The problem, of course, lies in internet governance—namely, the absence of rules. The virtues of cyber-libertarianism have become inseparable from its vices
The double dip of early 2021 will be a painful reminder of the lingering vulnerability of the US business cycle in the aftermath of a major recessionary shock
As market celebrate the coming vaccine-led bloom, epidemiological and political aftershocks have pushed the US back into heightened economic vulnerability
Soaring financial markets are blithely indifferent to lingering vulnerabilities in the US economy. But the impact of consumers’ fear of Covid-19 on pandemic-sensitive services is unlikely to subside, undermining the case fo
As the world’s most unloved major currency, € may well be headed for an exceptional run of its own. Downward pressure on $ will only intensify as a result
No country can afford to squander its saving potential—ultimately, the seed-corn of long-term economic growth. That’s true even of the United States, where the laws of economics have often been ignored under the guise of
The best that economists can do is to assess vulnerability. Looking at imbalances in the financial markets gives a sense of the potential consequences of a major shock
A recent IMF study found that GVCs accounted for fully 73% of the rapid growth in global trade that occurred over the 20-year period from 1993 to 2013.
Multilateral problems require solutions aimed at the macroeconomic imbalances on which they rest. That could mean a reciprocal market-opening framework
In 2018, net exports were just 0.8% of China’s GDP, which represents a dramatic compression from a decade earlier, when net exports accounted for a full 7.5% of real GDP. While hardly an oasis in a weakening global economy,
Chinese policymakers have moved aggressively to avoid the dreaded Japan syndrome—not just a debt overhang, but also a profusion of zombie companies and related productivity challenges.
Transforming a zero-sum conflict of codependency into a positive-sum relationship of mutually beneficial interdependence is the only way to end this economic war.
The us president’s fiscal and trade policies show no appreciation of the linkage between trade deficits and macroeconomic saving-investment imbalances.
China will likely stay its current course. Normal leadership Succession or not, It can’t now turn Back from a transition that has brought it to the brink of prosperity