2018-04-20 10:38:00 Fri ET
technology antitrust competition bilateral trade free trade fair trade trade agreement trade surplus trade deficit multilateralism neoliberalism world trade organization regulation public utility current account compliance
Allianz chairman Mohamed El-Erian bolsters a new American economic paradigm in lieu of the Washington consensus. The latter dominates the old school of thought prior to the Trump administration. Most key countries would benefit from embracing domestic deregulation and free trade and open cross-border capitalism. When the Washington consensus turns into blind faith, however, America suffers the major discontents of financial globalization such as subprime mortgage risks in the global financial crisis from 2008 to 2009.
Unemployment surges to unforeseen double digits, capital investment wanes, real productivity protracts, and U.S. residents reap lower disposable income. Secular stagnation emerges from the worst-case scenario where the central bank hits the zero lower bound on interest rates to ease labor-market frictions, whereas, higher prices become inadvertent seigniorage taxes. Political polarization further deepens economic income and wealth inequality.
With socioeconomic advantages such as elite education and political clout, the rich become richer as most of their income and wealth would result from cash dividends and capital gains. El-Erian thus proposes his new consensus on fair trade, artificial intelligence, big data, and greater labor mobility. This new consensus better adapts to the current tech titan dominance in both American labor and capital markets.
If any of our AYA Analytica financial health memos (FHM), blog posts, ebooks, newsletters, and notifications etc, or any other form of online content curation, involves potential copyright concerns, please feel free to contact us at service@ayafintech.network so that we can remove relevant content in response to any such request within a reasonable time frame.
2020-11-17 08:27:00 Tuesday ET

Management consultants can build sustainable trust-driven client relations through the accelerant curve of business value creation. Alan Weiss (2016)
2018-08-19 10:34:00 Sunday ET

The World Economic Forum warns that artificial intelligence may destabilize the financial system. Artificial intelligence poses at least a trifecta of major
2024-04-30 08:28:00 Tuesday ET

Andy Yeh Alpha (AYA) fintech network platform: major milestones, key product features, and online social media services Introduction
2019-08-05 13:30:00 Monday ET

China continues to sell U.S. Treasury bonds amid Sino-U.S. trade truce uncertainty. In mid-2019, China reduces its U.S. Treasury bond positions by $20.5 bil
2019-04-30 19:46:00 Tuesday ET

AYA Analytica finbuzz podcast channel on YouTube April 2019 In this podcast, we discuss several topical issues as of April 2019: (1) Our proprietary
2023-03-28 11:30:00 Tuesday ET

The Federal Reserve System conducts monetary policy decisions, interest rate adjustments, and inter-bank payment operations. Peter Conti-Brown (2017)