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.
2025-06-05 00:00:00 Thursday ET

Former New York Times team journalist and Pulitzer Prize winner Charles Duhigg describes, discusses, and delves into how we can change our respective lives
2025-10-05 17:31:00 Sunday ET

Stock Synopsis: With a new Python program, we use, adapt, apply, and leverage each of the mainstream Gemini Gen AI models to conduct this comprehensive fund
2020-03-05 08:28:00 Thursday ET

The Stanford computer science overlords Larry Page and Sergey Brin design and develop Google as an Internet search company. Janet Lowe (2009) Google s
2019-08-04 08:26:00 Sunday ET

U.S. and Chinese trade negotiators hold constructive phone talks after Presidents Trump and Xi exchange reconciliatory gestures at the G20 summit in Japan.
2019-10-17 08:35:00 Thursday ET

The European Central Bank expects to further reduce negative interest rates with new quantitative government bond purchases. The ECB commits to further cutt
2018-06-21 10:42:00 Thursday ET

Harley Davidson plans to move its major production for European customers out of America due to European Union tariff retaliation. European Union retaliator