The Myths About China’s Currency
The debate over China’s currency propagates dangerous myths about both the Chinese economy and the potential benefits of a more expensive renminbi for the United States. […]
United States
The RMB: Myths and Tougher-to-Deal-With Realities
The dispute between the United States and China over the value of China’s renminbi distracts both countries from more important reforms. Policy makers should prioritize maintaining a collaborative relationship over staging another fruitless debate. […]
Can the United States Double Exports in Five Years?
Exports have become an important contributor to U.S. growth in recent years and will be crucial to the recovery. President Obama’s recently announced target of doubling exports in five years, however, appears overly ambitious. […]
Is a Sovereign Debt Crisis Looming?
Skyrocketing government debt is emerging as a new risk to the global recovery, prompting calls for stimulus withdrawal. Sustaining growth, however, should remain policy makers’ top priority. […]
Why No U.S. President will Bomb Iran
The Obama administration’s deadline for Iran to enter discussions on the nuclear issue has passed. In spite of claims from Washington that “all options are on the table,” the economic crisis makes a military response to Iran infeasible. […]
Doll(ar)-Drums?
While China’s role in global trade is continuing to grow, the dollar, not the yuan or the euro, will remain the world’s leading reserve currency for the foreseeable future. […]
Migrants and the Global Financial Crisis
Migrants are economic assets for both their host and home countries, but they are disproportionately affected by the global financial crisis. Temporary migration programs and collaboration with migrant-sending countries can help maximize the economic benefits of migration, even in times of crisis. […]
Bilateral U.S.-China Imbalances Not the Issue
The recent emphasis on the trade imbalance between the United States and China—which was high on President Obama’s agenda in Asia this week—is largely misplaced and diverts attention from more pressing domestic problems. […]
Supporting the IMF is in the U.S. Interest
Following through on promises made at the G20 meeting in London to help triple IMF resources will not only help hasten economic recovery, but also bolster U.S. leadership in a world economy on which it is increasingly reliant. […]
The World in Recession
The global economy is on a knife-edge, teetering between a vicious and a virtuous cycle. Policies in response to the crisis will determine whether the global economy emerges in a high or low equilibrium. […]