Friday, February 12, 2016
  1. Economics

    The Negative Rates Club

    Daniel Gros
    Economics

    The Negative Rates Club

    28

     explains why expansionary monetary policy has only a limited impact in Japan and the eurozone.

    Euro coins

    After years of quantitative easing and negative interest rates, it is becoming clear that these policies work as expected only in debtor economies, but have little effect in creditor economies. The reason is simple: creditors lose when rates go negative, and debtors gain. READ MORE

  2. World Affairs

    Boundless Crises, Reckless Spoilers, and Helpless Guardians

    Wolfgang Ischinger
    World Affairs

    Boundless Crises, Reckless Spoilers, and Helpless Guardians

    7

     outlines the challenges facing world leaders and the international order over the coming year.

    Army vehicle isolated in the desert.

    The world is entering a period of growing risk, rising uncertainty, and fundamental transformation – the beginning of a less stable international era. Responsible leaders must work together to reconstruct the international order, strengthen institutional arrangements, and stem spreading chaos. READ MORE

  3. Economics

    Overhauling China

    Keyu Jin
    Economics

    Overhauling China

    6

     argues that the economy will be unable to recapture its dynamism without political reform.

    Buddha figures on wall

    Pessimism about China has become pervasive in recent months, with fear of a “China meltdown” sending shock waves through stock markets worldwide since the beginning of the year. But with the right mix of reforms – including political reforms – China can continue its march toward high-income status. READ MORE

  4. Culture & Society

    Putin, the Pope, and the Patriarch

    Nina L. Khrushcheva
    Culture & Society

    Putin, the Pope, and the Patriarch

    0

     explains why the Kremlin wants to help mend Christianity's Great Schism.

    Vladimir Putin and Pope Francis Alexei Nikolsky/Planet Pix via ZUMA Wire

    The historic meeting between Pope Francis and Russian Orthodox Patriarch Kirill in Cuba will not only be an opportunity to heal one of the oldest divisions in Christianity. For Russian President Vladimir Putin, it will be an occasion to project his country's influence at a time when it is being battered by oil prices and sanctions. READ MORE

  5. Business & Finance

    The Submerging-Market Threat

    Anders Åslund
    Business & Finance

    The Submerging-Market Threat

    8

     believes that the fall of the emerging economies could have a more lasting impact than their rise.

    Buildings reflected in water

    The slump in emerging markets was predictable; the booms that led to their rise were not accompanied by the structural reforms needed to sustain growth when commodity prices fell. Faced with years or even decades of anemic global growth, Western leaders must start thinking about managing the destabilizing effects of stagnation. READ MORE

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