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Why China is foot-dragging on economic reforms

In late February, hundreds of coal miners in Anyuan, where Mao Zedong first organized workers for the Great Strike of 1922, protested against their state employer over low wages and even poorer working conditions. On Wednesday, China wrapped up its most important legislative meeting of the year, announcing sweeping free market initiatives for economic recovery and long-term growth. Though clearly ...

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Boomtowns are where the recovery is happening

I spend a decent amount of time traveling around the U.S. speaking at conferences and visiting clients. Doing this is a visceral form of economic research — you can witness just how various regions are recovering and expanding with your own eyes. It doesn’t take much to realize that, to paraphrase science fiction writer William Gibson, the recovery is here, ...

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Why Canada is dumping its gold — and China isn’t

Canada, home to some of the world’s largest gold-mining companies, recently announced that it had effectively liquidated all of the country’s holdings of the shiny metal and is moving to what a government spokesperson described as “easily tradable” assets. It has been a long process. Canada held 1,088 tons of gold in 1955. By 2000, it was down to 46 ...

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