Finance

‘Sadness will last forever’: Living with the Van Gogh legacy

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As he lay on his death bed, having apparently shot himself, Vincent Van Gogh is said to have uttered the final words, “The sadness will last… Patrick Wood ABC It’s hard to imagine a bleaker prophecy from the famed and deeply troubled Dutch… And yet, more than 125 years later, the Van Gogh family can attest to a fulfilling life that is, in part, devoted to honouring his work and… ‘Sadness will last… Read More »

Eureka! the price is right

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Asia Times had one excited economist this week as a deeper delve into the first-quarter growth data threw up some intriguing… STEVE WANG Asia Times Anyone fortunate enough to have shared an office with a follower of the dismal science will know that when a eureka moment strikes, the… “I’d like to thank my mom, my first grade math teacher, professor Ma … ad… Eureka! the price… Read More »

China factories put weight behind forecast-busting 6.9% GDP

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Economic growth accelerates in first quarter as signs emerge of recovery taking broader… STEVE WANG and BEN RICHARDSON Asia Times China’s economic growth accelerated for the second straight quarter, beating expectations as a robust performance by the nation’s manufacturers weighed in… Growth in the secondary sector of the economy — manufacturing and… China factories put… Read More »

US government ‘hacked global bank system’

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A huge range of security exploits, said to be worth over $2m if sold on the black market, have been leaked… Dave Lee  BBC The tools are said to have been created by the US National Security Agency (NSA), and accompanying documents appear to indicate a possible breach of the… Such a hack could have enabled the US to covertly monitor financial transactions, researchers… US government ‘hacked… Read More »

Does Greece Need More Official Debt Relief? If So, How Much?

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Creditor countries and international organizations continue to disagree whether Greece should receive additional official debt relief, and… Jeromin Zettelmeyer (PIIE), Eike Kreplin (German Federal Ministry for Economic Affairs and Energy) and Ugo Panizza (Graduate Institute, Geneva) This paper first shows that these disagreements can be attributed to competing assumptions about Greece’s future capacity to repay, particularly about… It next evaluates the plausibility of… Does Greece Need… Read More »

Explainer: how wage growth contributes to the economy

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The Fair Work Commission is considering whether to increase Australia’s minimum wage. The Australian Council of Trade Unions is arguing for a A$45-a-week… Graham White  The Converstation Industry, arguing that currently business has limited ability to afford wages increases, wants the increase capped at 1.5% (closer to… While I suspect most people immediately focus on wages as a… Explainer: how wage… Read More »

Anti-graft body investigating China’s chief insurance regulator

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Xiang Junbo, head of the China Insurance Regulatory Commission and a member of the central bank’s monetary policy committee, is suspected of ‘serious disciplinary violations’, a… Reuters Asia Times The head of China’s insurance regulator is being investigated for… China’s top leaders have pledged this year to… Anti-graft body… Read More »

Crude oil jumps, yen gains, stocks slide as US attacks Syria

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Bonds and other so-called safe haven assets gained in Asia trading ASIA TIMES AND REUTERS Asia Times Oil prices jumped and the yen gained against the US dollar in Asia on Friday after the United States fired multiple cruise missiles at… Brent crude futures, the international benchmark for oil, jumped by… US President Donald Trump said he had ordered missile… Crude oil jumps… Read More »

Israel, European States advance plans for world’s longest underwater gas pipeline

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The proposed 2,000 kilometer (subsea pipeline would connect gas fields offshore Israel and Cyprus with Greece and possibly… SHARON UDASIN TheJPost Aiming to transform the Eastern Mediterranean into a regional energy hub, Israeli and European officials signed a joint declaration on Monday to promote construction of the world’s longest subsea natural-gas… Israel, European States… Read More »

DEPA sees natural gas role for Greece exiting from the crisis

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Interview with Greek natural gas company DEPA CEO Theodoros… By New Europe Greece’s Public Gas Corporation DEPA is the company that introduced natural gas to Greece implementing a… Following the EastMed energy roundtable in Brussels on March 28, DEPA CEO Theodoros Kitsakos spoke to New… DEPA sees natural… Read More »

Jeb Bush warns robots taking US jobs is not science fiction

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Former Florida Gov. Jeb Bush said Sunday that people “should be marching in the streets” to demand changes to “antiquated” education systems that… DANIEL CHAITIN Washington Examiner “The looming challenge of automation and artificial intelligence and the rapid advancement of technology brings great benefits but also creates huge challenges,” Bush… The threat of a… Jeb Bush warns… Read More »

China’s yuan a long way from challenging almighty dollar

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IMF’s renminbi disclosure shows currency has only small impact on global foreign-exchange… TOM BUERKLE Asia Times When Deng Xiaoping set China on the course of market-oriented reform nearly 40 years ago, he called his pragmatic and incremental approach “stepping on stones to cross the… The Chinese currency’s much-ballyhooed entry into global finance has landed on a… China’s yuan a… Read More »

Oettinger tells EU27 to expect to cough up after Brexit

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European Budget Commissioner Günther Oettinger said European countries would have to pitch in at least half of the United Kingdom’s share in the EU budget after… LAURENS CERULUS Politico “I could imagine that we try to economize a part and that the remaining 27 member countries agree upon how to contribute the remaining amount,” he said, according to… Oettinger tells EU27… Read More »

Serious Tax Reform Will Come to DC This Year

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Congress has backed itself into a… Grover G. Norquist The National Interest Substantive tax reform will pass in… Its outlines are clear and the details are… Keep in mind that the tax-reform package will be passed through the reconciliation process, which requires that changes not increase the deficit in years eleven to… Anything goes in the… Serious Tax Reform… Read More »

The Demise of the Anatolian Tiger

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Turkey’s Struggling Economy Turkey’s economy is suffering badly amid the country’s political… By Maximilian Popp Spiegel Investors have lost confidence, tourists are staying away and the lira is rapidly losing… President Erdogan hasn’t grasped the severity of the… Until recently, Haci Boydak was a… The Demise of… Read More »

The Trump Administration’s Potentially Constructive Objectives for NAFTA

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After a campaign in which presidential candidate Donald Trump(link is external) vilified the North America Free Trade Agreement (NAFTA) as one of the worst trade deals in history, the… Jeffrey J. Schott (PIIE) Photo Credit: REUTERS/Eric Thayer In a few areas, as expected, new US goals sharply deviate from past US practice and the provisions of the… These need clarification and… But in a draft letter… The Trump Administration’s… Read More »