Jan 5, 2018

Americans owe more, save less, and are poorer than in decades

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World Bank changes hiring rules after asking Taiwanese staff to get Chinese passports

World Bank President David Malpass. Photo: Mandel Ngan/AFP via Getty Images

The World Bank has revised its staff rules after Axios reported in December that the bank had asked Taiwanese employees to obtain Chinese passports.

Why it matters: The revised rule, issued on Dec. 19, states that the World Bank gives hiring preference to nationals from member states, but does not prohibit hiring non-member state nationals. China has sought to squeeze out Taiwanese nationals from international institutions. The World Bank's new rules represent a compromise position.

Go deeperArrowJan 9, 2020

The world's fast-growing mountain of debt

The world's total debt surged by some $9 trillion in the first three quarters of 2019, according to data from the Institute of International Finance, bringing the world's total debt load to $253 trillion, or 322% of its GDP — a record high.

Why it matters: In times of economic strength, economists exhort countries to pare back their debt burdens and pay it down to protect against future unrest and downturn.

Go deeperArrowJan 13, 2020

Investors jump on the emerging markets bandwagon

Reproduced from TCW Group; Chart: Axios Visuals

A growing chorus of U.S.-based fund managers is betting that emerging market stocks and bonds are poised to outperform U.S. assets this year. The momentum for emerging markets has grown so strong that it has become almost a consensus trade, with investors even urging clients to buy EM junk bonds.

What's happening: Following 2019's blowout returns for U.S. stocks and strong performance for high yield, government and even municipal bonds, investors expect U.S. assets to fall to earth in 2020 and are positioning in emerging markets.

Go deeperArrowJan 14, 2020