FT News Briefing Marxism degrees are having a moment in China
Jul 7, 2022
The UK faces political turmoil as pressure mounts on Boris Johnson to resign, yet the pound remains surprisingly steady. In China, an unexpected trend emerges with a surge in demand for Marxism graduates, driven by private enterprises eager to align with government initiatives. The curriculum shift towards Marxism reflects a push to enhance loyalty to the Communist Party amid competition with the West. This economic backdrop has created attractive opportunities, making teaching Marxism a lucrative profession in a challenging job market.
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Pound Stability
- The British pound has remained stable despite calls for Boris Johnson's resignation.
- Currency traders seem unaffected by the political drama, focusing more on recession fears and the rising dollar.
Sterling Outlook
- Sterling's short-term value isn't directly linked to political events, but long-term prospects are less clear.
- A general election or Scottish independence referendum could impact Sterling, or a Johnson resignation might cause a rally.
Regulatory Limits
- The Supreme Court's EPA ruling limits its power over greenhouse gases and sets a precedent for other regulators.
- This legal doctrine could affect agencies like the SEC, particularly its expansion of climate change disclosures.