1. A new paper on the Dutch debacle, coauthored by Peter Koudijs at Stanford Graduate School of Business, turns up modern-day lessons about the not-so-scientific ways in which personal experience rather than market information can determine optimism, pessimism, and access to credit.
西西软件园 Yet expectations for the summit meeting on Tuesday are low, with no sign of any political breakthrough that would lead to more ambitious efforts. Scientists say emissions must peak within the next few years, and then begin to decline, if the world is to have any hope of keeping global warming to an upper limit that countries agreed on five years ago. So far, no plans are in place that would come close to achieving that.
The Baltic Dry index, a measure of the trade in bulk commodities, has been touching historic lows. China, which in 2014 overtook the US as the biggest trading nation, this month reported double-digit falls in both exports and imports in January. In Brazil, which is experiencing its worst recession in more than a century, imports from China have collapsed.