economic and financial multilateralism is fragmenting along with the global economy. Worse, this fragmentation comes at a time of rising international tensions, financial fragility, sputtering growth, rising poverty, and mounting reconstruction bills in Gaza, Lebanon, Ukraine, and elsewhere.