The Semiconductor Cold War
November 15, 2022
On October 7th, 2022, the Biden administration announced new export control regulations, aimed squarely at China’s burgeoning advanced semiconductor industries. The new restrictions on specific leading-edge chip technologies are...
Will Energy Prices Bring Back the Doldrums of the 1970s?
August 12, 2022
The energy landscape has changed since the 1970s. While rising prices at the pump will continue to eat into consumer wallets, the reduced impact fossil fuel prices have on the...
Europe’s Banks Are Almost Healthy Again
May 3, 2022
Europe is trending toward a more American-style capital marketplace, with such funding sources as stocks and venture capital taking on increasing importance. As a result, we expect economic growth in...
What Do You Own When You Invest in Chinese Stocks?
February 1, 2022
Many investors may be surprised to find out that, despite spending money on what they presume to be stock, they do not actually own anything in China. It walks and...
Will Carbon Trading Leave a Footprint?
September 30, 2021
Carbon emission reduction has spurred global investment. Nonetheless, we remain skeptical about carbon trading, both as an effective way to reduce pollution and as a long-term investment choice, judging by...
A Challenging Side Effect of COVID: Government Debt
June 30, 2021
Government debt will continue to be a long-term pandemic side effect, one that investors in international markets may endure safely if they devote increased scrutiny to deficits, tax rates, and...
The Road to the Future Is Paved with Lithium
March 31, 2021
As the world transitions toward renewable power, the lithium extraction industry will take on increasing importance and influence, bringing considerable opportunities and risks for international investors.
Brexit: No Big Deal
December 31, 2020
Despite the handwringing over Brexit, here's why London will remain a leading global financial center, and the U.K. will remain Europe's most innovative economy.
World Trade: More Freedom or More Protectionism?
September 30, 2020
Despite current crises, the drive toward free world trade – and the benefits it brings to nations – seems unstoppable.
As China Pressures Hong Kong, How Should Investors React?
June 30, 2020
China is flexing its muscle, menacing Hong Kong and stirring up geopolitical tension, with broad implications for the financial markets.
Estimating the Pandemic’s Global Impact
March 31, 2020
Our planetary economy last suffered a synchronized recession of this potential magnitude during the Great Depression. But this time, the recession may not be as great, nor the recovery as...
The Case for Optimism: A Global Economy Retrospective — 1999-2019
December 31, 2019
Despite the volatility and chaos of last 20 years, many people will be surprised to learn that our planet and our country are wealthier and more peaceful than at almost...
VIDEO: The Rule of Law: The Most Overlooked Factor by International Investors
October 26, 2019
Why are there only a handful of rich nations? This video explains why the quality of a country's governance helps determine its economic development. Click "Read More" to watch.
Do Emerging Markets Emerge?
September 30, 2019
Despite extended periods of rapid economic growth that can excite investors, history shows that shockingly few countries “emerge” into wealthy, developed economies.
Germany’s Fiscal Austerity: An Impediment to Economic Growth
June 30, 2019
Although the eurozone has enjoyed continuously declining unemployment in recent years, both economic growth and inflation remain stubbornly low. With negative interest rates over the last five years and a...
Another Look at China – The Social Credit System
March 31, 2019
Trust is often missing in developing countries, which China accurately recognized as an economic setback. But China's solution, the Social Credit System, overlooks concepts crucial for developing trust, such as...
Euroscepticism Offering Deep Discounts
December 31, 2018
Euroscepticism refers to someone who opposes increasing powers of the European Union. Concessions made by the most Eurosceptic political leaders in the most indebted countries in the eurozone suggest the...
U.S. Economic Strength Pressures Emerging Markets
September 30, 2018
The Fed raising interest rates in recent years has made the US dollar more attractive relative to riskier emerging market currencies. Despite overall weakness of developing countries’ currencies, some have...
The Euro Will Survive (and Thrive)
June 30, 2018
The single currency pressures European Union countries to harmonize legal differences, lower trade barriers within and across countries, and improve mobility for labor and capital. The eurozone did not start...
The Law Deficit
March 31, 2018
The capital flowing out of China and other developing countries is seeking a safe harbor. We use the capital they export to import their products, but also to inexpensively finance...