In The News

Roads & Kingdoms: Shifting Current

Matthew Bremner August 8, 2017
The number of active Scottish fishermen has halved in the past half century, and the industry blames the European Union and ideals of free movement of labor and capital. Accordingly, “while 60 percent of Scotland’s population voted ‘Remain’ in last year’s Brexit referendum, more than 90 percent of its fishermen did the opposite,” reports Matthew Bremner. The EU treats the North Sea, like all...

The New York Times: North Korea Threatens Retaliation Over Sanctions, Hints at Possible Attack

Rick Gladstone August 7, 2017
The United Nations Security Council approved sanctions drafted by the United States and China against North Korea that could reduce the nation’s $3 billion in exports by $1 billion. “The resolution was a direct response to North Korea’s successful tests last month of two intercontinental ballistic missiles that for the first time demonstrated an ability to reach the United States mainland,”...

Council on Foreign Relations: US Cyber Diplomacy Requires More Than an Office

David P. Fidler August 7, 2017
US Secretary of State Rex Tillerson has moved the Office of the Coordinator for Cyber Issues, previously an office with a direct chain of command to the secretary of state, into the State Department’s Bureau of Economic and Business Affairs. The move may reflect administration-wide “marginalization of cyber issues in foreign policy,” writes David P. Fidler for the Council on Foreign Relations. “...

Global Finance: Trade Winds Shifting

Jonathan Gregson August 5, 2017
After years of stagnation, international trade growth is anticipated at 4 percent this year. “Many factors could explain what appears to be a secular decline in global trade: lower levels of business confidence and investment; demand cycles and their impact on commodity prices; the maturing of global value chains, which have in turn triggered structural changes in the composition of cross-border...

Project Syndicate: Explaining Global Recovery Amid Political Recession

Michael Spence August 4, 2017
A disconnect between political dysfunction and strong economies is disconcerting. Michael Spence, Nobel laureate in economics, suggests the global economy may not be reaching its full potential. “Leaders in Europe, as well as in a number of emerging economies, have now concluded that both the UK and the US are unpredictable and unreliable allies and trading partners,” explains Spence. “Asia, with...

FiveThirtyEight: US Ban on Travel to Cuba Might Actually Help Cuba’s Economy

Andrea Jones-Rooy August 4, 2017
In June, President Donald Trump enacted a series of policies indicating a tougher attitude toward the Communist government in Cuba, including Treasury Department audits of travelers to Cuba. Critics suggest such policies could harm the island nation’s economy. The financial reality is more complicated, argues Andrea Jones-Rooy for FiveThirtyEight. “Because the resorts are often financed by...

The Economist: Unintended Effects of Rules Aimed at Stopping Financial Crimes

August 3, 2017
As the old saying goes, everyone pays the cost of crime. Costs include direct losses and indirect regulations. The Economist explains that banks are “lending less and shedding customers” due to “strict new rules on capital and liquidity” and avoiding high-risk customers and sectors. Poorest nations are most affected. “Banks in Africa, eastern Europe, Latin America and the Caribbean have been...