Misreading the Global Economy

It's important because misreading is really the chance for complication and opportunity.

And the danger of that, of course, is that a misreading of a radar screen could actually cause a counter launch, even though the first country had not actually launched anything.

In the reform period, this misreading of Marx morphed into an unrestrained pursuit of material gain devoid of morality. Traditional Chinese culture, with its emphasis on harmony between human beings and nature, was thrown aside.

The report contained a number of subjective interpretations, including a misreading of Israel's statement that, while it had relinquished any authority to operate militarily in the Gaza Strip, it reserved its right to act in self defence.

While no one should be under any illusion that Iran has been a model international citizen, or is likely to become one any time soon, this perception of the country s nuclear ambitions involves a fundamental misreading of the dynamics in play.

That would be a grave strategic error, based on a fundamental misreading of Asian security dynamics. Most of China s neighbors, even North Korea, fear an unconstrained Chinese hegemon and, if the US security presence were eliminated, that is precisely what they would face.

Deflation fears were mistakenly raised in 2001 2003, when the strong response of the US housing market and consumer spending to lower interest rates should have made the debate redundant. Influenced by a misreading of the Japanese experience, this led to excessive protection against the tail risk of deflation.