FT News Briefing In search of a new economic playbook
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Aug 28, 2023 Chinese corporate earnings are expected to fall as economic slowdowns take their toll. Policymakers have realized the need for a new approach after a pivotal meeting in Jackson Hole. Meanwhile, Ireland's life sciences sector remains robust despite potential tax changes, showcasing its unique advantages. The conversation also touches on the geopolitical landscape and inflation challenges shaping the economic backdrop. Additionally, tensions arise in Spain's football sphere, as corporate sponsors pull support over a controversial incident.
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China Earnings Outlook
- Chinese companies are expected to report poor second-quarter earnings, especially in real estate and finance.
- However, consumer and technology sectors have shown better performance.
Jackson Hole: New Economic Playbooks
- Central bankers at Jackson Hole acknowledged the need to adapt to structural changes in the global economy.
- These changes require new economic models and playbooks due to shifting labor markets, energy dynamics, and geopolitical forces.
Ireland's Life Sciences Industry
- Ireland's life sciences industry benefited from low taxes, EU membership, pro-business policies, and a skilled workforce.
- Despite a corporate tax increase, Ireland remains competitive, but faces challenges like housing costs and infrastructure needs.