Elsewhere on Monday, - Gavyn Davies: “global growth seems firm enough to shrug off the Brexit risk, provided that it is confined mainly to the UK and its direct trading relationships.” - Krugman on trade, jobs, Trump and China. And on Mervyn King’s book. - The myth of cosmopolitanism, and Tyler Cowen steps in to defend Davos.
FT Confidential Research will be hosting an intimate ‘up, close and personal’ China session at the FT’s Festival of Finance this coming Friday at 2pm. It will take place in the M&G Coffee House area and be hosted by FT Confidential Research’s principal for China David Wilder, their chief economist Xiao Qi and head of research Sun Yu. This will be a chance to put your questions directly to the experts and benefit from their unique on the ground, regional perspective. Here follows their analysis of whats’ been going on in China’s shadow banking sector whilst we’ve all been distracted by Brexit. In some respects, Brexit has been a gift for Beijing. The chaos in world markets unleashed by the UK’s vote to leave the European Union means a Chinese hard landing has slipped down the list of potential threats to global stability. Not that Li Keqiang appeared particularly gleeful at this newfound loss of status when he gave his annual address this week to the World Economic Forum in Tianjin. Instead, the premier rolled out his government’s now-familiar tropes about the resilience of Chinese growth and the relative health of the labour market, again dismissing talk of an economic hard landing.
This ontological inequality will separate those who adapt from those who resist – the material winners and losers in all senses of the word. The winners may even benefit from some form of radical human improvement generated by certain segments of the fourth industrial revolution (such as genetic engineering) from which the losers will be deprived. This risks creating class conflicts and other clashes unlike anything we have seen before. An excerpt from The Fourth Industrial Revolution by Klaus Schwab, executive chairman of the World Economic Forum.
- Trading Places and those frozen orange juice futures
- From the Trump to the Tramp
- The Trump economy
- The psychology and neuroscience of financial decisions
- Comparing the candidates’ tax plans, and a GBP view from the US
- Tim Harford on the unheralded virtue of messiness
- Ryan Avent on the social capital of firms, development economics, and monetary policy
- Dan Drezner on forecasting the next-gen political economy
- Alphachat bonus episode: Arlie Russell Hochschild’s guide to Trumpland
- The problem with drug pricing
A reminder that you’ll have a chance to win a Kindle by recommending ways to improve Alphachat at www.ft.com/alphasurvey. Help us out!