[Re: 2013 will prove the power of global events to shape our economic lives, yesterday]
Mark Malloch Brown’s concerns about the Asia Pacific in 2013 are essential reading. As he correctly points out, problems in the Eurozone and the continuation of political impasse in the US have been priced into the markets. But many still assume Asia will retain its position as the strongest engine of future world growth. Unfortunately, geopolitical tension (notably between China and Japan, but also in Pakistan, Iran and North Korea), and brewing discontent in Asia’s authoritarian regimes, could combine to make the region a nightmare for investors in the year ahead.
2013 will not be a groundhog year for the UK economy. Manufacturing data has begun to pick up, and some retailers like John Lewis reported better than expected Christmas sales. Headwinds that shook the global economy in 2012 have begun to calm, and we have much more certainty than we had this time last year.
Alfred D. Woolf
Optimism about the UK economy is misguided. The Eurozone looks certain to fall deeper into recession, which will hit the UK. Inflation will creep higher, and it is likely that the economy contracted in the fourth quarter. There are few reasons to be optimistic.
Everything about the fiscal cliff deal was a failure: what Congress did, how Congress did it, and what Congress failed to do.
The fiscal cliff has been averted, but the next big story of 2013 is the debt ceiling limit. We’ll be hearing a lot about that soon.
The UK has taken over the presidency of the G8. The global economy and employment are key focuses. The start of progress?
The new rise in rail fares means my rent in London is now £100 cheaper per month than commuting in.