10 December 2018

Jim O'Neill

Jim O’Neill, a former chairman of Goldman Sachs Asset Management and a former UK Treasury Minister, is Chair of Chatham House.
  • Recent developments show that when the right conditions are put in place, there can indeed be a market for developing new antibiotics. Photo: Bloomberg

    An earnest proposal for tackling AMR

    - Nov 5, 2018 9:52am
      Under Article 50 of the Treaty of Lisbon, the United Kingdom will leave the European Union on March 29, 2019. Presuming that it does (but even if it does not), the UK government should continue...
  • Italy has long had poor productivity by European standards. Photo: Bloomberg

    Will Italy sink Europe?

    - Oct 18, 2018 9:50am
      Despite political turmoil and emerging risks at the global level, the eurozone has had two years of strong economic growth, at least by its own historically disappointing standards – and even with the United Kingdom...
  • China has contributed an even larger share of global growth in this decade than it did in the last. Photo: Bloomberg

    The global economy ten years after

    - Sep 11, 2018 10:09am
    Much will be said about the tenth anniversary of the 2008 financial crisis, so I will focus on the global economy, which has not been nearly as weak as many seem to think. According to the...
  • Despite his escalating rhetoric, Turkish President Recep Tayyip Erdoğan may soon find that he has little choice but to abandon his isolationist and antagonistic policies of the last few years. Photo: Reuters

    The Turkish emerging market timebomb

    - Aug 15, 2018 10:23am
    Turkey’s falling currency and deteriorating financial conditions lend credence, at least for some people, to the notion that “a crisis is a terrible thing to waste.” I suspect that many Western policymakers, in particular, are not...
  • If US and China continue trading blows with tit-for-tat tariffs, both will lose – and so will the world economy, experts warn. Photo: Bloomberg

    The global economy’s uncertain future

    - Jul 10, 2018 10:08am
    At the start of 2018, most of the world economy was experiencing a synchronized cyclical recovery that seemed to herald a longer period of sustainable growth and an end to the decade-long hangover from the 2008...
  • German Chancellor Angela Merkel speaks to US President Donald Trump during the second day of the G7 meeting in Quebec, Canada, on June 9. Photo: Handout via Reuters

    Why the G7 is a zero

    - Jun 13, 2018 10:04am
      Though US President Donald Trump’s appearance at the Group of Seven (G7) summit in Quebec last week was not particularly well received, I find myself sympathizing with his skepticism toward the group. I have long...
  • It would seem that higher education is an area where the United Kingdom truly excels. And yet the UK’s impending withdrawal from the European Union could threaten this success. Photo: Bloomberg

    How universities can soften the Brexit blow

    - May 17, 2018 1:16pm
    The United Kingdom ranks around 22nd among countries in terms of population. Its economy is somewhere between the fifth- and seventh-largest in the world in terms of nominal GDP (in US dollars), which is comparable to...
  • Vietnam reported an inflation-adjusted GDP growth of 7.4 percent in the latest quarter, outpacing China, and is on track to maintain a similar level of growth for the year. Photo: Bloomberg

    The ‘Next Eleven’ and the world economy

    - Apr 23, 2018 10:21am
    On a recent holiday in Vietnam, Cambodia, and Laos, I couldn’t resist thinking about these countries’ economic potential and ongoing policy challenges. After all, in 2005, my Goldman Sachs colleagues and I had listed Vietnam as...
  • President Xi Jinping casts his ballot during a vote on a constitutional amendment lifting presidential term limits, at the third plenary session of the National People's Congress  in Beijing on Sunday. Photo: Reuters

    Missing the forest for the Xi

    - Mar 13, 2018 10:26am
    In recent weeks, Western media commentators have focused extensively on the Communist Party of China’s (CPC) decision to abolish presidential term limits, which will allow Xi Jinping to remain in power indefinitely. Unsurprisingly, they have generally...
  • Since 2010, Chinese consumers have added around US$2.9 trillion to the world economy. That is bigger than the entire UK economy. Photo: Reuters

    China’s irresistible rise

    - Jan 31, 2018 10:27am
    China’s recently released GDP data for 2017 confirm it: the country’s dramatic rise, with the concomitant increase in its global economic relevance, is not slowing down. To be sure, there has been fresh media chatter about...
  • Looking at the global macro scene, while many oft-cited concerns in 2017 turned out to be unwarranted, it doesn’t mean economic risks have disappeared. Photo: Bloomberg

    Good times at last?

