News and Analysis: 02-16 July 2017 | EmergingFrontierMarkets.com

Based in: Manila, Philippines

Posted on Sun, 16 July 2017:

Barry Eichengreen: Asia's unhappy anniversary, Project Syndicate, 16 July 17 [via New Times/Rwanda]:
This month marks the 20th anniversary of the Asian financial crisis. Now, China is at the same point as its Southeast Asian neighbors 20 years ago. Is China repeating the same mistakes that led to the Asian financial crisis?, asks U Calif-Berkeley economist

India's economy will stay ahead of China's for nearly another decade - Harvard study, Quartz, 10 July 17:
The econ pole of global growth has moved over the past few years from China to India, where it is likely to stay over the coming decade, acc to researchers at the Ctr Intl Devt (New growth projections predict China's further slowdown, continued rise of India)

Coffers: Tackling the 'nastiest, hardest problem in finance', Bloomberg, by B Ritholtz, 06 June 17:
Consider some of the most challenging problems in finance: do zero interest rates spur inflation or damp it; are stocks cheap or overpriced? Challenging as those may appear, none compare to what 1990 Nobel Laureate William Sharpe calls "decumulation"

Posted on Thu, 13 July 2017:

A new network for open economies and inclusive societies, OECD Observer, by N van Hulst, 09 June 17:
A group of 19 nations, incl emerging economies, announced the formation of a new network. The aim is to take forward the momentum to advance a well-functioning, open and fairly balanced global economy, writes Dutch ambassador to OECD (Media release--Network launch)

A strong carbon price needed to drive large-scale climate action – 13 leading economists, High-Level Comm Carbon Prices, 29 May:
Meeting the world's agreed climate goals in the most cost-effective way while fostering growth requires nations to set a strong carbon price, acc. to a commission led by Nobel Laureate Stiglitz and Lord Stern

New book examines dynamics of developing countries' economic growth, Intl Food Policy Res Inst (blog), 11 May 17:
We examine how 7 nations fared in their development quest. These are Brazil, India, Viet Nam and 4 from Africa (Botswana, Ghana, Nigeria, and Zambia), write economists from Tufts Univ; Harvard; and World Bank

Posted on Tue, 11 July 2017:

The rebirth of the Trans-Pacific Partnership, Project Syndicate, by K Hamada, 04 July 17 [via Taipei Times]:
There are two distinct approaches to achieving freer trade. First, there is the global model embodied by the WTO. And the second approach is via bilateral agreements, writes Yale U emeritus prof; and a special adviser to Japan PM Abe

Global value chains (GVC) shed new light on trade, Brookings (blog), by D Dollar, 10 July 17:
Conventional measures of trade measure the "gross value" of transactions between partners. The GVC phenomenon has prompted researchers to develop statistics and analysis based on the "value added in trade", writes fmr US Treasury's econ/fin emissary to China

The European Commission is struggling to demonstrate 'value for money', New Europe, by Baruch and Ling, 26 June 17:
Parliaments across Europe are increasingly scrutinizing funds marked for aid and devt. The UK Intl Devt secy ended funding for a 5-member Ethiopian girl band that aims to promote women's rights in developing nations, write Rand Europe analyst; and evaluation head

Posted on Sun, 09 July 2017:

G20 shut Trump out on climate, strike deal on trade, AP, 09 July 17:
World powers lined up against US Pres Trump on climate change, reaffirming their support for international efforts to fight global warming. On trade, the talks preserved the G20′s condemnation of protectionism

Don't count out coal yet, US News & World Report, by M Perry, 05 July 17:
While coal is in retreat in the US, it remains the world's mainstay for electricity generation. The very technologies we should be investing in to help reduce emissions in China and India could well be the technologies that ensure energy security here at home, writes U Michigan economist

Are immigrants taking farm jobs from US citizens? In North Carolina, farmers say no, News & Observer, 07 July 17:
Every April, about 30 immigrants board a bus in Mexico and travel nearly 2,000 miles to a farm in NC, where they harvest roughly 600,000 pounds of tobacco. It's an agreement that can help everyone involved

Posted on Thu, 06 July 2017:

EU, Japan leaders hail free-trade pact in riposte to Trump, Bloomberg, 06 July 17:
European Union and Japanese leaders endorsed a preliminary free-trade agreement, as they step up cooperation and champion open markets with unease mounting over Trump's "America First" policy

What we can expect from the Hamburg G20 Summit, Think Tanks 20/ Germany, by Leggewie and Messner, 05 July 17:
The two historic agreements of 2015 – the Paris Agreement and the 2030 Agenda for Sustainable Devt – need to be pursued with vigor if they are not to be cast aside by avowed unilateralists, write German Advisory Council Global Change member; and German Devt Inst dir

Dani Rodrik: The G20's misguided globalism, Project Syndicate, 06 July 17 [courtesy iuscomex/Brazil]:
The G20 has its origins in two ideas, one relevant, the other false. The relevant idea is that developing / emerging economies have become too significant to be excluded from discussions about global governance, writes Harvard economist

Posted on Tue, 04 July 2017:

Trump's trade plan sets up global clash over "America First" strategy, Politico, 30 June 17:
The Trump admin is quietly preparing trade restrictions on steel imports to defend the US steel industry, a move that could incite other countries to retaliate (US push for hefty steel import duties draws tit-for-tat threats)

Martin Feldstein: Does addressing bilateral trade imbalances work?, Project Syndicate, 27 June 17 [courtesy Harvard]:
Politicians and economists view trade imbalances very differently. Economists emphasize that the total US trade deficit with the rest of the world is the result of policies and actions at home, writes Pres Reagan’s Council Econ Advisers chair

Are colonial-era borders drawn by Europeans holding Africa back?, Amer Econ Assn News, 13 July 16:
European powers divided up most of the continent in a flurry of diplomatic agreements and colonial wars now known as the “Scramble for Africa”. Did the arbitrary colonial divisions set the newly independent African nations on a path to turmoil?

Posted on Sun, 02 July 2017:

Jeffrey Sachs: Tax reform that works for all, Boston Globe, 27 June 17 [courtesy Columbia U]:
Liberals object to a value-added tax because they say it's regressive, but its overall effect can be progressive when it finances spending on health, education and job training, writes Columbia U Ctr Sustainable Devt dir

Coffers: Robert Shiller--In long run, there's no such thing as an Einstein investor, NYT, 28 June 17:
It is tempting to replicate a successful strategy - one created by an outstanding investor, like Warren Buffett, or through in-depth statistical analysis of the wisdom of crowds. There are no easy answers in investing, writes 2013 Nobel Laureate

Why do nations continue to fail? – Q&A with MIT’s Daron Acemoglu, Allianz’s Project M/Germany, 09 May 17:
The co-author of Why Nations Fail focuses on mankind's biggest challenges. Q--How can nations foster econ growth for all in these times of change?; China is on the verge of becoming a new global leader. How do you view its growth potential?

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