Should it have been allowed to rescue the insurance giant AIG so expensively, without approval by the US Congress? How is it that the Fed’s balance sheet can expand so dramatically, potentially committing large sums of taxpayer dollars, without Congress having a purchase on its decisions, except well after the event?

Withering exports and asset bubbles have forced Asians – especially China and Japan -- to work harder at free trade pacts.

Emerging markets are still the economies to watch now that the Asian Tigers have joined the boring, developed nations club.

Since a quick stimulus exit and credit clampdown appear unlikely, China's policymakers should consider backing off gradually.

Money supply growth has sparked an asset market boom that supports the economy, not the other way around. Don't get burned.

Fluctuating currency values can make or break foreign exchange traders. On a far wider scale, they affect global economic balance.

Examining the recovery paths of major industrial powers in the 1930s tells us that thoughts of reversion to normal policies -- whether monetary, exchange rate, fiscal or banking -- need to be delayed until global recovery to normal is nearly completed.

Can interest rate adjustments, currency devaluation and zigzag policymaking help unwind economic stimuli? It depends.

A currency with global reserve status can benefit the issuing country. But disadvantages and market decisions cannot be ignored.

Despite market chatter and China's rise, necessary preconditions for an asset bubble in the emerging world haven't surfaced yet.

The financial crisis taught crucial lessons about the dangers of bubbles, loose regulation and debt. It's a pity we didn't learn.

The success of the euro as a multinational currency did not come overnight. And nothing similar is likely to emerge in East Asia.

Japan hasn't sustained growth bounces for decades, nor will it under the DPJ government. Therein lie lessons for other economies.

Japanese foreign reserves and banking clout could not offset volatility's negative impact on the yen's bid for reserve status.

It was silly months ago to compare the global downturn to the 1930s depression. The recession has already turned the corner.

A growing liquidity bubble that ignores structural facts is the basis for today's happy talk about a comeback for the global economy.

China's exporters have suffered in the global downturn, but they've clung to import market share in major economies.

Conditions must be met to qualify a currency for international reserves. The same holds true for an international financial center.

Recession-related U.S. GDP and unemployment rates were somewhat predictable before the latest downturn changed the game.

So many factors are influencing stock market behavior this year that predictions, like the economy itself, are in a state of flux.