Latest from Andrew Sheng
The reversal of globalisation is a major risk to global growth. If deals are not struck on Brexit and the trade war, steps such as competitive currency devaluation could lead to a 1930s-style recession.
The reversal of globalisation is a major risk to global growth. If deals are not struck on Brexit and the trade war, steps such as competitive currency devaluation could lead to a 1930s-style recession.
The free market is a bad idea that probably belongs in the rubbish bin of history. A system where human beings and mother nature have been reduced to cogs and commodities has brought only misery, and climate change.
The free market is a bad idea that probably belongs in the rubbish bin of history. A system where human beings and mother nature have been reduced to cogs and commodities has brought only misery, and climate change.
Climate change and human inequality are the urgent problems political and business leaders should be focusing on. With male leaders ineffectual, and worse, the rise of women offers some hope.
Climate change and human inequality are the urgent problems political and business leaders should be focusing on. With male leaders ineffectual, and worse, the rise of women offers some hope.
The US leader’s erratic behaviour in fact illustrates some of the principles of quantum physics that more accurately describe the physical world and human behaviour. When old rules don’t apply, new thinking is required.
The US leader’s erratic behaviour in fact illustrates some of the principles of quantum physics that more accurately describe the physical world and human behaviour. When old rules don’t apply, new thinking is required.
The ongoing decline in institutional trust is caused by the capture of the state by business interests. What’s less clear is the solution.
The ongoing decline in institutional trust is caused by the capture of the state by business interests. What’s less clear is the solution.
The world has bigger problems than trade or national security threats. Instead of spending on defence against each other or leaving it to the free market, countries should step up and deal with climate change.
The world has bigger problems than trade or national security threats. Instead of spending on defence against each other or leaving it to the free market, countries should step up and deal with climate change.
US-China relations are unlikely to recover, even with the forthcoming Trump-Xi meeting. The US is turning inward, and the rest of the world has to find a way forward in this new political order.
US-China relations are unlikely to recover, even with the forthcoming Trump-Xi meeting. The US is turning inward, and the rest of the world has to find a way forward in this new political order.
Election gains by the Democrats and the predictable Trump tweets show that America is fundamentally divided over values, and the fear and anger that drive the rise of the right will continue to propel the dismantling of the old international order.
Election gains by the Democrats and the predictable Trump tweets show that America is fundamentally divided over values, and the fear and anger that drive the rise of the right will continue to propel the dismantling of the old international order.
The phenomenon of excessive bureaucratisation, or ‘tight coupling’, has led to failures, a loss of freedom and greater resentment. This angst has been channelled into a desire to discard the old order, as characterised by the European Union, Trump’s political opponents and international trade.
The phenomenon of excessive bureaucratisation, or ‘tight coupling’, has led to failures, a loss of freedom and greater resentment. This angst has been channelled into a desire to discard the old order, as characterised by the European Union, Trump’s political opponents and international trade.
The world needs to, but probably won’t, deal with a looming financial storm and global warming. The poor are powerless, the rich are complacent and the leader of the free world seems to think climate change is fake news.
The world needs to, but probably won’t, deal with a looming financial storm and global warming. The poor are powerless, the rich are complacent and the leader of the free world seems to think climate change is fake news.
Trump’s UN speech articulated his vision for American patriotism, which threatens the international system of trade, travel and finance that has made us better off.
Trump’s UN speech articulated his vision for American patriotism, which threatens the international system of trade, travel and finance that has made us better off.
On the 55th anniversary of the formation of the Federation of Malaysia, the country must grapple with channelling its diversity into building an inclusive knowledge society.
On the 55th anniversary of the formation of the Federation of Malaysia, the country must grapple with channelling its diversity into building an inclusive knowledge society.
The 2008 financial crisis was a wasted opportunity. Governments failed to act, passing the buck to central banks that pumped money into the global economy and set the scene for the next crisis.
The 2008 financial crisis was a wasted opportunity. Governments failed to act, passing the buck to central banks that pumped money into the global economy and set the scene for the next crisis.
The world is witnessing a contest between the US’ more market-driven (but not at all government-free) approach and the more state-driven strategy of China, and the first to reach Industry 4.0 wins.
The world is witnessing a contest between the US’ more market-driven (but not at all government-free) approach and the more state-driven strategy of China, and the first to reach Industry 4.0 wins.
