NEW YORK – China’s successful transformation from a middle-income country to a modern, high-income country will depend largely on the reform…
BEIJING – It is indisputable that China is over-issuing currency. But the reasons behind China’s massive liquidity growth – and the most eff…
MUMBAI – The ongoing weakness of America’s economy – where deleveraging in the private and public sectors continues apace – has led to stubb…
BUENOS AIRES – The global financial crisis has raised fundamental questions regarding central banks’ mandates. Over the past few decades, mo…
BERKELEY – Imagine two central banks. One is hyperactive, responding aggressively to events. While it certainly cannot be accused of ignorin…
ATHENS – The Cyprus bailout deal is a watershed in the unfolding eurozone crisis, because responsibility for resolving banks’ problems has b…
ISTANBUL – In the last four weeks, I have traveled to Sofia, Kuala Lumpur, Dubai, London, Milan, Frankfurt, Berlin, Paris, Beijing, Tokyo, I…
CHICAGO – From the standpoint of European stability, the Italian elections could not have delivered a worse outcome. Italy’s parliament is d…
HONG KONG – On March 1, China’s State Council announced a new batch of restrictions aimed at reining in property prices by curbing speculati…
BARCELONA – In recent months, the dichotomy between booming financial markets, on the one hand, and sluggish economies and dysfunctional pol…