Wednesday, November 22, 2017

Tag: Infrastructure

Summers Warns of Financial-Crisis Risk From Trump Economic Plans

Former U.S. Treasury Secretary Lawrence Summers attacked the policy proposals of Donald Trump on several fronts, saying the president-elect’s plans for deregulation were setting the stage for the next financial crisis. “The deregulation in some areas like finance is hugely dangerous,” Summers said Sunday in an interview on Fox News Channel....

SoftBank’s First U.S. Investment After Trump Talk Generates 3,000 Jobs

SoftBank Group Corp. Chief Executive Officer Masayoshi Son told President-elect Donald Trump this month he would create 50,000 jobs in the U.S. Money for the first 3,000 positions was announced on Monday. Satellite startup OneWeb Ltd. said it raised $1.2 billion from SoftBank and existing investors, with the Japanese technology...

Lagarde Says Globalization Needs to Have a More Inclusive Face

Supporters of globalization need to develop a new way to promote open markets that relies on smaller trade deals and helps people who are feeling left out, International Monetary Fund Managing Director Christine Lagarde said. “I certainly hope there is not a move toward deglobalization,” Lagarde said Friday in an...
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Michael Hudson on the Orwellian Turn in Contemporary Economics

Michael Hudson is President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City and author of Killing the Host (2015), The Bubble and Beyond (2012), Super-Imperialism: The Economic Strategy of American Empire...

Trump Allies Urge Fed to Cut Balance Sheet and Revive Credit

Bond investors may have another reason to worry after Donald Trump's election last week: Some of his allies are not fans of the Federal Reserve’s big balance sheet of bonds and want the central bank to shrink it. They argue that the Fed's debt portfolio has damaged the economy by...

Bonds bloodied as Trump spending plans spur dollar

Routs in global bonds and emerging markets intensified, while the dollar climbed with base metals as investors positioned for the wave of fiscal stimulus that Donald Trump has pledged to unleash. The yield on 30-year Treasuries rose to the highest since January, with last week’s record debt selloff bleeding into...

Beware Donald Trump’s Infrastructure Plan

We don’t know much about Donald Trump's plans for this new toy he’s inherited called the world’s only superpower. But we know that he likes to put his name on things, which is why his prioritizing of an infrastructure program makes a lot of sense. He can barnstorm the...

Donald Trump, in Exclusive Interview, Tells WSJ He Is Willing to Keep Parts of...

President-elect hints at possible compromise after vows to repeal the Affordable Care Act. NEW YORK—President-elect Donald Trump said he would consider leaving in place certain parts of the Affordable Care Act, an indication of possible compromise after a campaign in which he pledged repeatedly to repeal the 2010 health-care law. In...

With Trump’s election, is stimulus spending back on Washington’s agenda?

Has John Maynard Keynes just won a ticket back to the White House? Keynes was the British economist who advocated government deficit spending to stimulate moribund economies. And that seems to be the principle undergirding the $1-trillion infrastructure construction plan that President-elect Donald Trump proposed shortly before election day. Trump...

Copper Price Climbs to One-Year High

Gains based on rise in U.S. infrastructure spending after Trump triumph and optimism over China demand. Copper rose to a fresh one-year high on Wednesday, boosted by bets on a rise in infrastructure spending and continued optimism over China demand. Copper for December delivery settled up 2.9% at $2.4480 a pound...

While You Weren’t Looking, Donald Trump Released a Plan to Privatize America’s Roads and...

So this is kind of cute. While most of us were tearing our hair out over the FBI and Hillary Clinton's emails last weekend, Donald Trump's campaign quietly released a plan to privatize new infrastructure development in the United States. I know, that's not very sexy on the surface....

Donald Trump believes the United States can get $1 trillion in new roads –...

Inside two weeks before Election Day, Donald Trump has finally released a plan to pump $1 trillion of new infrastructure spending into the U.S. economy. He says it won't cost taxpayers a dime. Trump's economic advisers have embraced a modified version of a theory some liberal economists have been pushing for...

Egypt’s Sisi defends tough but unavoidable economic reforms ahead of IMF loan

Egypt's President Abdel Fattah al-Sisi has defended what he described as "tough but unavoidable" reforms ahead of a $12bn International Monetary Fund loan to revive his country's ailing economy. "The reforms are tough but they're unavoidable to save the economic situation," Sisi said in an interview published on Saturday by...

Philippines open for business with China, says finance minister

Opportunities for the two countries to cooperate on infrastructure, says Carlos Dominguez. The Philippines' new government plans to court Chinese investment to fund an ambitious infrastructure programme, the latest sign of warming ties between the two nations that have been at loggerheads over territorial claims in the South China Sea. “The...

Ethiopia has a lot riding on its new, Chinese-built railroad to the sea

ADDIS ABABA, Ethi­o­pia — The sleek, white train glides through the hilly Ethiopian countryside, the first to travel this route in nearly a decade. The contrast is stark as the new, Chinese-made electric train passes horse-drawn carriages, oxen hauling plows and crowds of curious village children. But soon it crosses...

