WORLD
US Presidential Elections: Trump's economic outlook is more inflation, less sanity
If the former president’s stated agenda is any indication, inflation is likely to make a roaring comeback
BUSINESS
Elon Musk expected to meet with space startups during his India visit
Startups including Skyroot Aerospace, Agnikul Cosmos, Bellatrix Aerospace and Dhruva Space say they have received requests from the government to save the date for a meeting with Musk
BUSINESS
Ukraine War: German refusal to send Taurus missiles is emboldening Putin
Vladimir Putin's biggest weapon is western fear. Those who wish peace for Ukraine and Europe must first be prepared to show Putin that he cannot win
WORLD
Nikki Haley won over billionaires and GOP’s old guard but couldn’t crack Trump’s base
Haley’s emergence as perhaps Trump’s most formidable challenger came too late, close watchers of the race said
BUSINESS
Putin’s war is decimating the Russian economy
The war’s consumption of able-bodied workers has driven is forcing civilian industries to pay more for scarce labour. To keep inflation in check, the central bank has had to hike its benchmark interest rate to 16%, further squeezing the private sector. The annual budget deficit is about $17 billion, but government's borrowing capacity is of limited use if domestic banks are the only available lenders. Those same banks are increasingly exposed to losses as sky-high interest rates weigh on corporate borrowers
WORLD
German Protests: The country needs a new growth agenda and its people need hope
The end of cheap Russian energy and the rise of Chinese competition have slammed a manufacturing sector that used to drive growth. The country’s storied infrastructure is faltering. A new growth agenda that reduces overreliance on manufacturing demands deregulation of professional services, faster adoption of digital technologies, and a more flexible capital market to direct investment to new and productive uses
ENVIRONMENT
How financial engineering can help Europe go green
For funding renewable projects, derivatives such as two-way contracts have existed for long but inertia prevents their greater adoption. Each project has a target price, determined at a competitive auction. When market prices are lower than the target, the government makes up the difference. When the market goes higher, the producer pays the excess to the government
BUSINESS
Europe’s migration plan deserves a chance to succeed
There are no quick fixes to the challenge of migration for wealthy countries. By combining deterrence measures with a stronger commitment to burden sharing, the EU’s migration and asylum pact offers the glimmers of a constructive path forward. Now it’s up to Europe’s leaders to follow through
BUSINESS
Putin’s shadow sanctions-busters are a test of Western resolve
The US and Europe must do more to enforce the price cap on Russian oil and maintain pressure on the Kremlin
WORLD
COP28 needs less talk and more action
What matters now is not more minutely discussed goals, commitments and pledges, but action. It’s encouraging that, for the first time, officials at this year’s conference will weigh the findings of a formal “global stocktake” on lack of progress. That ought to stifle any desire to say “so far, so good”
BUSINESS
Pitfalls Lie in Wait for Emerging Markets After Euphoric Month
An MSCI index of emerging-market equities has jumped 7.1% in November, and a similar gauge of currencies has risen 2.3%, both the biggest advance since January.
BUSINESS
OpenAI leaders' efforts to bring back Altman reach impasse over Board Role
The campaign to reinstate Altman got underway soon after his firing on November 17, when the board members led by OpenAI Chief Scientist Ilya Sutskever dismissed Altman and stripped him of his director role, saying “he was not consistently candid in his communications with the board".
BUSINESS
US Drug Shortages: Are generic drugs too cheap for their own good?
While prices of branded drugs have skyrocketed in recent years, generics prices have been falling steadily. Yet there’s a downside if prices fall too low: In recent months, major US manufacturers have declared bankruptcy and scaled back production. Hundreds of generic drugs are now in shortage, including lifesaving cancer treatments and medicines for premature babies
WORLD
With war still raging, Ukraine should postpone its elections
In the absence of elections, Ukrainian officials need to reinforce their commitment to democratic values. Ukraine’s parliament should put measures in place to ensure that free and competitive elections can be held as soon as practicable after the war, allow space for new political voices, and update voting mechanisms.
WORLD
Clearing landmines is critical to Ukraine’s survival
At least 30% of the country is littered with landmines, Amputations in Ukraine are already on a scale of World War I. It could take decades — or, at existing capacity to decontaminate territory, hundreds of years — to make Ukraine’s territory safe
BUSINESS
New guardrails needed to protect green investment surge from counterproductive trade wars
WTO should allow well-designed subsidies that generate broader social benefits, provide timely disclosure of what they’re subsidising, set reasonable limits and impose effective penalties for transgressions. Such a framework would leave room for all to protect vital national interests without resorting to mutually harmful measures
BUSINESS
America is flirting with fiscal breakdown
Federal deficit spending has reached alarming levels. The longer Congress ignores the problem, the worse it will get
WORLD
Japan Mobility Show 2023: China’s BYD takes on Japanese carmakers
The rebadged Japan Mobility Show will be counter-programming of sorts to worrisome trends: the host country may well lose its position as the world’s top car exporter to China, and third-largest economy to Germany this year.
BUSINESS
Claudia Goldin’s Nobel is a win for women and men
The first solo female recipient of the economics prize has blazed a trail by identifying the obstacles to gender equality — and how to overcome them
BUSINESS
Europe’s arsenal of democracy needs an upgrade
A stronger and more coordinated defense-industrial base would boost Ukraine and deter future aggression
BUSINESS
Germany’s economic miracle is now Europe’s malaise
The region’s largest economy needs a new growth strategy
BUSINESS
Don’t write off Ukraine’s counteroffensive. There are signs of a breakthrough
Ukraine's military has pierced Russian defenses in the south, putting it in reach of key targets in Russian-held territories. These gains come even as some Western officials warn the war is nearing a stalemate — and that further shipments of military aid are futile
BUSINESS
To lift the US economy Bidenomics needs to change
Bidenomics believes that the guiding hand of government is indispensable. In confronting challenges such as climate change, sluggish productivity growth and rising inequality, the government’s strategic role is indeed crucial — but its capacity for effective micro-management is far more limited than the president seems to think
BUSINESS
SVB Aftermath: US banks need more capital, not a new rulebook
A less complicated regime, simply requiring higher levels of loss-absorbing equity capital, would be both safer and less onerous. Such a reform would ensure banks have enough capacity to bear inevitable losses, strengthen the broader financial system and free regulators from the need to quantify every potential risk
