Barely had I blogged on the the observations of Prof. Bhagwati on whether the US was right to call for China to revalue the exchange rate here and on the opinion of Prof. Arvind Subramanian on this matter, came an interesting report from the Research folks at Standard Chartered Bank (I am not in a [...]
It did not strike me but it should have served as a warning sign when I read this 2-pager on Jim O’ Neill in the FT in the flight from Zurich to Dubai on January 16th. The possibility of the magazine cover curse on either Jim O’ Neill or his ‘creation’ – the BRIC acronym [...]
Argentine government goes for the Central Bank’s Reserves and Iceland’s voters would decide if the country should repay its debt or not. The fat lady has not even come to the stage, yet. Oh, I forgot. Didn’t Venezuela devalue its currency by 50%, just the other day?
Wall Street Journal carries an interview with Jim O’ Neill of Goldman Sachs on the BRIC resilience. The four BRIC countries collectivley contribute to 15% of global GDP, 5% more than what Goldman Sachs first predicted in 2002, for the end of the decade. More here.
Iin the PEW Annual Global Attitudes Survey, American President gets [...]
A balmy, sunny and breezy afternoon here on Tuesday, June 2nd here in Zurich. I went to pick up a take-away lunch from an Indian outlet in Barengasse 25. Picked up some rice, dhal (lentils) and palak paneer (spinach in cream), half Nan (half loaf of Indian bread) and a lassi. It cost a cool [...]
Professor Arvind Subramanian at Harvard wrote this piece a month ago. But, thanks to a visit to Prof. Dani Rodrik’s blog, I chanced upon this only today. I am not so sanguine about the absence of backlash against market-economics in the developing world. But, I must concede that the chance that he speask to more [...]
Jeff Rubin’s new book, ‘Why your world is about to get a whole lot smaller?” (blogged here at the Economix blog page of New York Times) sounds quite interesting and its central thesis is highly plausible. High oil prices can reverse globalization and it could hasten the return of manufacturing to North America and Britain, etc. [...]
I think they got this one dead right:
V Anantha-Nageswaran, the chief investment officer for Asia-Pacific at the private bank Julius Baer, is frank about what he thinks will happen to the world economy over the next year or two when he advises clients. He doesn’t know. [The full piece here]
Both Wall Street Journal and Financial Times have devoted a lot of attention to the cash for stakes deal that Rio Tinto offered to China Aluminum Company (Chinalco). The total deal size is estimated at USD19.5 billions. Some 7.2 billion of it is in convertible bonds. If the convertible bonds are exercised, then the stake would rise [...]
Bare Talk at Mint
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