Reform of the international monetary system tops France’s agenda as chair of the G20 but a review of the system during the crisis suggests no major overhaul is needed. Instead, major economies must change their domestic policies to ensure that the system functions smoothly. […]
The unrest spreading throughout the Arab world will have significant economic implications for the region.
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If asset prices and currency values overshoot and inflation surges, there is a risk that emerging markets will be hit with another potentially devastating financial crisis. […]
The increased use of intermediate inputs in world trade distorts bilateral trade balances, reduces the importance of exports as drivers of demand, and hides the true cost of protectionism. […]
Despite the recent optimism in Europe, evidence that countries are dealing adequately with the underlying causes of the euro crisis remains scarce. For the European rescue to succeed, leaders must focus on structural problems, not just fiscal ones. […]
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