The de-dollarization delusion

Is the dollar dying? In the wake of the Russia-Ukraine war and the massive growth in money supply and the US Federal Reserve’s assets in recent years, there has been a slew of stories and speeches extolling the virtue of de-dollarization.  The most recent came last week, when Brazilian President Luiz Inácio Lula da Silva called for the establishment […]Continue Reading

Fentanyl, Russia trade spark new Sino-US friction

Political tensions between Beijing and Washington have increased again after the Biden administration sanctioned 12 Chinese firms for shipments to Russia and two others for supplying chemicals illicitly used in Mexico to produce the opioid drug fentanyl for the US market. The US Department of Commerce’s Bureau of Industry and Security (BIS) last week amended […]Continue Reading

Japan’s G7 high-wire balancing act

Japan hopes to contribute to global rule-making as Prime Minister Fumio Kishida hosts the leaders of the Group of Seven (G7) advanced economies in Hiroshima on May 19-21. To do so, it will have to push an agenda that can ultimately shape Chinese behavior for the better, keep a distracted United States locked into a […]Continue Reading

Lessons from Chinese sanctions on Australian imports

From May 2020, Beijing blocked the import of roughly a dozen Australian goods for which China was the major market, cutting imports worth around A$20 billion (US$13.4 billion) annually. The deteriorating political relationship between Canberra and Beijing was the proximate cause, but a trade deal between Beijing and Washington involving increased Chinese imports of US […]Continue Reading

India’s unemployment problem stifling its economic potential

India, by some estimates, is the world’s most populous country and one of its most youthful. But as its population and economy expand – the International Monetary Fund projects the economy to grow by 6.1% this year, among the fastest in the world – so is the unemployment rate.  Unemployment stood at 7.45% in February, up from 7.14% […]Continue Reading