There is broad agreement that a global order marred by inequality, dangerous climate developments and the disruptions of financial crises must change, but even panels of experts cannot produce a consensus on the shape it will take next.
There is broad agreement that a global order marred by inequality, dangerous climate developments and the disruptions of financial crises must change, but even panels of experts cannot produce a consensus on the shape it will take next.
The US president has his reasons for launching a trade war, demanding more spending by Nato partners and labelling the EU a ‘foe’: US debt levels and trade deficits cannot be sustained. The results of his actions, though, will be a once-orderly world off its hinges
The US president has his reasons for launching a trade war, demanding more spending by Nato partners and labelling the EU a ‘foe’: US debt levels and trade deficits cannot be sustained. The results of his actions, though, will be a once-orderly world off its hinges
Industry 4.0 calls for an ecosystem of universities, employers and students collaborating to meet the challenge of a digitised economy.
Industry 4.0 calls for an ecosystem of universities, employers and students collaborating to meet the challenge of a digitised economy.
This much-hyped technology has so far failed to earn the trust that enables financial transactions in the real world, especially when the total security it promises has already been compromised by hacks and fraud.
This much-hyped technology has so far failed to earn the trust that enables financial transactions in the real world, especially when the total security it promises has already been compromised by hacks and fraud.
Crisis-hit Italy may well destabilise the entire European project, because its problems are symptomatic of what really ails the euro-zone family – a refusal of the rich members to accept that an individual debt is a family debt.
Crisis-hit Italy may well destabilise the entire European project, because its problems are symptomatic of what really ails the euro-zone family – a refusal of the rich members to accept that an individual debt is a family debt.
The fourth industrial revolution has given rise to blockchain technologies that move transactions out of the purview of regulatory systems.
The fourth industrial revolution has given rise to blockchain technologies that move transactions out of the purview of regulatory systems.
There is a clear trend of urban voters moving away from religion-based politics to vote for improvements in economic livelihood. To safeguard his legacy, Mahathir must manage a generational change in Malaysian politics.
There is a clear trend of urban voters moving away from religion-based politics to vote for improvements in economic livelihood. To safeguard his legacy, Mahathir must manage a generational change in Malaysian politics.
Financial markets are now vulnerable to a wider range of shocks, as we grapple with the transition from a unipolar to multipolar world, and a divided society in which the elites are dangerously out of touch.
Financial markets are now vulnerable to a wider range of shocks, as we grapple with the transition from a unipolar to multipolar world, and a divided society in which the elites are dangerously out of touch.
Economies have to proceed through a manufacturing-focused phase, even if they switch to a service-oriented approach later, if they want to continue innovating. Advances in robotics and artificial intelligence will not change this.
Economies have to proceed through a manufacturing-focused phase, even if they switch to a service-oriented approach later, if they want to continue innovating. Advances in robotics and artificial intelligence will not change this.
Instead of decrying populism, the reaction against free trade and the rise of authoritarians, liberals in rich countries should examine how the globalisation process they supported led to a backlash.
Instead of decrying populism, the reaction against free trade and the rise of authoritarians, liberals in rich countries should examine how the globalisation process they supported led to a backlash.
As more people across the globe become middle class, the distribution of power will change, and national governments must do their best to help those left behind.
As more people across the globe become middle class, the distribution of power will change, and national governments must do their best to help those left behind.
Monetary policy set by the leading central banks, not unseen economic forces, will be crucial in 2018.
Monetary policy set by the leading central banks, not unseen economic forces, will be crucial in 2018.
Donald Trump’s election and his chaotic first year make the need for a paradigm of mutual understanding more urgent.
Donald Trump’s election and his chaotic first year make the need for a paradigm of mutual understanding more urgent.
While concern over inequality is widespread, the solutions have been elusive, largely because globalisation makes it easy for the rich to avoid progressive taxation. Therefore, civil society will have to play a role.
While concern over inequality is widespread, the solutions have been elusive, largely because globalisation makes it easy for the rich to avoid progressive taxation. Therefore, civil society will have to play a role.
The US tax cuts exemplify an economic model that is rooted in Western civilisation’s search for universal theories. Within the logic of the free market, income inequality is brushed aside as an inconvenient outlier.
The US tax cuts exemplify an economic model that is rooted in Western civilisation’s search for universal theories. Within the logic of the free market, income inequality is brushed aside as an inconvenient outlier.