Illustration: Craig Stephens
Andy Xie
Opinion

Opinion

Andy Xie

As the trade war reduces China’s US exports, structural reforms – not inflating away debt – are the right response to economic disengagement

  • Beijing should avoid responding to lost exports to the US by taking the easy route and boosting credit supply, as this would only benefit elite owners of highly leveraged assets and ignore China’s already massive property bubble

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Illustration: Craig Stephens
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Federal Reserve chairman Jerome Powell speaks at the Council on Foreign Relations in New York on June 25. Expectations are building that the Fed will cut rates later this year. Photo: Reuters
David Brown
Opinion

Opinion

Macroscope by David Brown

The global economy needs an end to the US-China trade war and increased spending on public services – not more interest rate cuts

  • The world has been awash with easy money for a decade and interest rates are already dangerously low. To boost bonds and reward savers, global stimulus should involve more coordinated spending on infrastructure, health and education

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Federal Reserve chairman Jerome Powell speaks at the Council on Foreign Relations in New York on June 25. Expectations are building that the Fed will cut rates later this year. Photo: Reuters
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