Alexandre Leroy

Entre constitution de stocks et diversification des fournisseurs, quel choix pour les entreprises ? : Pour se prémunir des ruptures d’approvisionnement en matières premières ou en composants, les entreprises importatrices adoptent principalement deux…
insee.fr/fr/statistiques/8668760

Nous mettons en accès public un document de travail (« working paper ») qui reprend et étend la note 92 de l’IPP sur l’imposition des milliardaires (1/10) www.ipp.eu/publication/...

Other people’s money, and the problem with Mileism The US Treasury needs to get Argentina on a better policy path before it blows through the Exchange Stabilization Fund

Top notch post from Brad Setser & Stephen Paduano on Milei and the Trump bailout.

"... there are no atheists in foxholes. And there aren’t many libertarians in a financial crisis."

on.ft.com/3Iq4QpH

Does China Underconsume? Misadventures in Alternative Data

1/15
This interesting essay by Oliver Kim on Chinese underconsumption was set off by a recent C40 Policy brief that argues, in the words of its title, that "China's consumption is not nearly as low as it appears."

www.global-developments.org/p/does-china...

1/12 This Foreign Affairs piece by Dan Wang and Arthur Kroeber argues the US misunderstands why China succeeds in tech and manufacturing. The problem isn't that China "cheats" - it's built deep infrastructure enabling rapid innovation. I agree.

buff.ly/ZpA3DSo

The whole China green manufacturing thing is understood - I think? - as a key factor in the energy complex, geopolitics, and climate. People have heard of the Pakistan story; where a quarter of electricity is now solar compared to >10% in 2023.
But, like: things keep happening!

Kenya in Talks With China to Convert Dollar Loans Into Yuan Debt Kenya is in talks with China to convert dollar-denominated debt the East African nation owes its biggest bilateral lender to yuan and extend the repayment period, Treasury Secretary John Mbadi said.

1/9
Kenya is in talks to convert the debt it owes to China from USD to RMB. About $5 billion of its $40 billion in external debt is owed to China.

It makes sense for developing countries to diversify their external debt away from a single currency.
www.bloomberg.com/news/article...

Can’t we track who’s selling via the TIC SLT data ?

Important Fed study showing evidence of de-dollarization in Chinese bank lending. When Chinese banks lend to other EMs, they are now doing so in RMB
www.federalreserve.gov/econres/note...

China's Overseas Lending in Global Finance Cycle Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, an...

It pairs well, and somewhat contradicts this paper by Jiang : www.nber.org/papers/w33519

How Xi sparked China’s electricity revolution [FREE TO READ] Beijing’s aggressive pursuit of energy self-sufficiency could give it the upper hand in the trade war with the US

China is on its way to becoming the world’s first major 'electrostate', with a growing share of its energy coming from electricity and an economy increasingly driven by clean technologies 📈🌏🧵
w/ @janatausch.bsky.social and Ed White

on.ft.com/3EWY5Kd

Please do!