While the Biden administration’s economic agenda represents a welcome departure from past Democratic presidencies, its latest actions against
Washington’s New Narrative for the Global Economy
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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,
Xi of Arabia
After decades of heeding Deng Xiaoping’s advice to “hide its strength, bide its time, never take the lead,” China has apparently decided
Why Ukraine Matters
Although Florida Governor Ron DeSantis has walked back recent remarks claiming that America has no important stake in the outcome of Russia’s
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
Putin and Trump in the Dock?
The recent indictments of Russian President Vladimir Putin and former US President Donald Trump highlight the law’s growing, and potentially
Crises of Uncertainty
National governments’ responses to the latest banking crisis confirm once again that some countries play by different rules than others.
How China Benefits from Another US Banking Crisis
Today, we are witnessing a potentially lethal interplay between two sources of tension: a financial crisis, reflected in the failure of Silicon
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
Revisiting America’s War of Choice in Iraq
Wars are fought not only on the battlefield but also in domestic political debates and in histories written after the fact. In the case of
Who Is to Blame for the New Banking Crisis?
In 2018, US lawmakers loosened banking regulations on the spurious grounds that smaller banks do not pose systemic risks to the stability
Will Geopolitics or Technology Reshape the Global Monetary Order?
China was supposed to be the main beneficiary of a shift away from the dollar by countries fearing its “weaponization” by US authorities.
The Inflation Picture Gets Murkier
Despite signs that inflation in most major economies has peaked and is trending back down, recent data releases have renewed fears that central
What Europe’s Economy Needs Now
The US Inflation Reduction Act should be seen as a wake-up call for Europe. As the European Investment Bank Group holds its first-ever EIB
A Good Year for China’s Economy
Following the government’s abandonment of its zero-COVID policy in December – and especially since the middle of last month – the economy
The Crusade to Ban ESG Makes No Sense
Efforts to prohibit financial institutions from considering environmental, social, and governance criteria reflect a fundamental misunderstanding
China Is Dying Out
Chinese policymakers must somehow implement policies to reduce the cost of raising children without crashing the economy. But even if they
Why the War Will Continue
The map of Ukraine a year from now will most likely resemble nothing so much as the map as it appears today. The year ahead promises to be