George Magnus
  • Home
  • About
  • Viewpoints Blog
  • Articles
    • Global Economy + Finance
    • Europe + UK
    • China
    • Emerging Markets
    • Demographics
  • Speeches + Events
  • Books
  • Reviews
  • Contact
  • United States
  • Archives

Copyrights © 2017 George Magnus | All Rights Reserved.

Sign up with your email address to be the first to know about new products, VIP offers, blog features & more.
  • Home
  • About
  • Viewpoints Blog
  • Articles
    • Global Economy + Finance
    • Europe + UK
    • United States
    • China
    • Emerging Markets
    • Demographics
  • Speeches + Events
  • Books
  • Reviews
  • Contact
George Magnus

Economist and Author

George Magnus

Economist and Author

The US is starting to resemble an emerging market—and not in a good way

By George Magnus Posted on October 23, 2017November 16, 2017 In United States industrial concentration, US economy 0

First published: Prospectmagazine.co.uk, 23/10/2017

Political chaos could come to undermine America’s economic strength

I referred somewhat flippantly in a recent column here to America becoming an emerging market. 

You might say correctly that the world’s largest economy is in a different league. I meant it differently, though, and not, of course, as a compliment. For along with things that investment managers assure us of, including high economic growth and better prospective investment returns, emerging markets also present higher risks. These normally boil down to some combination of a dysfunctional political system and weak standards of economic governance.

So, while the US is at the moment economically head and shoulders above the likes of Brazil, Turkey, Russia, and in most respects China, the question is whether it is converging with them politically. And if so, will that eventually threaten to compromise America’s economic heft? Is the US, in effect, compromising political and institutional progress made over many years?…..Read more: 

Photo credit: Julien//K Manhattan from Brooklyn via photopin (license)

previously

previously

Xi Jinping consolidates his power in China
up next

up next

Here’s an idea: what if Trump tried appointing an actual economist to lead the Federal Reserve?

About

George Magnus

George Magnus

George Magnus is an independent economist and commentator, an Associate at the China Centre, Oxford University, and an adviser to some asset management companies.

He is a regular contributor to the Financial Times, Prospect Magazine and other written media, and appears regularly on BBC TV and radio, Bloomberg TV and other outlets.

Read more
"George Magnus does not look like a prophet. Yet this is the man widely acknowledged to have predicted that the US sub-prime mortgage crisis would trigger a global recession."

- Josephine Moulds, The Daily Telegraph

George Magnus's Viewpoints Blog

  • Decoupling
  • Common prosperity: more slogan than solution
  • Whither China’s investment in the UK
  • Whatever RCEP is, it’s not the answer to the slump in world trade
  • Ofcom, CGTN and BBC row, the latest nail in Britain’s golden era coffin with China

Latest Articles

  • Banking is too risky to be left to bankers

    First published: The New European 20-03-2023

    With any luck – and we will need some – the maelstrom going through the banking sector and global financial markets will blow over without triggering the kind of meltdown we experienced in 2008.

    Read more →

  • Is China turning Japanese?

    China has some advantages over Japan, such as a state-owned financial system that can prevent significant banks from failing and a closed capital account that can protect the country’s banking system and the economy from the risk of significant capital flight. This however might not prevent China from taking the same economic trajectory Japan has. Read more →

  • Has Xi Jinping Retired China’s ‘Wolf Warrior’ Diplomats?

    China’s sharp diplomatic and foreign policy edges never really went away, but may have been rested temporarily simply for reasons of expediency. Read more →

  • China’s economy will rebound. But for how long? 

    A falling population and the political scars from its zero Covid policy present warning signs for China. Read more →

  • The Economic Consequences of Xi Jinping

    Xi Jinping's China in the aftermath of the 20th party Congress is on a path populated by political determination to succeed, but also systemic economic fragility and policy instability. Read more →

Latest Tweets

@marcmakingsense @michaelxpettis All countries with leveraged banking systems are prone to fin instability. I don’t… twitter.com/i/web/status/1…
5 hours ago
@marcmakingsense @michaelxpettis Hmm. Not so. China is a surplus country with a financial stability problem, and nu… twitter.com/i/web/status/1…
11 hours ago
@marcmakingsense @michaelxpettis Only in right wing economic circles.
14 hours ago
@marcmakingsense @michaelxpettis You’re still talking like a lawyer not an economist. Which is fine. But the point… twitter.com/i/web/status/1…
1 day ago
@marcmakingsense @michaelxpettis Wood for trees Marc. Systemic reasoning is not word play by any yardstick
1 day ago

Follow Me

Twitter Linkedin
Copyright © 2017 George Magnus | All Rights Reserved.