Achieving sustainable fiscal policies in the United States is likely to prove more important for the promotion of sustained growth, both domestically and globally, than anything that could be done by China or Germany. […]
Given the real danger of a currency war, countries should refocus on the impediments to sustainably increasing their domestic demand and give the recovery more time to take hold. […]
When rethinking the institutional arrangements that underpin their monetary union, Europeans should take note of the California’s experience during the Great Recession. […]
Faster growth in the G20 must come through increased demand in advanced nations—beginning with the United States and Germany—rather than agreements about currency appreciations or current account targets. […]
Threats of a currency war hang in the air, but few countries have actually seen their exchange rate appreciate significantly. Major world economies should refocus on domestic policies before the rhetoric turns into reality. […]
European policy makers need to respond to the Great Recession and subsequent debt crisis with far-reaching structural reforms in order to ensure that today’s downturn does not devolve into long-term slow growth and deflationary trends. […]
Economic growth in Africa over the last ten years has been at its strongest in decades, but continued reform efforts—especially those affecting governance and the business climate—are needed to ensure that this renaissance continues. […]
U.S. unemployment is expected to decline slowly in the coming years. Though a gradual adjustment is not unique to the current recession, policy makers must promote growth and address structural mismatches to help the 14.9 million unemployed workers. […]
The relative calm in Europe signals a pause in—not an end to—the debt crisis. Though policy makers have taken encouraging initial steps to close budget deficits and restore competitiveness, much more remains to be done. […]
Deficit countries are neglecting the needed—and more difficult—reforms at home and fueling protectionist sentiment abroad with their focus on external trade imbalances and their calls for major surplus economies to increase demand. […]
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