In Germany the harsh winter has conveyed dramatic warning of how nasty life will become as it proceeds with its extreme Energiewende policy to rely on renewables to meet its electricity needs.

Last week I was introduced to a remarkable residential development in Chiang Mai, the charming city in northern Thailand where we live.

Those of us who have been around long enough know something about booms and busts (I was lucky enough to choose to exit the dotcom mania on the day the market peaked). So, is this the right time to flee the share markets? Not yet. I agree with Eoin Treacy that although “there is clear evidence a mania is evolving… there is no evidence it has reached its peak.”

The Group of Seven major economies have agreed to introduce a 15 per cent minimum corporate tax rate to be applied worldwide by national governments. Less is being said about seeking global agreement on the basis of implementing the tax – a more important and much more controversial issue.