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Anthony Rowley
Anthony Rowley is a veteran journalist specialising in Asian economic and financial affairs. He was formerly Business Editor and International Finance Editor of the Hong Kong-based Far Eastern Economic Review and worked earlier on The Times newspaper in London
The US dollar is too central to the global financial system for the so-called Mar-a-Lago Accord to find traction outside the US. But the search is on for alternatives.
As Asean members modernise their militaries, the bloc could be sacrificing its cherished norms of stability and consensus.
Those aiming to raise defence spending should ask where the money will come from and remember needs like infrastructure and climate change.
With rival initiatives lacking substance, Beijing’s transcontinental project is likely to expand as the US exits multilateral commitments.
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As stock markets play a disproportionately large role in influencing the fortunes of economies, a correction could be on the horizon.
Many governments have difficulty funding basic needs while meeting global challenges like climate change. Meanwhile, businesses freeload.
Conflicting monetary goals and budget constraints will undermine the administration’s ability to exert influence from a position of strength.
As US tariffs undermine other countries’ exports, their ability to import and meet the demands of supply chains will start a chain reaction.
While some want a return to trade norms, not many are willing to consider if yesterday’s liberalisation craze was ever sustainable.
Investors must demand institutions direct their savings into developing or emerging markets where they can benefit global economic welfare.
While it’s hard to predict the outcome of US president-elect’s nationalist economic strategy, all signs point to self-inflicted damage.
Despite increased levels of international engagement, governments are unwilling to make concessions on sovereignty even in the global interest.
From Eurasia’s vast potential to growing new development banks, emerging market economies are carrying more weight in a global economy.
The US simply cannot afford to sustain its dominance so there’s no real danger, but pandering to Trump’s vanity could have its rewards.
Leaders and policymakers should not be swayed by calls to pivot to cryptocurrencies when gold is as strong as ever.
National leaders seem to have forgotten that autarky is incompatible with the high levels of prosperity enjoyed in the post-war era.
Free capital flows accelerate economic growth but can also be destabilising, spreading jitters via financial markets.
The world still lacks an institution with the authority to enforce financial commitments, but policymakers are at least starting to realise the size of the problem.
US-China decoupling and trade diversification across the Asia-Pacific mean Trump’s tariffs are no longer capable of mass destruction.
In matters of open trade, Asian policymakers can no longer rely on the IMF, which is now advising Asia to focus on building domestic demand.
Tokyo’s power vacuum, and questions over Japan’s policies and its relationship with the US under Harris or Trump, could have deeper economic impacts.
The lack of financial market volatility amid economic uncertainty related to geopolitical risks should worry more people.
The West and its institutions are deluded if they think ignoring the Global South’s demands and preserving the status quo will work.
With Earth on the brink of ecological tipping points, nothing short of a fully coordinated push can prevent worst-case warming scenarios.
Relying on a stock market bubble to quickly create economic growth is tempting but such an approach seldom ends well.
As we wrestle with challenges similar to those before the 1920s slump, let’s not rely on central bankers to save us from economic calamity.
Instead of being grateful, the US and Europe are lashing out at China while simultaneously adopting aspects of Chinese state capitalism.
The recent skittishness of equities is undermining global investors’ confidence and driving them to seek safety in bonds.
The gold price coming adrift from traditional anchors points to deep uncertainty about the world and concern for the global monetary system.
