Hey readers,
We often chase big long-term goals, believing it’s worth sacrificing today for a better tomorrow. But don’t you sometimes feel those very goals become a source of stress? I’m not saying we shouldn’t aim high. I just think it’s worth asking when patience turns into stubbornness. Are we still moving towards the goal, or are we simply too invested to change course?
Take China. Economists debate how China should increase consumption and reduce its trade surplus, as many countries face severe issues, especially the West. Some argue for structural reforms, others believe a stronger yuan is part of the answer. Beijing, however, seems far less interested in either prescription. Its priorities remain manufacturing, technological upgrading and exports. Whether that persistence proves visionary or costly is something only time will tell. Read more: Economists Are Arguing About China’s Surplus. Beijing Has Other Priorities.
The US oil industry tells a different story. For years, companies drilled longer wells, improved technology and cut costs. Those investments didn’t attract much attention when oil markets were calm. But when war disrupted supplies through the Strait of Hormuz, the industry was ready. The US increased production and exports without adding more rigs. Sometimes the long game is simply about becoming more efficient until opportunity finally arrives. Read more: US Oil Output Is Near A Record Even As Rig Count Tumbles.
Then there’s Donald Trump and Federal Reserve Chair Kevin Warsh. Trump wanted lower interest rates. Instead, markets are now discussing possible rate hikes. Yet Trump continues backing Warsh. That suggests the relationship may have been about something larger than rate cuts all along: reshaping how the Federal Reserve works and how it interacts with the government. Whether that objective succeeds, and whether that’s right in the first place, are questions for another day. But you can get more information on this here: Trump Didn’t Get The Rate Cuts He Wanted, But Got His Fed Chair.
This week’s stories are about what happens when someone keeps pursuing a long-term objective despite short-term criticism, setbacks or changing circumstances. Sometimes that persistence changes history. Sometimes it becomes an expensive mistake. And we will only be able to judge them in hindsight – I think that’s the difficult part.
That’s the week.
If you made it this far, I’d love to hear from you.
Which of these stories stayed with you? What stories can you share around these topics?
And more importantly, what should I dig into next?
An everyday object, a policy, a price that suddenly changed, a trend that’s growing around… send it my way. Just hit reply. I read everything.
See you next Saturday.
Cheers, Swapnil.
Disclaimer: The views expressed in this article are solely those of the author and do not necessarily reflect the opinion of NDTV Profit or its affiliates. Readers are advised to conduct their own research or consult a qualified professional before making any investment or business decisions. NDTV Profit does not guarantee the accuracy, completeness, or reliability of the information presented in this article.
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