Policymakers face obstacles in getting the economy back on track.
Our Emerging Markets (EMs) outlook table (click below on ‘View PDF’) summarizes the impact of elections in EMs over the next 12 months. Markets are ordered in accordance with the electoral calendar.… Read the rest
In Germany, the deadline for the required proportionality assessment on the ECB’s PSPP is approaching. In Brazil, a reform of the tax system could be on its way, which could include a new digital services tax.… Read the rest
In China, HSBC denied reports by Chinese official media accusing the bank of acting as an accomplice to the U.S. and lying about Huawei. In Spain, a nationwide lockdown is unlikely in the coming days despite the rising number of Covid-19 cases.… Read the rest
EU leaders will try to agree on the recovery fund. Localized lockdowns might be ahead in the Philippines. South Africa’sgovernment has extended the state of disaster. Poland’s president retains his post.… Read the rest
China has revealed its draft of a controversial national security law for Hong Kong. South Korea might be at the beginning of a second pandemic wave. In Germany, several local outbreaks have been identified over the past weeks.… Read the rest
Recessions are expensive. Output is permanently lost; and often potential growth is reduced too.
In an earlier Global Letter, 1 we reproduced path-breaking calculations made for the UK by the late Christopher Dow.… Read the rest
The basic science has long been known: but the planet is warming faster than expected.
COVID-19 is a sharp reminder of humankind’s fragility and its linkages with the natural world. Headlines understandably focus on its devastating human and economic consequences.… Read the rest
The EU’s recovery programme is a potential game changer for the economy and the single currency.
In his memoirs, European visionary and revered French diplomat Jean Monnet asserted that: “Europe will be forged in crises and will be the sum of the solutions to those crises”.… Read the rest
New confirmed cases of Covid-19 have brought back some lockdown restrictions to China’s capital. The UK will not ask for an extension of the transition period. Brazil’s senate is expected to vote on job suspension and salary reductions.… Read the rest
