Why It’s Time for the Fed to Green Light a Strong Stimulus
Even if a central banker is all you ever wanted to be, you’d have to think twice as you head for the Federal Reserve’s annual symposium in Wyoming later this week. After seven years of quantitative easing and inflation targeting,…
The Biggest Cause of the Next Recession? Wary Consumers
The big question at the International Monetary Fund’s annual gabfest last week was why global economic growth is chronically slow and what can be done to shift into a higher gear. I.M.F. and World Bank economists have many ways to…
Why China’s Slowdown Will Lead to Sustainable Growth
In less than a week China’s modest, by-the-book devaluation of its currency appears to have escalated into a full-scale political crisis, complete with reports of a Mao-style purge of top leaders and tanks in Tiananmen Square. Suddenly, the world’s highest-flying…
As Europe Slowly Recovers, the US Heads off the Cliff
What at a year for the European Union. Europe has now fought its way through the worst of its fiscal crisis, and the year ahead will end up being more about recovery than austerity. It may seem strange to hoist…
How Long Will China’s Slowdown Hurt U.S. Markets?
China’s economy, after prolonged signs of weakness, now appears to be stabilizing. Good news? That is not clear, because it is stabilizing at a lower rate of growth. The great, big boom years—14.2 percent growth at their rosiest, in 2007—may…
China, Dying for Growth, Is Paying a High Price
You may have read about the bridge that collapsed in northern China this past weekend. It was all of nine months old. Four trucks went down with the 330-foot span that gave way: three deaths and five injuries. Poor design,…
Three Global Hotspots that Can Damage the Recovery
Wories to the west of us, worries to the east. It is hardly the kind of August to encourage us to head for the beach and try to get through Proust for the 16th time. There are signs we are…
What a Socialist France Would Mean for America
Should the U.S. be (a) frightened, (b) neutral or (c) exuberant that a very moderate Socialist looks set to win the presidency in France when the second round of voting takes place May 6? If Francoise Hollande wins, Americans should…
6 Ways to Avoid an Economic Implosion in China
“What if China Fails?” This was the headline on an essay in the Wilson Quarterly in August 2010. It is now 2012, and we are still seeing strong economic growth, although Beijing just slashed the target to 7.5 percent–an 8-year…
Asian Unrest: An Ominous Sign for the Global Economy
The specter of social unrest is haunting the high-growth economies of Asia. In one nation after another, rising expectations are being dashed as economic conditions deteriorate. In effect, Asia’s nascent middle class is getting its first taste of middle-class insecurity…
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