Expanding the Legacy
Tag: Economy
43 Posts
Free Trade in Retreat
The EU free trade baton, carried by the UK until Brexit materialised, has been relayed to the ‘Stockholm Six’ of likeminded liberal countries pushing back against French and Italian pressure for Europe to get tougher on trade defence – and relax on subsidies. Germany was invited to join the informal...
Oops, I Did It Again
Argentina has defaulted on its public debt – again. The country is familiar with the script that follows and unlikely to be intimidated by upset creditors. In fact, Argentina is seen blazing a trail for others grappling with debt loads that have become unsustainable after the corona pandemic unhinged economies,...
Dawn of a Kingdom Reformed?
There are changes afoot in the kingdom. They may well reshape the country to beyond recognition. For the first time in its history, women are invited to play an active role in the nation’s economy. Abuses of power for personal gain are no longer tolerated. Crown Prince Mohammed bin Salman...
Role and Impact of Venture Capital Exposed
Size matters. Two of Europe’s largest new tech firms, Spotify and Zalando, boast a combined market value of some $42 billion – a pittance in today’s world of behemoths. To put things in perspective: China’s Alibaba is worth north of $480 billion whilst the market cap of Facebook hovers around $550 billion. Apple and Amazon are close to the $1 trillion mark.
Mexico Finance Minister Carlos Urzúa: Safe Choice
Mexican Finance minister Carlos Urzúa is not impressed, or indeed intimidated, by the recent surprise change in the outlook of the country’s sovereign credit rating from stable to negative: “This does not constitute a downgrade. The move should therefore be taken with a pinch of salt.”
Paulo Guedes: Time for Resolve
Brazil’s all-powerful economy minister Paulo Guedes (69) looks south for inspiration. He has long mulled a Pinochet-style approach to economic management. Mr Guedes is determined to introduce a set of contemporary monetarist policies similar to those that, he says, saved Chile from bankruptcy some forty-odd years ago after a disastrous flirt with socialism – not quite unlike Brazil’s own dalliance with leftist policies.
President Bolsonaro Seeks Early Victory
In Brazil, spending on pensions absorbs fully one third of federal tax revenue. For close to forty years, successive presidents have promised, and failed, to reform the country’s complex pension system which, it is often noted, combines welfare state generosity with pioneer market funding and represents a resilient leftover from the corporatist development model pursued from the late 1960s to the mid-1990s.
Ambitious Morocco Determined to Bridge Two Worlds
In November, the first high-speed railway line of Africa entered into service, linking Tangier and Casablanca via the country’s capital Rabat. Over the entire 350-kilometre stretch, the ‘Al Boraq’ (named after a mythical winged creature) slashes journey times by more than half to barely two hours between its two termini.
Returning to Accelerated Growth
Home to half of the world’s fastest-growing economies, most of Africa is already now living its long-promised bright future. After a few lean years brought about by the end of the commodities super cycle, most of the continent’s top performers have pushed through the structural reforms needed to ensure the...
Keys to Lasting Success
Home to some of the world’s largest and most iconic companies, Switzerland is a source of corporate excellence – and has been so for well over a century. Thanks to the country’s much-cherished and long-standing neutrality – which made the Swiss reluctant to join any multi- or supranational organisation, Switzerland...
