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China, Europe, and optimal currency zones – Michael Pettis

5 November 2014

I typically think of four main factors that determine whether or not an economy can function efficiently as a single currency or economic zone. They primarily determine the level of adjustments costs and how these costs are to be shared, so that regions more able to bear the costs absorb a larger [read more]

How to link Australian iron with Marine le Pen – Michael Pettis

19 October 2014

After last week’s tumultuous markets one of my clients sent me an email saying “I am so relieved your constant talk about worsening imbalances kept us from getting too complacent. Things really are as bad as you keep saying.” I am not sure that what happened last week is proof of anything [read more]

Deflation trap – Andrew Gamble

2 September 2014

Andrew Gamble, Chair of SPERI International Advisory Board & Professor of Politics, University of Cambridge The European Central Bank has consistently denied that there is any chance of the eurozone falling into deflation.  The ‘deceleration of prices’ in recent months has been dismissed [read more]

The fiscal cliff – Andrew Gamble

11 December 2012

Andrew Gamble, Chair of SPERI International Advisory Board & Professor of Politics, University of Cambridge. How seriously should we take the fiscal cliff? Ben Bernanke first used the phrase in January 2012. The deadlock between the White House and Congress over how to deal with the mounting [read more]
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