Economics

Discussions on global and national economies, trade policies, financial markets, economic development, and issues such as poverty and inequality.

Inside the Vision of Global Capitalism

December 18, 2023
There are various approaches to the journey of humanity, from the Age of Discovery, Industrial Revolutions, Enlightenment, Renaissance and Reformation Movements, the French Revolution, to the emergence of nation-states, leading swiftly to the present day. There are authors who remind us of Colonialism, Imperialism, and the Middle Ages from a contemporary perspective. Above all, each day, even every second, is immensely valuable for a world inhabited by 8 billion people!
35 mins read
108 views
cop21 mexican president pena nieto

After COP21: Mexico In-Between Energy Security and Climate Change Mitigation

January 12, 2016
Climate change is perhaps one of the thorniest economic and social problems of our time. This is not unrelated to the fact that in many countries, the forms of energy that power economic growth are those with the highest concentrations of carbon –oil and coal. It has been argued that it only takes three economies – the United States, China and India – to produce more than 40% of all global greenhouse gas emissions [1]. After the recent UN Paris Climate Change Conference (COP21) nonetheless, energy policies have quickly become priority issues in many developing countries’ agendas for a number
4 mins read
1.2K views
chuquicamata chile mining

Cyclical Failure – Economic Crisis and Commodities in Latin America

December 16, 2015
Despite a great deal of discussion on the information economy in recent years, (much of it useful and much of it overhyped,) the actual world economy’s health is still reliant on raw materials, which is expressed in their prices. While in parts of the developed world the recent fall in commodity prices has been referred to as the equivalent of a tax break, in countries that are heavily dependent on commodity exports, calamity is a better reference point. The primary issue here is dependence. Many developed nations also produce raw materials in great quantities, but their economies are comparatively diverse.
4 mins read
901 views
Chinese economic trouble

Moves to a Service-Based Economy is Likely China’s Catch-22

November 10, 2015
The achievements of President Xi Jinping’s short duration in Britain are the first steps of what China hopes to be the path to becoming a fully-developed country. Proclaimed a “golden era” in relations between the two nations by Prime Minister David Cameron, China views Britain as a “great platform from which China can go global,” according to head of Chatham House’s Robin Niblett. Indeed, as China seeks to shift its economy from an export-based to a service-based economy and to propel the yuan into an internationally-traded currency that could potentially rival the dollar, yen, and Euro, access to Britain’s financial markets
4 mins read
951 views

The Precariat – When Insecurity Dominates

July 21, 2015
Only one in four people in the work force worldwide have a secure job with a permanent contract. The remaining three-quarters are employed “on temporary or short-term contracts, working informally without contract, self-employed, or in unpaid family jobs,” according to the International Labour Organisation (ILO). As a graduate student, finding this out has done nothing to allay fears of becoming gainfully employed after graduating, although quite frankly, and perhaps more depressingly, the findings are not exactly surprising. The post-crisis era has seen a marginal recovery in some economies, but job creation is slow and the actual jobs being created are
4 mins read
700 views

The Business of Death

June 1, 2015
The Chinese life insurance market has grown exponentially since the start of the millennium. Now the fifth largest life insurance market globally, sales have risen from 98 billion yuan in 2000 to 994 billion yuan in the first half of 2014. What perhaps makes this feat more impressive is not only the speed at which the market has expanded, but also the success of being able to market such a product in a culture where discussing death used to be completely taboo. To understand what exactly happened here, we need to rewind the clock a bit, and add a little
3 mins read
913 views

Anger Across the Water: Parallel Trading in Hong Kong

The conflict between Mainland Chinese and Hong Kong people doesn’t seem to have an end in any sense. After the influential pro-democracy demonstration in Hong Kong, another protest against Mainland Chinese traders buying up goods to make a profit back home took place recently, and is still going on at the time of writing. Hundreds of Hong Kong residents have gathered to demonstrate against visitors from Mainland China. Hong Kong people are angry with these so-called “parallel traders,” who come to Hong Kong to stock up on lower-priced goods, including food items, luxury goods and electronics only to sell the
3 mins read
824 views

Wheels Falling off the WTO: Is it high time to write an obituary for multilateralism?

January 27, 2015
Multilateralism was believed to have returned from the grave, when delegates to the World Trade Organization (WTO) bragged of the Bali deal, the first fruit to be reaped out of the long-deadlocked multilateral trade negotiations in December 2013. The resurrection of the Doha round of international trade talks was indeed quite a surprise to those who already promulgated the end of multilateralism. Doha negotiations, initiated in 2001, were suffocated owing to the conflict of interest among WTO members in intractable issues such as agricultural subsidies, intellectual property rights and trade in services. They also experienced the collapse of talks in
3 mins read
823 views

All That Glitters Is Not Gold

January 27, 2015
China’s fundamentals may not be as strong as you’ve been told. Place your bets, ladies and gentlemen. The fix is in: China will be the next superpower. We’ve been told the economic projections all assure it, but do they? The same projections were made for the Eastern bloc in the 1960s, Japan in the 1980s, and the Asian Tigers in the 1990s. In each of those decades the conventional wisdom, particularly in the United States, whipped policymakers into a frenzy over the implications of dizzying growth numbers. And yet to varying degrees, history has proven the conventional wisdom wrong. Just
4 mins read
872 views