This is part of a series, ‘Economists Exchange’, featuring conversations between top FT commentators and leading economists A chart first brought economist Branko Milanovic to worldwide attention. In 2013, the former World Bank economist and his colleague Christoph Lackner captured in a simple picture how global growth in two decades of rapid globalisation had accrued
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Through the little country town of Machynlleth, just before the old Dyfi blast furnace and down the potholed lane through fields, woods and over the River Einion, you’ll find Wales’s best restaurant. Though the setting is deeply rural — getting here by car takes three hours from Cardiff, more like six from London — those
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Levi Strauss does not expect to be able to reopen in Russia this year, its chief executive said on Wednesday, a month after the California jeans maker suspended operations there “temporarily” in response to Vladimir Putin’s invasion of Ukraine. “The way things are going now, I’m not optimistic we’ll be back in business in full
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SEC chairman Gary Gensler testifies before a Senate Banking, Housing, and Urban Affairs Committee hearing on Sept. 14, 2021 in Washington. Evelyn Hockstein-Pool/Getty Images The Securities and Exchange Commission has voted unanimously to propose a rule for the registration and regulation of security-based swap execution facilities. A swap execution facility, or SEF, is an electronic
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Good evening, Two Financial Times reports from opposite sides of the world highlight the severe stresses on global food production from the shock of coronavirus followed by the war in Ukraine. In China, strict Covid lockdowns are exacerbating shortages of fertiliser, labour and seeds just ahead of the crucial spring planting season. Particularly badly affected
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France’s presidential election is turning out to be a tight and unpredictable contest. The far-right Marine Le Pen is gaining ground on President Emmanuel Macron, who last month seemed assured of re-election. Financial markets are waking up to the possibility of a stupendous upset in the election’s second round on April 24. The spread between
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Ukraine’s authorities have urged civilians in the Donbas region and around Kharkiv to evacuate after Russian forces stepped up their offensive in eastern Ukraine and further evidence emerged of atrocities by Moscow’s troops elsewhere in the country. Iryna Vereshchuk, Ukraine’s deputy prime minister, said on Wednesday the military authorities called on residents living in the
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The US has imposed its most severe level of sanctions on Sberbank, Russia’s largest financial institution, and Alfa-Bank, the country’s biggest private bank, escalating its economic punishment of Moscow in response to atrocities committed by Russian forces in Ukraine. The announcement on Wednesday of “full blocking sanctions”, which prevent the lenders from transacting with any
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