In other news
North Korea North Korea has expressed anger at the recent agreement between Soeul and Washington to allow South Korea to enhance its ballistic missile capabilities and also warned the US that it is capable of hitting the mainland with its missiles.
Barry Eichengreen writes in The Financial Times that the days of the dollar as the global exchange currency may be coming to an end. High quality global journalism requires investment.
“The US Treasury’s capacity to stand behind its obligations is limited by the revenues it can raise, which depend, in any scenario, on the relative size of the US economy. With emerging markets’ growth outstripping that of the US, the increase in the capacity of the US Treasury to supply safe and liquid assets will inevitably lag behind the increase in global transactions,” he contends.
China and Japan
Recent tensions over islands in the South China Sea are having an impact on sales of Japanse autos in China.
Confidence and hiring among small businesses declined again in September, according to a survey by the National Federation of Independent Businesses.
Is there really a teacher shortage in the US? Some are not convinced.