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  Time for alarm over fiscal and fin­an­cial risk Grow­ing pub­lic debt is one con­cern — another is how it is being fin­anced Mar­tin Wolf Eco­nom­ics mar­tin.wolf@ft.com Settings Print Share Listen Prior to the fin­an­cial crisis of 2007-09, the Bank for Inter­na­tional Set­tle­ments made itself unpop­u­lar with mon­et­ary author­it­ies around the world by point­ing to the risks being cre­ated by accom­mod­at­ive mon­et­ary policies, excess­ive lever­age, high asset prices and a lack of trans­par­ency. These warn­ings were ignored. The res­ult was a calam­it­ous fin­an­cial crisis, which not only caused a huge reces­sion, but has also bequeathed a leg­acy of high pub­lic debt and pop­u­list polit­ics. Once again, the BIS is sound­ing the alarm. It has expressed con­cern over fiscal and fin­an­cial risks for some time. But only last week, its gen­eral man­ager, Pablo Hernández de Cos, former gov­ernor of the Bank of Spain, delivered a sober­ing account of “fiscal threats in a cha...
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  All Newsletters | View in browser Nikkei Asia Subscribe for $1 Special Edition December 3, 2025 Hello everyone! This weekly South Asia Watch newsletter keeps you up-to-date on new developments and trends from the region, highlighting our recent reporting and insightful analysis on an area that's playing an increasingly important role in global politics, economics and business. "Mad data," an economist texted me after India reported its latest growth numbers last Friday. In the July-to-September quarter, the country's gross domestic product grew 8.2%, up from 7.8% growth in the preceding quarter, which itself had exceeded expectations. In the immediate aftermath, things did feel a little off. A Reuters poll of economists had forecast growth at 7.3%, and almost no one expected it to surpass the preceding quarter's level. That was for good reason: This was the first quarter that the economy had faced the full brunt of 50% tariffs on exports to the U.S., India's...
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  Low-cost China lures European busi­nesses Expan­sion drive accel­er­ates des­pite fears of politi­cians and risks for con­tin­ent’s eco­nomy JOE LEAHY AND RYAN MCMORROW WILLIAM LANGLEY — GUANGZHOU ADRIENNE KLASA — PARIS Addi­tional report­ing by Andy Bounds and Alice Han­cock in Brus­sels and con­tri­bu­tions from Tina Hu in Beijing Settings Print Share Listen European man­u­fac­tur­ers are increas­ing their invest­ment in Chinese factor­ies, des­pite grow­ing anxi­ety among the con­tin­ent’s polit­ical lead­ers about indus­trial depend­ence on the world’s export­ing super­power. Emmanuel Mac­ron, France’s pres­id­ent, is expec­ted to be the latest leader to warn about China’s crush­ing trade sur­pluses with Europe — which hit €305.8bn last year — dur­ing a three-day visit to Beijing start­ing today. But steady invest­ment by European man­u­fac­tur­ers — much of it inten­ded to pro­duce goods for export — is adding to China’s power­ful indus­trial base. European com­pan­ies say...
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  Hong Kong struggles to improve conditions in tiny, crowded homes Photography and video by  Tyrone Siu Reporting by Tyrone Siu and Clare Jim Filed January 6, 2025, 11:00 p.m. GMT Housing is famously cramped in the Asian financial hub of Hong Kong, thanks to sky-high property prices, but a single toilet and kitchen shared by four families would make for a challenging home situation anywhere. “It’s so small here; it’s really inconvenient to live in,” said retired 60-year-old Xiao Bo, as she sat on her bed, eating home-made dumplings off a folding table in a tiny space adorned with pink wallpaper and a rack of colourful tote bags. Single and opting to give only her first name, she said she had nothing but “painful” memories of the partitioned, cluttered walk-up where she has lived for three years, but could not afford a better flat. Xiao Bo poses for a photo at her subdivided flat in Hong Kong, China, July 9, 2024. REUTERS/Tyrone Siu Xiao Bo walks at her subdivided flat, in...
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  «Je ne pense qu’à une chose, comment échapper à tout ça»: confiants en Vladimir Poutine, les Russes sont fatigués de la guerre Il y a 12 heures Écouter cet article 00:00/00:00 À Moscou, fin novembre. Ramil Sitdikov / REUTERS RÉCIT  - Après un regain d’espoir suscité au début de l’année par le retour de Trump, la population a été largement regagnée par la lassitude face à la guerre en Ukraine et, au diapason du discours officiel, accuse fréquemment les Européens de faire obstacle à un accord. Dans la grisaille désespérante de l’hiver russe, que n’éclairent même pas quelques arpents de neige,  tout au moins à Moscou , le Nouvel An approche - ce sera le quatrième  depuis le début de la guerre en Ukraine . Moment principal de fête et de respiration familiale pour une population qui suit sans illusion les palabres en cours, visant à mettre un terme à ce conflit que beaucoup préfèrent ne pas voir, même s’il est dans toutes les têtes et qu’il  « mord »...
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