In the Financial Times, Martin Wolf noted a few days ago that imbalances in international trade are back on the political agenda. Although Wolf reaches entirely reasonable conclusions regarding mercantilism, he nevertheless states that it is nonsense to claim that the US trade deficits can be eliminated solely through trade or exchange rate policy. He believes that this would “also require macroeconomic adjustments, in particular a reduction in the US public budget deficit, which the IMF forecasts at 7.5 per cent of GDP for 2026”.
EU politics
Bill Mitchell – The French Left should unite rather than consider supporting the Far Right Le Pen
The real challenge for the broader Left in France is not to help a repugnant Right-wing candidate gain office. Rather, it is to unite. Read Here
Geopolitics
AP: Trump’s sanctions on ICC prosecutor have halted tribunal’s work
The International Criminal Court ’s chief prosecutor has lost access to his email, and his bank accounts have been frozen. The Hague-based court’s American staffers have been told that if they travel to the U.S. […]
Geopolitics
Peter Hanseler – Historical Consciousness: What Germany Could Learn from Russia
There are sound reasons why Germany is on the wrong track. A lack of historical consciousness, or rather a false one, is one of the main reasons , and one that is reluctantly discussed in […]
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