KristaleanaHow World Bank leaders put pressure on staff to alter a global indexAn investigation puts paid to the Doing Business rankings, and puts Kristalina Georgieva in the spotlightTHE WORLD BANK’S Doing Business rankings, which are followed closely by leaders in China, India and elsewhere, are supposed to gauge how easy it...
Free exchangeHow America should spend on child careMore money is not a guarantee of successUNLIKE MOST rich European countries, America lacks a coherent public child-care regime. But it has come surprisingly close to having one. During the second world war Congress set up federal child-care centres to encourage women to work...
Pie in the skyLabour’s share in national income is both over- and under-explainedA new paper shows why economists’ understanding of the labour share is murky at bestTHE IDEA that the spoils of the modern economy are unfairly distributed has become part of public discourse in the rich world. One common villain...
The Thales of economicsIs China already the world’s most dominant economy?By one measure, yesIN 2010, WHEN President Barack Obama welcomed his Chinese counterpart to a summit in Washington, DC, he greeted him with a handshake and a swift, shallow dip of the head. The image of America’s president bowing before China...
SchumpeterThe vanishing allure of doing business in ChinaWho will be next?IT IS NOTHING new for foreign firms to endure shakedowns by the Chinese Communist Party. As far back as revolutionary times, Chairman Mao’s victorious troops did not directly confiscate foreign-owned assets as their Bolshevik forerunners had done in Russia. Instead, they...
BartlebyWho needs expats?The case for shuffling staff around was looking stretched even before the pandemicIF CHIEF EXECUTIVES are the monarchs of the corporate world, the cadre of well-paid staff they deploy from head office to oversee operations across the planet are their ambassadors. In the golden era of globalisation, sending an...
Asian supply chainsJapanese companies try to reduce their reliance on Chinese manufacturingBut only a bitAT THE END of the month the production line of a Toshiba factory in Dalian will come to a halt, 30 years after the Japanese electronics giant opened it in the north-eastern Chinese city. Once a totemic...
The other techlashSouth Korea’s government sees tech firms as the new chaebolIt accuses online darlings like Coupang and Naver of picking up the old conglomerates’ bad habitsA FEW MONTHS ago Kim Beom-su looked like the face of responsible capitalism in South Korea. In March the billionaire founder of Kakao, which runs...
An unEpic victoryApple wins a court battle with Epic Games—sort ofIt is not the end of a regulatory war“IN COMPLEX ANTITRUST cases there is rarely a complete win or a complete loss.” That was the prediction of a lead lawyer in the blockbuster antitrust lawsuit pitting Epic Games, the maker of...
The direct approachDirect-to-consumer retailers try to bring pizzazz to dull goodsE-merchants also put profitability ahead of growth at all costFEW FIRMS have spawned an industry. Warby Parker, a millennial-chic spectacles firm, has a decent claim to be one of them. A decade ago the startup pioneered selling products directly to shoppers...
DAX reduxGermany’s DAX blue-chip stockmarket index gets an updateForty is the new 30THE STOCKMARKET index of Germany’s bluest chips is getting a makeover. Any week now the DAX will gain ten new members, bringing the total to 40. The newcomers will be the most valuable German firms not already in the...
Cable tiesAs Americans cut the cord, Europeans sign up for more pay-TVSatellite and cable are now more popular in France and Germany than in AmericaTHE BIGGEST television drama of the past decade has been the story of how people watch it. Ten years ago nearly nine out of ten American households...
Theatre of bloodThe trial of Elizabeth Holmes gets under wayThe former boss of a notorious failed health-care startup could face jailA CROWD OF reporters, drawn by the drama and glamour of the event, jostled outside a courtroom in San Jose on August 31st to witness the opening of what may be...
Can Rivian deliver?An electric-vehicle startup aims for a stellar valuationRivian motors towards an IPOCARMAKING IS sharply divided between the old and new. Recent electric-vehicle (EV) entrants, with Tesla at the forefront, command effervescent valuations largely based on being new and different. The share prices of established carmakers suggest that they will...
The Oracle of AIFlush with billions, Databricks has momentum and big plansSilicon’s Valley’s latest darling is on the move“HI, JUST CHECKING in. Can I put in some more?” The bosses of promising startups are bombarded by such texts these days. Big funds in particular are falling over themselves to grab a...
Free exchangeAt the Jackson Hole meeting, the Fed ponders an uneven recoveryResearch presented at the monetary policymakers’ virtual pow-wow offers guidanceBUSINESS CYCLES are never perfectly symmetric across time and space. Yet they have rarely been as uneven as the rebound from covid-19. Some parts of the global economy are straining to...
Gone today, here tomorrowIndia’s government wants to monetise state-owned assetsOr does it?IN FEBRUARY THE administration of Narendra Modi trumpeted a sweeping plan to privatise India’s corporate jewels. Past governments have made such promises with little to show for it. Yet this time investors’ ears perked up. Covid-19 had drained public coffers...
ButtonwoodTrading in Japanese government bonds is drying up. Does that matter?Trading desks in Tokyo have fallen silent as the Bank of Japan has hoovered up bondsNOBODY BOUGHT Japan’s ten-year government bond in over-the-counter trading on August 3rd. Such a lull in the world’s second-largest market for sovereign bonds would once have...
Homegrown fareRussia cultivates alternatives to Western financial firmsAbroad, though, their homegrown firms are minnowsTHE PRIDE of Russian nationalists was sorely wounded as the Soviet Union crumbled. Russia without communism was not just more like its foe the West, but the country also became beholden to Western financial architecture as it adopted...
Disappearing incentivesEnding pandemic unemployment aid has not yielded extra jobs—yetAmerican states that cut off extra benefits have seen increases in hardship, but not in employmentONE OF THE questions gripping America is the extent to which generous unemployment benefits are distorting the economy. When covid-19 began to spread last year, Congress expanded...

Latest News