The Much-Too-Special Relationship
Russia’s Output Will Slump Sharply in 2015
Good afternoon, podcast listeners! This Martin Luther King, Jr. Day, we bring you a real treat of a podcast.
First, author Nicholas Shaxson stops by to participate in a fascinating discussion of the role tax havens play in today’s globalized world. He notes that the United States itself has some characteristics of a tax haven, and tells of a global race to the bottom as various states try to out-compete one another in favorable tax codes that lure multinationals.
Then, Anders Åslund, senior fellow at the Peterson Institute for International Economics, looks at the economic crisis descending on Russia. He describes how the plunging price of oil, Western sanctions, and domestic market inefficiencies and corruption are all combining to drastically lower Russia’s GDP in 2015, and paints a grim picture of the country’s foreseeable economic future.