- The Renminbi’s Journey to the World
While internationalization of the RMB is necessary (and inevitable), it should be guided by market principles and pursued in a cautious manner.
- Asia's Threesome Turns Four
Though the history of the trilateral dialogue between China, Japan, and South Korea is short, it marks a new and constructive effort toward regional cooperation.
- Economy, Insure Thyself
The theoretical ideal occurs when financial contracts spread the risks all over the world, so that billions of willing investors each own a tiny share, and no one is over-exposed.
- Pakistan’s Road to China
But the US and Britain find it difficult to move quickly, and strong voices in their capitals want Pakistan to be punished, not helped, for its wayward ways. In the meantime, China waits with open arms.
- Life without Doha
If the Doha Round fails, trade liberalization would shift from the WTO to preferential trade agreements (PTAs), which are already spreading like an epidemic.
- Who Should Lead the IMF?
Personally, I would urge emerging-market countries to support Shanmugaratnam. But it is far more likely that they will remain divided.
- A World of Regions
Ironically, today’s decline in American global power may lead to more effective regional cooperation.
- BRIC Nations Slam Europe's Dominance over IMF Top Job
Brazil, Russia, India, China and South Africa, known as the BRICs, called for “a truly transparent, merit-based and competitive process” for the selection of next IMF chief, in a rare statement acting as a whole dated Tuesday.
- Free-Market Babies?
France has a problem with reproductive tourism. Even so, the draft bill continues to prohibit payment for eggs.
- Voters vs. the Welfare State
Only time will tell if the recent elections in the UK, the US, and Canada signal a retreat from the growth of the welfare state or just a temporary respite.
- Capital Controls or Protectionism
Both pieces of advice -tightening in emerging markets and continued monetary accommodation in the advanced economies-could breed protectionism if not accompanied by effective capital controls.