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2022 was a truly historic moment for the demographic evolution of the world’s most populous country. For the first time in 60 years, China’s population recorded a year-on-year decline. The Chinese ended 2022 850 thousand fewer. Unlike 60 years ago,…
Read moreWe are probably facing one of the most anticipated recessions. There seems to be a general consensus that 2023 will be the year we see a negative GDP growth for at least two consecutive quarters in a sizable part of…
Read moreHuman civilization has reached the tipping point in an area vital for its very existence: energy resources. Undoubtedly, the main issue is not depletion thereof, but managing it in such a way that the planet’s climate deterioration is cut short….
Read more“Economics is not an exact science. It’s a combination of art and elements of science”, said Paul Samuelson, the first American to win the Nobel Prize in Economic Sciences. Central banks seem to have forgotten this lesson in recent decades….
Read moreThe ESG acronym has become increasingly pervasive in corporate communication. “E” is the first letter of the word “environment”, suggesting the importance of environmental protection in conducting economic activities. “S” is the first letter of the word “social” and stresses…
Read moreIn my comment called “The war of the century which will define our future”, made at the end of 2016, I pointed out that globalization damaged the win-win balance between two essential factors of production: Labor and Capital. Basically, I…
Read moreI recently attended a conference on regional security issues with remarkable international participation. Evidently, the paramount topic in all presentations and debates was the war in Ukraine: what could have prevented it, how it is unfolding, what will be the…
Read moreThe yield curve plots the returns on government bonds by maturity, starting from the shortest and going up to the longest ones. The chart is closely watched as it can provide interesting indicators about the investors’ perception of future economic…
Read moreThe economic and military armament of the big illiberal powers – Russia and China, in particular – was achieved with capital originating in liberal countries. The capital’s unscrupulous pursuit of globalization opportunities after the fall of communism thinned the middle…
Read moreOver the last 6 months, we have heard countless comments about the delicate situation faced by Central Banks, forced to make a rather impossible choice: either to take on inflation, or try bypass recession. This is indeed an impossible choice…
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