“Our earth is degenerate in these latter days: bribery and corruption are common; children no longer obey their parents; every man wants to write a book, and the end of the world is evidently approaching.” These words were inscribed on an Assyrian tablet nearly 5,000 years ago. Doom-mongering is once again back in fashion. There’s even a vogueish new term, “polycrisis”, to describe the multiple threats confronting economic prosperity and modern civilisation.
”, argues that ultralow interest rates in the years after the 2008 global financial crisis inflated a number of asset price bubbles and contributed to the buildup of leverage, widespread misallocation of capital and undue risk-taking. The ensuing systemic fragility makes it extraordinarily difficult for central bankers to return interest rates to historically normal levels without crashing the economic system.
”. Dalio, the billionaire founder of Bridgewater Associates, examines the conditions under which dominant countries have historically ceded primacy to upstart nations. He concludes the decline of a great power is characterised by an excessive accumulation of debt, a loss of competitiveness, rising inequality and internal discord. The eclipse of a global hegemon is often accompanied by external conflict as an aggressive upstart fights its way to the top.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Breakingviews - Jiang Zemin made China richer and more unequalJiang Zemin, who died on Wednesday, catapulted China into the modern world. During his 15 years as Communist Party chief, president and head of the army, China embraced entrepreneurs, nurtured markets, and alleviated poverty for millions. But Jiang also helped create the problem that has vexed his successors: yawning inequality. And his death comes at an inconvenient time for the current president, Xi Jinping.
Read more »
Breakingviews - ASOS bonus tweak stores up longer-term woesCash is king for ASOS’s newish chief executive. On Tuesday, the 653 million pound fast fashion retailer changed the targets for José Antonio Ramos Calamonte’s bonus next year. The portion of the up to 1.1 million pound payout linked to revenue growth will fall to 15% from 30%. Meanwhile the share linked to cash flow has been upgraded to 35%, and cost cuts will also be rewarded.
Read more »
Breakingviews - Eni’s $6 bln Neptune swoop will be a haggle-festEni is hunting for a bargain in the North Sea. Italy’s $52 billion oil major is mulling a bid for oil and gas producer Neptune Energy, Reuters reported on Wednesday, for an equity value of around $5 billion to $6 billion. Given Neptune’s owners CVC Capital Partners, Carlyle and China Investment Corporation last year wanted to list the business for $10 billion, Eni may have to haggle a bit.
Read more »
Breakingviews - Musk’s Apple fight could be his Twitter legacyElon Musk doesn’t just want to force changes at Twitter. The social network’s new owner is now targeting Apple , the smartphone giant he has vowed to eclipse in market value. Musk isn’t the first to complain that Apple acts as a gatekeeper for companies distributing apps through its platforms. But his social-media megaphone makes him a powerful foe. Putting pressure on Apple’s business model could be the most durable outcome of his $44 billion foray.
Read more »
Breakingviews - China property bailouts leave most out in the coldPresident Xi Jinping is wrapping up his massive property stress test, but it looks like few have passed. On Monday Beijing announced homebuilders can use equity financing again, lifting a ban in place for years as Xi tried to rein in property prices.
Read more »