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China’s labor-intensive production will increasingly move to countries with lower labor costs – including Bangladesh, India, Indonesia, and neighboring Vietnam, as well as various African countries.

Deadlock in Durban

[2011-12-01]

The sheer weight of the US in international affairs has nonetheless led to a corruption of the principles that should underpin a new climate-change treaty to succeed the Kyoto Protocol.

The long history of global anchor currencies suggests that the dollar’s days on top may be far from over.

With the US, and now Europe, facing long roads to recovery, Asia’s emerging economies can no longer afford to count on solid growth in external demand from the advanced countries to sustain economic development.

The Italian Exodus

[2011-11-30]

Italy’s number-one problem is not, and never was, Berlusconi; it is the country’s entrenched gerontocracy, nepotism, and anti-meritocratic behavior.

A key question is whether incoming Greek Prime Minister Lucas Papademos and his new Italian counterpart, Mario Monti, both highly regarded economists, have the leadership skills to navigate these treacherous waters.

Greece and Italy have both chosen technocratic economists – Lucas Papademos and Mario Monti. It is not a lack of political ability which will stymie them, but rather a lack of political power.

Jobs for Justice

[2011-11-29]

Inequality almost everywhere, including China, has become so extreme that it must be reduced. Protesters, experts, and center-left politicians agree on this – and on little else.

The eurozone could learn from the experience of South Korea, which came through its crisis more quickly than anyone expected, combining sensible reforms with a rapid recovery.

The integration of developing countries into the world economy has become a threat as developing countries are hit by the knock-on effects of the rich world's troubles.

The world’s economies, rich and poor alike, have much to gain from accelerated innovation in the information age.

While this high-tech approach - a more personalized strategy - could be a boon to patients, it could prove detrimental to drug companies' bottom lines.

Yet it is likely that one day we will know much more about how economies work – or fail to work – by understanding better the physical structures that underlie brain functioning.

In the long run, the eurozone must be recognized as a failed experiment. It should be reconstituted with far fewer members, including only countries that do not run persistent current-account deficits.

As rich countries tighten their aid budgets and developing countries become more vulnerable to the effects of the ongoing crisis, the question is not whether aid works, but how it can work better.

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