Even though extreme poverty has fallen in recent years, economic inequality has grown more pervasive. In a brief note from Allianz Global Investors, the firm underlines this figure: the top 1% of the US population owned more than 38% of the country’s total wealth in 2016,while the top 10% of populations are benefiting disproportionately.
BoAML do not think the Juncker-Trump trade agreement is a game changer. Rather they argue that the deal lowers the near-term risk of an auto trade war, supporting their cautious optimism on Europe. However, the deal is largely symbolic in nature, and as we have seen with past “ceasefires”, it may not last long.
Justin Irving | Copper futures have been tanking of late, sinking from of $3.32 per pound on June 8th, to $2.7 per pound on July 19th, a 19% drop. This drop has largely undone the prices gains the commodity had accrued following the general rise in asset prices in November 2016. Predictably, the financial press have raised the alarm about “Dr.Copper” foretelling a slowing US economy.
China’ s rapid economic convergence is well-documented but a similar catch-up on innovation has often gone unnoticed. “This is partly because of China’s developing-country status, which is not usually associated with where cutting-edge technology is developed”, explain economists at AXA IM.
The new type of labour relations explains the the current high rate of part-time, temporary and self-employed workers (19.4%, 12.2% and 13.7%, respectively, in 2017). “Most of our parents and grandparents spent their whole lives working at the same company where they began their career –something which is unthinkable for young people joining the labour market today”, says analysts from CaixaBank Research.
Spain’s new prime minister Pedro Sanchez is envisaging to increase taxation on banks. Although the project is still in its infancy and needs the support of Parliament, experts at Alphavalue believe the assessment of the impact could be largely watered down.
Yu Yongding via Caixin | Has China violated the rules of the World Trade Organization (WTO) as the U.S. has said? The most reliable answer should be from the WTO itself. On the 10th anniversary of China’s entry to the organization, former WTO Director-General Pascal Lamy said in an interview with the U.S. magazine China Business Review that “China has done really well in terms of implementing its long list of commitments, although no country is above criticism.”
Glenn Ojeda Vega and German Peinado Delgado | Iván Duque’s foreign policy will center on reinforcing ties with Colombia’s traditional allies and securing international support for the administration’s agenda.
In Spain, there are 120 people older than 64 for every 100 younger than 16. This figure contrasts with that at the end of the 20th century, when the country was still young: in 1985 there were 46.7 people older than 64 for every 100 under 16.
The Spanish government intends to close down Spain´s nuclear power stations as they complete 40 years of useful life, a period which comes due in 2028. Endesa, as of now the major nuclear operator in the country, considers it “impossible to dismantle all the power stations at the same time” as the 40 years is completed. On the contrary, Iberdrola goes along with the government’s theory and sees that it is “perfectly practical”, and will have no impact neither on the supply nor prices.