US attempts to de-risk tech from China are expanding in scope. 🇳🇱 has dealt with US export controls for years, but they're now ensnaring more EU countries, esp 🇩🇪. EU countries lack a strategy to respond. In a new paper, Zach Meyers and I provide some ideas.🧵

The world has changed. Unfettered globalisation and the hope of systemic convergence are gone. Economic security is the new buzzword. What does it mean for Europe? My new Bruegel CEPR report with B. Weder di Mauro and Jeromin Zettelmeyer cepr.org/voxeu/columns/…

Here's a good primer on Labour's economic policies, for those who are that way inclined. smf.co.uk/publications/l…

Bit odd that this Centre for Policy Studies op-ed doesn't mention any of the benefits of electricity imports - cheaper power and *more* energy security as other countries' surplus helps offset intermittent renewables. thetimes.co.uk/article/uk-can…

1. Obviously Jared Bernstein flubbed this particular question about how (and why) money gets created. But I sympathize, because it's a difficult question, one that MMT proponents OVER-simplify. So let me take a stab at it.

Good piece by Roger Cohen on the radical right in Europe nytimes.com/2024/05/05/wor…

Very Short Introductions have enormous American editions! They do have bigger houses to put them in.

Very good thread by Ed. And this is only looking at raw data and compare with its past. The causal analysis puts Britain in a much less admirable position as a free trader…as everyone else has had a trade boom while Britain missed it.

Tweeting again because it's such a comprehensive summary.

I just spent a week in Beijing, for the first time in many years. A few thoughts. The war in Ukraine is creating huge strains in China's relations with the US and the EU. This is because the war has pushed China into closer alignment with Russia, Iran and DPRK. /1 CER

Comprehensive look at Kemi Badenoch's trade boosterism.

Again, Kemi Badenoch is correct here. Exports have risen 2% in volume terms since 2018 (ie significantly slower than trend/pre-Brexit forecast).

Entirely consistent with consensus amongst credible economists (and OBR analysis) on negative impact of Brexit on trade/GDP.

The UK is doing really poorly in exports of goods relative to other countries. From our future paper, this figure illustrates this point very clearly. Gold is excluded :)

Can I be dispiritied by how hatefully reductionist AI is? Every time I open this series of essays on Labour and the Economy by the Social Market Foundation the bot says 'don't bother reading, I'll synthesise the key takeaways' . Piss off, bot. I want to read them.

smf.co.uk/publications/l…

Intriguing piece by Sander Tordoir and Zach Meyers, proposing a EU-US-Taiwan-Japan 'chip club' to co-ordinate anti-China moves and prevent the US from interfering in EU chip supply chains.
euractiv.com/section/digita…

Including quote from me. Short sighted spending control at the expense of growth & opportunity. Likely that the average employee qualified to level 2 is now cut off from free training to level 3. Disappointing.

It is an important question whether Murdoch's people were hacking the phones of MPs who were investigating them for ... phone hacking.

A question to macroeconomists. Wasn't the mismatch between demand and supply unforecastable, given that we didn't know how disrupted supply chains and labour markets would be, and we didn't know Putin would invade Ukraine? So err on doing to much ...
ft.com/content/0c547b…