Creative green finance can go a long way in 2023 23 Jan 2023 Rich democracies are keen to help the Global South fight climate change, in part for geopolitical reasons. Though they will struggle to write big cheques, there are ways to make a little cash go a long way, says Hugo Dixon. 2023 is a key year to drive these ideas over the line.
Davos, Inc. finds reasons to be less gloomy 20 Jan 2023 Business leaders gathering in the Swiss mountain resort have plenty to fret about. Still, with China reopening, Europe keeping the lights on and interest rate pressure easing, the overriding emotion is one of relief. Less clear is whether the mood extends beyond the alpine elite.
The fog in the English Channel is clearing a bit 16 Jan 2023 Britain won’t rejoin the EU soon, despite voters’ regrets over Brexit. But if the two sides resolve a Northern Ireland dispute there could be progress on topics such as climate, foreign policy and financial services. Much may have to wait for a new UK government, says Hugo Dixon.
Global energy prices face a turbulent 2023 12 Jan 2023 The cost of natural gas has halved from a peak last year thanks to warmer weather and bulky European stores. In this Viewsroom podcast, Breakingviews columnists discuss why it’s too early for companies and households to rule out further supply shocks and price volatility.
Guest view: Debt fixes can help rebuild Ukraine 11 Jan 2023 Even as Russia’s invasion ravages the country, policymakers need to start planning for reconstruction, write William Rhodes and Stuart Mackintosh. States and private creditors will chip in. U.S.-backed Brady bonds, which helped ease past crises, can provide further relief.
Capital Calls: California flooding 11 Jan 2023 Concise views on global finance: Heavy rainfalls have revealed the cracks in California lawmakers’ disaster spending measures, that have helped to prepare for fires and earthquakes.
How geopolitical shocks will spread in 2023 10 Jan 2023 Traders and chief executives were caught out by shock events in 2022. In this Exchange podcast, Tina Fordham, founder of Fordham Global Foresight, discusses the new risks emerging from China, Iran and Russia this year.
China’s wolf warriors start 2023 in retreat 10 Jan 2023 Beijing has taken the mic away from combative foreign ministry spokesperson Zhao Lijian. His transfer follows other de-escalatory moves like a thaw in trade with Australia and calls for healthier U.S. relations. But it will take years to undo the damage from nationalist trolls.
Polycrisis may lead to polycentric world order 19 Dec 2022 The United States is still top dog. But to contain China, it will need to listen to allies, take account of other powers and avoid throwing its weight around. Such “polycentrism” is the best chance to create order in a world struggling with multiple crises, says Hugo Dixon.
Qatar has got what it wanted from the World Cup 15 Dec 2022 The Gulf state has taken more flak than it would have done had it not staged the soccer tournament, which ends on Sunday. Yet in this Viewsroom podcast, Breakingviews columnists discuss how Qatar’s largely successful event also aids a strategy to make itself globally visible.
Friendshoring makes sense if done in the right way 5 Dec 2022 The United States and its allies want to build up suppliers of goods such as solar panels in friendly countries so they’re not vulnerable to Chinese disruptions or blackmail. To avoid self-harm they should define friends broadly and not attack China economically, says Hugo Dixon.
The bubble in predicting the end of the world 1 Dec 2022 The globe faces multiple threats to peace and prosperity. Several new books address the challenges of enormous debt, geopolitical rivalries and climate change, predicting disastrous consequences. The best thing investors can do is keep a level head, writes Edward Chancellor.
Gulf’s World Cup love-in has uncertain shelf life 25 Nov 2022 Egypt and Turkey used the tournament to smooth over old differences, and ex-rivals Saudi Arabia and Qatar are getting along. Riyadh may even use its new oil heft to put $5 bln in cash-strapped Ankara’s central bank. The risk is new tensions, perhaps over Iran, upend the goodwill.
UK and EU’s new goodwill could be significant 23 Nov 2022 British PM Rishi Sunak wants to improve trade relations with the EU. Progress will only be piecemeal and slow, even if the two sides agree on how to implement their 2019 deal on Ireland. In the meantime small deals are possible, and they could normalise the path to closer ties.
EU gas cap is indirect signal to cut power demand 23 Nov 2022 The bloc’s proposed brake on natural gas prices at 275 euros per megawatt hour is a fig leaf. The ceiling is so high and with such stringent conditions that it may never be activated. Its main use may be to remind EU states their best option is to use energy more efficiently.
The world can harness trade to save the planet 21 Nov 2022 Trade is a major cause of global warming. The solution is to tax commerce in carbon-intensive goods and remove tariffs on clean ones, to support low-carbon technologies, and to do all this fairly. It’s a priority for next year’s COP28 conference in Dubai, says Hugo Dixon.
Indonesia’s green step not yet a leap for mankind 18 Nov 2022 Jakarta will get $20 bln of overseas public and private cash to help it decarbonise. The deal struck at the COP27 summit paves the way to channel capital to poor countries at the required scale. But big foreign transfers are fraught. Lenders have plenty of reason to hesitate.
COP28 may make up for COP27’s shortcomings 17 Nov 2022 The global climate meeting has mostly failed to lure the same corporate big hitters as Glasgow did last year. In this Viewsroom podcast, Breakingviews columnists discuss how even if the gathering in Egypt’s Sharm El-Sheikh yields little progress, 2023 in the UAE could be better.
The shafts of light in a dark, dark world 14 Nov 2022 As the G20 kicks off, there are many negatives: a frying planet, economic crisis, conflict in Ukraine, and maybe a cold war with China. But there are positives too, says Hugo Dixon: Putin is losing, autocrats are struggling, and carbon emissions may peak earlier than expected.
Europe’s pain will be ultimately worth it 31 Oct 2022 The European Union faces a tough period as the energy crisis bites and debt troubles return. But the bloc could have the world’s cheapest and cleanest energy by the mid-2030s and it will probably emerge stronger geopolitically, says Hugo Dixon.