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#Gold overtakes Euro as 2nd most important global reserve asset, ECB says. The share of gold in total official foreign reserves increased to 20% due to historically high gold prices and purchases. ecb.europa.eu/pub/pdf/ire/ec…

Oh dear. Uk economy shrinks by 0.3% in April. Worst since Oct 2023 and worse than expected...

Good Morning from Germany, where optimism is picking up. The Ifo Institute has raised its growth forecasts for the country, thx to new govt plans. It now expects the German economy to grow by 0.3% in 2025, slightly up from its previous forecast of 0.2%. For 2026, the upgrade is

Tariffs are a “bad form of tax," Adam Posen says, in terms of the costs compared with the amount of revenue raised, who pays the tax, & the chaos created. “Costs, chaos, corruption are the reasons you don’t use tariffs as a large-scale revenue generator."

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By 2075, the global share of people over 65 will double, reshaping societies. Are we ready, and will aging strain economies or unlock growth? Longevity doesn’t mean decline. How we respond can turn it into a dividend. Read more in F&D. imf.org/en/Publication…

May change with Trump's trade policy, may not change because of Trump's fiscal policy (and Xi's unwillingness to support consumption) & depends a bit on the oil price ... but the scale of East Asia's overall trade surplus is staggering 1/

The Dollar fell further this week because tariffs don't look like they're lifting inflation. In today's substack, I discuss factors that temporarily hold down inflation, including post-COVID residual seasonality. This stuff will fade & inflation will rise. robinjbrooks.substack.com/p/why-are-tari…

Next, we are happy to introduce our Visiting Scholar, Abhiroop Mukhopadhyay! A Professor at the Indian Statistical Institute in Delhi, he explores human capital outcomes in India through innovative pedagogies and household dynamics. Meet our visitors: go.unu.edu/D0wIP

ADB’s Economic Research and Development Impact department is looking for: ➡️Associate Statistics Officer - adb.taleo.net/careersection/… ➡️Associate Statistics Officer (Data Science) - adb.taleo.net/careersection/… #joblisting #hiring #economicresearch #developmenteconomics

Monday morning and Africa is hard at work with skills and enthusiasm: *Checking data in Lagos *Erecting billboard in Johannesburg *Identifying microbes in Monrovia *Growing mangoes in Malawi Whatever your work this week, I hope it's rewarding to you and helps build your community

Renewed US-China tensions could redirect Chinese exports to the #Eurozone, boosting supply & lowering prices; such diversion could cut core Eurozone inflation by 0.3 percentage points over two years; pass-through is strongest for technology & housing goods cepr.org/voxeu/columns/…

On June 19th, PISM (the center I direct at Penn Economics) launches our annual summer open online course. This year’s theme: Foundational Thinkers in Economics. 🧠 econthought.org Over 11 sessions (Tues & Thurs, 11:30am EST), we’ll cover: Xenophon, Aristotle, Aquinas,

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“Social media now main source of news in US…” bbc.com/news/articles/…

Most of the global population decline over the next 25 years will happen in Asia and Europe. China may shrink by over 150 million, with Japan, Russia, and Italy on similar paths. F&D magazine looks at how countries adapt and thrive as populations decline. imf.org/en/Publication…

New UNU-WIDER book out now! 📢 Domestic Savings Shortfall in Sub-Saharan Africa, edited by @KunalSen5 and Rose Ngugi, explores how countries in SSA can strengthen domestic resource mobilization to better finance their development goals. Read for free 👉 go.unu.edu/nNMEq

There's two drivers of Dollar weakness in recent months: (i) policy chaos around tariff announcements; (ii) worry that Fed independence is being degraded. Today's Fed meeting is a reminder that institutional integrity in the US is stronger than many think. The Dollar is oversold.

CEMAC / WB Economic Barometer. Nice breakdown of the external debt by country, with a category for China bilateral and private. worldbank.org/en/region/afr/…

China Flexes Chokehold on Rare-Earth Magnets as Exports Plunge in May—Curbs on magnets used in EVs, jet fighters are at core of recent U.S.-China trade tensions Hannah Miao Rebecca Feng wsj.com/world/china/ch… wsj.com/world/china/ch…