Apr 7th 2025 | Hong Kong DURING HIS inaugural address eight years ago, Donald Trump spoke of “American carnage”. In recent days he has spread something similar across the world economy: a problem he a...
Apr 6th 2025 | San Francisco IN ITS SCOPE and severity, the trade war took markets by surprise. On April 3rd, the day after President Donald Trump laid out an unprecedented array of tariffs, the Russe...
Apr 5th 2025 | Washington, DC IN DONALD TRUMP’S view of global trade, America has been “looted, pillaged, raped and plundered by nations near and far”. Ironically enough, customers near and far who av...
DONALD TRUMP’S tariff announcement on April 2nd has drawn mockery for its spurious maths. Any bilateral trade deficit is treated as gross unfairness; the tariffs are set by taking the measure as a sha...
Apr 4th 2025 | Hong Kong NEVER INTERRUPT your enemy when he is making a mistake. That sounds like Sun Tzu, a renowned Chinese strategist, but the adage, attributable to Napoleon Bonaparte, originated ...
A few months ago everyone on Wall Street was discussing the “Trump trade”. The consensus was that Donald Trump’s presidency would boost the outperformance of American stocks, raise Treasury yields and...
Javier Milei can barely contain his excitement. Since December, when the IMF’s last agreement with Argentina ran out, the country’s president has sought a fresh bail-out. Indeed, his efforts include a...
The metal has been used since ancient times. From the Bronze Age until the 18th century, when it was supplanted by porcelain, tin was the main ingredient in alloys used for kitchenware. Yet it is also...
It is Malawi’s rainy season and smartly dressed worshippers are spilling out from church. Couples, arm-in-arm, dodge potholes as they progress down the street. The migration moves past clothes shops a...
Apr 3rd 2025 | Hong Kong and New York On a grey afternoon outside the White House, President Donald Trump promised that his tariff plan would “Make America Wealthy Again”. The world’s financial market...
