The era of ultra-low interest rates and cheap finance has driven a global house price boom, and in New Zealand the house price-to-income ratio has topped that of many OECD nations. But now, as interest rates rise and prices dip, the nation’s housing market has become something of a canary in the coal mine for the rest of the world.
Over the past 12 months Covid-19 has curtailed countless business activities, but not money laundering. The UN estimates some $1.6tn is laundered every year, and authorities say lockdown measures have presented criminals with even greater opportunities...
A number of governments, central banks and even some economists now advocate a switch to all-digital currencies. With the rapid rise of mobile payments, the long-term survival of cash seems precarious.
If the US put tariffs on Chinese goods, the impact would be felt way beyond the borders of both countries. China is the world’s biggest exporter, but it’s also the second biggest importer, with many of those imports coming from other Asian countries.
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