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IN THE 1990S economists had almost given up on the developing world. Although individual countries, like Singapore or South Korea, occasionally scaled the income ladder, the overall picture was, in the words of Lant Pritchett, a development economist at Harvard University, “divergence, big-time” between advanced economies and the rest. Then the scene changed. From the […]
Emulating China’s development model is getting harder
Plummeting water levels in the drought-hit Rhine River are disrupting shipping and squeezing European supplies of important industrial commodities from coal to motor fuel. Switzerland tapped its emergency stockpiles of diesel this week after some stretches of the river receded to knee-high levels and fuel barges could not reach the country. The shortage of deliveries […]
“I’ll take a flat white with the veggie panini, please,” I say, in English. Within seconds, the espresso machine is making its deafening but oh-so-satisfying whir — loud enough to make a nearby student glance up over his MacBook Air. A tourist is reading his Lonely Planet guidebook, and a besuited man with a briefcase […]
VCG/Getty Images Ford sales in China tanked 43% in September year-over-year. The drop is attributed to a confluence of factors, from Ford’s makeover of the company to the Chinese economic slowdown. The growing trade war between the US and China also most likely played a role. Ford has been dealing with a series of maladies […]
Paul Romer and William Nordhaus share the glory
President Donald Trump has tweeted “newfound wealth” would be lost if people vote for Democrats in midterm elections. His statement has sent many wondering where’s that wealth may be. With the US Senate and House elections inching closer, the President has ramped up his efforts to win swing voters as he bragged about the nation’s […]
Marcos Brindicci/Reuters Argentina reveals new austerity measures aimed at reducing the country’s huge budget deficit. New measures will include an increase in export tariffs for grains such as soybeans, and a halving of the number of government agencies. The new measures were not well received by investors, with the peso falling after their announcement. Argentina […]
REUTERS/Guadalupe Pardo Brazil said it was sending armed forces to keep order near the Venezuelan border area. President Michel Temer said the move was aimed at keeping order and ensuring the safety of immigrants. The exodus of Venezuelans to other South American countries is building toward a “crisis moment.” LIMA (Reuters) – Brazil said it […]
Angeliki Tziaka moved to the U.K. soon after the Greek government began cutting pensions and public sector wages in the first bailout program agreed upon with international creditors in 2010. She felt the choice was clear: work abroad or risk a long spell of unemployment at home. “I’d recently graduated in medicine and I wanted […]
