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Russia

Bankers & Bolsheviks: International Finance and the Russian Revolution by Hassan Malik. Our interview with the author; and win a copy of his book.

In the years leading up to World War 1, and then the Russian Revolution in 1917, Russia had become the world’s largest net international debtor.  It was borrowing heavily to finance industrialisation (railroads, oil, iron and cotton production) and as its population grew it saw rapid economic growth.  WW1, and the earlier 1905 conflict with Japan had also resulted in rising debt.  At the same t…

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Can Russia stomach new US sanctions?

After the summer break, the US Congress is scheduled to review various bills proposing additional sanctions on Russia. The proposals include additional restrictions on Russian imports and exports to the US, as well as on activities of Russian banks in the country. Under consideration there will also be a ban, for US citizens, to trade any newly-issued Russian sovereign debt with a maturity of m…

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How vulnerable are Emerging Markets to Trade Wars?

Emerging Markets Portfolio Manager Claudia Calich analyses the potential effects of an escalation of the US-China trade tensions on Emerging Markets. Despite the diplomatic rows and all the column inches written, Claudia discusses how popular products such as French wine and cheese will always find their way to the end consumer, no matter how many barriers along the way. Calich also explains wh…

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Top dollar no more?

Today, the pound strengthened for the 10th day in a row, climbing to 1.96 against the dollar, the highest level since September 1992 (when the UK currency was ejected from the ERM). When I started in the City in 1985, the exchange rate stood at 1.05$/£, and if it breaks 2 $/£ it’ll be at the strongest level since 1981. What’s going on?

 

In one word, “globalisation”. American consumers make UK …

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