FURTHER FURTHER READING
- Miles Kimball and Noah Smith on the battle for the soul of macroeconomics.
- The (non)politics of stagnation.
- Peter Orszag on activist investors.
- Turning workers into capitalists.
- Automation, inequality and geopolitics.
FT EVENING ROUND-UP
EU accuses US of improperly trawling citizens' online data: "Brussels is to warn Washington that US tech companies risk losing their exemption from privacy rules unless the US changes the way it treats EU citizens' online data. A European Commission review of the "safe harbour" pact that allows US technology groups such as Google, Facebook and Microsoft to operate in Europe without EU oversight will conclude that Washington has improperly forced US companies to hand over European customers' data. It also says that breaches of the data deal have given US tech companies a competitive advantage over European rivals." (Financial Times)
Energy reform stirs Mexico's deepwater opportunities: "More than 50 miles after leaving the Mexican port of Veracruz, with nothing on the horizon but the odd fishing boat, the huge red Centenario rig with its imposing metal tower suddenly rises up out of the Gulf of Mexico. Welcome to the offshore, deepwater Lakach field, which state-owned oil company Pemex believes holds a total of 4tn cubic feet of gas – equivalent to roughly 16 years of gas supply for the UK. In the ancient Maya language, lakach means 'everything', and it illustrates all that there is to play for in Mexico's energy reform, which plans to allow private investment in the sector for the first time since 1938." (Financial Times)
China launches antitrust probe into Qualcomm: "Chinese regulators have launched an antitrust probe into Qualcomm as the country gears up for the launch of high-speed LTE networks, a market where the US company has become an early leader and owns important patents. Qualcomm disclosed the investigation, by China's National Development and Reform Commission, on Monday. It said the probe involved the country's Anti-Monopoly Law, though it was "not aware of any charge" by the regulators that it had broken the law." (Financial Times)
