Ian Campbell taught English at the Université de Poitiers before studying economics. He was Chief Economist, Emerging Markets at ABN AMRO Bank, Head of Latin American Research at BancBoston Securities and Regional Director, Latin America at the Economist Intelligence Unit. Since becoming a journalist in 2000 he has written for The Washington Post, The Times, The Independent, The Economist, The Globe and Mail, The Chicago Tribune, The New Statesman and other publications. From 2000 to 2003 he was Economics Correspondent for the UPI press agency. He has recently returned to the UK, where he is writing a book on rural Mexico.
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George Osborne can boast that the UK economy is growing and the deficit is diminishing. But the recovery is too typically reliant on house price inflation. The chancellor’s budget update should aim for radical change: getting finance to work for house building, not house bubbles.
The British premier’s restrictions on visitors from Eastern Europe betray a fear of losing votes to the UK Independence Party. But clamping down on immigration is leading to policy inconsistency. It harms British business and risks reducing earnings from tourism and education.
Investor demand for gold is likely to continue falling as Fed tapering pushes up market interest rates. That may in turn affect demand from central banks in emerging markets. Asian jewellery demand offers gold an eventual salvation – but probably below $1,000 per ounce.
- Lower inflation can spur global growth
- ECB adds to bubbly markets’ risky lack of fear
- Austerity hasn’t held back UK growth
- UK risks return to 1980s labour battles
- De-Americanized world economy is a long way off
- Global snowbelt leaves the world behind
- UK’s politicians race to the bottom on policies