Was on the road in Rochester NY yesterday; seeing this building brought home how the city is a microcosm of the American approach to business dynamics and innovation.
WSJ on the micro-finance backlash: "Two Cambodian human-rights groups have filed a complaint with the ombudsman of the International Finance Corp., alleging the World Bank’s private investment arm ignored its own standards ..."
WSJ Capital Account column (Greg Ip): "The good news, according to [Kristin] Forbes [MIT], is that a plunge in stocks driven, for example, by disappointment in AI would effectively write down the IOUs the U.S. issued to foreigners to finance its deficits ..."
Bahrain / prospectus for the new $1 billion Eurobond. Detailed discussion of the war impacts (see section 2026 Iran war), reference to the new UAE & Bahrain swap, and detailed description of the $60 billion total debt. www.londonstockexchange.com/news-article...
Microcosm of Ireland's journey along the Dixit-Stiglitz income growth product differentiation path.