Comment, analysis and other offerings from Thursday’s FT,
UK Budget 2009
See FT.com’s in-depth report for analysis, reports and commentary from a team of reporters, industry experts and FT commentators.
Martin Wolf: The green shoots of recovery could yet wither
Spring has arrived and policymakers see “green shoots”. Is the worst behind us? In a word, No. The rate of economic decline is decelerating. But it is too soon even to be sure of a turnround, let alone of a return to rapid growth. Yet more remote is elimination of excess capacity. Most remote of all is an end to deleveraging. Complacency is perilous. These are still early days.
John Gapper: Why global brands rise in the east
our postwar assumption that the US is the place where most global consumer brands get launched before being spread around the world is being undermined. The shift in consumer buying power towards emerging markets is not only giving Chinese brands a much better chance of breaking out of their domestic market but is also subtly altering how western companies develop and market global brands.
Comment: William Cohan – clever wheezes do not mend banks
A true return of profitability on Wall Street will come with the return of public confidence in the way it does business, writes Cohan, author of House of Cards and a contributing editor at Fortune. Concepts such as honesty and transparency are key, not a bunch of accounting gimmicks designed to manufacture profits and send markets soaring. The public will remain sceptical of the recovery – and the return of the investment banks – until then.
Short View, video: The IMF’s view of emerging markets risks
John Authers examines the IMF’s distinctive view of emerging markets and its warnings that there could be a repetition of the “sudden stops” seen in earlier EM crises.
Lex on yuan for all?
Commentators have remarked on China’s determination to internationalise the renminbi, following the central bank governor’s remarks about finding an alternative to the dollar as the default reserve currency. But enthusiasts for such a new world order should take a step back. The glacial pace of China’s relaxation of capital controls over the past 30 years is unlikely to change on the current premier’s watch.
Letters to the Editor:
- Suburban gold
- Thailand’s king knew nothing of coup plot
- Creating cash before bedtime
- Newspapers must innovate if they want to survive
