Why China Needs a Global Conscience
The transformation of China into an economic powerhouse will fundamentally alter Beijing’s relationship with the global economy and require far-reaching changes in the global institutional architecture. […]
Op-Ed
American and European Responses to the Arab Spring: What’s the Big Idea?
Given the economic problems facing both sides of the Atlantic, Europe and the United States can best support democratic transitions in Arab countries through enhanced trade agreements that improve market access and maximize job-promoting reforms. […]
Too Big to Save?
A failure by Italy to finance its debt could cause a massive banking crisis that could spell the end of the euro, but Italy’s problems are too severe to be remedied by any simple solutions. […]
The United States Can be Bolder in Repairing its Finances
Because the U.S. economy is both competitive and flexible, policy makers in the United States can afford to be bold in tackling the country’s large fiscal problem. […]
Global Aftershocks of a U.S. Debt Default
While a temporary default is not likely to fundamentally alter the global economic dynamic, the U.S. budget imbalance and uncertainties over whether Washington will address that imbalance are major contributors to international tensions. […]
America’s ‘Safe Haven’ Status Cannot Shelter It Indefinitely
If the debt ceiling debate can help Americans begin to confront the country’s fiscal anomalies—beginning with its huge healthcare costs, relatively low taxes, and defense budget—it is to be warmly welcomed. […]
The Rise of Emerging Markets Requires a New WTO
The ascendance of emerging economies has altered the fundamentals of international trade, creating an urgent need for the World Trade Organization to play a more proactive and substantive role in this new world. […]
Growing Economies, Rising Problems
The fast rise of emerging economies brings an enormous opportunity to increase global prosperity, but also could generate dangerous conflicts. Global leaders must develop the means to mediate them. […]
The Poor Will Inherit the Earth
In the coming decades, the unprecedented emergence of the world’s poor countries as the largest global economies will both extend the frontier of prosperity and create massive tensions and unpredictable risks. […]
The Growing Risks of Our Four-Speed World
With inflation rising in the developing world, advanced countries are bearing the brunt of the post-crisis adjustment—including reestablishing fiscal sanity—with little help from the vibrant emerging economies upon which the world have come to rely. […]