What Should Be Done About the Great Trade Slowdown?
Policymakers must continue to guard against protectionism, and also deepen their country’s connections to the world through better transport, communications, and Internet links. […]
Economy
Oil Price Trends and Global Implications
The sharp drop in oil prices is one of the most important global economic developments over the past year. While oil’s long term price outlook remains highly uncertain, a substantial part of its decline is expected to persist into the medium term […]
Greece, Complacency, and the Euro
The euro may not be doomed, but those who want to believe that the crisis is over cannot afford to be foolishly complacent, either. […]
Economic Integration in the Time of Turmoil
Economic integration is crucial in order to achieve rapid and sustainable growth. However, instabilities in the Middle East and North Africa and the recent plunge in oil prices may stifle economic progress. […]
How Should We Respond to Lower Oil Prices?
The politics of raising fuel taxes and simultaneously giving American households an income tax break may be impractical, but the economic logic of doing so remains compelling. […]
Will China Derail the Global Recovery?
The short-term China risk must be watched,but the likelihood of a major economic crisis in China spilling over onto the rest of the world and derailing the global recovery is low. […]
Deindustrialisation and Development
While manufacturing played a key role in some countries’ development, high growth can be sustained without relying primarily on manufacturing. […]
That Absurd Fear of Stagnation
Seven years after the outbreak of the financial crisis, bad policies, deficient institutional arrangements, and the mistakes of the past are still tying some of the world’s largest economies down. […]
Is Manufacturing Still a Key to Growth?
Manufacturing is declining as a share of GDP not only in advanced countries, but in developing countries as well. This new trend, a result of complex forces, should be seen on balance as a reason for development-optimism, not pessimism. […]
The Global Economy and China: The View From a Mountain Top
China’s very high rates of saving and investment in infrastructure, plants and equipment, research and development, and human capital should be seen more as a source of strength than of weakness. […]