Book Bits: 23 October 2021

The Digital Silk Road: China’s Quest to Wire the World and Win the Future
Jonathan E. Hillman
Summary via publisher (Harper Business)
From the ocean floor to outer space, China’s Digital Silk Road aims to wire the world and rewrite the global order. Taking readers on a journey inside China’s surveillance state, rural America, and Africa’s megacities, Jonathan Hillman reveals what China’s expanding digital footprint looks like on the ground and explores the economic and strategic consequences of a future in which all routers lead to Beijing. If China becomes the world’s chief network operator, it could reap a commercial and strategic windfall, including many advantages currently enjoyed by the United States.

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Macro Briefing: 22 October 2021

* US government agency warns that climate change poses risk to financial system
* China Evergrande makes debt payment, avoids default, according to state media
* Eurozone growth slows to 6-month low in Oct as prices accelerate
* US inflation expected to linger via 10-year Treasury breakeven rate
* Fed Chairman Powell’s reappointment remains uncertain
* Global bond market may be headed for worst year since 2005
* US Leading Economic Index continued rising in September
* US existing home sales surged in September, reaching 8-month high
* Philly Fed Mfg Index: sector continues to grow at strong pace in October
* US jobless continued falling last week, dipping to new pandemic low:

Macro Briefing: 21 October 2021

* Senate Democrats consider abandoning planned tax-rate hikes
* European Union set to rebuke Poland for challenging primacy of EU laws
* UK’s energy crisis could force 20 power suppliers into bankruptcy
* China Evergrande’s shares plunge after asset-purchase deal falls apart
* Fed’s Beige Book: slower growth amid higher inflation in early autumn
* Bitcoin futures ETF reaches $1 billion in assets after record-breaking debut
* Inflation worries are driving investment flows into bitcoin, says JP Morgan
* Six reasons why Americans are reluctant to return to work
* US stock market (S&P 500) closed just below a record high on Wednesday:

Macro Briefing: 20 October 2021

* Fed Chair Powell’s inflation metrics raise doubts about transitory forecast
* US 10-year Treasury yield rises to 1.67% on Tuesday — highest since May
* Has China become uninvestable? Milken conference guests debate the question
* UN report expected to forecast that fossil fuel producers set to ramp up output
* Can carbon-sucking fans help the world reach net-zero emissions?
* Multiple factors driving labor shortage that’s slowing US recovery
* German producer prices increase at fastest annual pace in more than 46 years
* US housing starts fell in September vs. expectations for moderate rise:

Macro Briefing: 19 October 2021

* US Lawmakers focus on tougher regs to curb Big Tech’s influence
* China and Russia naval vessels sail through Japan strait
* North Korea fires ballistic missile on Tuesday
* Energy crunch threatens global recovery as winter approaches
* Is supply-crunch inflation beyond the powers of containing via monetary policy?
* Fed Chair Powell sold more than $1 million of stock as market was tanking
* North America’s largest port remains gridlocked off coast of LA
* China’s property and construction industries contracted in Q3
* Global car output at risk from China’s magnesium shortage
* Bitcoin near record high ahead of debut of futures-based ETF
* WisdomTree commodities ETF (GCC) adds 3% allocation to bitcoin futures
* US homebuilder sentiment continued to rebound in October
* US industrial output fell in September, in part due to supply-chain disruption: