Resetting US-China economic relations
The year 1979 was a pivotal one in Sino-American relations. On a historic visit to the United States, Deng Xiaoping, China’s paramount leader, met with President Jimmy Carter at the White House and...
Developing countries’ never-ending debt crisis
The debt crisis in low-income countries continues to fester. Meanwhile, the international policy community seems to be losing traction on the problem. Can it recover its grip, or has a...
Certain Uncertainty in the US Bond Market
The last two years have been catastrophic for investors in US Treasury bonds. By one measure, 2022 was the worst year for such investors since 1788. Bond prices are poised to fall again in 2023,...
How global currencies end
Is the dollar poised to lose its dominance of global economic and financial transactions? Many commentators apparently think so.Russia obviously hopes they are right, given that it has been shut out...
Putting America’s debt in its place
The ruckus in the United States over the federal debt ceiling has redirected attention toward soaring public borrowing. Against the backdrop of monetary tightening by the Federal Reserve, piling up...
Boris Johnson leaves behind a sterling mess
British Prime Minister Boris Johnson’s chaotic government, and its equally chaotic collapse, are not the only source of panic in the United Kingdom nowadays. There is growing anxiety about the...
America’s not-so-great inflation
It has become abundantly clear that the United States has an inflation problem. What is not yet clear is how big the problem will turn out to be and how long it will last.Alarmed observers point to...
Greening Europe's fiscal rules
The European Union is about to undergo a much-needed review of its fiscal status quo.Experts at the European Commission are considering how the EU’s fiscal rulebook should be revised, and...
Where America's fiscal debate goes off the rails
The US Congress has just taken an important step toward implementing President Joe Biden’s fiscal plans, by passing a signature $1 trillion infrastructure bill. Now we will see whether the...