UK Sterling: Pounded! What’s Next?

11 October 2019 Understandably, perhaps, Brexit fatigue is widespread. However, the issues at stake are far too important to allow the outcome to be decided simply because of weariness. Not only are the economic implications significant, but the result will define the relationship between the UK executive government, the Parliament, the courts, and the electorate [...]

Europe: Fiscal Stimulus Key to Avoid Recession

29 September 2019 The European economy has been decelerating since 2017. Indeed, the meagre 0.2% gain in GDP during Q2 2019 suggests economic activity may be stalling. And, as Germany, Italy, and the UK all recorded negative growth rates during the interval (and with Q3 looking decidedly weak as well), financial markets are increasingly concerned [...]

Japanification: Has Europe Been Infected?

2 May 2019 The sharp decline in equity markets during Q4 2018, reflected the likelihood that global economic activity would decelerate in 2019. Some commentators went even further, coining a new phrase, and posing the question of whether a "Japanification" of the global economy was taking place. That is, even a decade after the Global [...]

India: Long Growth Runway Still Lies Ahead

6 March 2019 Following the BJP's dramatic 2014 electoral victory, Prime Minister Narendra Modi enjoyed a mandate to implement economic reform. From the beginning, however,  the program faced criticism. On the one hand, Hindu nationalist believe the changes do not go far enough in promoting their interests, whereas non-Hindus charge the  benefits have not been [...]