It’s official. The US is now a rogue nation. It has started a trade war with the whole world. There is no, repeat no, trade war between countries going on in the world. It is between the US and all the other countries it trades with, including its closest allies since the Second World War. …
UK Spring statement 2025: little room for manoeuvre
Rachel Reeves’s budget statement in response to the Office for Budget Responsibility (OBR) update aligned with what was widely flagged ahead of the event. However, it highlighted just how little room there is for manoeuvre in the government’s fiscal projections and how vulnerable the plans are to unfolding events. Admittedly, huge geopolitical and geoeconomic changes …
Continue reading “UK Spring statement 2025: little room for manoeuvre”
Trump, Tariffs and the new world order
Economists generally agree on few economic theories, but the negative impact of tariffs is one of them. The theory advocating for free trade without tariffs or barriers between countries was first articulated by Adam Smith in 1776 in “The Wealth of Nations,” showing that even if a country has an absolute advantage in producing goods, …