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Adam Tooze's newsletter on global political economy, financial history, and contemporary crises.

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Economy

Jul 01, 2026

Top Links 1148 Frontier markt spreads. Misallocated capital. Bad education. Bulgarian computers.

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Geopolitics

Jun 30, 2026

Top Links 1147 It's all about the chips. China's hydropower exceptionalism. Something for Smiley-stans. Debating the nongmin.

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Economy

Jun 29, 2026

Top Links 1146 The dollar's resilience. Booming gas turbines. Weaponized economic interdependence & Jay DeFeo

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Geopolitics

Jun 29, 2026

Chartbook 454: China shock 2.0 and mercantilist-on-mercantilist violence.

At Premier Lǐ Qiáng addressed the plenary opening of “Summer Davos” in Dalian China last week, something unusual happened

China

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Environment

Jun 28, 2026

Top Links 1145 Killing America's green boom. Water and power for data centers. The LatAm exception & "rag and bone" men.

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Economy

Jun 27, 2026

Top Links 1144 Data-centers driving inflation. American farmers struggling. A glut of durian & the servants of Britain's country houses.

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Economy

Jun 26, 2026

Top Links 1143 Undervalued yuan. Pressuring ASML. Dating Greenspan & the Afghan cosmonaut.

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Economy

Jun 25, 2026

Top Links 1142 Why sinodollars outweigh petroyuan. How much does the world work? The Reverse Centaur's guide to AI & saving Tilton.

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Economy

Jun 24, 2026

Top Links 1141 Why not to take swap lines too far. Drivers of Germany's slowdown. The shortage of patriots and the question of the "ailing physician".

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Germany

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Economy

Jun 23, 2026

Top Links 1140 Europe's resilient trade. How does China's R&D. DuBois in Ghana & the first use of "social capital"?

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Geopolitics

Jun 23, 2026

Chartbook 453 22 June 1941 - The 85th anniversary of the invasion of the Soviet Union.

Today marks the 85th anniversary of Operation Barbarossal the opening of the Nazi invasion of the Soviet Union

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Geopolitics

Jun 22, 2026

Top Links 1039 Mag 7 is dead. China's fiscal impasse. A different view of the world. Nigeria's soccer diaspora.

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