Finance & Monetary Systems

Uncertainty about future gas supply can raise prices before deliveries fall Energy costs propagate broadly through production and household expectations Reliable supply arrangements complement rather than replace monetary policy

Chinese competitiveness combines manufacturing capability with state support Trade remedies need evidence about the distortion they address Critical-mineral dependence requires resilience as well as trade enforcement

AI growth can support debt sustainability without guaranteeing it Income composition and taxation determine the public revenue dividend Budgets must distinguish realised receipts from anticipated productivity

Stablecoin risk depends on redemption structure as well as market size A globally fungible token can face different local exit rules Cross-border safeguards must distinguish current rights from reform proposals

AI changes the balance of tasks within jobs before aggregate employment Substitution and complementarity require separate measurement Reduced hiring can weaken entry routes without increasing dismissal rates An oc

Japan’s inbound success coexists with constrained outbound mobility Exchange rates and household income affect international access Education and employment policies can reduce additional barriers Ja

Flexible and migrant labour helped subsidise China’s production-led growth Household consumption cannot deepen while income and social protection remain insecure Labour reform, hukou reform and local fiscal capacity must be treated as one policy problem