Chinese Yuan has surpassed the Euro in global trade invoicing!
On one hand, it shouldn't be surprising since China is the world's #1 exporter and #2 importer. Of course, Western experts in echo chambers have always derided RMB.
However, as Russia starts trading with the rest of the world in Yuan -- as Putin announced a few days ago -- the dawn of a multicurrency world will become more obvious.
https://t.co/jFoiCRXF5C
This article by @Noahpinion amused me.
It seeks to explain why China can't quit coal energy, and is adding renewables on top of coal rather than retiring coal.
But it's a surface-level, highly incomplete explanation. Here's what's missing.🧵
https://t.co/186GXOhGRl
The United States is launching the Welcome Corps, the boldest innovation in refugee resettlement in four decades. This initiative enables Americans to directly support refugees and show the best of American hospitality and generosity. #JoinTheWelcomeCorps
@MTabarrok Liu Cixin's Three Body Problem trilogy seems like an easy example from a great PRC author, but I'm also quite partial to his Ball Lightning, which is a more narrow application.
On December 19, the energy ministers of the European Union agreed on a Market Correction Mechanism for natural gas. Why do we need such a mechanism? What might it accomplish?
A thread.
@trendlinehq@elonmusk I don’t think this is a good metric though
The nature of technology is leverage. Revenue per employee should ideally grow exponentially, not stay flat
Really interesting report here:
1) World opinion is polarizing on China/Russia vs US lines
2) Favorability toward Russia/China is much more correlated with social liberalism than it used to be
3) Social liberalism has surged in high-income democracies
https://t.co/XwvTmKD4N5
I wish every single person in the West would listen to Putin's speech. Obviously, that won't happen so let me summarise as a professional translator for 10+ years. He states, as he has done from the outset, what his intentions and complaints are in the plainest terms possible.🧵
PMC Wagner Group Evgeny Prigozhin is at a penal colony looking for new assault infantry to join his company. Refers to some of those who served 30 years in prison and died in battle as "heroes".
Heavier cars are safer for their drivers, but far deadlier for everyone else.
This paper find that for every 1,000 pounds a car weighs over a Toyota Corolla, the chance of killing another person goes up by 46%! Heavier vehicles lead to 28k more US deaths. https://t.co/PdvC6OEPWz
Energy demand is far more price elastic than has commonly been suggested. Crucial review of recent studies based on micro data!
https://t.co/CgEEriAfX1
*BREAKING* 4 SOEs of China, including PetroChina, China Life Insurance, Sinopec, and Aluminum Corporation of China, have all announced to exit from New York Stock Exchange today.
1/ I've spent the last 18 months investigating how our government reached the point of taking children away from their parents as a way to discourage migration to the United States. Here's my story about how and why it happened, and who's responsible.
https://t.co/rceRAqRPB7
What is the single most significant step the United States can take to sustain the technological predominance we have enjoyed since World War II? As @ericschmidt and I argue in @ForeignPolicy, the obvious answer is to recruit the million most talented technologists in the world