David Brown

David Brown is the chief executive of New View Economics. Over a career spanning four decades in London, David held roles as chief economist in a number of international investment banks.
David Brown
David Brown is the chief executive of New View Economics. Over a career spanning four decades in London, David held roles as chief economist in a number of international investment banks.

Latest from David Brown

Macroscope | It’s time for China to be honest about the poor shape of its economy

The comforting numbers, rose-tinted projections and all-round positive spin that Beijing has been feeding the public have to stop. The Chinese economy is in trouble and policymakers must take radical action to stop the rot.

19 Feb 2019 - 7:04AM
It’s time for China to be honest about the poor shape of its economy

The comforting numbers, rose-tinted projections and all-round positive spin that Beijing has been feeding the public have to stop. The Chinese economy is in trouble and policymakers must take radical action to stop the rot.

Macroscope | China and Europe’s economic insecurity suggest the glory days for the convergence trade are over

Economic worries suggest Beijing will come under pressure to commit to fiscal intervention, which would be likely to widen the spread between Chinese and US bonds.

11 Feb 2019 - 10:24PM
China and Europe’s economic insecurity suggest the glory days for the convergence trade are over

Economic worries suggest Beijing will come under pressure to commit to fiscal intervention, which would be likely to widen the spread between Chinese and US bonds.

Macroscope | China’s currency is heading for a volatile year – and that may be a good thing

Beijing has a choice: blow its foreign exchange reserves on stabilising the renminbi or let it reach equilibrium on its own. The latter would be the better choice in the long term.

6 Feb 2019 - 10:24PM
China’s currency is heading for a volatile year – and that may be a good thing

Beijing has a choice: blow its foreign exchange reserves on stabilising the renminbi or let it reach equilibrium on its own. The latter would be the better choice in the long term.

Macroscope | Besides US-China trade troubles, Europe’s economic and political struggles should have us on edge, too

Germany’s slide towards recession and Italy again threatening a revolt could mean big trouble for China’s economy, even if the trade war is resolved.

28 Jan 2019 - 10:32PM
Besides US-China trade troubles, Europe’s economic and political struggles should have us on edge, too

Germany’s slide towards recession and Italy again threatening a revolt could mean big trouble for China’s economy, even if the trade war is resolved.

Macroscope | How China’s yuan can gain ground against the US dollar and the euro as a global reserve currency of choice

The yuan has a gap to fill as the dollar’s share as a reserve currency slips and concerns about the euro’s future persist. However, market liberalisation and a hands-off approach to the currency in China are crucial.

21 Jan 2019 - 10:34PM
How China’s yuan can gain ground against the US dollar and the euro as a global reserve currency of choice

The yuan has a gap to fill as the dollar’s share as a reserve currency slips and concerns about the euro’s future persist. However, market liberalisation and a hands-off approach to the currency in China are crucial.

Macroscope | How China can avoid 2 per cent growth nightmare: cut interest rates, expand money supply and ramp up deficit spending

China must start treating the unthinkable – economic growth slumping to just 2 per cent – as entirely possible and ramp up the stimulus measures.

14 Jan 2019 - 10:23PM
How China can avoid 2 per cent growth nightmare: cut interest rates, expand money supply and ramp up deficit spending

China must start treating the unthinkable – economic growth slumping to just 2 per cent – as entirely possible and ramp up the stimulus measures.

Macroscope | Apple’s sales warning is a symptom of what’s ailing the US economy

Amid a shift in global economic power from west to east, the US economy is buoyed by policies that compound its budget and trade deficits. Without a radical overhaul, a downturn in the economic cycle will have a devastating impact.

8 Jan 2019 - 1:29AM
Apple’s sales warning is a symptom of what’s ailing the US economy

Amid a shift in global economic power from west to east, the US economy is buoyed by policies that compound its budget and trade deficits. Without a radical overhaul, a downturn in the economic cycle will have a devastating impact.

Macroscope | Trexit – the one thing Donald Trump can do to save the US and global markets in 2019

There are hopeful signs for markets, despite the current confusion. The Federal Reserve can always be counted on to stabilise the world economy, the Democrats are leading the House and Trump might just do the right thing and quit.

1 Jan 2019 - 4:32AM
Trexit – the one thing Donald Trump can do to save the US and global markets in 2019

There are hopeful signs for markets, despite the current confusion. The Federal Reserve can always be counted on to stabilise the world economy, the Democrats are leading the House and Trump might just do the right thing and quit.

Macroscope | Not just China: why the global economy needs Beijing’s stimulus measures to boost growth

Concerns are growing around the world about slowing growth, and only Beijing – not Britain, Japan, the EU or even the US – are in a position to revive economic hope.

26 Dec 2018 - 10:16PM
Not just China: why the global economy needs Beijing’s stimulus measures to boost growth

Concerns are growing around the world about slowing growth, and only Beijing – not Britain, Japan, the EU or even the US – are in a position to revive economic hope.

Macroscope | A recession is looming, easy money is ending and the yuan is falling – get set for 2019, the year of living dangerously

With indicators turning negative and austerity the norm, investors may be well-advised to liquidate and remember that cash is king.

17 Dec 2018 - 10:35PM
A recession is looming, easy money is ending and the yuan is falling – get set for 2019, the year of living dangerously

With indicators turning negative and austerity the norm, investors may be well-advised to liquidate and remember that cash is king.

