The deal, reportedly worth $882.35 million, highlights a point I tried to make with the New York Times a while back. As the internationalization of the renminbi unfolds, not only will China presumably be able to increasingly circumvent economic sanctions … Continue Reading
US Sanctions on China’s Banks are Few and Far Between, for a Reason
The US administration has called for global action in response to North Korea’s first ICBM launched July 3. The call comes less than a week after the US Treasury Department targeted two Chinese citizens and a shipping company for helping … Continue Reading
Happy Birthday America! (and why the World’s First Brexit is still good for the UK)
In London today, celebrating the (quite revolutionary) Brexit of 1776. And the UK-US relationship is, whatever the global strains, stronger than ever. That said, on a purely bilateral basis, the new Administration could have gripes. According to the US Census bureau, … Continue Reading
EU reports 10% rise in trade barriers
According to a new EU report, European exporters encountered a 10% increase in the number of trade barriers in 2016 alone. The EU’s press release for the study notes: “The Trade and Investment Barriers Reports are published annually since the beginning of the … Continue Reading
EU, Japan, Close to Inking Bilateral Trade Agreement
The Reuters story is here. Although the US withdrawal from TPP might have given these talks greater urgency, the agreement still remains limited in scope and participation. Instead, its significance lies in the strategic and political resonance to, in … Continue Reading
Happy Birthday Canada!
150 years young and your economy is strong! Plus, hiring is up, and expectations above their historical levels. Now if you can only navigate those (growing) NAFTA issues…!
Stricter oversight of Chinese investments in technology possible
The New York Times is updating a report relating to the Pentagon’s concerns relating to the flow of Chinese investment into start-ups working on important technology like artificial intelligence, robotics and augmented reality. According to yesterday’s report: “White House officials … Continue Reading
Wall Street wants more regulation–when it comes to exchanges
Yesterday, the House Committee on Financial Services discussed equity market structure (basically how stock markets allow trades on their platforms). Brokers weren’t happy, Marketwatch reports. Jeff Brown, a senior vice president of Charles Swab noted yesterday in his testimony: “rather … Continue Reading
Yellen expects no new financial crisis in ‘our lifetimes’ (10 quick scenarios why that’s overly optimistic)
Interesting comments by the Fed Chair. But upon (20 seconds of) reflection, one can identify any of the following as a potential source of systemic financial risk in the next 24 months, not to mention our lifetimes: The collapse of … Continue Reading
UK to Maintain Free Trade with Poorest Countries after Brexit
The UK will maintain a zero tariff policy on imports from 48 developing countries after Brexit. Besides comprising a forward looking and humane approach to international economic relations, the announcement is another reminder that the politics of nationalism in Great Britain … Continue Reading