A weak domestic economy and structural shifts in global trade since the pandemic have triggered a massive slump in China’s trade performance.
Australia has benefited enormously from globalisation. But Treasurer Jim Chalmers says the old models don’t apply as well as they did.
“So much of who we are and how we understand the world is related to the stories we receive. If we are vulnerable to bad stories,we can do horrendous things,” he said.
Splitting the trading world into good guys and bad guys would not suit us,nor our region.
Economics may seem more about impersonal concepts than people,but models and theories can sometimes miss the bigger picture.
Medical device companies receiving more in government subsidies than they pay in tax strengthens the case for the government’s planned crackdown on multinational companies.
There’s three reasons to believe that globalisation will go backwards in the years ahead. One of them is the growing realisation that the world is a dangerous place.
These are the real sea monsters:waves so tall they can block out the sky. So what happens when waves go “rogue”? Why do they strike out of nowhere? And how do sailors survive them?
As the pandemic and the war in Ukraine continue to weigh on trade and business ties,a shift away from globalisation could have important implications for inflation and the world’s economy.
As the world becomes a more dangerous place,things we take for granted,like global trade in food,may be far more vulnerable than anyone realised.
After 75 years of dollar dominance,the world risks splintering into rival blocs led by the US and China.