China’s economy is disappointing. Longstanding challenges related to a misallocation of resources and poor governance are at root.
China’s Recent Economic Woes Suggest There is Something Seriously Amiss
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Economics
Unlike China, India Cannot Be an Economic Superpower
Beginning in the mid-1980s, the prevailing belief among Indian and international observers was that the authoritarian Chinese regime would
Finding Growth in a Fractured World
The Chinese economy’s current travails illustrate the growth challenges facing many other countries around the world. By re-engineering
Currency, Conflict, and Global Order
A more divided world does not imply the demise of the dollar’s central role in the global economic and financial system.
How Painful Will Disinflation Be?
Bringing down inflation often requires recession. But might this time be different? Much depends on restoring the balance between job vacancies
Flexible Exchange Rates and Emerging Markets
Starting in the 1990s – and faster since 2000 – emerging-market economies floated their currencies, hoping to insulate themselves from
America’s Mythical Fiscal Conservatives
The United States’ debt-to-GDP ratio, which improved during the inflationary spike of 2021-22, is expected to increase as inflation cools
What the Paris Finance Summit Must Do
Western countries must join the effort to transform multilateral financial institutions, even if it means ceding some of their own influence
Revisiting the Behavioral Revolution in Economics
Behavioral science has upended economics, but has not yet sufficiently changed it.
The US Debt Ceiling Debacle Is Not Over
The latest last-minute deal to raise the US debt limit does not solve the underlying political problem. On the contrary, with the country
Debt and Dysfunction in America
The latest debt-ceiling drama playing out in Washington is more worrying than usual. Even if President Joe Biden and congressional Republicans
Washington’s New Narrative for the Global Economy
While the Biden administration’s economic agenda represents a welcome departure from past Democratic presidencies, its latest actions against
The Overwhelming Case for CBDCs
‘Central Bank Digital Currencies (CBDC) offer monetary policy powerful countercyclical tools. Central banks would be foolish not to adopt
Neoliberalism’s Final Stronghold
As the world moves on from four decades of neoliberalism, the Economist remains faithful to the orthodoxy of Margaret Thatcher, Ronald Reagan,
China’s Abandoned Illusion of High Growth
China is moving away from growth for growth’s sake. Instead, the focus is on balanced growth and macroeconomic stability.
A BRICS Threat to the Dollar?
Chatter that the dollar is about to be displaced as the world’s primary reserve currency are misplaced. The issue is not so much the strength
A Bank Murder Mystery
The primary lesson learned from recent banking stress is that banks are fundamentally risky ventures. Regulation must be improved and strengthened.
In Search of a New Political Economy
The late-twentieth-century assumption that democracy and markets would ultimately triumph everywhere has since been met by an intellectual
A Reality Check for the Renminbi
While China has made great strides in internationalizing its currency, the goal of dethroning the US dollar is still far off. To undermine
In Defense of Nature-Based Carbon Markets
Though carbon-offset schemes are riddled with complexity, there is no question that they pay for something that matters. Far from being a
Crises of Uncertainty
National governments’ responses to the latest banking crisis confirm once again that some countries play by different rules than others.
A Tale of Two Banks
Is the Fed is losing control over the money supply and inflation in its efforts to combat the banking crisis?
Belonging, COVID, and Students
It has been three years since COVID shut down schools, and we are still learning about the profound impact it has had on our youngest generations.
America’s Interest in Ending the Ukraine Crisis
After more than a year of fighting, it is clear that neither side in the Russia-Ukraine war can win on the battlefield. A negotiated ceasefire