The decline of the middle class is causing even more economic damage than we...

I have just come across an International Monetary Fund working paper on income polarization in the United States that makes an important contribution to the secular stagnation debate. The authors — Ali Alichi, Kory Kantenga and Juan Solé — use standard econometric techniques to estimate the impact of declines in middle...

Israel to supply gas to Jordan in $10 billion deal

The Leviathan reservoir developers aim to complete construction and development of the field, and begin delivering gas to Jordan, in as little as three years, the Noble Energy statement said. Israel will be supplying critical quantities of natural gas to Jordan upon the development of the Leviathan reservoir as a...

Troubled Russia Tries to Exploit Links to China

Putin to visit Beijing in bid to boost trade and ties as Russian economy struggles from Western sanctions. Russian President Vladimir Putin will try to bolster trade and economic ties when he visits China on Saturday to meet Chinese President Xi Jinping, as Russia’s economy struggles amid Western sanctions and...

China, Russia expected to sign multibillion dollar high-speed rail deal during Putin’s visit to...

A multibillion-dollar high-speed rail deal between China and Russia is expected to be signed during Russian president Vladimir Putin's visit to Beijing this week, when the two nations are expected to extend military cooperation. China’s foreign ministry spokesman Lu Kang announced on Monday the Putin would start his state visit...

A Transatlantic Plan to Bolster Europe’s Cyber Defenses

The cyber world of the 21st century may soon look dangerously similar to the political world of the 19th. It’s cliché to say that we are increasingly dependent on internet-enabled technologies. Nevertheless, Europe is struggling to keep up. Shrinking budgets limit European countries’ ability to invest in building resilience against...

China’s High-Speed Rail Diplomacy

Beijing Sets its Sights on the U.S. Market. A sense of uncertainty hangs over American infrastructure, as the United States muddles through with its aging nuclear plants, careworn bridges, and potholed highways. In past eras, the United States excelled at building major projects; now, it lags behind other countries. That...

For Russia, Natural Gas Is Losing Its Potency as a Political Weapon

There was a time when Russia could manipulate other countries with its natural gas supplies. It still can, but the threat is less effective than it once was. Ukraine's national natural gas company, Naftogaz, confirmed Wednesday that it will consider negotiating direct natural gas purchases with Russian natural gas giant...

US, Europe Enable Southern Gas Corridor

The first half of 2016 has proved vitally important to the success of the Southern Gas Corridor (SGC), both in terms of the project's physical implementation and also with regard to funding of several segments of the value chain by a number of the project partners, in particular the...

The US Is Preparing to Oust President Evo Morales

US intelligence agencies have ramped up their operations intended to remove Bolivian President Evo Morales from office. All options are on the table, including assassination. Barack Obama, who sees the weakening of Latin America’s “hostile bloc of populist states” as one of his administration’s foreign-policy victories, intends to buoy...

China to build 400km/h train for Russia’s high-speed railway

China is developing a new generation of trains capable of reaching speeds of 400 kilometers per hour for Russia's Moscow-Kazan high-speed railway, the China Daily reports. The train... will have wheels that can be adjusted to fit various gauges on other countries' tracks, compared with trains now that need to...

BRICS bank, AIIB ready to follow China by financing Moscow-Kazan high-speed railroad

The total cost of the Moscow-Kazan high-speed railway line is estimated at $16.9 bln, while the section may later be extended to China, connecting the two countries across Kazakhstan. SOCHI, June 3. /TASS/. The New Development Bank BRICS (NDB BRICS) and Asian Infrastructure Investment Bank (AIIB) are ready to follow...

World’s longest rail tunnel to open in Switzerland under Alps

EU heads to take 57km maiden voyage in €11bn Gotthard base tunnel on Wednesday. Measuring 57 km in length, situated 2.3km deep under the Alps and having cost €11bn to complete, Switzerland’s Gotthard base tunnel is more than just the world’s longest and most expensive tunnelling project. At a time of...

The Silk Road railway will not work without Poland

The Ukrainian state-owned railways have recently presented a project of a possible branch of the New Silk Road railway. It would connect Ukraine and Europe with Iran, thereby facilitating commercial contacts with various states of the Persian Gulf and even India. Now they need Poland. For the time being, the launch...

The end of Pipeline Politics?

Pipelines are the most favoured, common way of gas transportation across the world. Physical limitations to alternative ways of trading, geographical proximity, and political and economic reasons account for this. In particular, gas can most efficiently be transported if compressed and injected into pipes, rather than converted into other states,...

Syria Asks Russia for Help Rebuilding Oil Industry

Russian Energy Minister Aleksandr Novak said that Russian companies have received requests from Syria to help rebuild the country’s oil and gas industry. "Syria has asked our companies to participate in rebuilding oil and gas projects, infrastructure development, and pipeline construction...the companies are currently studying the proposals,” Novak said. According to...

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