The Ozempic Economy

Ozempic Maker Novo Nordisk Has Denmark’s Economy Hooked
https://www.bloomberg.com/news/features/2024-04-30/denmark-and-novo-nordisk-ozempic-maker-s-success-makes-huge-impact
The blockbuster drug producer is Europe’s most valuable company — and its home country is feeling the effects. 

U.S. Foreign Policy Towards Emerging Powers

Emerging Powers and the Future of American Statecraft
https://carnegieendowment.org/2024/04/09/emerging-powers-and-future-of-american-statecraft-pub-92101
Collectively, a group of emerging powers in Asia, Africa, Latin America, and the Middle East are growing in their geopolitical weight and diplomatic ambition. How closely do they align with the United States when it comes to Russia and China? What drives their decisions on the world stage? How can the United States integrate them into its foreign policy strategy?
 
Related:
https://foreignpolicy.com/2024/04/30/middle-powers-geopolitics-united-states-diplomacy/ 

Cost of QE

The Fed’s Quantitative Easing Program Cost Too Much
https://www.bloomberg.com/opinion/articles/2024-04-30/the-fed-s-quantitative-easing-program-cost-too-much 

The Rise of the Periphery

Europe’s Economic Laggards Have Become Its Leaders

https://www.nytimes.com/2024/04/30/business/europe-economy-inflation-growth.html

More than a decade after painful austerity, Greece, Portugal and Spain have been growing faster than traditional powerhouses like Germany.

 

Sun, Sea and Exports Give South Europe Reason to Feel Smug

https://www.bloomberg.com/news/articles/2024-04-06/europe-rebound-latest-sun-sea-exports-give-spain-greece-reason-to-be-smug

Spain, Portugal, Greece seen as top euro-zone performers.

MTM and High Rates

High Fed Rates Are Not Crushing Growth. Wealthier People Help Explain Why.    

https://www.nytimes.com/2024/04/30/business/economy/high-fed-rates-rich-people.html

High rates usually pull down asset prices and hurt the housing market. Those channels are muted now, possibly making policy slower to work.

 

Fed to Signal It Has Stomach to Keep Rates High for Longer

https://www.wsj.com/economy/central-banking/federal-reserve-meeting-interest-rates-inflation-6dcb05e8

Chinese Concerns Over U.S. Treasury Holdings

China should bail on US bonds even faster, scholar says, as bilateral tensions and anxieties mount

https://www.scmp.com/economy/china-economy/article/3260814/china-should-bail-us-bonds-even-faster-scholar-says-bilateral-tensions-and-anxieties-mount

 

China’s US Treasury Holdings Becoming ‘Hostages,’ Academic Warns
https://www.bloomberg.com/news/articles/2024-04-29/china-s-us-assets-becoming-hostages-divestment-advocate-says
China needs to further reduce its Treasuries holdings, in part to lessen the potential leverage of Washington over its Asian rival, according to a paper published by a Chinese state think tank.
The vast American assets that China’s authorities hold are “increasingly becoming hostages — hindering us from safeguarding our national sovereignty,” Di Dongsheng, vice-dean of Renmin University’s School of International Studies, wrote in a piece published by a China Institutes of Contemporary International Relations journal. 

 

China’s $170bn gold rush triggers Taiwan invasion fears

https://www.telegraph.co.uk/business/2024/04/30/china-launches-gold-buying-spree-amid-fears-o/

Beijing on record 17-month buying spree in what experts say is a move to guard against sanctions.