Speaker of the House Kevin McCarthy picks up the gavel in the chamber in Washington on January 7. He was elected after 15 rounds of voting and making deep concessions to a hard-line faction of the Republican Party. Photo: AP
Speaker of the House Kevin McCarthy picks up the gavel in the chamber in Washington on January 7. He was elected after 15 rounds of voting and making deep concessions to a hard-line faction of the Republican Party. Photo: AP
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

US House speaker debacle points to underappreciated risks in advanced economies

  • The most dangerous political threat in advanced economies in recent years has always receded at the eleventh hour, breeding complacency among investors
  • The chaotic US House speaker election, and potential failure to raise the country’s debt ceiling, highlight an underpriced risk, even as China’s economy looks poised to boost developing economies

Speaker of the House Kevin McCarthy picks up the gavel in the chamber in Washington on January 7. He was elected after 15 rounds of voting and making deep concessions to a hard-line faction of the Republican Party. Photo: AP
Speaker of the House Kevin McCarthy picks up the gavel in the chamber in Washington on January 7. He was elected after 15 rounds of voting and making deep concessions to a hard-line faction of the Republican Party. Photo: AP
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