Víctor Yepes Piqueras (Polytechnic University de Valencia) via The Conversation | Maintaining infrastructure in an adequate state of conservation and maintenance is a first order necessity in any society. However, those responsable for this task are not devoting to it the necessary attention and resources.
(University of Varwick) via The Conversation | US president Donald Trump’s erratic and disruptive foreign policy is putting more pressure on the EU to uphold the international liberal order. The EU is beginning to realise this and move up a gear in many of its external policies. But the bloc’s most prominent strategies don’t, at the moment, defend a particularly liberal notion of global order.
Jerry Davis via The Conversation | On Aug. 2, Apple became the first U.S. public corporation to achieve a US$1 trillion valuation, making it the largest company in the world – by one measure at least. But what exactly defines a “megacompany”?
Shaun Riordan | The currency markets seem to have given the Turkish Lira a temporary respite. But the underlying problems remain the same: an unsustainable current account deficit; excessive dependence on foreign currency denominated (especially dollar denominated) debt; and high inflation.
David Page (AXA IM) | We believe the US has been using tariffs primarily as a negotiation tool; China appears a special focus. But domestic political motives also appear to be a driver.
The dangerous rise of carbon emissions coupled with greater energy efficiency driven by the evolution of battery technology is building momentum towards acceptance of electric cars globally. For analysts at Wisdom Tree, “the proliferation of Electric Vehicles will be tied to the initiatives from governments across the world as they rely on supplementary grid infrastructure.”
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.