Economy & Markets
Structural Substitution Inflation and China’s Consumer Paradox
Data have long clearly shown that China's current sluggish consumption has become a crucial issue facing the country. One commonly recognized cause is that...
The Hidden Bill Behind Europe’s Defense Spending Boom
Europe's rearmament is being financed out of the welfare state, not economic growth, and different governments are settling that bill in different currencies: Germany...
Eastern Economic Forum: Russia Bets on Asia and the Global South
The Eastern Economic Forum (EEF) has been described as a successful solid platform since its creation. It increasingly attracts guests from widely different countries,...
Norway’s $2.3 Trillion Fund Is Cutting Treasuries. Here’s Who’s Left Holding Washington’s Debt
TODAY’S NUMBERS $80bn (Norway fund’s proposed Treasury cut) · 4.79% (US 10-year Treasury yield) · 289t (record Q2 central-bank gold buying) Sovereign money is...
Beijing Versus Washington: The New Economics of Iran’s Sanctions War
China is buying ninety percent of Iran's oil exports, settling transactions in renminbi, and hiding the rest beneath layers of shell companies. This is...
Can BRICS Build a Payment Ecosystem Without Becoming a Financial Bloc?
The most consequential expansion of BRICS may happen without a new currency, a dramatic fall in dollar reserves, or another flag being added to...
After the Flames at Zawiya: Why Libya Needs More than Oil
The drone strike that hit a gasoline tank at the Zawiya refinery in August was more than a security incident. Zawiya is Libya's largest...
Could US Big Tech Crowding Out Europe’s Bond Market?
U.S. technology giants are increasingly turning to European bond markets to finance their massive AI and data centre investments. The shift is raising concerns...
How Two EU Vetoes Are Quietly Handing Russia a Win in the Sanctions War
TODAY'S NUMBERS
$4,334 (gold, per ounce, near record) · $200bn (Russian reserves frozen at Euroclear) · Sept. 15 (deadline for the EU's Russia sanctions list...
Iran, Oil and a Hawkish Fed: Why the Dollar Is Winning the Week and Losing the Decade
TODAY'S NUMBERS 99.73 Dollar Index (DXY) · 4.81% US 10-year Treasury yield · $4,304 Gold, per ounce All three are rising together — the...