As fears rise over currency clashes, policy makers must confront the challenges of a two-speed global economy where China and other emerging markets are surging ahead while Europe, the United States, and Japan face a number of serious economic concerns. […]
Policy makers around the world who are pushing China to revalue its exchange rate should note that an appreciation of the renminbi—unless accompanied by an acceleration of China’s domestic demand—will be of little benefit to most economies. […]
An examination of past episodes of currency tension suggests that competitive devaluations are not likely today. But the forces behind past collapses remain highly relevant and policy makers cannot afford to be complacent. […]
Overcoming the debt crisis that has stricken Europe and restoring long-term growth prospects for the continent will require European countries to enact major coordinated action and far-reaching structural reforms. […]
The revival of the European debt crisis will force EU leaders to choose between entering into a deeper fiscal and economic union or confronting sovereign defaults and the possible break-up of the euro area. […]
Policy makers should heed the lessons of the Great Recession and enact the structural and regulatory reforms needed to protect the world against the next crisis. […]
Despite the grim economic outlook for California, America’s Golden State holds lessons for how Europe can survive its own debt crisis and make the continent more resilient to future shocks. […]
Despite headlines proclaiming otherwise, the G20 summit made substantial progress on several issues, including financial and IMF governance reforms and the rejection of current account and currency targets. […]
The enormous expansion of credit in Ireland and the sheer size of its building boom, which was accompanied by a very large loss of competitiveness, are at the center of the country’s crisis today.
[…]
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. […]
Copyright © 2024 | Economic Policy International
