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Satyajit Das

Satyajit Das is a former banker and author. His latest book is A Banquet of Consequences.

Articles by this author

Rising conflicts weigh heavily on the global economy
The wages of war
It’s often said that the post-1989 world economy reaped the benefits of a “peace dividend”. There was actually no “peace”. Economists contest the empirical reality of the “...
 
The risk of a serious pandemic is rising, and the world is ill-prepared to cope
The cost of disease
Short memories and shorter media cycles mean that the West African Ebola crisis is now “fixed”. Several countries have been now declared free of the disease. This outbreak was...
 
Reform in China must go to the heart of the government itself
The people’s welfare
Increasing consumption requires increases in household income, reduced savings or a combination. This requires increasing wage levels and employment levels. Increasing consumption...
 
The reform process in China must meet economic, financial, welfare, demographic, environmental and governance challenges
Changing the software
 The Chinese brand of state corporatist model based on credit driven investment is designed to deliver growth. The strategy requires the government to exert significant power...
 
Boosting Chinese consumption will be a formidable task
Reforming China
Over the last 35 years, China has emerged as a major global economy, with average annual growth rates of 9.7% which have been pivotal in helping raise between 400 and 600 million...
 
American gradualism may not be gradual enough
A tale of two interest rates (part 2)
Authorities in Europe and the US have both shifted their interest rate policies recently, but in opposite directions. This series of two articles outlines the rationale and what...
 
European illusions will soon collide with reality
A tale of two interest rates (part 1)
Authorities in Europe and the US have both shifted their interest rate policies recently, but in opposite directions. This series of two articles outlines the rationale and what...
 
A medical bulletin on the health of Market and Economy
Prognosis negative
The condition of the conjoined twins Market and Economy remains uncertain. Economy has spent much of the last 7 years in an induced coma, with only a modest recovery from the...
 
With interest rates as low as they can go, policymakers are running out of economic tools
Less than zero
Policy options to restore the health of the global economy are diminishing. Traditional measures are proving increasingly ineffective. In this second part of a two-part piece, the...
 
What can governments do about the world’s ailing economy?
Fiscal follies
Policy options to restore the health of the global economy are diminishing. Traditional measures are proving increasingly ineffective. In this first part of a two-part piece, I...
 
Central banks won’t admit that low interest rates can’t go on forever
Confusion of confusions
Isaac Newton believed that truth is found in simplicity, not in multiplicity and confusion. Based on current interest rate policies, central bankers in developed market clearly...
 
The feast is over, and the famine is about to begin
The resource doom
In late September, there was talk of Glencore, the troubled Swiss based commodity trading firm, being the Lehman Brothers of 2015: the epicentre of a global crisis a la 2008, only...
 
A correct diagnosis of the commodity crash is vital
Commodity crash pathologies
Since the middle of the year, financial markets have been volatile. Moves of plus or minus 1-2% per day (and more) have been common. Global equity markets have lost around US$10...
 
Central banks are flooding markets with money, but at what cost?
The illusion of liquidity
Samuel Taylor Coleridge’s Rime of the Ancient Mariner captured the paradox of scarcity amidst plenty: “Water, water, everywhere, nor any drop to drink”. In a curious parallel,...
 
The Chinese stock boom was built to shore up President Xi Jinping’s rule. What will the crash mean for the future?
The mandate of heaven
This is part 3 of a three-part series on the Chinese stock market. Read part 1 and part 2. Sino-contagion Increasingly the focus has turned to the effects of the fall in...
 
As China is discovering, stock bubbles are hard to see and even harder to catch
A little share trouble in big China
This is part 2 of a three-part series on the Chinese stock market. Read part 1 here.   Wild horses The government policy succeeded beyond expectations as...
 
Don’t expect the Chinese economy to play by familiar rules
China’s surreal stock market
Most things about China are unfamiliar for foreigners, even its stock market. Between 2013 and mid 2015, the Shanghai Stock Exchange Composite Index rose by around 250%, from...
 
The Greeks emphatically voted “No”, but their troubles are far from over
Greece: What now?
The Greek referendum last weekend was always going to be a Rorschach inkblot test, with everybody projecting their own perceptions onto the result. The referendum may be “a...
 

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