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Everyone has become so inured to massive central bank interventions in markets that no one realizes just how unusual the latest banking crisis and response has been. But the time has come to consider whether monetary policy is the systemic force that created systemic vulnerability in the first place
30 May 2023
While investors should never let rules of thumb, such as “Sell in May and go away”, override financial fundamentals, there are times when the fundamentals can become quite hazy. In fact, recent inflation figures and other high-frequency indicators suggest that we are in such a period right now
Jim O’Neill
19 May 2023
The United States and the European Union are currently pursuing separate initiatives to regulate artificial intelligence (AI). But in order to address the significant risks posed by generative AI, American and European policymakers must establish a common framework based on shared values
17 May 2023
Once upon a time, the greed of tobacco companies was channelled through libertarian outrage over the restriction of smokers’ freedom to choose cancer. Today, the outrage is serving the interests of bankers panicking at the prospect of central bank digital currencies
16 May 2023
Economic headwinds and internal disagreements have long stymied the Brics’ ambition to become a global diplomatic and financial force capable of challenging Western-led international institutions. Is this finally changing?
16 May 2023
Despite the recent moderation in price increases, high inflation will likely continue to challenge Western economies for a long time. Against this backdrop, central banks must work to restore public trust by abandoning their ivory tower and communicating more effectively with the citizens they serve
15 May 2023
Corruption, inefficiency and favouritism have become rampant in Thailand since the 2014 military coup, impeding growth and erasing much of the progress that has been made over the past four decades. To regain its global standing and mend relations with its democratic neighbours and the West, Thailand must embrace economic reform and restore the rule of law
14 May 2023
Barring a “black swan” event, China can achieve 6% GDP growth this year, thereby ending a 12-year slowdown. The key ingredient must be carefully planned and prudently funded infrastructure investment
12 May 2023
Generative artificial intelligence (AI) models like ChatGPT will revolutionize the economy, though no one can say when. Equally important, no one can say where, though there is no reason why AI, like previous general-purpose technologies, shouldn’t produce widely shared net benefits
11 May 2023
By trying to predict the next word, ChatGPT has developed a nuanced understanding of context, grammar and syntax and acquired capabilities that far exceeded its designers' initial expectations. There is a valuable lesson here for how development economists and policymakers approach the determinants of growth
10 May 2023
At a time of rising geopolitical tensions and supply-chain fragmentation – when national security considerations are shaping economic policy, and the risks of war seem to be intensifying – industrial policy is all but inevitable. The question is how to do it well
10 May 2023
The gloomy backdrop has unsurprisingly seen UK IPO and M&A deal flow crater and the revenues of UK mid-cap-focused investment banks and securities firms decline in lockstep. Cenkos and finnCap, two top mid-cap-focused UK investment banks, announced just weeks ago that they are merging to form a leading player in this segment. But far from being a sign of optimism, many are seeing it as a crystallization of weakness in UK investment banking.
9 May 2023
Critics of former Bank of Japan governor Haruhiko Kuroda like to point out that Japan never achieved its 2% inflation target, and warn that monetary expansion has left the country vulnerable to an inflationary surge. What they fail to acknowledge is that Kuroda's policies led to a dramatic strengthening of the labour market
8 May 2023
The International Monetary Fund and the World Bank are now predicting a prolonged period of sluggish growth and declining investment. The coming downturn is not inevitable, but restoring global growth will be extremely challenging for two key reasons
6 May 2023
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