This article constitutes the March 27th, 2020 entry in the daily Quillette series COVID-19 UPDATES. Please report needed corrections or suggestions to [email protected] According to statistics compiled by Our World in Data (OWD), the number of...
Thread by @nfergus: I see with increasing frequency the erroneous assertion that Moritz Schularick and I were in favor of "Chimerica"--the sys between the Chinese and American economies before the global financial crisis. But that is a complete...
A decade after the outbreak of the global financial crisis, a large trade imbalance between the world's two biggest economies, the U.S. and China, still exists and is more politically contentious th...
In The Wall Street Journal, Niall Ferguson writes that the past week has shown that the world economy is dominated more than ever by the symbiotic relationship of China and America.
Niall FergusonBy 2015 it seemed obvious to us that only a more transparent (and independent) Chinese monetary policy would avert a new crisis as the Fed tried to taper QE, while China gambled on yet another devaluation: wsj.com/articles/chime… 8/13
Niall FergusonNone of what we recommended was done. China's persistent reliance on currency weakness made an American backlash inevitable. It came in the form of the protectionist Donald Trump's election in 2016: wsj.com/articles/chime… 9/13
In The Wall Street Journal, Niall Ferguson and Moritz Schularick write that 'Chimerica' has become addicted to ultra-loose financial conditions.
Niall FergusonBut we were wrong. The financial crisis didn't lead to divorce, but rather to convergence: the odd couple grew more economically alike. After the crisis, both halves of Chimerica became hooked on monetary stimulus: wsj.com/articles/the-u… (2013) 7/13
China and the United States, monsters of the global economy, must now take separate paths.
Niall FergusonWe followed this up in 2009, saying explicitly that "we believed this relationship was a chimera a monstrous hybrid like the part-lion, part-goat, part-snake of legend." nytimes.com/2009/11/16/opi… 4/13
Niall FergusonThe first time we published, in 2007, we said it was the key to understanding inflated asset prices in the West and China's inexorably rising share of global manufacturing. The whole point of the word was that Chimerica might prove to be a chimera: wsj.com/articles/SB117… 2/13
In this wide ranging conversation CoinDesk's Michael Casey speaks with author, historian and Hoover Institution senior fellow Niall Ferguson about our disrupted world, inevitable crisis and what it could mean for money.
The pace of coronavirus testing in the United States has seen a meteoric rise in the past week. But the country still lags in tests relative to its population, despite having the world’s most reported coronavirus cases.
Niall FergusonThis is not good: nytimes.com/interactive/20… But I am even more disappointed by the lack of effort by the big tech companies to help with contact tracing when people test positive. Why is this not being done? It was crucial in South Korea.
Niall Ferguson, Milbank Family Senior Fellow at the Hoover Institution at Stanford University, joins "Closing Bell" to discuss the coronavirus outbreak.
Niall FergusonDodgy Skype quality, I am afraid, but you get the general point: there is still too much uncertainty about COVID-19 to call 40,000 dead in the U.S. a "worst-case scenario." With pandemics, the tails of the distribution are very fat.
The historian and author offers a three-episode survey of the World Wide Web and its antecedents.
Niall Ferguson"Though he leads with his lower lip and presents his positions like a pugnacious, undertipped bartender, Mr. Ferguson serves up fascinating parallels between the past and present." I was a bartender once, actually, but there are no tips in British pubs.
Thread by @nfergus: This is a thread intended to explain why @nfergus the historian (not to be confused with the more important @neil_ferdemiologist) was rather earlier than most commentators to spot the coming pandemic. See here: niallferguson.co…