Sunday Supplement: 26 July 2020

‘Sunday Evening’ Russell Drysdale, 1951, Art Gallery of NSW

Macro & Markets

• No end in sight to the US-China confrontation – DW
• Apple tax ruling for Ireland shines light on global tax avoidance – DW
• OK Boomer, We’re Gonna Socialize You – Bloomberg
• US dollar at risk of sudden collapse? Ex-IMF official warns ‘blow-up event’ could sink currency as debt mounts – SCMP
• US-China trade: negotiators set to hold talks on progress of phase one deal – SCMP
• The Stimulus Rally In Oil Isn’t Over Yet – OilPrice
• From American to European Exceptionalism – Project-Syndicate, Roach
• Whose century? – London Review of Books, Tooze

Asia

• Australia’s spot as China’s top source for iron ore under threat as new mega ports open door for Brazil and Africa – SCMP…time for a ‘mega port levy’ on exports?…
• Armenia-Azerbaijan escalation shakes the Caucasus – Asia Times
• China to slash private lending rate cap from 24 per cent in effort to tackle ‘usurious loans’ – SCMP
• China’s fiscal dilemma – Interest.co.nz
• Erdogan’s power to ban layoffs in Turkey extended to July 2021 – BNE Intellinews
• Uzbekistan returns to its roots with cannabis cultivation – Eurasianet
• China’s economic recovery from coronavirus impact set to signal dialing back of monetary stimulus measures – SCMP
• China warned to prepare for ‘big rise’ in bad loans as financial system braces against coronavirus, rising global tensions – SCMP
• China’s plan for 2.5-day weekend to aid coronavirus-hit economy met with mixed reactions – SCMP

Americas

• The Fed Needs to Focus on Employment – Bloomberg, Kocherlakota
• Fed hoped to skirt a second virus wave. Small businesses may sink in it – Reuters
• We’re All in Big Trouble Without Renewed Jobless Benefits – Bloomberg, Smith
• These Four Elements Map Out Sound Fiscal Policy – Bloomberg, El-Erian
• The Paycheck Protection Program Was a Flop – Slate
• The Essential Trade-Off: America’s pandemic policy is built on choosing money over lives. – Slate
• The Declining Power of the American Passport – The Atlantic
• Now We’ll Know What the Recession Feels Like – The Atlantic
• Landlords are encouraged to think creatively as 28 million Americans face eviction – CNBC
• Millions face homelessness as end of eviction moratorium looms – CBSnews

Europe

• Almost 1,000 apply for receptionist job in Manchester – BBC
• Russian Gas Giant Gazprom To Start Producing Clean Hydrogen – OilPrice
• UK private sector output growth hits five-year high – Guardian
• Here’s an idea that could earn the government £400bn in 25 years – Guardian, Pratley…capital gains on primary residence needs to be looked at…
• The U.K.’s Response to Covid-19 Has Been World-Class – Bloomberg, Cowan
• Our slum future: the planning shakeup set to blight English housing – Guardian…could easily happen in Australia…
• UK government accused of being ‘slow’ to react to risk of Russian interference – RTE
• Bank of Lithuania issues the world’s first digital collector coin – BNE

Terra Specufestorus

• Australian farmers call for separation between foreign relations and trade ties with China – Guardian
• Australian retailers urge government to broaden employers’ power to cut workers’ hours – Guardian
• Sydney auditors still licensed in Australia after being banned in US over work on renewables firm – Guardian
• Pandemic has blown the tyres right off that old Coalition debt truck – The Conversation, Grattan
• Five things you need to know about today’s economic statement – The Conversation
• These budget numbers are shocking, and there are worse ones in store – The Conversation, Martin
• Eye-wateringly bad, yet rosy: why these budget numbers will get worse – The Conversation
• Vital Signs: Victoria’s privatised quarantine arrangements were destined to fail – The Conversation
• Progressive in theory, regressive in practice: that’s how we tax income from savings – The Conversation
• Australia labels China’s claims to South China Sea illegal – Ninefax
• Federal Treasurer forecasts difficult economic recovery after coronavirus recession amid slump in population growth, low interest rates – ABC
• Coronavirus stimulus measures like JobKeeper are keeping zombie businesses alive, warn insolvency practitioners – ABC
• Job applications near 300 per white-collar vacancy, with recruiters saying it’s never been this tough – ABC
• AI Unveiled: another propaganda service for Defence, big business and the Coalition – Michael West…Innes is a fraud, we’ve known that for a long time…
• Hesitant and dithering: The void at the heart of the government endangers the nation’s future – Ninefax
• Workplace insecurity pervades the whole economy, just when every job is under threat – Guardian
• Morrison has outrun the avalanche but crisis remains – Ninefax
• The loophole that lets you ‘keep’ almost the full $1500 JobKeeper payment – Ninefax

…and furthermore…

• Amateur investors: ‘I didn’t know I’d lose money so fast’ – BBC
• Why COVID-19 is killing U.S. diabetes patients at alarming rates – Reuters
• Obesity increases risks of death from COVID-19 – Public Health England – Reuters
• Will the gold price surge spur high-value mine discoveries? – DW
• Intel is making a mockery of reshoring – Asia Times
• Hybrid electric EAG plane promises to be ‘whisper quiet’ – Asia Times
• The First Undeniable Climate Change Deaths – Slate
• A Vaccine Reality Check – The Atlantic
• Yangtze deluge tests limits of Three Gorges Dam – Asia Times
• Quantitative easing is surely driving down interest rates and in time will most likely lead to inflation. Whether it will stimulate the economy is much more problematic – Interest.co.nz
• Scientists reveal first-ever photo of a solar system like ours – CBSnews
• Researchers trained dogs to sniff out COVID-19 infections in just a few days – CBSnews
• A Marshall Plan for Planetary Health – Project-Syndicate
• The flexible work fallacy – Aeon