Browsing: Shock

Distortions in China’s financial system are at the root of today’s global trade imbalances. Capital (along with labor) is the fundamental variable in production, and if it is made artificially cheap it alters the course of economic nature. Beijing has not delivered on its promised market reforms to its banking system and related financial industries.…

John Lewis has been a bellwether for how UK shoppers spend on fashion, homewares and big-ticket treats. The sudden exit of its managing director and a new, untested leader at the helm has put online-first retailers in sharper focus. Department stores face hard questions about space and costs, while digital-focused stocks could see fresh interest.…