Saturday, November 28, 2015
  1. The Trouble With Interest Rates

    J. Bradford DeLong

    The Trouble With Interest Rates


     explains why borrowing costs are too high, not too low.


    Conservative economists are wrong to accuse central banks of keeping interest rates unnaturally low. On the contrary, interest rates are higher than they should be, and central banks are doing the best they can in a difficult situation. READ MORE

  2. China’s Latest Five-Year Plan

    Martin Feldstein

    China’s Latest Five-Year Plan


     asks whether the target of 6.5% average annual growth can be met.

    Shanghai skyline at night

    Last month, the Chinese government released a preliminary summary of its 13th Five-Year Plan. While this is an important document for understanding where China is headed in the 2016-2020 period, China’s five-year plans just aren’t what they used to be. READ MORE

  3. China’s Macro Disconnect

    Stephen S. Roach

    China’s Macro Disconnect


     asks why consumer spending is growing at a glacial pace, even as services surge.

    Kiosk salesman in China

    China has been highly successful in transforming the industrial structure of its economy from manufacturing to services, but it has made far less progress in boosting private consumption. The country now has no choice but to address the causes of households' high precautionary saving and low discretionary spending. READ MORE

  4. The Trouble with International Policy Coordination

    Jeffrey Frankel
  5. China’s Multilateral Financial Mobilization

    Erik Berglöf

    China’s Multilateral Financial Mobilization


     expects increased engagement in international institutions to change China more than vice versa.

    Architecture in China.

    China's impending membership in the European Bank for Reconstruction and Development is only one instance of the country's rapidly growing role in the major international financial institutions. The question now is whether China will spur change within these institutions, or vice versa. READ MORE

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