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Anthony Rowley
Anthony Rowley is a veteran journalist specialising in Asian economic and financial affairs. He was formerly Business Editor and International Finance Editor of the Hong Kong-based Far Eastern Economic Review and worked earlier on The Times newspaper in London
Free capital flows accelerate economic growth but can also be destabilising, spreading jitters via financial markets.
The world still lacks an institution with the authority to enforce financial commitments, but policymakers are at least starting to realise the size of the problem.
US-China decoupling and trade diversification across the Asia-Pacific mean Trump’s tariffs are no longer capable of mass destruction.
In matters of open trade, Asian policymakers can no longer rely on the IMF, which is now advising Asia to focus on building domestic demand.
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Tokyo’s power vacuum, and questions over Japan’s policies and its relationship with the US under Harris or Trump, could have deeper economic impacts.
The lack of financial market volatility amid economic uncertainty related to geopolitical risks should worry more people.
The West and its institutions are deluded if they think ignoring the Global South’s demands and preserving the status quo will work.
With Earth on the brink of ecological tipping points, nothing short of a fully coordinated push can prevent worst-case warming scenarios.
Relying on a stock market bubble to quickly create economic growth is tempting but such an approach seldom ends well.
As we wrestle with challenges similar to those before the 1920s slump, let’s not rely on central bankers to save us from economic calamity.
Instead of being grateful, the US and Europe are lashing out at China while simultaneously adopting aspects of Chinese state capitalism.
The recent skittishness of equities is undermining global investors’ confidence and driving them to seek safety in bonds.
The gold price coming adrift from traditional anchors points to deep uncertainty about the world and concern for the global monetary system.
The election of an unorthodox figure to lead the Liberal Democratic Party could allow for much-needed balance between diplomacy and deterrence.
As geopolitical confrontation deepens, the dollar could be heading for a steep fall without any outside help, while gold continues to rise.
At a time when some are intent on promoting division, maybe our only hope for progress is forward-looking institutions like the World Bank.
Markets are beginning to reflect and respond to a fast-growing sense of uncertainty and insecurity in the wider world.
The coming stock shakeout will force the realisation that savings are being directed into areas of fleeting gain rather than at real need.
The Belt and Road Initiative is picking up momentum amid increasing synergy with countries in the expanding Brics grouping.
Government spending has played a big role in boosting the US’ consumption and jobs figures, but how long can this last?
Recent UK and French election results and US turmoil are creating an impression of political and societal instability.
If Western countries want to enter the house the Brics nations are building, it would have to be as genuine partners rather than would-be landlords.
Doubts about the US government’s ability to manage its debt without stoking inflation are sparking the latest round of dire warnings about the risks to the global economy.
Great reforms seem to be born only out of major upheavals. And the IMF enjoys only as much power as its fractious owners are prepared to give it.
Trillions invested in environmental, social and governance has diverted funds away from more worthy sustainable projects.
No state can withdraw from globalisation on its own terms, and the world cannot have one power in effect running monetary policy on behalf of everyone else.
With extreme weather events linked to climate change set to increase in frequency and scale, sustainable infrastructure funding remains critically low. To provide real solutions, financial markets need to get more involved in directing savings towards climate investment.
Asia needs to stop seeing older people as liabilities to be tolerated, and instead view them as assets to be nurtured, through better human resource management.
Concerns about an Asian currency war and what it would mean for the world economy have been underpinned by a strong US dollar. Some economies may choose to intervene in currency markets, but the big question is whether China will devalue the yuan or proceed with caution
It is starting to look as if the changes in global economic ties will lead not to a hot war but a new ice age where US- and China-aligned blocs coexist in an environment of slow growth and tension
