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Before comparing yourself with others, win the battle with yourself. Strive to be better today than yesterday, and better tomorrow than Enter your email address to follow this blog and receive notifications of new posts by email. LONDON – Brazil’s new foreign minister, Ernesto Araújo, is on record as believing that climate change is a plot launched by “cultural Marxists” to stifle Western economies. These nefarious forces’ environmentalist “dogma has been used to justify increasing the regulatory power of states over the economy.” Continue reading Climate Change, Markets, and Marxism HONG KONG – On the 40th anniversary of the launch of China’s “reform and opening up,” the country is well on its way to recapturing its former status as the world’s largest economy, having made substantial progress toward modernizing its agricultural sector, industry, defense systems, and scientific capabilities. But four major traps lie ahead. Continue reading China’s Four Traps LONDON – In the beginning, British Prime Minister Theresa May had a plan: “Brexit means Brexit.” The idea was to withdraw the United Kingdom from the European Union so fast that voters would not realize they had been sold a bill of goods during the EU referendum campaign and should therefore not punish the Conservative Party for having lied to them. Continue reading Decline and Fall of Brexit LONDON – The British government has now launched its plan to turn the United Kingdom into an “exporting superpower.” It is an ambitious, if not entirely fanciful, goal. Continue reading Britain’s Losing Trade Strategy TIRANA – Poor countries export raw materials such as cocoa, iron ore, and raw  diamonds. Rich countries export – often to those same poor countries – more complex products such as chocolate, cars, and jewels. If poor countries want to get rich, they should stop exporting their resources in raw form and concentrate on adding value to them. Otherwise, rich countries will get the lion’s share of