China’s economy suffers from excesses in real estate, slowing GDP growth and deflation. Those trends will be difficult to reverse. China’s
Is Japan-style Deflation Coming to China?
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Why Is US Inflation Falling?
“Economists are much maligned for the bad forecasts. That criticism doesn’t hold up when it comes to falling US inflation.” However
The Populist Advantage
“Disenchantment with free markets, liberalization and globalization has opened the door to populist, simplistic ’solutions’. They
Why Debt is Too Often Misunderstood
Understanding how private, public, and foreign debt are interrelated yields important insights into the workings of the economy. It also leads
AI and the Productivity Imperative
As it stands, the global economic outlook for the next decade appears grim. But a broad-based surge in productivity – fueled by the targeted
China’s Recent Economic Woes Suggest There is Something Seriously Amiss
China’s economy is disappointing. Longstanding challenges related to a misallocation of resources and poor governance are at root.
A Warning from Carl Sagan
Almost 40 years ago, Carl Sagan testified before the US Senate on climate change. He noted, “If you don’t worry about it now, it is too
The Right Way to Intervene in Clean Tech
Energy markets have clearly failed to accelerate the deployment of renewables. But as the pendulum swings in the direction of state intervention,
Protecting the World’s Forests Means Protecting Indigenous Rights
Indigenous peoples have proven to be the best protectors of our world’s natural resources. But their lands and traditional ways of life
America’s Higher-Education Financing Challenge
The Biden administration’s plan to expand income-driven repayment options for student loans is a step in the right direction. But to
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
What to Do About Radical Uncertainty
A longstanding belief in the predictability of market behavior and outcomes has created plenty of fodder for academic theorizing in economics.
Why Is America Undercutting Japan?
At a time when the United States is asking its allies to help it counter China, its wasteful, inefficient industrial policies are making it
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.
Winning the Fight for Women’s Land Rights
Gender inequality has prevented female agricultural workers in numerous countries from owning and inheriting the land that they cultivate.
The Long Reach of China’s Demographic Destiny
Although China is on the verge of escaping the dreaded “middle-income trap,” it is aging fast and facing significant economic
Focus on Productivity, Not Technology
Scientific and technological innovation may be necessary for the productivity growth that enriches societies, but it is not sufficient. Without
India and the Global Balance of Power
Great power politics now include India. But will India tip the balance?
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
Has Putin Lost Russia?
Vladimir Putin’s greatest nightmare has come true, with Russia having been brought to the brink of civil war. Even if a massacre of the
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