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New York Times (March 29)

2020/ 03/ 30 by jd in Global News

The Covid-19 crisis has awakened “a sleeping giant” in China. “How the ruling Communist Party manages the coming months will help shape how hundreds of millions of young people see its authoritarian political bargain for decades to come.” The “generational awakening… could match the defining effects of World War II” and it “could disrupt the social stability on which the Communist Party depends.”


Forbes (March 22)

2020/ 03/ 22 by jd in Global News

“The most unique aspect to this market crisis is the sheer speed of the decline. The S&P 500 has dropped 30% in a month, in the crisis of 2008 a 30% drop from the market’s high took almost a year. If 2008’s decline was a Toyota Camry, this decline is a Ferrari.”


Wall Street Journal (March 18)

2020/ 03/ 20 by jd in Global News

“The coronavirus pandemic is devastating global travel, causing business to evaporate and forcing companies to slash payroll in what’s shaping up to be the biggest test the modern travel industry has ever faced.” Travel bans today’s other issues are different from the financial crisis. They “can’t be overcome with cheaper fares or clever marketing.” Moreover, “the crisis could permanently reshape attitudes toward travel, fundamentally changing the landscape for hotels, airlines and cruise companies, and the millions of smaller businesses that make up the industry.”


New York Times (September 27)

2019/ 09/ 29 by jd in Global News

“The only solace in the current American standoff with Iran is that President Trump seems not to want to risk a war. That is of some comfort in a crisis that has left the United States looking weak and untrustworthy. But the crisis could still descend into armed conflict, and that is largely attributable to Mr. Trump’s poorly considered strategy.”


Financial Times (September 13)

2019/ 09/ 15 by jd in Global News

Mario Draghi and the ECB have done their part, but “Germany will wait until it is too late before providing a measurable fiscal stimulus.” This is the optimal “time for Europe to invest in its future,” with low inflation, zero cost of borrowing and fiscal surpluses. “German leaders know this,” but fear alarming “the good burghers of Munich, Hamburg and Frankfurt. Were recession to provoke a full-blown euro-zone crisis, Berlin would of course act…. But do not expect Germany to dispatch the fire brigade before the flames have fully taken hold. What a waste.”


Wall Street Journal (September 5)

2019/ 09/ 07 by jd in Global News

“A decade after fueling a crisis that nearly brought down the global financial system, America’s banks are ruling it. They earned 62% of global investment-banking fees last year, up from 53% in 2011.” In 2018, “U.S. banks took home $7 of every $10 in merger fees, $6 of every $10 in stock commissions, and $6 of every $10 paid to hold and move corporate cash.”


South China Morning Post (August 14)

2019/ 08/ 15 by jd in Global News

“The crisis in Hong Kong appears to be careening towards a devastating climax.” But China “must pick the least bad option to resolve Hong Kong crisis” and that’s not a PLA crackdown. The PLA would be treated “as invaders, and resistance would be fierce and casualties unavoidable.” Furthermore, “an exodus of expats and elites would follow, and the Hong Kong economy – still a bridge between China the rest of the world – would almost immediately collapse.”


New York Times (July 15)

2019/ 07/ 16 by jd in Global News

India’s water crisis offers a striking reminder of how climate change is rapidly morphing into a climate emergency. Piped water has run dry in Chennai…and 21 other Indian cities are also facing the specter of ‘Day Zero,’ when municipal water sources are unable to meet demand.” The Prime Minister “has promised piped water for all Indians by 2024,” but that goal will never be met unless the government also focuses on harnessing “powerful natural water systems that worked in the past…. Mr. Modi’s government’s focus on huge projects is flawed because moving water works only if there is water to move.”


The Economist (July 13)

2019/ 07/ 15 by jd in Global News

Matteo Salvini has in effect “been the most powerful man in Italy since shortly after he became a deputy prime minister in June last year.” His domestic rise has been “relentless,” though it is not connected “to pre-eminence by solving or showing how he might solve any of Italy’s obvious malaises.” Even more worryingly, Mr. Salvini has a very antagonistic relationship with the EU and he could very well instigate a new crisis, willingly or otherwise. “The troubling fact for Europe is that no one knows what this meteor that has flashed across Italy’s skies will do next.”


South China Morning Post (June 20)

2019/ 06/ 23 by jd in Global News

The trade war between the U.S. and China “is pushing the world economy closer to the edge. The longer it goes on, the harder it will be to undo the damage,” which clearly already is being inflicted. “Compared to pre-2008 crisis levels, world economic growth has plummeted by half and is at risk of a long-term, hard-to-reverse stagnation. Returning to global integration and multilateral reconciliation could dramatically change the scenario.”


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