Both the COVID-19 crisis and the climate crisis highlight the limits of humanity’s power over nature. But while both remind us that the Anthropocene epoch may jeopardize our continued existence, and that benign everyday behavior can result in catastrophic outcomes, such similarities must not obscure crucial differences.
At this livestream event by Bruegel and the FT Brussels Briefing we were joined by Thierry Breton to discuss the the challenges posed to Europe's Industrial Policy by COVID-19. This event is ONLINE ONLY
The response of the global financial markets to the trade agreement reached between the United States and China has been very positive, probably excessively so given the relatively limited size of the agreement reached.
This article shows some evidence of the decrease in merchandise, capital and, to a lesser extent people to people flows.
The most concerning aspect for the Chinese economy will still be to hold up domestic demand. The rapidly rising household debt will put further breaks of the households' ability to purchase durable goods
In the last decade, most advanced economies have grown more slowly than before. Slower growth has frequently been seen as a legacy of financial crises, especially that of 2007–2009.
Will AI exacerbate the gap between big companies and small ones? Do ordinary Europeans gain anything from having European tech giants? This week, Nicholas Barrett and Guntram Wolff went to the Berlaymont to interview Margrethe Vestager, the Executive Vice President of the European Commission for a Europe Fit for the Digital Age.
The tentatively agreed deal between China and the United States temporarily stops a dangerous dynamic, yet it falls far short of the negotiating objectives of both sides. US trade policy has become a dominion of the executive branch guided principally by the President’s electoral interests. Meanwhile, China demonstrates its capacity to resist pressure: it will enact structural reforms at its own pace in line with its interests. Sadly, the deal confirms that the United States no longer feels obligated to follow WTO rules, and can induce others to do the same.
How do states exercise power through global economic networks? The multilateral world order is supposed to be harmonious, but by seizing the nodes of production, powerful forces can control access to the global economic system and threaten to lock their rival out. This week, Nicholas Barrett and Guntram Wolff are joined by Henry Farrell, Professor of political science and international affairs at the George Washington University, and Abraham L. Newman, Professor of Government at the Georgetown University, to discuss their theory of weaponised interdependency
The U.S. and China’s negotiations on a phase-one deal seem to have stalled again. The market was already aware of the limited nature of the likely deal, but was still hoping for it. Against this backdrop, the investors have reacted negatively to the increased likelihood of not reaching a deal on December 15. If this is the case, the U.S. will apply additional tariffs on Chinese imports. The obvious question to address, thus, is, what can happen to China under such a scenario?
Small European firms are falling behind in the race to digitalise, but so are their American counterparts.
Nicholas Barrett and Guntram Wolff discuss industrial policy and the social consequences of the green deal with Grégory Claeys and Simone Tagliapietra.