Sharks are eating the whales - Mint Magazine Sharks are eating the whales – The Mint MagazineThe Mint Magazine Published by Promoting Economic PluralismAlexander Kozul-Wright
The UK’s new minimum wage ‘badly needed’ but many calling for more - Al Jazeera The UK’s new minimum wage ‘badly needed’ but many calling for moreUK’s new legal minimum wage gets a 9.8 percent rise, the highest boost since 2001. But with inflation, it’s not enough.Al JazeeraAlexander Kozul-Wright
First 100 days: Milei falters on shock therapy for Argentina's economy First 100 days: Milei falters on shock therapy for Argentina’s economyMilei is struggling to overcome hostile lawmakers to enact his radical austerity agenda even as social tensions rise.Al JazeeraAlexander Kozul-Wright
As Putin eyes sure reelection, Russia’s economy defies sanctions, critics - Al Jazeera As Putin eyes sure reelection, Russia’s economy defies sanctions, criticsRussian president’s all but guaranteed fifth term in power comes as economy has outperformed expectations.Al JazeeraAlexander Kozul-Wright
Ravenous – Henry Dimbleby, Profile Books (2023) Occasionally, economists come up with good ideas. A ‘policy trilemma’ states that, at any given time, governments can only achieve two of three competing goals. Owing to mutual exclusivity, one of the sovereign’s aims must be dropped. The UK is currently facing a policy trilemma – to make food cheaply
Year of the Dragon: China faces critical moment in push to revive economy - Al Jazeera Year of the Dragon: China faces critical moment in push to revive economyAnalysts say Beijing needs to roll out measures to stimulate greater domestic consumption amid slowing growth.Al JazeeraAlexander Kozul-Wright
The Invention of Nature, Andrea Wulf, John Murray Publishers (2015) As its name suggests, The Invention of Nature is a puzzling book. Nature isn’t invented, it just is. Not quite, according to Andrea Wulf. She contends that the idea of nature was conceived by the pre-eminent Prussian polymath Alexander Von Humboldt (1769-1859). Though obsessed with scientific measurement, Humboldt bolted
In Pakistan, old hopefuls jostle to turn around struggling economy - Al Jazeera In Pakistan, old hopefuls jostle to turn around struggling economyNew gov’t will have to deal with soaring inflation, increasing poverty, low forex reserves and weakening infrastructure.Al JazeeraAlexander Kozul-Wright
Oil prices steady despite Middle East tensions, but risks are rising - Al Jazeera Oil prices steady despite Middle East tensions, but risks are risingDespite diverting supplies from the Suez Canal, tensions in the Red Sea have so far had a muted impact on energy prices.Al JazeeraAlexander Kozul-Wright
The global economy in 2024: Key clues to watch out for - Al Jazeera The global economy in 2024: Key clues to watch out forUS interest rates, oil prices and the Chinese economy will determine the global economy next year.Al JazeeraAlexander Kozul-Wright
The Politics of Time - Mint Magazine Time of your life – The Mint MagazineThe Mint Magazine From Promoting Economic PluralismAlexander Kozul-Wright
Lula faces numerous challenges as Brazil assumes G20 presidency - Al Jazeera Lula faces numerous challenges as Brazil assumes G20 presidencyLula also takes over at a time of bitter internal divisions in the group, legacy of outgoing president Narendra Modi.Al JazeeraAlexander Kozul-Wright
Argentina's economy foundering on eve of general election - Al Jazeera Argentina’s economy foundering on eve of general electionWinner between Sérgio Massa and Javier Milei will have to deal with debt mountain, soaring inflation, worsening poverty.Al JazeeraAlexander Kozul-Wright
In the US, higher interest rates are forcing people to cut back - Al Jazeera In the US, higher interest rates are forcing people to cut backAmericans are feeling pinch of high interest rates, forcing them to hold off purchases of homes, cars, even groceries.Al JazeeraAlexander Kozul-Wright
Automation and the Future of Work - Aaron Benavav, Verso Books (2020) & The AI Economy - Roger Bootle, John Murray Press (2019) These books review a singular feature of modern economies – workers are competing with ever more advanced machines. Both authors also question the idea that technological unemployment can be addressed by a Universal Basic Income (UBI). The advent of Chat GPT sparked a media frenzy around two inter-related questions – does artificial
