Martin Hutchinson covers emerging markets and economic policy, drawing on 25 years of experience as an international merchant banker. He ran derivatives platforms for two European banks, before serving as director of a Spanish venture capital company, advisor to the Korean conglomerate Sunkyong and chairman of a US modular building company. In Zagreb he established the Croatian debt capital markets and set up the corporate finance operations of Privredna Banka Zagreb. Since 2000 he has been a financial journalist, and is the author of "Great Conservatives," a book on British political history. He has a first class Honours degree in Mathematics from Trinity College, Cambridge and a Harvard MBA.
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The Senate is debating removing the state monopoly on drilling and creating a sovereign wealth fund. Letting outsiders control wells and log reserves should appeal to Big Oil. It’s a smart way to reverse the past decade’s 25 pct output drop while keeping proceeds.
America added 203,000 jobs last month and the unemployment rate dropped to 7 pct, adding to strong data like the third-quarter GDP growth rate of 3.6 pct. Reduced labor participation and sluggish wages are headwinds to a full-on recovery. But even a little normality is a relief.
Nelson Mandela, dead at 95, was a brave leader who was too timid economically. Avoiding the errors of others, he set post-apartheid South Africa on course toward being a mostly free market with stable finances. Unfortunately, he also left the country slow-growing and unequal.
- Healthy U.S. GDP growth more mirage than reality
- Brazil's GDP decline is fiscal wake-up call
- Canadian economy far from loony
- Venezuela's cursed rule prolonged by resources
- Open Bernanke converging with opaque Greenspan
- U.S. can afford to inflation-proof seniors' income
- Will the real Michelle Bachelet please stand up?