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. […]
Western Europe
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. […]
Power Implications of the 21st Century Economy
Within a generation, developing countries will likely account for six of the world’s seven largest economies and dominate world trade. How will this affect international relations and governance in the context of globalization? […]
Juggernaut: How Emerging Markets Are Reshaping Globalization
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. […]
Portugal’s Bail-Out Follows Europe’s Not So Grand Bargain
While markets seem calm for now, the failure of the EU’s recent summit, combined with Portugal’s recent request for aid and other political setbacks, leaves the euro area vulnerable to a relapse of crisis. […]
A Tale of Two Polities: UK and U.S. Fiscal Policy
For primarily political reasons, the fiscal policies of the United States and the United Kingdom diverged dramatically in 2010, as British leaders introduced a harsh austerity program while U.S. policy makers agreed to extend tax cuts. […]
Is the Euro Rescue Succeeding?
Despite the recent optimism in Europe, evidence that countries are dealing adequately with the underlying causes of the euro crisis remains scarce. For the European rescue to succeed, leaders must focus on structural problems, not just fiscal ones. […]
2011 Global Economic Outlook: The Euro Crisis, Currency Tensions, and Recovery
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. […]
Currency Tensions: Four Lessons From History
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. […]
At Pains to Grow
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. […]