Is the US interest rate tightening cycle finally over? Al Jazeera Is the US interest rate tightening cycle finally over?Even as US Fed raised its interest rates again on Wednesday, analysts are split if there will be another hike this year.Al JazeeraAlexander Kozul-Wright
Global shipping regulator underwhelms with new emissions targets - Al Jazeera Global shipping regulator underwhelms with new emissions targetsNew targets are to roll back emissions of freight ships that burn through millions of tonnes of dirty bunker fuel.Al JazeeraAlexander Kozul-Wright
Nauru prepares to mine deep sea in big climate controversy - Al Jazeera Nauru prepares to mine deep seas in big climate controversyNauru sees rare earth metals as key to the green transition. But mining them could threaten vital marine ecosystems.Al JazeeraAlexander Kozul-Wright
Wilding – Isabella Tree, Picador (2018) & Regenesis – George Monbiot, Penguin Random House (2022) At their core, these two books reach a similarly stark conclusion. Our diets, and the farming practices which enable them, need a dramatic make-over. Both authors set out their own transformative visions for ecologically sustainable food production. Wilding, by Isabella Tree, describes a pioneering project to rewild a 3500-acre manor
War in Ukraine – Medea Benjamin & Nicolas Davies, OR Books (2022) Benjamin and Davies’ concise book offers an analysis of the war’s historical backdrop. In turn, it questions the prevailing Western narrative that Russia’s invasion of Ukraine is little more than a conflict between liberal democracy and Vladimir Putin. The authors start by outlining the “frozen and unresolved” nature
Universal Journalist – David Randall, Pluto Press (2021) A ‘how-to’ guide for journalism, this book covers topics from handling quotes to online research. The book’s author, David Randall (former assistant editor of The Observer), chronicles the 'universals' of good journalistic practice and outlines the pitfalls of inaccurate reporting and rushed judgement. It’s an engaging
G20 finance heads face reform calls from Global South - Al Jazeera G20 finance heads face reform calls from Global SouthFinance ministers and central bank governors are meeting at the IMF to discuss challenges facing global economy.Al JazeeraAlexander Kozul-Wright
A salmon tax: could Norway’s plan share the benefits of the seas? The Guardian A salmon tax: could Norway’s plan show the way to share the benefits of the seas?Oslo wants to raise taxes on its aquaculture industry, which could provide a model for how to better manage the marine environmentThe GuardianAlexander Kozul-Wright
Cuba's new parliament will face a familiar economic hangover - Al Jazeera Cuba’s new parliament will face a familiar economic hangoverSlammed by sanctions, the pandemic, and high inflation, Havana is making piecemeal reforms which may not be enough.Al JazeeraAl Jazeera
Black Sea grain initiative: Russia reluctantly agrees to a two-month extension - IPS Black Sea Grain Initiative: Russia Reluctantly Agrees to ExtensionThe Black Sea Grain Initiative (BSGI) has been extended for two months, although there is fear that Russia may not agree to another extension.Inter Press ServiceArmed Conflicts
UN falls short of aid pledge to Yemen despite peace efforts - IPS UN Falls Short of Aid Pledge to Yemen Despite Peace EffortsAt a high-level UN event, global donors pledged US$1.2 billion in aid operations to Yemen in 2023. Millions of Yemenis require humanitarian assistance.Inter Press ServiceAid
Tight fiscal leash awaits winner of Nigeria presidential election - Al Jazeera Tight fiscal leash awaits winner of Nigeria presidential electionAhead of the election, Africa’s largest economy is in a precarious position due to rising debt and low revenue.Al JazeeraAl Jazeera
Year of war in Ukraine left developing nations picking up pieces - Al Jazeera Year of war in Ukraine left developing nations picking up piecesSome of the harshest economic effects of the war are being felt much farther afield than Russia’s theatre of battle.Al JazeeraAl Jazeera
Ghana's long road to a debt solution - African Business Ghana’s long road to a debt solution - African BusinessThe road out of Ghana’s economic crisis will be rocky, with an IMF-backed restructuring plan likely to be complemented by harsh austerity measures.African BusinessAlexander Kozul-Wright
Brazil's third-time president Lula has new economic problems - Al Jazeera Brazil’s third-time president Lula has new economic problemsUnlike Lula’s first two terms in office, the current economic outlook is gloomy with high inflation and interest rates.Al JazeeraAl Jazeera
