Discover and read the best of Twitter Threads about #protectionism
Most recents (5)
7 perspectives on how to deal with potential risks in the post-#pandemic era by Zhou Xiaochuan, former PBC Governor:
new.cf40.org.cn/uploads/202007…
new.cf40.org.cn/uploads/202007…
1. The development of #COVID19 remains the most crucial issue. When formulating economic and financial policies, policymakers must first look at virus development and control.
2. With regard to macroeconomic policy response, policymakers often focus on the short-term effect of fiscal and monetary policies, but they also need to consider the medium effect though the two are sometimes at odds.
According to Zhu Jun at PBOC, in addition to causing a temporary economic shock and standstill, #COVID19 has also brought about profound structural changes in the following aspects:
new.cf40.org.cn/uploads/202005…
new.cf40.org.cn/uploads/202005…
1.1. The pandemic has altered the behavior of #market players and consequently the economic structure. #Consumption behavior and business models are changing.
1.2. Social distancing may inhibit certain traditional offline service industries for a long time, especially those offered by small and medium-sized firms. However, it will also stimulate new demand and bring opportunities to emerging industries.
People trying to draw analogies with the #GreatDepression, wartime, or 70s stagflation are missing the point IMHO 1/x
GD was a ‘sudden-stop’ shock which ended the credit-boom lending to Weimar as the Young Plan looked in jeopardy. Made worse by politics (war debts, etc), #protectionism (Smoot-Hawley), Hoover call to maintain wage-rates, #FX chaos (esp. when Brits left #gold standard) 2/x
The initial slump & ‘secondary (financial vicious cycle) depression’ then perpetuated by #NewDeal boondoggle vote-buying, #FDR capriciousness, & Brain Trust cranks. This was much more a post-#GFC parallel than today’s #ContaminoBay #lockdown 3/x
THREAD: #hina’s opening-up features constant evolution of economic thinking, with different ideas prevailing in different stages of development. Now the focus has shifted from “bringing in” to “going out,” said former #PBOC governor Zhou Xiaochuan in a recent speech: 1/7
As an integral part of China’s opening-up drive, financial opening shares some
similarities with the opening of other industries. But as a lifeblood
industry, it's sensitive by nature and will slow down when uncertainties
are on the rise. 2/7
similarities with the opening of other industries. But as a lifeblood
industry, it's sensitive by nature and will slow down when uncertainties
are on the rise. 2/7
In recent years, prevailing #protectionism, modern technological development & money market sanctions have caused distortions in global market system. This requires us to stop sticking rigidly to traditional thinking when analyzing all the current problems. 3/7
"Modi’s external balancing game is either shrewd and ambitious or naive and dangerous, depending on whom in Delhi you speak to."
Here's a long THREAD with annotated quotes from my recent strategic-geostrategy essay...
brookings.edu/opinions/is-mo…
Here's a long THREAD with annotated quotes from my recent strategic-geostrategy essay...
brookings.edu/opinions/is-mo…
Every few months or so, I get out of my "neighbourhood" shell and take a look at the big picture of India's foreign policy. This 5k words essay focuses on the big Delhi debate: how should India (re)align in an changing world order? I analyze a range of positions... highlights:
"The world order’s volatility has animated the eternal Indian #debate about the tactical terms of strategic diversification ...how exactly should Delhi balance these — competing/conflicting—friends, partners, and allies into a bundle that enhances India’s strategic autonomy?"
