The Himalayan conflict zone, macro imbalances & opium prices.
Great images, links and reading from Chartbook Newsletter by Adam Tooze
A map drawn to highlight the Sino-Indian Himalayan border zone offers a striking angle on the world.
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Macro imbalances
China continues to pile up the largest current account surpluses ever recorded by any country anywhere.
Source: Daily Shot
China’s surplus stack on top of the petrodollars being accumulated by Russia and Saudi
Russia has surpassed Iraq and Saudi Arabia as India’s largest supplier of oil
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Japan’s balance of payments
One a trade surplus champion, Japan now runs a trade deficit largely offset by its gigantic income from overseas assets.
From Matt Klein at the Overshoot
Not ending yet: trade globalization since 1827.
But Martin Wolf in FT is seriously worried.
Tinbergen’s rule
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Taliban drug ban
On 3 April 2022, the Taliban imposed a comprehensive ban on the cultivation, production, trade and use of all drugs, not just on opium poppy cultivation but also the production of opiates, such as morphine base and heroin, cannabis and hashish as well as the burgeoning production and trade of methamphetamine in Afghanistan.
One immediate impact was to send opium prices through the roof.
Source: ALCIS
Tomorrow … all-star philosophy of history line up!
Refugees, Asylum-Seekers and Venezuelans Displaced Abroad, 2000–2020 (Millions)
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Ten most neglected refugee crises … are all in Africa
Owls