In The News

Age of Clashing Empires: New Statesman

Mark Leonard April 13, 2020
Analysts are less certain that nations bound by trade might find it impossible to head to war. The US-China trade war and Britain’s embrace of Brexit signaled that decoupling was already underway. Then, the COVID-19 pandemic applied sudden brakes and exposed weaknesses. “Britain will be exiting into a totally different world, one defined by competing blocs and protectionism rather than...

Life Under the Algorithm: New Republic

Gabriel Winant December 21, 2019
Productivity fuels economic growth and wealth, and management increasingly relies on technologies to motivate workers to achieve greater speed. Yet wages do not grow at the same pace, and top company officers and investors collect most of the gains. “The decline of unions, the rise of inequality, the crisis of liberal democracy, and the changing face of American culture all, in one form or...

Wrecking the WTO: Times of India

Nayan Chanda December 18, 2019
US President Donald Trump seeks partners in his push to rebalance global trade, reduce global agreements with environmental and other constraints, and build US influence based on power rather than cooperative alliances. He views the UK’s Boris Johnson as a likeminded leader, after an overwhelming victory in parliamentary elections all but ensures Britain’s speedy exit from the European Union....

Argentina Faces Economic Crisis: Buenos Aires Times

December 13, 2019
Alberto Fernández, sworn in as president of Argentina, inherits enormous debt, recession, inflation, a 10 percent unemployment rate and 40 percent poverty rate, reports the Buenos Aires Times. The peso has lost two thirds of its value since 2018. The many challenges compound the hardship in paying external debt. Fernández promises to increase economic growth but offers no details, partly because...

¥13 Trillion Stimulus Plan in Japan: Japan Times

December 4, 2019
Governments with heavy debt loads are hooked on stimulus and low interest rates. Japan, the world’s third largest national economy, has national debt worth more than 230 percent of its GDP. The Japan Times reports that government officials could add more debt by finalizing plans for a ¥13 trillion stimulus package. The government hopes to take advantage of negative interest rates from the country...

Global Minimum Corporate Tax Rate: Financial Times

Chris Giles November 10, 2019
Multinationals can sell products and services in more than 200 nations, and many, especially big technology firms, shift profits across borders to minimize tax bills. The Organization for Economic Co-operation and Development, which represents democracies, is reviewing global tax policies: one recommendation would allow countries to tax operations even if the companies have no physical presence,...

Facebook’s Libra: Project Syndicate

Katharina Pistor June 24, 2019
Corporations are increasingly eager to resume control over traditional government responsibilities. The latest example: Facebook released a white paper on plans to develop a borderless cryptocurrency system with a group of central banks, regulators and 27 partner companies. Facebook along with Uber, Lyft, Visa, PayPal, Mastercard, eBay, and other firms – but not commercial banks – are...