Norway: Norway Prime Minister Says Time Has Now Come to Cut Oil Reliance
Norwegian Prime Minister Erna Solberg stated in an interview that Norway should become less reliant on its USD 800 billion oil generated wealth fund. Although put in place to provide support and help prevent the economy from overheating, the massive oil fund reserve has recently inflated asset prices and decreased export competitiveness.
Japan: Will debt derail Abenomics?
Michael Pettis states that “unless Japan moves quickly to pay down debt, perhaps by privatizing government assets, Abenomics, will be derailed by its own success.”
China: The Eyes of History Are on China’s Reformers
Caixin editorial urges the China Communist Party to implement the changes announced in the Third Plenum of the party. “There are four years to go before the party’s 19th National Congress, and history is watching.”
Ukraine: Ukraine: gas war averted, but is EU deal on?
FT Beyondbrics argues that Ukraine has stepped back from the brink of another gas war with Russia, ahead of the November EU meeting, in which is expected that the country will sign an associate agreement with the European Partnership.
Europe: Can emerging Europe’s central banks fight the Fed?
This CNBC article takes a closer look at what some central banks in former-communist eastern European countries can do to manage their own economies. Given the impact that the Fed and ECB have over global economic affairs, it initially seems that countries like Poland, Hungary, Romania or the Czech Republic have no major influence. However, CNBC describes how the central banks from these countries have been active in recent weeks.