Commentary archive

  • Portrait of Richard Cooper

    China’s E-Tail Revolution

    SHANGHAI – When you think about centers of technological innovation, Silicon Valley, Seattle, and Seoul are probably the first places that c…

  • Portrait of Chris Clearfield

    A Hacker’s Market?

    NEW YORK – Never in the history of written communication could 140 characters have the impact that they can have now. Two weeks ago, after g…

  • Portrait of Zhang Monan

    Controlling China’s Currency

    BEIJING – It is indisputable that China is over-issuing currency. But the reasons behind China’s massive liquidity growth – and the most eff…

  • Portrait of Joaquín Almunia

    The Competition Factor

    BRUSSELS/MEXICO CITY – Since the global economic downturn began in 2008, debate has centered on the macroeconomic strategies and instruments…

  • Portrait of Kaushik Basu

    Two Policy Prescriptions for the Global Crisis

    WASHINGTON, DC – One thing that experts know, and that non-experts do not, is that they know less than non-experts think they do. This much …

  • Portrait of Mario I. Blejer

    Central Banks’ Outdated Independence

    BUENOS AIRES – The global financial crisis has raised fundamental questions regarding central banks’ mandates. Over the past few decades, mo…

  • Portrait of Martin N. Baily

    Financial Globalization in Reverse?

    WASHINGTON, DC – For three decades, financial globalization had seemed inevitable. New information technologies made it possible to conduct …

  • Portrait of George Soros

    Germany’s Choice

    FRANKFURT – The euro crisis has already transformed the European Union from a voluntary association of equal states into a creditor-debtor r…

  • Portrait of Lee Jong-Wha

    Abenomics and Asia

    SEOUL – Japanese Prime Minister Shinzo Abe’s economic agenda – dubbed “Abenomics” – seems to be working for his country. Expansionary moneta…

  • Portrait of Yannos Papantoniou

    Europe’s Perpetual Crisis

    ATHENS – The Cyprus bailout deal is a watershed in the unfolding eurozone crisis, because responsibility for resolving banks’ problems has b…

  • Portrait of Ashoka Mody

    Rolling the Dice in Cyprus

    PRINCETON – The task was never going to be an easy one: impose losses worth about €5.8 billion ($7.5 billion) on lenders to the Cypriot gove…

  • Portrait of Peter Sutherland

    Migration Is Development

    LONDON – In September 2000, the United Nations Millennium Development Goals rallied the international community behind a shared vision. The …

  • Portrait of Dambisa Moyo

    Commodities on the Rise

    SEOUL – The commodity super-cycle – in which commodity prices reach ever-higher highs, and fall only to higher lows – is not over. Despite t…

  • Portrait of Yannos Papantoniou

    A Global "New Deal"?

    ATHENS – The International Monetary Fund’s belated admission that it significantly underestimated the damage that austerity would do to Euro…

  • Portrait of Robin Niblett

    Transatlantic Trade-Offs

    LONDON – Almost two decades after the idea was first mooted, the United States and the European Union agreed last week to begin negotiating …

  • Portrait of Wonsik Choi

    Renewing the South Korean Miracle

    SEOUL – South Korea’s incoming president, Park Geun-hye, takes over a country that has been a global role model for economic development. Bu…

  • Portrait of Michael Pettis

    The Saver’s Dilemma

    BEIJING – Most of the international financial crises that have occurred over the last 200 years were the result of strains created by the re…

  • Portrait of Paola Subacchi

    An Economic Agenda for Italy

    MILAN – At the end of this month, Italian voters will choose their next government, from which they expect jobs and a more level economic pl…

  • Portrait of Sanjeev Sanyal

    Bretton Woods III

    SINGAPORE – Many analysts and observers believe that the global imbalances that characterized the world economy in the years before the 2008…

  • Portrait of Taeho Bark

    The Two Rabbits of International Trade

    SEOUL – If you chase two rabbits at once, the old saying goes, both will escape. And yet this is precisely what many governments are require…

  • Portrait of Robert J. Barro

    Lessons from the Fiscal Cliff

    CAMBRIDGE – One of the many things I learned from Milton Friedman is that the true cost of government is its spending, not its taxes. To put…

  • Portrait of William Janeway

    Growth Out of Time

    CAMBRIDGE – Robert Gordon of Northwestern University is a distinguished economist whose work in macroeconomics and studies of long-term econ…

  • Portrait of Lee Howell

    Systems at Risk

    GENEVA – Failure to adapt to climate change, persistent extreme weather, and major systemic financial failure are just three of 50 major ris…

  • Portrait of Zhang Monan

    The Real Interest-Rate Risk

    BEIJING – Since 2007, the financial crisis has pushed the world into an era of low, if not near-zero, interest rates and quantitative easing…

  • Portrait of Peter Sutherland

    Taking Back Immigration

    LONDON – Within hours of US President Barack Obama’s re-election last month, a powerful belief took hold: overwhelming support from Latino v…

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