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”.
Climate Crisis
Larry Elliot: Climate change will make the next global crash the worst
The storm clouds are gathering, but the world’s economies now have far fewer shelters from disaster than they did in 1929 Read here
Finance
David Beer: The power of our social media data
David Beer looks at various apsects of the Cambridge Analytica scandal and considers some solutions to the problems posed by social media. Read here
Geopolitics
Hilal Cibik – The Gaza Crisis Reveals the Need to Reform International Institutions
The United Nations obviously is not functional, but who is actually going to deliver the reforms to the UN that it desperately needs, when the Security Council holds a veto? In ‘Common Dreams’. Read the […]
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