The COVID-19 recession brought to the fore some very unusual and puzzling patterns between different macroeconomic aggregates, with supply side bottlenecks and shortages, record consumer inflation and the unusual coexistence of an unusually tight labour market altogether with record labor slack. The COVID recession itself lasted only two months according to the NBER’s Business Cycle Dating Committee. The fiscal and monetary response to the pandemic has corrected some of its most dire human and economic consequences but it has also led to new imbalances and it has magnified some of the imbalances that existed prior to the pandemic. The combined impact of all these imbalances, direct and indirect effects of the pandemic on supply and demand have shaped a very peculiar COVID-19 related business cycle, giving rise to what one might call “the COVID-19 conundrum”.
According to the data released by China’s National Bureau of Statistics, in Q2 2021, China’s gross domestic product (GDP) reached 28,285.7 billion yuan, recording a year-on-year increase of 7.9% at constant prices and an average growth rate of 5.5% in two years. Table 1. China’s Year-on-Year GDP growth rate (%) years 1 quarter 2 quarter 3 quarters 4th quarter […]
From January to February, due to factors such as the low base in the same period in 2020 , the year-on-year growth rate of China’s economy main indicators is relatively high. Source: NBS Press release 1. The growth of industrial production is accelerating, and the equipment manufacturing industry and high-tech manufacturing industry are growing well. Large enterprises […]
Premier Li Keqiang first outlined the measures taken by the Chinese government in the context of the Covid-19 pandemic whose origin is still unclear but whose first outburst has been witnessed in Wuhan, China. In the face of the pandemic, and in accordance with Party guidelines, the State has formulated and implemented macroeconomic policies which […]
The Consumer Confidence Survey of February 2021 was released on March 4th, 2021 1. Consumer Confidence Index, Consumer Perception Indices The Consumer Confidence Index (seasonally adjusted series) in February 2021 was 33.8, up 4.2 points from the previous month. The categories of the Consumer Perception Indices (seasonally adjusted series), which are comprised of the Consumer Confidence […]
In this episode of Principled Discord, host Thierry Arys Ruiz is interviewing Alexandre Kateb, Economist, Founder and CEO of the “Multipolarity Report” and Adjunct Professor at SciencesPo, on central banks’ relations to innovations, new technologies, and how to navigate this new financial world. Mr. Kateb has discussed how central banks have been hesitant to adopt new financial innovations such as cryptocurrencies as they are often seen as an opposition to central banks.
At a time when China’s Tech Giants have reached and even surpassed their US counterparts, India’s Tech sector lags behind its East Asian rival in scale and scope. Yet, India is among the top three global economies in number of digital consumers. with 560 million internet subscriptions in 2018, up from 238.71 million in 2013, India is the second-largest internet subscriptions market in the world. In this Business Intelligence focus, we explore the challenges and opportunities associated with the ascent of Digital India
Hydrogen as a feedstock for the petrochemical industry Since the first demonstrations of water electrolysis some two hundred years ago, Hydrogen has witnessed many false dawns. As recorded by the International Energy Agency (IEA) in its landmark report on the Future of Hydrogen, commissioned by the Japanese Presidency of the G20 in June 2019, hydrogen […]
What are the key challenges for the US-China relationship with a Biden Administration? MEDays Talk Discussion between Prof. Yong Wang, Andrew Leung and Alexandre Kateb
In order to contain the second wave of the COVID-19 pandemic, most European countries have implemented new lock-downs starting from Mid-October. As the Chart of the Week with data extracted from Google Mobility shows, the new “soft lockdowns” were overall significantly softer than the “hard lockdowns” implemented to contain the first wave of the pandemic, earlier this year in […]