    - Jan 12, 2018 10:05am
      In February 2017, I wrote an optimistic commentary called “The Global Economy’s Surprising Resilience.” The piece came as a surprise to those who saw only bleak prospects for Western countries, not least the United States,...
  • Shoppers walk through a Christmas market in Nottingham, central England. There is widespread fear that Brexit will hurt British consumers through higher import prices and weak business investment. Photo: AFP

    A better British story

    - Dec 7, 2017 9:00am
    Nowadays, there are hazards to looking for signs of hope in the British economy. As the latest OECD forecast for 2018 and beyond shows, a cloud of gloom has descended on the United Kingdom. The primary...
  • Unless urgent steps are taken, ten million people could die from AMR-related illnesses every year by 2050, experts warn. Photo: Bloomberg

    Turning AMR words into action

    - Nov 28, 2017 9:11am
    It was Antibiotic Awareness Week earlier this month, and, as Chair of the UK government’s Review on Antimicrobial Resistance (AMR) under Prime Minister David Cameron, I participated in a number of events to draw attention to...
  • Even as many countries try to wean themselves off oil, that transition will not happen overnight. Accordingly, oil markets are adjusting to stronger demand. Photo: Reuters

    The abnormality of oil

    - Nov 21, 2017 9:05am
    Writing about oil prices is always risky. In January 2015, I suggested that oil prices would not continue to fall, and even predicted that they would “finish the year higher than they were when it began.”...
  • Despite the slower growth trend this year, China will still add about US$1 trillion or more to its nominal GDP, giving it a US$12 trillion economy by the end of this year. Photo:  Reuters

    What’s really at stake at the CCP Congress?

    - Oct 19, 2017 9:25am
    This month, international media are understandably focused on the Chinese Communist Party’s 19th National Congress, a carefully choreographed event that will reveal who’s “in” and who’s “out” with Chinese President Xi Jinping. But while it is...
  • The snap general election Theresa May called in April has now left the United Kingdom with a minority government. Photo: Reuters

    How to prevent the UK’s self-destruction

    - Jun 14, 2017 1:05pm
    If you were a Briton who had been stuck in Antarctica for the past year and a half, you might be forgiven for wishing you had stayed put. The decisions taken during your absence by British...
  • US President Donald Trump’s proposed policy framework might very well deserve to have a rising risk premium. It is still too early to know for sure, given that the stock market continues to reach new heights. Photo: Reuters

    Trumping the dollar

    - Jun 13, 2017 10:07am
    One of the more fascinating developments in the seven months since US President Donald Trump was elected has been the trajectory of the US dollar, relative to other major currencies. After soaring in the wake of...
  • Germany's Angela Merkel poses with a supporter. Labor-sector reform could be crucial for Germany to move toward closer fiscal integration. Photo: Reuters

    Taking eurozone growth seriously

    - May 17, 2017 10:45am
    I have been out of the world of international finance and economic forecasting for more than four years, but much of what I learned during my 30 years working full-time in the field still influences how...
  • Developing new antibiotics is difficult and expensive – and, crucially, far less profitable than investments in other important fields, such as cancer and diabetes. Photo: Internet

    Overcoming market resistance to new antibiotics

    - Apr 29, 2016 10:16am
    From the strict perspective of some investors, astute financial management by a company to bolster its share price is a good thing. By this narrow logic, when it comes to the pharmaceutical industry, we should be...

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