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. […]
Leaders in Germany and other eurozone countries are starting to recognize that dealing with the euro’s problems requires not just austerity and structural reforms in the periphery but also a much closer fiscal union. […]
Though the global recovery is weakening, the world economy is not likely to head back into recession unless the sovereign debt crisis in Italy and Spain intensifies. […]
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. […]
As emerging markets come to dominate the global economy, no challenge will be more difficult—and few will be more important—than managing the global commons. […]
The international monetary system helped countries liberalize trade and limited protectionism during the Great Recession. But countries with pegged exchange rates remain a threat to trade, especially if the peg is undervalued. […]
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. […]
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. […]
In the years to come, the rise of emerging economies will reshape the global economic landscape. This monumental shift will enhance prosperity but also create great tensions that could stop progress in its tracks. […]
The forces that kept protectionism at bay during the financial crisis—chief among them, national laws, regional agreements, and structural economic shifts—should be the focus of future trade negotiations. […]
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