Pulse: Global


2019 Outlook

Like previous “year ahead” reviews I have published on EconVue, this is not intended as a prediction of how events will necessarily unfold in real life. Instead, as always my intent is above all to consider the main risks to the stability to the international political and economic environment in various regions of the world that I am relatively familiar with.

Europe

2019: Trends, Risks and Hard Questions in Latin America

I am sharing with  you my new article examining trends and challenges facing Latin America and the Caribbean as we begin 2019.  The work focuses on the reinforcing effects of the fragmentation and other changes in the criminal groups across the region, the advance of the PRC, and deepening political crises in Guyana, Venezuela, Honduras, and Guatemala.  The article also highlights significant developments and challenges in Mexico and Colombia as countries of concern.

EconVue Spotlight - History is Back

I normally feel after reading, reviewing, and discussing the events of the previous week that I’m able to discern a direction or constructive theme.  Today however, every corner of the world seems mired in some degree of turmoil, and markets are reacting. There is so much noise that it is difficult to decide what is causing this new volatility. Is it China, the Fed, the Mueller investigation, Yellow Jackets, or technology run amuck?

Beneath-Trend Growth for World Economy in Early 2019

Forecasts for 2019 are now coalescing. The typical view is that the first half of the year will be more difficult for the world economy than 2017 and 2018, with beneath-trend growth likely. As has been anticipated in these notes for some time, the Eurozone is the focus of concern. Not only will the European Central Bank end its asset purchases next year, but warnings are being given to the weakest banks – the banks that cannot easily fund their assets from market sources – that the ECB’s long-term loan facilities to them may not be extended in mid-2020.

Taiwan’s Struggle for Partners and Survival

From November 26 to December 2, 2018, I traveled to Taipei, Taiwan to speak at the prestigious private university, Tamkang. There I had the chance to interact with academics, officials, and students regarding Taiwan’s relationships in Latin America and the Caribbean and its associated struggle for diplomatic and existential survival.

The Buenos Aires G20 Summit: A Preview

The G20 leaders gathering on November 30 in Buenos are meeting at a time of rising global challenges to the global economic and financial system: slowing global growth, rising trade tensions, attacks by the Trump administration on the global financial architecture, financial markets meltdown,  regional disputes among key G20 members.

EconVue Spotlight

I know some people abhor social media.  The sector has certainly taken a beating lately in the markets, but I really love Twitter. It gives me the ability to hear the (curated) voices of people I know, don’t know, and in some cases hope I never know, but who make me think.  I follow the newspapers and journals I used to have to login to separately, read other media from all around the world I didn’t even know existed, and get into impromptu conversations with real experts. 

Markets are Spooked - but will the Fed give us a Merry Christmas?

As everyone knows, October has been a terrible month for equity markets. Some market participants feel that this did not just coincide with higher interest rates, but was caused by flawed Fed monetary policy and comments on overshooting. Like the humming chorus in Madama Butterfly, there has been a steady rise in the number of voices supporting a Fed pause in December. These include members of the Federal Reserve Open Market Committee itself, such as Neel Kashkari, and leading economists such as Jason Furman. 

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