As Fortress Russia crumbles, the global economy faces a new world order

Dario Perkins, managing director of global macro at TS Lombard, says: “We always thought this splintering of the global economy into different trade blocs – the US, Asia and Europe in the middle – was going to happen but we’ve... Read more

Who will save the world economy?

Gordon Brown’s infamous slip of the tongue gave the House of Commons a rare moment of laughter in the depths of the financial crisis. Overstating his case, the then-Prime Minister claimed in December 2008 to have “saved the world”, before... Read more

Britain to suffer weakest growth in G7 as Sunak’s tax raid bites

Paul Dales, an expert at Capital Economics, said: “There is going to be a drag on economic activity relative to if National Insurance wasn’t raised. “The Chancellor seems to be putting the emphasis on trying to reduce borrowing and putting... Read more

The monetary props of the global asset boom are rapidly crumbling

It is a fiscal agent, like the Banca d’Italia in the 1970s. Its de facto mandate is to keep insolvent Club Med states afloat and to mask the full extent of France’s deteriorating public debt profile. This ensures a dovish... Read more

Give us seized Russian money to rebuild Ukraine, says central bank chief

Shevchenko’s job as the central bank chief, a role he has held since 2020, has gone well beyond the usual fiddling with interest rates and regulating the finance industry. He says his main task in wartime is to “maintain financial... Read more

Let us rebuild using Russia’s frozen assets, Ukraine’s bank chief tells West

Shevchenko’s job as the central bank chief, a role he has held since 2020, has gone well beyond the usual fiddling with interest rates and regulating the finance industry. He says his main task in wartime is to “maintain financial... Read more

China risks collapsing the world economy as its zero Covid strategy falls apart

There are a variety of theories about why this is. The most plausible explanation is that vaccines, especially those based on mRNA, were perceived to have side effects and the risks weren’t worth running if the authorities were true to... Read more

How sanctions are crippling the economy of ‘Fortress Russia’

Russians will soon begin to feel the squeeze from sanctions on shop shelves and in prices as countless businesses boycott the country. Apple, the world’s most valuable company, and Microsoft have both suspended sales of their products in the country... Read more

Joe Biden’s solutions are only creating more problems in the US

Biden’s American Rescue Plan – which the President touted throughout his speech as part of the solution to current economic pain – has pumped an additional $1.9 trillion into the real economy, adding to the inflationary pressures that were already... Read more

EU launches trade action against China despite German export fears

The European Commission said China has retaliated with trade restrictions, which “include a refusal to clear Lithuanian goods through customs, rejection of import applications from Lithuania, and pressuring EU companies operating out of other EU member states to remove Lithuanian... Read more

Britain cannot turn a blind eye to Chinese economic imperialism as war threatens

Some Sri Lankan politicians have gone as far as to suggest China deliberately pushed their country into a debt trap in order to expand China’s sphere of influence. That’s not beyond the realms of possibility.  In 2018, the Sri Lankan... Read more

Putin threatens to light the fuse on overvalued stock markets

Logically, you would expect it to be the other way around – that the now well-established economic recovery would give renewed momentum to the bull market. But this ignores the distortions of the soaraway tech sector. Tech is widely seen... Read more

The eurozone’s trade deficit exposes its industrial decline

Within that, France is recording massive trade deficits, up to €9.7bn last month, the highest level on record, while the once mighty German trade surplus fell once again, with imports outpacing exports. No one would deny there are some special... Read more

Omicron becomes a blessing in disguise for Britain’s economic recovery

Boris Johnson may feel he has little choice when deciding whether to ditch Plan B. Just as persuasive as the extremely positive omicron data coming out of UK hospitals is a need for Johnson to placate furious Tory MPs after... Read more

Mario Draghi’s presidential bid spooks Italian investors

Bond markets are gearing up for a return to political turmoil in Rome after a key investor risk gauge hit its highest level in 16 months ahead of a crucial vote on Italy’s next president.  The difference between yields on... Read more

The ‘Putin doctrine’ is an economic catastrophe for Russia’s neighbours

Most of all that is of course a military, diplomatic, strategic and political issue. Western Europe, which should be standing up to Russian aggression, has allowed itself to become negligently dependent on its energy.  Germany, which refuses to spend any... Read more

Tough road ahead for Liz Truss with ‘Global Britain’ trade deals set to miss targets

The easy yards have already been made. But with a China deal politically fraught, and a lack of interest from the Biden administration pushing a prized transatlantic pact with the US into the long grass, it will be hard, probably... Read more

Risk of double dip recessions as inflation and Covid restrictions bite, World Bank warns

Ms Reinhart also warned that worries over heavily indebted companies and stock markets risk tying the hands of central banks in their bid to fight rising inflation, another building pressure on economies. Central banks are concerned the new variant could... Read more

UK economy to cast off omicron’s shadow and outpace rest of the G7

“The eurozone economy is probably going to be hit harder by omicron because already in the fourth quarter, before omicron, we saw restrictions in Europe due to the delta wave,” he said. “So I would say the total hit to... Read more

Europe’s pandemic recovery fund unravels as billions go to old projects

The EU’s flagship recovery stimulus scheme is misfiring, as Germany and Spain use its €725bn to pay for existing projects rather than new investment to drive the bloc’s post-pandemic economic revival. The bulk of grants allocated under the Recovery Fund... Read more

Omicron is a horrible dilemma for zero-Covid China

The Communist Party has proclaimed zero-Covid status to be a dazzling vindication of Xi Jinping’s rule, presenting the shambolic response of the West as the defining institutional and civilizational failure of our age.  “Zero-Covid has been their claim to superiority,... Read more

Forget being Singapore-on-Thames, we look more like Scunthorpe-on-Thames

Dr Cheang emphasises the fact that government spending in Singapore is less than 20pc of GDP. By contrast, the ratio frequently exceeds 40pc among OECD countries. It will be over 45pc in the UK this year. According to Dr Cheang,... Read more

Britain has much to learn from Singapore’s staggering economic success

Dr Cheang emphasises the fact that government spending in Singapore is less than 20pc of GDP. By contrast, the ratio frequently exceeds 40pc among OECD countries. It will be over 45pc in the UK this year. According to Dr Cheang,... Read more

UK economy to outpace rest of G7 as OECD warns on China’s zero-Covid policy

Despite a downgrade by the club of rich nations to its projection next year from 5.2pc to 4.7pc, the UK will still lead the G7 pack. However, the OECD called on the Bank of England to act against “clear signs... Read more

A benign omicron may be the answer to our economic prayers

It is almost too good to believe. The days go by and there is still little evidence that the omicron wave in South Africa is leading to a concomitant surge in severe illness.  Professor Francois Balloux, director of the UCL... Read more