This time is indifferent - IPS UNCTAD: This Time is Indifferent - IDN-InDepthNews | Analysis That MattersIDN-InDepthNews is flagship agency of the global International Press Syndicate Group speaking out for people, planet and peace.Analysis That MattersUN Bureau
Development banks should reform their lending practices - IPS Development Banks Should Reform Their Lending PracticesIn the last week of September, emerging market (EM) bond fund outflows hit $4.2 billion, according to JP Morgan, bringing this year’s total to a record $70 billion. The exodus, set off by a rising U.S. dollar, is heaping pressure on
If Lula wins in Brazil, he will face harsh economic headwinds - Open Democracy If progressive Lula wins in Brazil, this is what he facesLula would enter office with a progressive agenda. Will he be able to repeat the successes of his last presidency?openDemocracyAlexander Kozul-Wright
Book Review: The blue commons - Mint Magazine Guy Standing: The Blue Commons: Rescuing the Economy of the Sea - The Mint MagazineIn response to severe ocean stress, UN secretary-general, António Guterres, recently called on international organisations to nurture the “global commons for our greater good”. But renowned economist and Emeritus Professor at the University of London, Guy
Radical Moves - Mint Magazine Radical moves - The Mint MagazineCould a sway to the left in South America be the start of a new Latin step? Alexander Kozul-Wright looks at the partners.The Mint MagazineArdavan
Taking back the ocean inc - Project Syndicate Taking Back the Ocean, Inc. | by Alexander Kozul-Wright - Project SyndicateAlexander Kozul-Wright accuses the United Nations of perpetuating policies that are destroying Earth’s largest biosphere.Project SyndicateAlexander Kozul-Wright
Columbia's new president may need U.S blessing to realise his domestic agenda - IPS Colombia’s New President May Need U.S. Blessing to Realize his Domestic AgendaThe writer is a Geneva-based researcher for the Third World NetworkInter Press ServiceArmed Conflicts
Cornered Tunisian president faces ticking clock - ANND Cornered Tunisian president faces ticking clockA little over a decade since protests in the town of Sidi Bouzid sparked the Arab Spring movement, events of the past month have undermined Tunisia’s claim
Omicron and developing countries. Where threats are the greatest - IPS Omicron & Developing Countries – Where Threats are the GreatestOn 25 November, news emerged from South Africa of a new COVID-19 variant. It has since been identified as Omicron, a Greek alphabet derivation the World Health Organization (WHO) reserves for virus variants “of concern”. For now, scientists are still racing to
Oil and water testing G20's faith in private creditors - TWN Oil and water: Testing the G20’s faith in private creditors
Hesitancy to share vaccine intellectual property will increase inequality - Oxford Analytica Hesitancy to share vaccine IP will increase inequalityOver 100 nations back a waiver of IP rights for COVID-19 treatments, but a wealthy minority strongly oppose itOxford Analytica Daily Brief
The G7 is edging closer to a new round of SDRs - Oxford Analytica https://buckchuckwood.files.wordpress.com/2021/02/oxford-analytica-the-g7-is-edging-closer-to-a-new-round-of-sdrs.pdf
A full public debt restructuring overhaul is unlikely - Oxford Analytica https://buckchuckwood.files.wordpress.com/2021/01/oxford-analytica-a-full-public-debt-restructuring-overhaul-is-unlikely.pdf
European lockdowns cast cloud over Swiss economy Data released earlier this week showed that Swiss industrial growth slowed in October. Switzerland’s manufacturing PMI (Purchasing Manager’s Index), a reliable indicator of economic activity, fell from 53.1 in September to 52.3 last month. Anything above 50 indicates growth, on a monthly basis. A similar dip
China’s resilient economy shakes off Hong Kong crisis China’s latest survey data, released earlier this week, showed a pick-up in economic activity in June, boosting Asian equity markets the same day that Beijing passed sweeping new security laws on Hong Kong. While China’s political manoeuvre was roundly decried by Western governments, its recent economic recovery has
Lebanese pound hits record low amid economic crisis Lebanon’s Parliament speaker, Nabih Berri, urged the government to call a “financial state of emergency” yesterday, as the Lebanese pound fell to a record low this week. An extreme dollar shortage has eroded the value of the currency, driving up the price of imports and wiping out household savings.
