AI and Geoeconomics

Translated from Jean-Paul Betbèze, "Les leçons de la crise financière", Revue Etudes , Mars 2010. One can always think that lessons are going to be drawn from this crisis enlightning problems to be faced and new challenges to be considered. Indeed, nothing new will be possible without more saving in the United States, whithout more consuming in China; in other words United-States will have to accept a lower growth and China will have to think an economic growth outside of pure mercantilism. Nothing will ever be possible without a finer and faster control of the trade conditions of all goods and services; and at the first place, without the end of China's fixed rate with the US dollar. A tripolar world has been emerging, Asia, United-States, Europe: three currencies are needed. This world must be more and better monitored, with the commitment that: a) the rules will be stabilizing for everybody, and b) financial actors will be closely controlled by relevant and cooperat...

LONDON (Reuters) - A key manufacturing survey rose to its highest level in over 15 years last month, and banks said they planned to step up corporate lending, in signs on Thursday that the recovery is gaining strength. However, the improvement is likely to take longer to filter through to households. The CIPS/Markit PMI purchasing managers' survey reported a small fall in factory employment, and a separate study showing less generous collective pay deals. The main news in support of recovery on Thursday was a rise in the headline manufacturing PMI index to 57.2 from 56.5, a bigger jump than economists had forecast and the index's highest level since October 1994, when the economy was also emerging from recession. With some caveats, economists treat the PMI and its output component as a proxy for growth in factory production, and Capital Economics estimated that it pointed to a quarterly rise in manufacturing output of just under 2 percent, almost...