Links September 11

Global Macro:

  • The flowering welfare state in Asia. The Economist. Must read.
  • With China, the Trans Pacific Partnership is a road to nowhere. Asia Times
  • The mystery of Jackson Hole: central bankers wonder why success eludes them. The Economist
  • 11 years after 9/11. Pakistan Dawn.
  • Al Qaeda warns of attacks on Syria. Globe and Mail

United States:

  • Climate change challenges power plant operations. Washington Post. Expect a lot more of this.
  • America doesn’t have a healthcare spending problem, it has a healthcare productivity problem. Washington Post. And a healthcare equality problem I might add.
  • Romney struggles to gain traction in battleground states. Wall Street Journal
  • Consumer credit shrinks in July. Bloomberg


  • Timely default is Europe’s answer, not buying time. VoxEU. Apologies if you’ve already seen it, worth further attention.
  • And it’s actually Jens Weidmann who’s winning the debate on policy. Wolfgang Munchau
  • German court decision looms for European Stability Mechanism. Bloomberg


  • Pro-Beijing parties win more seats in Hong Kong. New York Times. Chinese democracy.
  • China’s shades of grey. Jamestown Foundation
  • China stimulus is wishful thinking. FT Lex
  • A Chinese growth Rorschach test. FT Alphaville
  • So what is China’s ‘new normal’ growth rate anyway? Simon Rabinovith, FT
  • Are Chinese banks hiding the mother of all debt bombs? The Diplomat. This will be a red rag to the bears.
  • It gets worse. The ten grave problems facing China. The always interesting Geremie Barme
  • More: population and the challenges of Chinese growth. East Asia Forum
  • And slowing industrial output complicates Chinese easing. Bloomberg
  • That’s not all. Loan rollovers mount in China. Wall Street Journal
  • Unsurprisingly, China’s economy shows more frailty. Wall Street Journal
  • Meanwhile, Pyongyang mulls currency reform. Asia Times
  • Lessons from Japan on urbanisation and productivity. VoxEU. Considering the above, China is no doubt reading.
  • If you haven’t already had enough, check out our even bigger set of China links from Sinocism later today.




  1. Climate change challenges power plant operations.

    I remember when I stopped at Hoover Dam a couple of years ago while I was living in the States, one of the first things that leapt out at me was how much lower the current water level is/was compared to the “tide marks” on the surround cliffs. Particularly when you look further upstream and realise just how much water that would be.

    Though when you start to think about cities like Las Vegas and Phoenix, it’s not really all that surprising they have water problems.

  2. roylefamilyMEMBER

    Singapore is helping people to flog their homes rather than to tidy them. It is offering S$20,000 ($16,000) to over-54-year-olds if they sell their flat, save the proceeds and move into one of the small studios the government is building.

    A home sellers grant! What a good idea.