Global Economy

The governor of the Bank of England warned on Sunday that it “will have to act” to curb inflationary pressure, making no attempt to contradict financial market moves that have priced in the first interest rate increase before the end of the year. Speaking from home to the G30 group …

For generations after the second world war, it was a safe assumption that globalisation would continue unabated. The opening of economies, technological advances, cultural exchange and political engagement ushered in one of the most expansive periods of global interconnectedness in history. Despite recent gloomy warnings, there is scant evidence that …

Factory owners in China and their customers worldwide have been told to prepare for power supply disruptions becoming part of life as President Xi Jinping doggedly weans the world’s second-biggest economy off its dependence on coal. Months of shortages have cut power to households in China’s north-east and caused outages …

Authorities in Brazil are growing increasingly concerned over a Chinese ban on Brazilian beef which has lasted more than a month and threatens to decimate exports worth around $4bn per year. Brasília voluntarily suspended shipments of the protein to China — its largest market — in early September after confirming …

Allegations that the head of the IMF manipulated a flagship World Bank ranking to boost China has thrown the organisations into turmoil — and revealed a murky truth about international financial institutions. The likes of the World Bank and IMF are membership bodies with powerful core shareholders, and therefore far …

The writer, a former prime minister of Australia, is the global president of the Asia Society in New York Since coming to power, Chinese president Xi Jinping has had to deal with three overriding priorities. First, a domestic economy that is both slowing and increasingly unequal. Second, an adversarial geopolitical …

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Japan’s new prime minister has pledged to move the country away from neoliberal fundamentalism as he lambasted his own party’s failure to deliver broader growth under the Abenomics programme that defined the economy for almost a decade. In his first interview with international media since taking over Japan’s leadership this …

Leading EU member states are pressing Brussels to draw up tough retaliatory measures should the UK carry out its threat to suspend trading arrangements for Northern Ireland enshrined in the Brexit deal. Representatives of five member states on Monday met European Commission vice-president Maros Sefcovic, the EU Brexit negotiator, to …

Big supply chain news from the US overnight, with Joe Biden saying the Port of Los Angeles will run 24/7 in the run-up to the festive period. The port complex of Los Angeles and Long Beach (which announced a few weeks ago it would operate round the clock) is the …