Professor Michael Pettis of Beijing University says investment has spiked back up to 42-44pc of GDP, far surpassing any level ever seen in any major country since the industrial revolution. Other Asian tigers peaked in the low-30s before dropping back as they became richer. Xi Jinping has reverted to the worst pathologies of the old...
Tag: Opinion
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Furlough didn’t save millions of jobs. Its true costs are only now becoming clear
The latest Rishi Sunak advert paints him as quite the hero. “14 million jobs saved” it declares, in Hollywood poster style. And underneath: “Furlough announced, four years ago today.” SuperSunak is shown in three action-man guises: at his desk, in trademark hoodie. Then walking, with a look of urgent purpose. Finally, wearing a face mask,...
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Two steps to reinvigorate the UK’s fashion industry
Do you create bespoke items and charge a premium for the work it entails – and thereby price out many people struggling with a cost-of-living crisis? Or do you mass-produce certain sizes and styles, the efficiency of which enables you to charge less – but which creates a lot of excess inventory (i.e. waste) in...