Writing Worth Reading
Writing Worth Reading
Measuring the size of the global middle class is no easy matter. But here's an idea – count the number of cars in circulation and extrapolate from there. Doing so suggests much greater past and future growth than we've appreciated
"Will China experience a hard landing? Will a decline in commodity prices hit Latin America? Will the European Union’s sovereign-debt woes spread to neighbours such as Turkey?" Here's a theory suggesting the answer "yes"
Asian economies are showing pragmatic commitment to growth. By contrast, West's mix of ideology and vested interests almost looks like a commitment not to grow. Expect more global economic rebalancing. And political tension
CEO of Pimco on the volatile changes occuring to the global economy. "We can now consider the image of Western delegations heading to emerging countries to plead, cap in hand, for financial support, both direct and through the IMF"
Growth and development are different things. In the past couple of decades India has had plenty of growth, not nearly as much development. As in the rich world, inequality is rising and the poor are being left further behind
These two colossal entities share a curious alignment of goals, policies, even 'ideologies'. "Together, they are engaging in a bold experiment in consumer behavior modification, market economics, and environmental stewardship"
Terrific pull-together analysis of European and American economic strife, and a great read to boot. All the stories of protest and uncertainty are merging into one big story – the crisis of globalisation
"The closer you are to running an econometric model, the better you feel about the economy. Growth will stay on track. The more you go out and look around, and listen to your gut, the more worried you become. It feels bad, very bad"
Newly published speeches show Zhu Rongji to have been smart, forceful, sceptical when running China's economy a decade ago. His was the genius that kept the economy growing without overheating. Successors pale by comparison
Farmers in a market economy don't grow the most nutritious foods. They grow the ones that sell. So rising urban incomes can lead to worse rural malnutrition, as farmers switch over to producing meat for rich city folk. As in China
Essay (13-page PDF) arguing that China’s future economic dominance is more imminent and will be both greater and more varied than is currently supposed. Interesting points on relative decline of the US and how it may play out
Interesting piece from India's former finance minister. "India and China both need a renewed commitment to structural reform to sustain their economic growth. Cheap labor and monetary management will not do the trick on their own"
