News and Analysis: 02-16 Nov 2016 | EmergingFrontierMarkets.com

Based in: Manila, Philippines

Posted on Wed, 16 Nov 2016:

Trump aims to ease Asian allies' qualms when he meets Japan's Abe, Reuters, 16 Nov 16:
A Trump adviser said he expected the meeting to "set the tone" for Trump's relations with Japan and the region. "I expect he is going to reaffirm the US commitment to being in the Pacific long-term.". Finessing differences on free trade will likely be tougher given Trump's opposition to the TPP

Joseph Stiglitz: What America's economy needs from Trump, Project Syndicate, 16 Nov 16 [via Korea Herald]:
Trump's astonishing victory in the US election has made one thing abundantly clear: Too many Americans - esp. white male Americans - feel left behind. It is not just a feeling; it can be seen in the data no less clearly than in their anger, writes 2001 Nobel Laureate

Olivier Blanchard: In light of the elections - Recession, expansion, and inequality, Peterson Inst (blog), 14 Nov 16:
Will the econ program of Pres-elect Trump lead to a recession or to an expansion? Before the election, many predicted a recession. But last week, markets clearly predicted an expansion. Who is right?, asks Inst senior fellow / fmr IMF chief economist

Posted on Mon, 14 Nov 2016:

How Pres Trump can make trade policy more inclusive, and more fair, Ctr Global Devt (blog), by K Elliott, 14 Nov 16:
The US economy is 44 times larger than that of the average nation with which it has a free trade pact. And it is more than 200 times larger than half of them. US trade negotiators have always had the edge in setting the terms of these pacts, writes Ctr senior fellow

Trans-Pacific Partnership nations' leaders to review options with Obama, Straits Times/ S'pore, 14 Nov 16 [via Nation/ Thai]:
Leaders of the 12 countries that signed the TPP will meet on the sidelines of an Asia-Pacific summit in Peru this week to discuss a way forward for the free trade deal in the wake of the US election

The path to growth and development -- diversification or specialization?, Brookings (blog), by D Bahar, 04 Nov 16:
International trade has created incentives for countries to specialize instead of diversify. Yet, data shows a strong positive correlation between a country's income level and the diversification of its export basket, writes Inst fellow

Posted on Fri, 11 Nov 2016:

John Cochrane: Don't believe the economic pessimists, WSJ, 06 Nov 16 [via PressReader/Canada]:
No matter who wins the pres'l election, now ought to be the time that policy makers in Washington come together to tackle America's greatest econ problem: sclerotic growth, writes Hoover Inst senior fellow [NB: Linked page works with Firefox]

US opposition to AIIB 'strategic mistake', says senior Trump adviser, South China Morning Post, 10 Nov 16:
A top adviser to US pres-elect Trump has lashed out at the Obama admin's opposition to China's economic diplomacy, esp. the decision to stay away from the Beijing-based Asian Infrastructure Investment Bank

Can India's currency ban really curb the black economy?, BBC News, 10 Nov 16:
On Tue night, 08 Nov, in an unusual broadcast to the nation, Indian PM Modi scrapped 1,000 and 500 rupee notes in a bid to flush out tax evaders. The banknotes that were declared illegal tender represent more than 86% of cash in circulation in India

Posted on Wed, 07 Nov 2016:

Trump wins – What now?, Univ Pennsylvania, 09 Nov 16:
The larger story of why what was once called the "blue wall" of Rust Belt states like Ohio and Pennsylvania crumbled is about globalization. He won on the strength of rural, white voters who say they are concerned about their jobs disappearing overseas and sick of the political status quo

President Trump and international development, Ctr Global Devt (blog), by R Mirchandani, 09 Nov 16:
Pres-elect Trump campaigned on a promise to "make America great again." Development may not be high on his agenda, but he will come into office at a time when Americans are more dependent than ever on the global economy, writes Ctr vice pres for policy outreach

4 things to know about Donald Trump's new economic team, CBS News, 05 Aug 16:
Trump, who has made no secret of his disdain for over-priced policy experts, opted for a team dominated by real estate developers and Wall Street bankers and investors whom he apparently does not consider part of the mafia of Wall Street "fat cats" (Trump adds 8 women to his economic team)

Posted on Mon, 07 Nov 2016:

Advice for the next US president, Univ Chicago, 26 Oct 16:
Fifteen of America's prominent thinkers offer their ideas on the nation's most pressing problems. All advice was received before the outcome of the election was decided. Our goal was to collect advice to the office of the pres, rather than to any particular occupant

Kenneth Rogoff: Big danger at the lower bound, Project Syndicate, 03 Nov 16 [via MercoPress/Uruguay]:
The two best ideas for dealing with the zero bound on interest rates seem off-limits for the moment. If they sound dangerously radical, well, radical is relative, writes author of The Curse of Cash (2016) {eBooks | Alibris}

Why the Industrial Revolution didn't happen in China, Washington Post (blog), by A Swanson, 28 Oct 16:
To economic historians like Northwestern Univ's Joel Mokyr, author of A Culture of Growth: The origins of the modern economy (2016), there's nothing inevitable about the incredible wealth and health of the modern world {eBooks | Alibris}

Posted on Fri, 04 Nov 2016:

Are certain countries doomed to remain emerging?, Brookings, by J Page, 05 Oct 16:
Advocates of globalization can point to the convergence of incomes in industrial and developing countries and the decline in global poverty that it has fostered as happy outcomes. Like most happy stories, however, the reality is more complicated, writes Inst senior fellow

How should we measure economic progress?, WashPost, by R Samuelson, 26 Oct 16:
Economists have known that the use of per capita income is misleading, because it omits many other factors that determine living standards. Two Stanford economists - Jones and Klenow - have devised a single number that supposedly reflects a country's overall welfare

Charting the US role in the world economy, RAND, by H Shatz, 21 June 16:
The strength of the US economy supports its international power, making the next admin's econ choices among its most crucial. Although the US faces many choices, this focuses on policy choices in the areas of maintaining and improving the rules-based global econ system, writes Corp senior economist

Posted on Wed, 02 Nov 2016:

A welcoming home - The enduring legacy of Robert and Enid Fogel, Univ Chicago, Oct '16:
"Enid and I knew we were flying in the face of convention," said Fogel, 1993 Nobel Laureate. "NY (where Fogel was raised, attended school, and met his wife) still had a lot of racial segregation when we got married," said co-author of Time on the Cross: The economics of American Negro slavery (1974) {BetterWorldBooks}

Jeffrey Sachs: Lessons from the North, Project Syndicate, 21 Apr 16 [PDF, via Open Society Forum/Mongolia]:
Fewer econ debates would be needed if the world spent more time examining what actually works or not. Almost everywhere, debate has raged about how to combine market forces and social security, writes author of The Age of Sustainable Development (2015) {eBooks | Alibris}

Six are shortlisted for a leading 'business book of the year ' award, 800CEOread, 07 Sep 16:
The shortlist was just announced for the 2016 Financial Times and McKinsey Business Book of the Year Award. Included are books by Iris Bohnet, Duncan Clark, Rana Foroohar, Robert Gordon, Gratton and Scott, and Sebastian Mallaby (Longlist)

EmergingFrontierMarkets.com

emerging and frontier markets:

the unofficial field guide