How the U.S. Will Pay for the Euro Crisis
The euro crisis has grown too big for Europeans to handle alone. The United States must act to help save the euro—or risk paying a much bigger price if it collapses. […]
Emerging Economies
Don’t Be Afraid of the Service Sector
The ability of the service sector to generate growth is widely underestimated. So long as country avoid taking protective measures and harness their competitive advantages, countries should welcome larger service sectors. […]
Will Economic Disruption Derail the Arab Spring?
The Arab Spring has toppled three governments and galvanized change across the Middle East. But fiscal, external and labor market imbalances are widening, and both new and old governments are under pressure to deliver simultaneously on political, economic, and social fronts. […]
The Canned Summit
Although Cannes provided the United States and the broader G20 with an opportunity to rescue Europe from its current economic turmoil, the G20 did not make the tough decisions necessary to end the Eurozone crisis. […]
G20 Must Help Manage Eurozone Crisis
An economic crisis comparable in size and virulence to the Lehman Brothers episode could erupt if Italy and Spain lose their ability to borrow. The G20 must act now to stabilize the eurozone. […]
The Rise of Emerging Markets Requires a New WTO
World trade is expanding rapidly, helping forge modern industrial sectors in emerging economies. Managing this evolving global trading system requires new leadership from the World Trade Organization. […]
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. […]
Averting Another Global Recession
Financial market turmoil and U.S. debt woes threaten to undermine the global recovery, but the biggest danger to the world economy comes from Europe and its worsening debt crisis. […]
Renminbi Revaluation: Will Other Asian Currencies Follow?
An appreciation of the renminbi is not the catch-all solution some claim it to be. If China were to revalue its currency, a widespread appreciation of Asian currencies would not follow, nor would the U.S. current account deficit benefit. […]
Egypt in Transition: The Current Economic Situation and the Role of International Assistance
To gain the popular legitimacy needed for a sustained political transition, Egypt’s government will need to show progress on the economic front. What happens in Egypt is pivotal in determining the course of the rest of the region. […]