A productivity surge in the US oil industry. Taiwan's AI exports. The price of data and Joan Didion putting the boot in.
Great links, images and reading from Chartbook Newsletter by Adam Tooze
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William Eggleston (American, born 1939). “Kyoto,” (2001). Source: Foundation Cartier
The trans-Atlantic divergence in GDP growth since 2018 has been stark.
Source: The Daily Shot
Which US industry has tripled output per worker in the last decade?
Productivity in the oil and gas extraction sector almost tripled in the 10 years ending in 2022, compared with a near-doubling in some tech-driven industries. US productivity growth has been a big topic of debate among economists, many of whom wonder how much the recent jump is being driven by artificial intelligence and to what extent AI will affect it in the future
Source: C. Saraiva, D. Wethe, M. Ferman, and K. Crowley in Bloomberg
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Intel is trying to dig itself out of a deep financial hole.
For contributing subscribers only.
Taiwan is a one-stop shop for AI hardware
Today, the biggest cloud service operators — Microsoft, Amazon.com Inc., Meta Platforms Inc. and Alphabet Inc.’s Google — all use Taiwanese assemblers to fill their server farms as they seek to outdo OpenAI’s ChatGPT. Global spending on AI systems and services is expected to more than double to $632 billion by 2028, according to the research firm IDC. “Taiwan is a one-stop shop for AI-related hardware,” said Liu Pei Chen, a researcher at the Taiwan Institute of Economic Research.
Source: Jane Lanhee Lee and Vlad Savoy in Bloomberg
How the structure of IMF lending has been rebalanced: NB there is a 10x difference in the scale of these two graphs.
Source: The International Monetary Fund
Bitcoin Nears Highs. Crypto Is Already The Election’s Big Winner.
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William Eggleston (American, born 1939). “The Red Ceiling (Greenwood Mississippi,” (1973). Source: WikiArt
Brazil’s G20 Summit in November 2024: A really useful overview by Robert Wade
High stakes, high drama Professor Robert Wade discusses Brazil’s upcoming hosting of the G20 summit, outlining its challenges in navigating global governance dynamics, geopolitical tensions, and the quest for inclusivity and legitimacy within the forum. The president and government of Brazil host the next G20 summit, in Rio de Janeiro, November 18-19, 2024. It is the high point of several major global gatherings the government of Brazil wi l host in 2024 and 2025, including the Clean Energy Ministerial meeting in 2024, the presidency of the BRICS in 2025, and presidency of the climate COP30 in 2025.
Source: Robert Wade
Only in Switzerland is mobile data more expensive than in the USA!
Source: Bruno Venditti in Visual Capitalist
Galileo Galilei (1564-1642). “Drawings of the Moon,” November to December 1609. Florence, Biblioteca Nazionale Centrale.
h/t Maryam Sadr
Joan Didion on the “Deferential Spirit”
Source: New York Review of Books, h/t Natasha Lennard
William Eggleston (American, born 1939). “Untitled,” (1985). Source: Gather Journal
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