Potential buyers view a model of New World Development’s Atrium House, Tsuen Wan, in June. Ever-increasing property prices beyond the reach of most Hongkongers, while the government sits on a massive pile of reserves, have been a major cause of Hong Kong’s discontent. Photo: Xiaomei Chen
David Dodwell
Opinion

Opinion

Inside Out by David Dodwell

Inverted yield curves may alarm Donald Trump and the wealthy, but it’s just more stagnation and inequality for the rest of us

  • Low interest rates after the 2008 crisis limit our response to the next recession, but that’s not the only problem
  • For those who aren’t wealthiest of the wealthy, prevailing low interest rates have meant salaries stagnate and savings evaporate

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Potential buyers view a model of New World Development’s Atrium House, Tsuen Wan, in June. Ever-increasing property prices beyond the reach of most Hongkongers, while the government sits on a massive pile of reserves, have been a major cause of Hong Kong’s discontent. Photo: Xiaomei Chen
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People shop at a Uniqlo store during the opening of The Hudson Yards residential and commercial development in Manhattan, New York, in March. The all-important US consumer, while less upbeat than at the start of this year, is still spending. Photo: Reuters
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

US consumer confidence shines amid the gathering economic gloom. But for how long?

  • With the latest manufacturing data apparently supporting growing market pessimism as the US-China trade war rages on, American consumer sentiment has become the single most important factor shaping the global economic outlook

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People shop at a Uniqlo store during the opening of The Hudson Yards residential and commercial development in Manhattan, New York, in March. The all-important US consumer, while less upbeat than at the start of this year, is still spending. Photo: Reuters
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