economics
Imported tag from Readwise
economics
They occur instead for two other, related, reasons. First, emerging market borrowers and investors have consistently underestimated the source and magnitude of volatility in emerging financial markets. Second, perhaps as a consequence, borrowers and investors have permitted and even encouraged sovereigns to put into place capital structures that
... See moreMichael Pettis • The Volatility Machine
.economics Financial crisis occurs because of Capital Structure
Services trade fared better than merchandise trade, growing 15% in 2022. International travel continued to rebound strongly, rising 70% year-on-year after many regions lifted pandemic-related mobility restrictions.
Looking back through the entire pandemic period, computer services were the most dynamic sector in services trade, with global exports
... See moreWTO • World Trade Statistical Review 2023
Basically, we engineered a way for the whole world to need dollars (most major oil producers would only sell oil in dollars), and as a result, the forces of supply and demand hold open our trade deficit to provide the rest of the world with dollars.
Export-driven countries like Germany and Japan were able to rise to the occasion on the other side of
... See moreLyn Alden • Economic Japanification: Not What You Think
As we showed in chapter 7 German recycling of the German current account surplus through the banking system is not radically different from Chinese recycling of the Chinese current account surplus through the central bank. Policies that restrain consumption growth must push up the savings rate, and if as a result savings exceed investment, the
... See moreMichael Pettis • The Great Rebalancing
What we can say is that countries generally become more efficient in their use of raw materials as their economies develop, and so we should not be surprised to see the same thing happening gradually in China.
Edward Chancellor • Capital Returns
Warnings came from sector rotations out of late expansion stocks into early contraction stocks.
John J. Murphy • Intermarket Analysis
corporations; I mean the body of finance theory that applies to the relationship between an economic entity, its capital structure, and market risks.
Michael Pettis • The Volatility Machine
... See moreWind power in the Lower 48 states produced about 335,753 megawatt hours (MWh) on July 22, the lowest since Oct. 4, 2021, according to preliminary data from the U.S. Energy Information Administration (EIA). When the wind did not blow, power companies usually burn more gas because it is the only big source of power they can turn to quickly to provide