The strengthening US dollar and rising borrowing costs have left developing and emerging-market countries between a rock and a hard place.
The Case for Structural Financial Deglobalization
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Crime and US Mid-Term Elections
Crime, not the economy, may be the critical swing factor in the upcoming mid-term elections.
The Implementation COP
Many are calling the upcoming UN climate change conference in Egypt “Africa’s COP.” But Africans prefer to see it instead as “the
A New Chance for the World Bank
The World Bank should be a major vehicle for crisis response, post-conflict reconstruction, and, most importantly, for supporting the huge
The Stagflationary Debt Crisis Is Here
The Great Moderation has given way to the Great Stagflation, which will be characterized by instability and a confluence of slow-motion negative
No Security Without Climate Security
Climate change poses an existential threat to humanity, but the US defense apparatus has not treated it accordingly, because it does not fit
Transforming the Economics and Governance of Water
Water-related crises around the world have shown that current systems of governance and economic organization are unsuited for a world altered
Whither the ESG Revolution?
Many companies are promising to align their objectives – including how they measure their performance – with broader imperatives relating
Will Russia or the West Win the Economic and Financial Battle?
After six months of unprecedented Western sanctions, Russia’s economic situation, though bad, is arguably better than most observers expected.
The Real Stakes at Jackson Hole this Year
Fighting inflation should not distract policymakers from the need to repair a broken global trading system.
Xi Jinping’s Guns of August
Faced with a crippling pandemic and a spluttering economy, it is no surprise the President Xi is shoring up support via nationalism and claims
Rate Hikes Are Not the Right Answer to “Wage-Price Persistence”
Inflation is not primarily demand-driven, so why destroy demand to deliver lower inflation?
The ECB’s Political Overreach
The ECB risks exceeding its mandate, with potentially grave consequences.
As the World Burns
Even before Russian President Vladimir Putin launched his war against Ukraine and set off a global scramble for fossil fuels, the battle against
Is the US in Recession?
Do not be surprised if, later this month, there is a wave of headlines claiming that the US economy is in recession. But such an assessment
Boris Johnson Leaves Behind a Sterling Mess
Investors appear to view the British pound more like the currency of a troubled emerging market than of a stable advanced economy. And now,
All That Is Solid Melts into Inflation
Policymakers in Western industrialized countries would do well to remember that periods of high inflation historically have led to much bigger
Is Crypto in Terminal Decline?
Opinion is divided as to whether the current massive downturn in private digital currencies and related services represents a necessary and
A Bond Phoenix Rises from the Ashes
Bonds are out of favor. But perhaps not for long.
Inflation as a Political Power Play Gone Wrong
A half-century long strategy, led by corporations, Wall Street, governments, and central banks, is coming undone. As a result, the West’s
Why the US Federal Reserve’s Options Are Limited
The US Federal Reserve’s Federal Open Market Committee ought to announce a rate increase that is large enough to bring its policy rate
Economic Consequences of a Ukraine Peace
The demand that Russia pay reparations for its unprovoked war in Ukraine is morally compelling. But Russia would be less likely to reconcile
Don’t Bet on a Soft Landing
With “Team Persistent” having clearly prevailed over “Team Transitory” in the debate over the nature of today’s surging inflation,
The Case for Nordic and NATO Realism
To be a realist in international relations is to accept that some states are more sovereign than others. “Strict realism” now requires