News

The maritime insurance market is reacting to the current US-Israel conflict with Iran in a way that often looks shocking from the outside. The most dramatic move has not been the immediate destruction of a huge number of ships, but the sudden explosion in war-risk insurance premiums for vessels entering or operating near the Strait of Hormuz, the Persian Gulf, the Gulf of Oman, and connected danger zones. This matters because marine war-risk pricing is one of the fastest financial transmission channels through which war enters global trade.… Read more

U.S.–China trade since China’s WTO entry has produced vast but uneven rewards: American corporations captured high profits by offshoring production to China’s low‑cost labor base while selling into its expanding consumer market, boosting margins and shareholder returns, and giving U.S. consumers cheaper goods. China, meanwhile, gained surpluses, foreign investment, jobs, and rapid GDP growth, transforming into the world’s manufacturing hub. Yet much of the value added and profit flowed back to U.S.… Read more

In previous generations, owning a home by early adulthood was a rite of passage. Today, for millions of Millennials and even Gen Z, the goal of homeownership is becoming increasingly elusive. In the United States and United Kingdom, younger adults face soaring property prices, stagnant wages, and fierce competition that have pushed the dream of owning property out of reach. Meanwhile in China, a very different story has unfolded – homeownership rates have surged to world-leading levels, though not without caveats.… Read more

In recent years, a striking shift has emerged in labor markets on both sides of the Atlantic: many skilled tradespeople now out-earn average university graduates. Data show that electricians and plumbers earn median salaries around $60–62K in the U.S. and £45K–50K in the UK, figures that often exceed what many graduates take home in their first jobs. Meanwhile, college graduates face high tuition costs and mounting debts – averaging $39K in student loans in the U.S.… Read more

In recent decades, the “middle class” in advanced economies has come under intense pressure. Across the United States, the United Kingdom, and the European Union, median-income families have seen their incomes stagnate while the costs of housing, education, and healthcare have soared. Their share of national wealth and income has shrunk even as corporate profits and the incomes of the very rich have climbed. Union membership and collective bargaining power have weakened, workplace protections eroded, and new “gig” and part-time jobs have proliferated.… Read more

Over the next few decades, an unprecedented flow of assets will pass from older generations to their heirs. In the United States alone, analysts estimate nearly $124 trillion in assets will “change hands” by 2048, a sum many call the largest intergenerational transfer in history. Globally, banks and consultancies project on the order of $80–100 trillion will shift from Baby Boomers to Gen X, Millennials and Gen Z in coming decades.… Read more

The latest labor-market data paint a troubling picture: well over one million Americans with bachelor’s degrees remain jobless, a count that is growing and stands near all‑time highs. BLS surveys show that as of late 2024 roughly 1.5 million workers aged 25+ with a BA or higher were unemployed – and by mid‑2025 that number approached nearly 1.9 million. This surge far exceeds the historical norm. For example, on the eve of the pandemic (2019) the number of unemployed college-educated workers was closer to 1.2 million.… Read more