Macroscope | With US data looking ominous, it’s time for a ‘China first’ strategy to brave the economic headwinds

On top of China’s slowdown, there are signs of looming trouble for the US, so Beijing needs to turn on the stimulus spigot now.

10 Dec 2018 - 10:32PM
With US data looking ominous, it’s time for a ‘China first’ strategy to brave the economic headwinds

On top of China’s slowdown, there are signs of looming trouble for the US, so Beijing needs to turn on the stimulus spigot now.

Macroscope | Why China should not fear the bogeyman of inflation

There’s no reason for Beijing to hold back from doing what’s necessary to boost its economy when the inflation outlook is tame and monetary growth modest, amid a soft global economy.

3 Dec 2018 - 10:27PM
Why China should not fear the bogeyman of inflation

There’s no reason for Beijing to hold back from doing what’s necessary to boost its economy when the inflation outlook is tame and monetary growth modest, amid a soft global economy.

Macroscope | The US trade war is chilling China’s consumer confidence and Beijing must step in to spur growth

Slowing growth means China has two choices: resolve tensions with the US or prime the pump. Since there’s no reason to believe Donald Trump will come to the rescue, government stimulus is the only answer.

26 Nov 2018 - 10:40PM
The US trade war is chilling China’s consumer confidence and Beijing must step in to spur growth

Slowing growth means China has two choices: resolve tensions with the US or prime the pump. Since there’s no reason to believe Donald Trump will come to the rescue, government stimulus is the only answer.

Macroscope | A trade war cannot give China and America what they need. A wake-up call is overdue

The two economies are so intertwined that when one falters, so, eventually, will the other. There is a way to address both their needs without coming to blows, and Beijing and Washington must put their minds to finding it.

19 Nov 2018 - 10:29PM
A trade war cannot give China and America what they need. A wake-up call is overdue

The two economies are so intertwined that when one falters, so, eventually, will the other. There is a way to address both their needs without coming to blows, and Beijing and Washington must put their minds to finding it.

Macroscope | China needs to spend big, like it’s 2008 again, before the economic slowdown sets in

The Chinese economy needs a stronger dosage of government intervention, or growth may slow to under 5 per cent next year. Beijing must expand the money supply, and ease credit conditions for households and companies.

12 Nov 2018 - 10:41PM
China needs to spend big, like it’s 2008 again, before the economic slowdown sets in

The Chinese economy needs a stronger dosage of government intervention, or growth may slow to under 5 per cent next year. Beijing must expand the money supply, and ease credit conditions for households and companies.

Macroscope | Why yuan devaluation is not in China’s best interests and it’s time for Beijing to stop the free fall

An adverse midterm election for Trump could see the US president push for a weaker dollar, resulting in a currency war that would rattle markets, while a weaker yuan will intensify the Chinese economy’s focus on exports, in contrast to Beijing’s intention of concentrating on domestic consumption.

9 Nov 2018 - 6:22AM
Why yuan devaluation is not in China’s best interests and it’s time for Beijing to stop the free fall

An adverse midterm election for Trump could see the US president push for a weaker dollar, resulting in a currency war that would rattle markets, while a weaker yuan will intensify the Chinese economy’s focus on exports, in contrast to Beijing’s intention of concentrating on domestic consumption.

Macroscope | Despite the trade war and stock market gloom, a repeat of the 2008 financial crisis is not on the cards yet

David Brown says while markets appear to be blowing off steam, global growth has held steady, the US economy is doing well and China is still recording a 6.5 per cent expansion.

30 Oct 2018 - 7:11AM
Despite the trade war and stock market gloom, a repeat of the 2008 financial crisis is not on the cards yet

David Brown says while markets appear to be blowing off steam, global growth has held steady, the US economy is doing well and China is still recording a 6.5 per cent expansion.

Opinion | Whether it’s after the midterm elections or later, the US will eventually realise it can’t beat China in the trade war

China has many economic weapons, while America’s growing budget deficits and trade gaps are getting worse, not better

23 Oct 2018 - 2:26PM
Whether it’s after the midterm elections or later, the US will eventually realise it can’t beat China in the trade war

China has many economic weapons, while America’s growing budget deficits and trade gaps are getting worse, not better

Macroscope | Trade war with the US shows China needs a new market-driven model for monetary policy

While a more decisive interest rate cut would be beneficial now, what China’s central bank really needs is more transparency in monetary policy and less government dictation.

15 Oct 2018 - 10:32PM
Trade war with the US shows China needs a new market-driven model for monetary policy

While a more decisive interest rate cut would be beneficial now, what China’s central bank really needs is more transparency in monetary policy and less government dictation.

Macroscope | Why the US dollar still reigns supreme and how the renminbi can knock it off its throne

There are signs that the US dollar’s dominance as a reserve currency asset has been waning but, for the renminbi to fill the gap, China must run a truly independent foreign exchange and monetary policy.

8 Oct 2018 - 10:38PM
Why the US dollar still reigns supreme and how the renminbi can knock it off its throne

There are signs that the US dollar’s dominance as a reserve currency asset has been waning but, for the renminbi to fill the gap, China must run a truly independent foreign exchange and monetary policy.

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