20 January 2020

Adair Turner

The writer, former Chairman of the United Kingdom’s Financial Services Authority, is a member of the UK’s Financial Policy Committee and the House of Lords.
  • As China eases capital controls, if it tries to maintain interest rates on deposits below the rate of inflation, citizens will send their money out of the country. Photo: Bloomberg

    China’s debt dilemma

    - Dec 1, 2015 9:37am
    Last month’s monetary policy statement from the People’s Bank of China (PBoC) contained a striking statement: “If endogenous momentum is inadequate and returns on investment low, growth must rely on debt to a great extent.” Those...
  • Africa’s population is likely to increase by more than three billion over the next 85 years. Photo: Reuters

    The real demographic challenge

    - Aug 24, 2015 10:48am
    The United Nations’ latest population projections suggest that Japan’s population could fall from 127 million today to 83 million by 2100, with 35 percent of the population then over 65 years old. Europe and other developed...
  • Farmers in China's rural areas are rapidly aging and are unlikely to migrate to the cities. Photo: BBC

    China’s growth challenges and options

    - Jun 22, 2015 10:54am
    It is often assumed that emerging-economy living standards are bound to converge with those in developed countries. But, leaving aside some oil exporters and the city states of Hong Kong and Singapore, only three countries –...
  • The European Union and Greek flags fly beneath the Parthenon in Athens. Austerity alone would not suffice for a country to cut its debt. Photo: Bloomberg

    Global debt dilemma

    - Apr 20, 2015 9:02am
    Greece’s divisive negotiations with the European Union have placed debt back at the center of debates about economic growth and stability. But Greece is not the only country struggling to repay its existing debt, much less...
  • Japan's bigger economic stimulus comes from the government’s continued large fiscal deficits funded by money created by the Bank of Japan. Photo: Bloomberg

    Japan debt: It’s not what it looks like

    - Mar 17, 2015 10:38am
    Over the next few years, it will become obvious that the Bank of Japan (BOJ) has monetized several trillion dollars of government debt. The orthodox fear is that printing money to fund current and past fiscal...
  • Economic headwinds from China are a major cause of stalled recovery in the world economy. Photo: Bloomberg

    What happened to global economic recovery?

    - Feb 13, 2015 9:19am
    Last year, the global economy was supposed to start returning to normal. Interest rates would begin rising in the United States and the United Kingdom, quantitative easing would deliver increased inflation in Japan and restored confidence...
  • Falling oil, gas and coal prices is threatening investment in green energy and stimulating wasteful consumption. Photo: Bloomberg

    Please steal our fossil fuels

    - Dec 29, 2014 10:16am
    With just days left to go, 2014 seems certain to be the warmest year on record, or at least the runner-up. International agreement on robust action to limit global warming remains inadequate: the just-completed Lima climate...
  • Efforts to control population growth through measures like China’s compulsory one-child policy are both morally abhorrent and unnecessary. Photo: Reuters

    When a smaller population is better

    - Aug 25, 2014 10:51am
    Is a shrinking population always a bad thing? Judging by the lamentations of some economists and policymakers in the advanced economies, where people are living longer and birth rates have fallen below replacement levels, one certainly...