The Bottom Line

The government isn’t retiring debt; it’s swapping expensive long-term IOUs for more short-term borrowing

Lies, damned lies and stock markets

Policymakers should focus on tax and planning reform to encourage enterprise rather than financial deregulation

The push for defence indigenisation and exports will boost growth, but more spending demands fiscal discipline

While subsidies direct increasing exports towards favoured sectors, they do not cause the surge

A cut in levies may not be the unequivocal boon for the city’s financial sector

The US dollar’s status as a reserve currency is not what it used to be

By hitting Moscow’s most important sectors, new US legislation would pile on enormous pressure

Younger workers, foreseeing the fall of horse-drawn carriages, began to shun the job, creating expected obsolescence