Hillary Clinton made a mistake when she put half of Donald Trump’s supporters in a “basket of deplorables.†She had already given her big speech on Trump’s ties to the alt right. And she had talked before about some of his supporters being “deplorable.†You could even read her remarks as an attempt to persuade liberals to have more ...
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Spain’s political mess isn’t dysfunction
Spain faces the choice between a third general election in a year or a government based on some painful, improbable compromises. At first glance, this looks like a case study on the dysfunction of European parliamentary democracy. It is, however, nothing of the kind. I’ve heard many Americans say that whoever wins the presidential election, the country will more ...
Read More »Pyongyang’s ‘grave threat’ may be next US prez’s first big test
North Korea’s latest nuclear test triggered diplomatic aftershocks in Asia — and a growing concern that the volatile regime in Pyongyang may pose the first big test for the next U.S. president. Last Friday’s test was the fifth and largest nuclear device North Korea has detonated, estimated at 10 kilotons, and it came defiantly on the 68th anniversary of ...
Read More »Globalization of the world economy hits a wall
For the first time since early 2014, the dollar value of goods imported and exported by the G-20 countries actually grew a little in the second quarter of this year, the Organization for Economic Cooperation and Development reported last week. This is probably just because oil prices bounced back a bit after hitting a 12-year low in the first ...
Read More »Smart immigration policy for a post-Brexit Britain
A key demand of Brexit voters was to take back control of the U.K.’s immigration policy. Prime Minister Theresa May has promised she will —but hasn’t said what she’ll do with this control once she has it. Many Brexit supporters are hoping for a severely restrictive system. This would be a mistake, and May ought to say so. Liberal ...
Read More »Free zones can enhance strength of SMEs
An allocation of AED5 billion in contracts to small and medium enterprises (SMEs) announced by Dubai Expo 2020 manifests the importance that the UAE gives to the sector. The recent federal bankruptcy law is also aimed at boosting investment by SMEs to vitalize the country’s business landscape. Today, the segment is contributing 60% to the GDP of the UAE ...
Read More »What Clinton could learn from Boris Yeltsin
The failure of Hillary Clinton’s campaign to disclose that she has come down with pneumonia amplifies the parallels between this U.S. presidential election campaign and the 1996 contest that opposed the first Russian president, Boris Yeltsin, and the Communist leader Gennady Zyuganov. The two presidential races are similar in their negative framing. In Russia 20 years ago and in ...
Read More »Bond markets hit a new ‘Ukrainian Chicken Moment’
Two European companies — French drugmaker Sanofi and German household products maker Henkel — last week became the first firms to persuade investors to pay them to borrow euros. By selling bonds yielding minus 0.05 of a percentage point, they may well have signaled the bond market’s peak, delivering this decade’s equivalent of the “Ukrainian Chicken Farm Moment.†That ...
Read More »Don’t assume robots will be our future co-workers
Of all the economic questions being debated today, the most frightening one is “Will the robots take our jobs?†This nightmare scenario comes in several flavors. The extreme version is that automation simply makes human workers obsolete, just as cars made horses redundant. A less apocalyptic possibility is what economists call “skill-biased technological change†— people who are technically ...
Read More »Britain’s experts are invested in a Brexit disaster
David Davis, the U.K.’s new Secretary of State for Exiting the European Union, made a statement to the House of Commons this week on the meaning of “Brexit means Brexit.†Commentators were roundly unimpressed. If I may be allowed to say, their apparent determination to be unimpressed is beginning to grate. To be sure, the complaints were partly justified: ...
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