Goldman Sachs discusses whether the eurozone has reached the limit of political integration.
“From its onset, the European Union was meant to develop over time into an ‘ever-closer union’, with an increasing share of decision-making being shifted from the national to the European level. At the EU level, it is often argued that new global challenges (such as the increasing economic and political weight of the BRICs) and environmental challenges (such as global warming) would make the need for a deeper political integration – allowing Europe to “speak with one voice” – even more pressing,” the research’s introduction states.
Views on the current health of the Chinese economy differ widely, but it’s hard not to be impressed by the progress the country has made in the last 20 years. Gross domestic product (GDP) per capita has risen more than ten-fold to around US$8,000 over this period, with much of this growth occurring in the […]