Financial Times (June 8)
“Donald Trump’s gyrations on trade policy have not broken global financial markets just yet — but what is happening in Hong Kong shows they are feeling the strain.” For over a month, Hong Kong’s interest rates remained fixed at just above 0%, which is peculiar, “Its currency is pegged to the US dollar” so this presents a prime arbitrage opportunity, which is going untaken. “This little episode reveals a disturbing fragility. Markets may appear to be taking all of the Trumpian disruption in their stride, but when a dislocation of this sort persists for more than a month, it is a warning sign. Watch out for trouble ahead.”
Tags: 0%, Arbitrage, Broken, Currency, Dislocation, Dollar, Fragility, Global financial markets, Gyrations, Hong Kong, Interest rates, Peg, Strain, Trade policy, Trump, U.S.
Straits Times (July 15)
“Thailand’s decades-long manufacturing-driven economic model is broken.” The nation “has witnessed nearly 2,000 factory closures in the last year, upending its manufacturing sector that contributes nearly a quarter of its gross domestic product (GDP).” The main drivers appear to be “cheap imports from China and a slide in industrial competitiveness due to factors including rising energy prices and an ageing workforce.”
Tags: Ageing workforce, Broken, Cheap imports, China, Economic model, Energy prices, Factory closures, GDP, Industrial competitiveness, Manufacturing, Thailand
BBC (May 17)
“There’s now a 66% chance we will pass the 1.5C global warming threshold between now and 2027. The chances are rising due to emissions from human activities and a likely El Niño weather pattern.” This would not necessarily mean that “the Paris limit had been broken,” especially if the temperature falls back under the threshold in subsequent years. “Scientists say there is still time to restrict global warming by cutting emissions sharply.”
Tags: 1.5C, 2027, Broken, El Niño, Emissions, Global warming, Human activities, Paris limit, Scientists, Temperature, Threshold, Weather pattern
ABC News (December 18)
“Australia has sweltered through its hottest day on record as the ongoing heatwave starts to bite across parts of the country. The Bureau of Meteorology says the national average for yesterday was 40.9 degrees, eclipsing the previous record set just six years ago. But forecasters say the record could be broken again, with the heat set to intensify over the next two days.”
Tags: Australia, Broken, Forecasters, Heat, Heatwave, Hottest, Intensify, National average, Record, Sweltered
Chicago Tribune (December 3)
“The drama never ends for Argentina, land of failed expectations and the setting for a great Broadway musical. Next week, a new leading man steps into the role of president with a chance to fix the broken economy and set a positive example for South American democracy.”
Tags: Argentina, Broadway, Broken, Democracy, Drama, Economy, Expectations, Musical, President, South America
Bloomberg (January 19)
“The actions that the European Central Bank will finally announce this week won’t give the continent the boost it needs.” The EU still depends on a “broken” system of economic governance. “What’s remarkable is that Europe’s governments haven’t even begun to confront this larger issue.” It is unrealistic to think that the ECB can again save the day. “Not even Mario Draghi can save Europe now.”
Tags: Broken, ECB, EU, Governance, Governments, Mario Draghi
The Economist (May 10)
“Long in crisis, Thailand is close to the brink. Without compromises on both sides, it may well collapse.” Thailand has fallen hard. Not long ago, it was a “shining example” of democracy with its booming economy. Now “everything is broken.” The latest blow came when a court dismissed Prime Minister Yingluck Shinawatra and nine cabinet members in what is being viewed by many as a political intervention. The country remains split in two politically. “The irreconcilable differences between the two sides have swallowed up Thailand’s courts, its army and even the monarchy—and left Thailand at the abyss.”
Tags: Army, Brink, Broken, Cabinet, Collapse, Compromise, Courts, Crisis, Democracy, Economy, Monarchy, Politics, Prime minister, Thailand, Yingluck Shinawatra
