Mycket skulle kunna gå fel 2017, enligt Investmentföretaget Nomuras varning till sina kunder. (TT)

Tio ”grå svanar” som kan chocka världsekonomin

Brexit, Donald Trumps seger, och det plötsliga raset på obligationsmarknaden har lärt analytiker att så kallade svarta svanar framöver kanske snarare bör beskrivas som gråa, skriver Bloomberg.

Investmentföretaget Nomura varnar nu sina kunder för tio otippade händelser med stor påverkan som mot förmodan skulle kunna inträffa under 2017. Bland annat kan Ryssland efter annekteringen av Krimhalvön komma att attackera flera länder i Östeuropa, Kina låta valutan flyta, Storbritannien backa ur brexit och utvecklingsekonomier göra marknadsuppror mot effekterna av Trumps expansiva politik och den starka dollarn.

Dessutom kan den japanska inflationen ta fart, minusräntorna leda till att kontanter avskaffas – och Trump hamna i konflikt med Federal Reserve.

bakgrund
 
Svarta svanar-teorin
Wikipedia (en)
The black swan theory or theory of black swan events is a metaphor that describes an event that comes as a surprise, has a major effect, and is often inappropriately rationalized after the fact with the benefit of hindsight. The term is based on an ancient saying which presumed black swans did not exist, but the saying was rewritten after black swans were discovered in the wild. The theory was developed by Nassim Nicholas Taleb to explain: The disproportionate role of high-profile, hard-to-predict, and rare events that are beyond the realm of normal expectations in history, science, finance, and technology. The non-computability of the probability of the consequential rare events using scientific methods (owing to the very nature of small probabilities). The psychological biases which blind people, both individually and collectively, to uncertainty and to a rare event's massive role in historical affairs. Unlike the earlier and broader "black swan problem" in philosophy (i.e. the problem of induction), Taleb's "black swan theory" refers only to unexpected events of large magnitude and consequence and their dominant role in history. Such events, considered extreme outliers, collectively play vastly larger roles than regular occurrences. More technically, in the scientific monograph 'Silent Risk', Taleb mathematically defines the black swan problem as "stemming from the use of degenerate metaprobability".

Tidigare om oron i världsekonomin

bakgrund
 
Xinhua
Wikipedia (en)
The Xinhua News Agency (English pronunciation: /ˌʃɪnˈhwɑː/) is the official press agency of the People's Republic of China. Xinhua is the biggest and most influential media organization in China. Xinhua is a ministry-level institution subordinate to the Chinese central government. Its president is a member of the Central Committee of China's Communist Party. Xinhua operates more than 170 foreign bureaus worldwide, and maintains 31 bureaus in China—one for each province, plus a military bureau. Xinhua is the sole channel for the distribution of important news related to the Communist Party and Chinese central government. Xinhua is regarded as the most influential media outlet in China as almost every newspaper in China relies on Xinhua feeds for content. People's Daily, for example, uses Xinhua material for approximately 25 percent of its stories. Xinhua is a publisher as well as a news agency—it owns more than 20 newspapers and a dozen magazines, and it prints in eight languages: Chinese, English, Spanish, French, Russian, Portuguese, Arabic, and Japanese.
bakgrund
 
Trans-Pacific Partnership (TPP)
Wikipedia (en)
The Trans-Pacific Partnership (TPP) or Trans Pacific Partnership Agreement (TPPA) is a trade agreement among twelve of the Pacific Rim countries—notably not including China and India. The finalized proposal was signed on 4 February 2016 in Auckland, New Zealand, concluding seven years of negotiations. It is currently awaiting ratification to enter into force. The 30 chapters of the agreement aim to "promote economic growth; support the creation and retention of jobs; enhance innovation, productivity and competitiveness; raise living standards; reduce poverty in the signatories' countries; and promote transparency, good governance, and enhanced labor and environmental protections." The TPP contains measures to lower both non-tariff and tariff barriers to trade, and establish an investor-state dispute settlement mechanism. The TPP began as an expansion of the Trans-Pacific Strategic Economic Partnership Agreement (TPSEP or P4) signed by Brunei, Chile, New Zealand, and Singapore in 2005. Beginning in 2008, additional countries joined the discussion for a broader agreement: Australia, Canada, Japan, Malaysia, Mexico, Peru, the United States, and Vietnam, bringing the total number of countries participating in the negotiations to twelve. Current trade agreements between participating countries, such as the North American Free Trade Agreement, will be reduced to those provisions that do not conflict with the TPP or provide greater trade liberalization than the TPP. The United States government considers the TPP a companion agreement to the proposed Transatlantic Trade and Investment Partnership (TTIP), a broadly similar agreement between the U.S. and the European Union. Participating nations aimed at completing negotiations in 2012, but the process was prolonged by disagreements over contentious issues, including agriculture, intellectual property, and services and investments. They finally reached agreement on 5 October 2015. Implementing the TPP has been one of the trade agenda goals of the Obama administration in the U.S. On 5 October 2015, Canadian Prime Minister Stephen Harper stated he expected "signatures on the finalized text and deal early in the new year, and ratification over the next two years." A version of the treaty text "Subject to Legal Review (...) for Accuracy, Clarity and Consistency" was made public on 5 November 2015, the same day President Obama notified Congress he intended to sign it. On November 11, 2016, it was reported that, due to Donald Trump's election to President, the White House would not pursue passing the agreement.
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