Economix

  1789 – Storming of the Bastille Event : French revolutionaries stormed the Bastille prison in Paris. Economic Impact : Marked the collapse of feudal privileges and led to sweeping reforms in taxation, land ownership, and labor rights. It laid the groundwork for modern economic structures in France. 1798 – Sedition Act Passed in the U.S. Event : The U.S. government enacted the Sedition Act, criminalizing criticism of the government. Economic Impact : Reflected tensions in early American politics and had implications for press freedom and public discourse, which indirectly influenced economic policy and investor confidence. 1853 –  Commodore Perry’s Visit to Japan Event : U.S. naval officer Matthew Perry arrived in Tokyo Bay. Economic Impact : Though not immediately on July 14, his visit initiated trade relations that ended Japan’s isolation and opened its economy to global commerce. 1931 – South Dakota Grasshopper Plague Event : Governor Warren Green pleaded for federal ...

By Economix I n July 1997, a decision to float Thailand’s baht triggered a financial tsunami that would engulf much of East and Southeast Asia. Known as the Asian Financial Crisis , it was more than a currency collapse—it was an unmasking of systemic fragilities and a harsh lesson in global interconnectivity. From shuttered finance companies in Bangkok to soaring unemployment in Jakarta and international bailouts negotiated under pressure, the crisis forced a reckoning in both policy and practice. This investigation explores not only the causes and course of the crisis but also the reforms it catalyzed—and how those reforms continue to shape the global financial order. The Origins of the Crisis: Thailand as Ground Zero The origins of the crisis lay in Thailand’s overheated economy . Throughout the early 1990s, the country enjoyed rapid growth fueled by foreign capital inflows , much of it speculative and short-term. Real estate and equity markets ballooned, as banks provided unchecked...

Global Economic Highlights U.S. Economy Contracts Sharply: The U.S. economy shrank by -0.2% in Q1, a much steeper decline than expected. This has rattled markets and raised fears of a potential recession. However, durable goods orders rebounded by +8.6%, suggesting business investment remains resilient. Oil & Commodities Volatility: Oil prices briefly surged past $78 per barrel due to Middle East tensions but have since settled around $75, as OPEC+ signals possible production increases. Gold is holding steady near $1,950/oz, reflecting investor caution amid geopolitical uncertainty. UN Anti-Corruption Milestone: The UN Global Compact marked the end of its 15-year anti-corruption initiative, highlighting how ethical business practices have become central to sustainable development and investor confidence. Global Economic Outlook: According to Coface’s June 2025 Risk Review, the world economy is entering a phase of “uncertainty as the new normal.” Trade tensions, U.S. tariffs, an...

  1900 – Japan Mobilizes Troops During Boxer Rebellion. Japan sent 20,000 troops to China, asserting its regional influence. This military-economic move foreshadowed Japan’s rise as a dominant power in East Asia. 1945 – United Nations Charter Signed. In San Francisco, 50 nations signed the UN Charter, laying the foundation for post-WWII international cooperation. Economically, this marked a shift toward global governance and multilateralism, influencing trade, development, and aid for decades. 2018 – Iranian Currency Crisis Protests. On June 26, protests erupted in Tehran over the collapsing rial. Citizens blamed government mismanagement and U.S. sanctions. It was the largest economic protest since 2012, highlighting Iran’s vulnerability to external pressure. 2025 – Asia Economic Summit in Jakarta Held on June 26, this summit brought together ASEAN leaders, investors, and tech innovators to discuss AI, digital infrastructure, and regulatory shifts. It reflected Southeast Asia’s...

  President Donald Trump declared on Wednesday a 10% baseline tax on imports from all countries and higher tariff rates on dozens of nations that run trade surpluses with the United States, threatening to upend much of the architecture of the global economy and trigger broader trade wars. Trump held up a chart while speaking at the White House, showing the United States would charge a 34% tax on imports from China, a 20% tax on imports from the European Union, 25% on South Korea, 24% on Japan and 32% on Taiwan. The president used aggressive rhetoric to describe a global trade system that the United States helped to build after World War II, saying “our country has been looted, pillaged, raped, plundered” by other nations. Trump declared a national economic emergency to launch the tariffs, expected to produce hundreds of billions in annual revenues. He has promised that factory jobs will return back to the United States as a result of the taxes, but his policies risk a sudden econom...

  Donald Trump's "Liberation Day" is coming. The US President has promised to restore the "golden age" of American wealth and independence by rolling out a set of massive tariffs that he says will free the United States from dependence on foreign goods. The action targeting countries that have persistent trade gaps with America is set to be announced on April 2, Wednesday, a day the White House dubbed "Liberation Day".  The American President is expected to shake up global markets and economies. It may also affect the lives of common Americans by further straining the family budgets as the next round of import taxes may raise the prices of several household commodities. The details of Trump's move are still sketchy, but most economic analyses say that average US families would have to absorb the cost of his tariffs in the form of higher prices and lower incomes.  But an undeterred Trump is inviting CEOs to the White House to say they are investing ...