I recently attended a ‘karaoke competition’. As an occasional vocal exhibitionist, the competition struck me as incongruous – to say the least. Karaoke should never be ‘competitive’ and judgemental. 1,219 more words
Tags » Rebalancing
Third-quarter GDP growth came in at 6.9%, its slowest quarterly growth since the immediate aftermath of the 2008 global financial crisis.
The outcome was one tenth of a percentage point faster than forecast by private economists and in line with the government’s official target of “about 7%,” which Prime Minister Li Keqiang has fudged even more by saying slower growth is acceptable provided sufficient new jobs were being created — the subtext being that growth won’t be allowed to slow to the point where social stability is at risk. 438 more words
China’s biggest economic woe isn’t its stock market, the yuan’s value, or the size of its foreign reserves. It’s simply that Chinese companies are making way more stuff than anyone wants. 948 more words
From Michael Pettis’ OpEd in the Wall St Journal:
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History suggests that developing countries that have experienced growth “miracles” tend to develop risky financial systems and unstable national balance sheets.
My SPERI British Political Economy Brief on the relationship between public infrastructure investment and private sector activity.
This brief examines public spending on infrastructure investment in England and assesses its relationship with private sector business activity on a regional basis. 99 more words
Remember expansionary fiscal contraction? You don’t hear much about it today, but back in 2010 when George Osborne set out his austerity agenda, the theory underpinning it was that the private sector would expand to fill the gaps caused by public cutbacks. 109 more words