China’s President Xi Jinping gave a striking defence of globalisation at Davos in January. This stands in contrast to US President Donald Trump’s attack on globalisation. I thought I’d splice President Xi’s Davos speech with Donald Trump’s key quotes on the topic to produce a remarkable conversation between the two men: Continue reading “An Imagined Conversation Between China’s Xi and Trump”
The British Empire, one of the largest in history, went through several phases. One critical phase was the American War Of Independence when the colonists in the North America broke away from the Empire in 1783. While it did stop British expansion in the west, it resulted in them focusing on the East. Eventually it lead to the British Raj in India and the next phase of the British Empire.
It also saw them have more contact with the Chinese. At the time, the British were allowed to trade in the Canton port (later Hong Long), but they weren’t allowed a presence in mainland China. What many history books fail to mention is that though the British (along with possibly the French) were the largest European powers, they weren’t the largest in the world. Continue reading “What the Chinese Thought Of the British Empire In the 18th Century (2 mins)”
I gave the following lecture to students on the International Finance course at the London Business School on 3 June.
(Biggest movie of 2016)
Let me start with a question. Which movie has made the most money this year in any one country? No, it’s not Captain America: Civil War, it is actually Mei ren yu (The Mermaid). It has so far made $530m in China. This compares to Captain America’s $380m in the US. The reason for highlighting this is to show how big the Chinese economy has become. At over $11trn it is the second-largest economy in the world after the US ($17.8trn) and more than the double next-placed Japan ($4.7trn). Back in 2007 before the financial crisis, China was only a quarter the size of the US, rather than two-thirds the size and it was smaller than Japan. Continue reading “Mermaid Spotted – The Rise of China and Secular Stagnation”
(An excerpt from my book)
The US is the oft-cited innovator. But upon closer inspection, it seems it is only the technology sector, and more specifically Silicon Valley, where the US is the undisputed innovator. So could China create the equivalent of Silicon Valley? To answer this, we need to understand the roots of Silicon Valley. Continue reading “Can China Innovate? (2min read)”
It’s easy to get caught up with the latest management fads, but hard to know which ones will endure. Indeed, Nassim Taleb writes about how time is the ultimate test for the fragility of ideas. So with China in the news, what better ideas to look at than Confucius’, who lived over 2,500 years ago. His sayings are in the “Analects”, which are said to have been recorded by his disciples. What I’ve found is that Confucius was very good at understanding how to get the best out of hierarchical structures, which today would equate just as easily to corporations as governments. So I’ve picked out the best bits for business and modified the language to sound more contemporary: Continue reading “Confucius On Management”
My blog on an alternative view of economic theory turned out to be very popular. So here’s another one in a similar vein, this time it was a speech given to academics and central bankers last summer. It’s a 7 minute read: Continue reading “Imprisoned By Economic Theory, Liberated By Big Bang Theory”