Can Draghi Turn the EU Ship Around in Time?
What a roller coaster ride Europe has embarked upon. A week ago Mario Draghi, the president of the European Central Bank, made his now-famous “whatever it takes” remark in defense of the euro, and the markets bounded upward. Since then…
Spain Cuts a Deal: How Short is the Leash?
LONDON—As recently as last Friday Spanish officials, including Finance Minister Luis de Guindos, were offering investors and the markets sanguine reassurance that, no, there would be no need for a European rescue plan for Spain’s ailing banks. Spain could handle…
The War in Europe Escalates—No Guns, Just Butter
It took exactly two days for European markets to cast a negative vote on the agreement eurozone countries reached in Brussels last week. It took a couple more for the eurozone countries to begin bickering with Britain, that is isolated…
3 Reasons to Bet the Euro Deal Will Work
Global stock markets today are reflecting the many uncertainties that still surround the eurozone rescue package European Union leaders announced in Brussels late last week. It is not yet clear how some of the EU’s plans will be financed, and…
Why America Isn’t Headed for a ‘Lost Decade’
You have a country with a banking crisis that spreads to the financial markets. Then a puffy bubble in the real estate market pops. After that, there’s a persistent overhang of private-sector debt, and everyone starts deleveraging. This last renders…
America’s Dangerously Out-of-Date View of China
America’s sluggish insistence that China remains a security threat as opposed to a powerful economic reality is leading to lost opportunities. Not quite four decades after Nixon visited Mao, the U.S. is still reluctant to see an emergent China for…
Maybe We’re Not So Dependent on China
Central bankers are always secretive about what they do with their reserves, and China’s are no different. They’ve been hinting for years that they were tired of the risks associated with having too much of their hard-earned cash sitting in…
Made in America: Manufacturing Jobs Are Coming Home
The tale of American manufacturing has long been one of woeful decline. Just about a year ago, China replaced the U.S. as the world’s No. 1 maker of things, and that seemed a sure sign that the glory days had…
Following the Fallout from Fukushima
What the hell was anybody doing building six nuclear power plants in an earthquake-prone zone?” Senator John Kerry asked during a speech the other day at the Commonwealth Club of California. “I don’t get it. It’s hubris, if not stupidity.”…
The Next China: A Powerful Consumer Society
It looks like China finally is about to take a great leap forward. Beijing at last recognizes that an overheating economy is threatening to spin out of control and that it has a serious inflation fight on its hands. And…
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