Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary “reading list” which will include very brief summaries of why each item has gotten our attention. Suggestions from readers for “reading list” items are gratefully reviewed, although sometimes space limits the number included.
- Eurozone deflation fears add to pressure on Draghi (Claire Jones, Financial Times) As deflation looms the ECB meeting tomorrow looms large. Monetary policy initiatives are expected to be announced.
- Why banking crises happen in America but not in Canada (John Kay, Financial Times) Kay discusses the analysis of Charles Calomoris and Stephen Haber (in their book Fragile by Design). The robustness of a financial system is related to “the product of culture, history and the political system“, is Kay’s synopsis of the message from the book. And Canada’s mortgage market and financial system display an “enviable dullness“. How does this compare to the U.S.’s vibrant and exciting financial system. From Kay’s disparaging remarks about Tim Geithner’s recent book you get the feeling you will not find the answer there. Kay says this was an “obvious question which Mr. Geithner has not thought to ask“.
- Tales of Army Discord Show Tienanmen Square in a New Light (Andrew Jacobs and Chris Buckley, The New York Times) Some military brass were adamantly opposed to the use of force against the protestors, to the point of getting arrested. It was a point in history where the entire Communist Chinese experiment might have come unraveled. Read Frank Li’s reflections related to Tienanmen posted today.
- Russia and China plan own rating agency to rival western players (Kathrin Hille, Financial Times) Russia is scrambling to lessen dependencies on the U.S. and Europe.
Today there are 11 articles discussed ‘behind the wall’.
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