G20 oil alliance won’t turn the tide [delayed] Last week, energy ministers from the G20 engaged in a rare display of international cooperation by agreeing to reduce oil supply in an ambitious attempt to raise prices. The deal comes amid a sharp contraction in global economic activity triggered by the coronavirus, which has halved oil prices since the
Emerging markets fear ‘Roaring Twenties’ As Argentina’s debt restructuring talks enter their eleventh hour, there is a growing expectation that today’s deadline will be extended. The government and its creditors are inching towards a deal to reprofile roughly US$65 billion in sovereign debt that the country cannot afford to repay. President Fernandez’
Sudan's central bank makes u-turn on gold exports [delayed] In a bid to shore up the government’s limited fiscal resources, the Central Bank of Sudan recently awarded private gold merchants’ greater autonomy to sell to overseas markets. Until last month, Sudan’s Central Bank was the only formal channel for miners to export the precious metal. On January
China concedes ground to US over rare earth metals [delayed] As part of continued efforts to resolve its long-running trade conflict with the United States, China recently raised its production quota of rare earth metals to a record 132,000 tonnes. Additionally, customs data published in January showed that China’s exports of rare earth magnets to the US increased
DRC mining reform may come back to bite Big Tech [delayed] Late last month, the Democratic Republic of Congo (DRC) outlined a plan to assume monopoly control of the country’s artisanal cobalt sector. A newly created state-owned company, Enterprise Generale du Cobalt (EGC), will be given standalone rights to purchase the metal from the informal mining industry. Combined with sulphur,
Opec+ expected to deepen cuts in response to coronavirus [delayed] Oil prices have nosedived since the outbreak of the coronavirus, with Brent crude down 25 per cent since the start of January. The outbreak of Covid-19 has almost certainly pitched China’s economy into contractionary territory, disrupting everything from manufacturing supply chains to property construction. The grim economic outlook was
There will be blood [delayed] The sharp contraction in global economic activity prompted by Covid-19 has sent oil prices into a tailspin. Brent crude, already on the backfoot since the outbreak of the coronavirus, suffered an additional leg-down this month when two of the world’s biggest producing nations – Russia and Saudi Arabia – set the
External debt crisis should not be overlooked in Sudan’s struggle for power As thousands camp outside Sudan’s makeshift military headquarters in Khartoum, there is genuine hope of a civilian transfer of power in Africa’s third largest country. After years of suppressive military rule and a decline in oil revenues following South Sudan’s secession in 2011, Omar al-Bashir was ousted
Canary in the cobalt mine Washington makes overtures to Beijing in Republic of Congo Though details of the Republic of Congo’s (ROCs) restructuring deal with China remain undisclosed, they’ve crucially been approved by the International Monetary Fund. A deal was struck on April 29thand “represents a decisive step to restore debt sustainability”, according
Bond holders skittish of Kirchner return With elections just over six months away, the release of Cristina Fernandez de Kirchner’s autobiography, Sincerely, has sent Argentinian bond yields soaring. But why has the suggestion of a Fernandez presidency spooked the bondholder community? Ms Fernandez, who oversaw the country from 2007 to 2015, has not yet declared
Challenge of our age (or one of them at least) “Sustainable debt for sustainable development”, cooed Christine Lagarde at Tuesday’s Paris Forum meeting, which brought together dozens of ministers of finance and central bank governors. Winston Churchill’s famous quip about Russia, “it is a riddle wrapped in a mystery inside an enigma” could just as readily be applied
Michael Lewis: leading author or toothbrush salesman? Michael Lewis is out with a new podcast series entitled Against the Rules. In it, he looks at examples of contemporary American life in which refereeing and arbitration, designed to make games fairer and more balanced, are coming under growing strain. More and more, it seems Americans want the rules
It’s the Economy Cupid China has recently drawn fiscal bows from its policy quiver Over the past few weeks, articles have spawned and multiplied about efforts to stimulate the Chinese economy through fiscal policy, see China Targets Stimulus. But few of these articles have examined how officials are attempting to breathe life into businesses
The Price is Right – China and the Balkans The political economy zeitgeist appears to be giving off static noise. On the one hand we’re told China is seeking to expand its influence through Belt and Road, on the other it is turning its attention inwards to focus on domestic consumption. Perhaps China’s political elite, ever the