In an exclusive interview with The Cradle, Russia’s top macroeconomics strategist criticizes Moscow’s slow pace of financial reform and warns there will be no new global currency without Beijing.
By Pepe Escobar and first posted at The Cradle
The headquarters of the Eurasian Economic Commission (EEC) in Moscow, linked to the Eurasia Economic Union (EAEU) is arguably…
Transcript
RADHIKA DESAI: Hi everyone. Welcome to the fifth Geopolitical Economy Hour, the fortnightly show about the political and geopolitical economy of our times. I’m Radhika Desai.
MICHAEL HUDSON: And I’m Michael Hudson.
RADHIKA DESAI: So this is our third and final show on the theme of de-dollarization, based on our work, particularly on Geopolitical Economy that I…
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Editorial
Our Two-track World
Macro analyst Philip Pilkington sees global economic flows forming two tracks: fast for the developing world and slow for us.
China’s inflation is under 2%, the economy is booming, national savings are $9 trillion and diplomatic prestige is high after the Iran-Saudi rapprochement in Beijing. Venture capitalists, many…
By Michael Hudson at Michael-Hudson.com
Support my work via Patreon
When interest rates rise, bond prices fall (and stock prices tend to follow). However, banks don’t have to mark down the market price of their assets to reflect this declining valuation. They can simply hold on to their securities. They only have to reveal the market-price decline…
