This time, due to lack of time, I have not sorted it and there is no particular theme either. Will do better next time.
Ricardo Hausmann says that the best way to attack evil is to attack the lies on which they are based.
Dani Rodrik on the mirage of structural reform. He says more progress comes from tactical interventions and small steps.
Link to the full text of TPP Agreement
Chennai December 2015 music season link
Brazil is cleaning up its corruption; Turkey is covering it up. Markets penalize former, reward latter. But hey, markets are efficient. [Link]
Clive Crooks’ thoughtful review of Dani Rodrik’s book (‘Economics Rules’)
IMF conference on unconventional monetary and exchange rate policies. Links to papers inside the link!
FT reviews Garry Kasparov’s book, ‘Winter is coming’
Saudi Arabia will keep pumping and expect prices to recover as demand recovers. Realistic?
Goldman shuts its BRICS fund. Symbolic. Not bad timing.
Writing on China’s sea of troubles, Gideon Rachman notes, In all this jostling for influence, China’s strongest card remains the power of its economy. It is probably a bit dated.
OECD cuts global growth forecast. Why do they project a growth pick-up in 2016 over 2015? Triumph of will or wishful thinking over intellect. Conference Board in the USA is even more pessimistic.
John Plender says that China’s fiscal pump-priming is equivalent to one-quarter of 2008 stimulus:
Corporate leverage in the US underestimated.
After Greece, it could be the turn of Portugal. Anti-austerity parties to form the government shortly.
10 charts from Macquarie Research that shows America is doing great. Bring on the rate hikes! I do not believe it though.
This must be very familiar to Indians. Liberals are above scrutiny and judgement:
Bloomberg article traces higher incidence of forest fires in Indonesia since 2004, when local elections began to be hotly contested:
Andy Mukherjee is positive about the liberalised FDI norms that Government of India announced on Tuesday.
India’s Business Standard has lunch with historian Yuval Harari who wrote a brief history of humankind:
China Shanshui Cements misses bond payment; defaults:
“Since World War II, I have never seen one economy in the world that could depend on domestic consumption and manage to have 6% GDP growth. It’s the nature of consumption,” said Dong Tao, the Swiss bank’s managing director and chief economist for Asia excluding Japan. [Link].
Amen to that.
The construction boom — with capital costs estimated by Greenpeace at $74 billion — is a clear sign that China remains entrenched in investment-driven growth, despite promises by leaders to transform the economic model to one based on consumer spending.
It also raises questions about whether China is weaning itself from coal as quickly as it can and whether officials are sufficiently supporting non-fossil fuel sources over coal, which is championed by some state-owned enterprises. China is the biggest emitter of greenhouse gases in the world and the main driver of climate change, and it has some of the worst air pollution. [Link]
Chinese banks given nine years to reach 16% Total Loss Absorbing Capacity.
PBoC is really not interested in RMB internationalisation, says Chris Balding. I am not so sure. Perhaps, they want to have the cake and eat it too.
China will continue to support the economy (oh, well, is that news?)
No visa for Miss world to compete in China because they did not like her views:
Four Hong Kong publishers known for their racy texts critical of communist leaders in mainland China have apparently disappeared.
Chinese energy consumption may shrink in 2015 on industrial adjustment, said Zhou Dadi, a senior researcher with Energy Research Institute under the National Development and Reform Commission. [Link]
But, growth rate is 7%, alright.
Shockingly inept logic from Larry Summers because of its brazen and ill-concealed shilling for China:
Jet lag remedies do not work for all and not for you all the time. I concur.
Sites other than TED for good talks.
El Niño phenomenon worst in 65 years. I feel it in Singapore.
Lighthouses in disputed islands, off South China Sea [Link]