Mike Norman Economics

 Even though China’s financial system is not terribly transparent, and English language reporting on China’s politics should be taken with a fistful of salt, regulators stomped on a globally high-profile company widely deemed to be one of China’s stars to send a message. And even from the other side of the world, mediated through the Anglo press, the message seems very clear: China is going to leash and collar businesses, whether banks or fintech players, that profit by giving consumers high...

Covid-19 is drawing a sharp wedge not only between China and the rest of the world, but also between China and its hinterland. It is yet to be seen how this will play out both geopolitically and in economic terms.Real-World Economics Review BlogDeveloping Asia: The growing divergence between China and the restC. P Chandrasekhar and Jayati GhoshSee alsoChina’s rise reflects a bourgeoning global movement away from U.S. imperialism and toward [national] self-determination. MR OnlineAmerican...

On Tuesday (November 3, 2020), the Reserve Bank of Australia made its monthly announcement with respect to the conduct of monetary policy. The governor Philip Lowe released this – Speech – to announce the decision. There were four elements to the decision, which I will explain. But the most significant aspects of the decision was to set the support rate on excess reserve balances to zero and increase their government bond buying program by 200 per cent. And the most significant aspect of...

Sino-American trade war recap.Eurasia ReviewThere’s A New Front In US-China Trade And Tech War – AnalysisAarshi Tirkey, Observer Research Foundation

A new era of technology is being defined right now—and not only by the “magnificent seven” tech giants that are collectively worth $7.7 trillion.Instead, it’s being defined by a new generation of tech-driven companies that operate across multi-trillion-dollar industries … and target the trillions of dollars that Big Capital is shifting into ESG, or “impact” investing.These next-gen tech companies create entire “ecosystems”, some with unlimited verticals …And they de-risk by focusing on...

Legal machinations notwithstanding, Donald Trump is done. Joe Biden will ultimately be declared the winner. And this is what it likely means for the markets. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286 Mike Norman Twitter https://twitter.com/mikenorman

Neoliberalism still rules. Fiscal conservatism waits in the wings.Bond EconomicsStatus Quo Election And Another Lost DecadeBrian Romanchuk

Backgrounder of the pros and cons. Basically, fintech makes more services available to the public and is competitive with banks, but the result of fintech centralization is increasing inequality and also financial risk that adds to systemic risk.Project SyndicateAnt Group’s Long MarchShang-Jin Wei | Professor of Finance and Economics at Columbia Business School and Columbia University’s School of International and Public Affairs, and former chief economist at the Asian Development Bank. ...

It’s Wednesday and so only some snippets today. First, a video of a seminar I participated at the other day where we talk about the future of Europe (and the World). Second, some working papers that might be of interest. And finally a music segment. I felt like posting the 1980s song from The Vapors – Turning Japanese – after the Reserve Bank of Australia announced yesterday they were now modelling their monetary policy interventions of the excellent template that has been pioneered by the...