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Global economy

Today

Chinese Premier Li Qiang is still talking the talk on stimulus, but action is less certain.

China is still all talk on stimulus – for one good reason

Beijing is again talking up its willingness to revive its spluttering economy. But action is unlikely to come until we know more about Donald Trump’s plans.

  • 26 mins ago
  • James Thomson
Li Qiang.

Chinese premier vows to do everything possible to expand demand

The Australian dollar surged as did the US-listed shares of BHP and Rio Tinto after China’s top leaders signalled bolder economic support next year.

  • Updated
  • Lucille Liu

Yesterday

Goldman Sachs’ Jan Hatzius.

Trump tariffs ‘not too disruptive’, Goldman’s top economist predicts

He expects the US president-elect’s slug on imports will be smaller than threatened, but warns they would hit growth hard if fully implemented.

  • John Kehoe

This Month

US Federal Reserve chairman Jerome Powell speaks in New York.

Powell shrugs off Trump’s plan for a ‘shadow’ Fed chairman

The US central bank chief said his institution has “broad support” on Capitol Hill, and was confident of a solid relationship with the new Treasury secretary.

  • Colby Smith
French President Emmanuel Macron with Prime Minister Michel Barnier behind him.

France plunges into turmoil after government toppled

The parliament voted to oust prime minister Michel Barnier over his proposed deficit-cutting budget, throwing the country into deeper political turmoil.

  • Updated
  • Hans van Leeuwen
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America’s market is over-owned, overvalued and overhyped to a degree never seen before.

The US market is a bubble ready to pop

Dominating the minds of global investors, America is over-owned, overvalued and overhyped to a degree never seen before.

  • Ruchir Sharma
Right-wing populist leader Marine Le Pen could bring down the French government this week.

France lurches towards political, economic crisis

Populists from right and left could topple Prime Minister Michel Barnier, risking a market meltdown over intractable politics and a burgeoning budget deficit.

  • Hans van Leeuwen
Donald Trump may be the worst possible person to guide America through the turmoil that’s probably ahead.

The new world order looks like mercantilism

The chaotic politics of the past 16 years masked the steady development of a new economic order, but trade and the economy aren’t zero-sum games.

  • John Authers

November

Donald Trump has threatened major tariffs on its neighbours.

Chalmers seeks market calm after Trump pledges tariff hits

The president-elect has vowed to impose levies from the moment he is inaugurated, in retaliation for supposed illegal immigration and drug trafficking.

  • Updated
  • Andrew Tillett and Joshua Peach
China’s President Xi Jinping and Prime Minister Anthony Albanese.

Trump picks put Australia in the crossfire with China

The frenzy around a reinvigorated Republican administration can only make the voter ride much bumpier for everyone, Anthony Albanese included.

  • Jennifer Hewett
Packaging group Amcor is good for a big deal every decade. This decade is its biggest yet.

Amcor’s whopper $76b tie-up shows it’s ready to rule the world

It’s one of the biggest deals of the year – and the financial numbers are eye-catching. Imagine $US650 million in synergies.

  • Anthony Macdonald
Xi Jinping and Dina Boluarte at a ceremony to virtually inaugurate the Chancay port.

China’s $2b Peru port faces obstacles from the Andes to the Amazon

While Chancay may rekindle an old dream of integrating South America’s Atlantic and Pacific coasts, there is no effective way to make it happen.

  • Dayanne Sousa and Rachel Gamarski
Donald Trump at Madison Square Garden with, from left, Dana White, Kid Rock and Elon Musk.

Bessent, Lutnick in final push for Trump’s Treasury pick

Allies of both men have been lobbying in calls to the president-elect, which is creating tension and increasing the chance that another candidate emerges.

  • Nancy Cook, Saleha Mohsin and Annmarie Hordern
Kristalina Georgieva, managing director of the International Monetary Fund, and Prime Minister Anthony Albanese, at the APEC Economic Leaders’ Retreat meeting, in Lima, Peru, on Saturday 16 November 2024. Prime Minister Anthony Albanese in Peru.

IMF warns Australia and APEC on budget spending

Managing director Kristalina Georgieva told leaders while it was “remarkable” that inflation was retreating globally without recession, “in many countries it is not reflected in public sentiment”.

  • Phillip Coorey
Chinese President Xi Jinping os attending the APEC and Group of 20 summits in South America this week.

Xi defends globalisation as Trump threatens tariffs

In his first major remarks since the US election, Xi Jinping’s message to the APEC summit was that the world was entering “a new period of turbulence and change”.

  • Bloomberg News
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America’s commercial property sector is the world’s largest, and it is struggling.

US unemployment claims fall to lowest in six months

The Labour Department figures are a sign that layoffs remain at relatively healthy levels.

  • Matt Ott
Chinese President Xi Jinping and Indonesian President Prabowo Subianto take part in a welcome ceremony in Beijing.

China, Indonesia strengthen ties as they brace for Trump

President Prabowo Subianto strikes deals with China before heading off to the US, as he tries to play a neutral role between the superpowers.

  • Ella Cao
The Bank of England is hoping for a soft landing for the UK economy.

Bank of England cuts interest rates again, keeps counsel on Trump

The BoE boss warned that the inflation fight wasn’t won, and said it was too early to tell how Trump’s presidency might shift the global economy.

  • Hans van Leeuwen
A Business Council campaign promotion from the 2016 US election.

Trump win would pressure Australia to cut 30pc corporate tax rate

Competition between nations on business taxation and investment will be heavily influenced by the US election outcome.

  • John Kehoe
Olaf Scholz.

Germany’s government at risk of collapse over economic policy

The main political parties are already laying out their campaign positions, and coalition leaders are barely talking.

  • Steven Erlanger and Christopher F. Schuetze