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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A new IMF study finds inequality makes economies smaller. Efforts to redistribute income may make growth higher and more sustainable. That looks right. But the challenges are huge. Governments must be honest and get the policies right. The study’s lessons could be misapplied.
The latest growth report shows consumer spending up a little and business investment up a lot. As more confident businesses invest, they should boost productivity, wages and then spending. It’s a slow process. In the meantime, “lower for longer” interest rates look justified.
“Decoupling” has turned upside down. Soft Chinese manufacturing, a weaker yuan, rising Indian interest rates and political unrest look ominous for emerging economies. Meanwhile U.S. data reassures and even the euro zone is a bit better. The mix looks bad for asset prices.
- UK disinflation will delay rate rises
- British weather is terrible - but it's not Katrina
- Markets may flare again without Fed and ECB hoses
- Minimum wage can’t supersede need for less greed
- Emerging vacuum a harbinger of global downdraught
- UK GDP another blow for economics’ physics envy
- UK’s guidance flop means markets must think again