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China old people Sheldon Cooper/SOPA Images/LightRocket via Getty Images

China’s Population Bust

Featured in this Big Picture
  1. Zhang JunZhang Jun,
  2. Shang-Jin WeiShang-Jin Wei,
  3. Nancy QianNancy Qian,
  4. Adair TurnerAdair Turner,
  5. Frank GötmarkFrank Götmark,
  6. Robin MaynardRobin Maynard

Recently published census data showing that the world’s most populous country is aging rapidly and becoming less fertile have alarmed the government. But further relaxing China’s family-planning policy may not have the desired effect, and could even prove counterproductive.

  1. Biden Europe Tour Olivier Douliery/AFP via Getty Images

    Biden’s Grand Tour

    Featured in this Big Picture
    1. Melvyn B. Krauss,
    2. Charles A. Kupchan,
    3. Ana Palacio,
    4. Simone Tagliapietra,
    5. Joseph S. Nye, Jr.,
    6. Anne O. Krueger,
    7. Joschka Fischer

    His first visit to Europe since taking office gives US President Joe Biden an opportunity to exorcise the toxic legacy of Donald Trump’s America First nationalism and isolationism. But will he succeed in promoting multilateral cooperation on global challenges while also forging a robust Western stance toward China?

  2. rio jab Mario Tama/Getty Images

    Speed the Jab

    Featured in this Big Picture
    1. Joseph E. Stiglitz,
    2. Lori Wallach,
    3. Jayati Ghosh,
    4. Pinelopi Koujianou Goldberg,
    5. Michele Goodwin,
    6. Gregory Shaffer,
    7. Michael Spence,
    8. Heidi J. Larson

    Even as many rich countries free themselves from the pandemic’s grip, COVID-19 cases and deaths are surging in several regions, enabling dangerous new variants to emerge. Only universal immunization can end the cycle of misery – but achieving it will require more than a temporary waiver of vaccine manufacturers’ intellectual-property rights.

  3. BP Gaza explosion Yousef Masoud/SOPA Images/LightRocket via Getty Images

    Gaza’s Forever War

    Featured in this Big Picture
    1. Shlomo Ben-Ami,
    2. Fawaz A. Gerges,
    3. Peter Singer,
    4. Carl Bildt,
    5. Kevin Watkins

    Despite a fragile cease-fire, the latest violent eruption of the Israeli-Palestinian conflict has had predictably disastrous consequences for the enclave’s already desperate civilians, and has stoked extremism in Israel itself. For Israelis who assumed that Palestinian nationalism had been defeated, the explosion of tensions with the Jewish State’s Arab citizens augurs an unwelcome reckoning.

  4. informal construction Simon Maina/AFP via Getty Images

    The Future of Informality

    Featured in this Big Picture
    1. Marty Chen,
    2. Alice Saisha,
    3. Anuj Tanna,
    4. Jayati Ghosh,
    5. Pranab Bardhan

    Informal workers comprise about 60% of the global labor force – and a much larger share in emerging and developing economies. Many of them have made essential contributions during the pandemic, but that is no guarantee of improved rights, benefits, and working conditions once the crisis is over.

  5. ECB Rubicon Yann Schreiber/AFP via Getty Images

    Crossing the Rubicon of Price Stability

    Featured in this Big Picture
    1. Daniel Gros,
    2. Barry Eichengreen,
    3. Isabelle Mateos y Lago,
    4. Megan Greene,
    5. Jean Pisani-Ferry,
    6. Anita Bhatia

    With inflation subdued for now, central banks are increasingly responding to public pressure to address inequality and climate change. But by venturing into new policy terrain and exposing themselves to accusations of mission creep, they may be jeopardizing their operational independence.

  6. Dhaka test Rehman Asad/NurPhoto via Getty Images

    The Recovery of Women

    Featured in this Big Picture
    1. María Fernanda Espinosa,
    2. Helen Clark,
    3. Pinelopi Koujianou Goldberg,
    4. Parimita Mohanty,
    5. Annette Wallgren,
    6. Palesa Libe

    Among its many harmful effects, the COVID-19 pandemic has exacerbated long-standing gender inequalities. If leaders are serious about “building back better” and promoting inclusive economies and societies, they must take concrete steps to empower women at home, at work, and in policymaking.

  7. IRS building Pgiam/Getty Images

    The Great American Tax Gambit

    Featured in this Big Picture
    1. Daron Acemoglu,
    2. José Antonio Ocampo,
    3. Joseph E. Stiglitz,
    4. Jayati Ghosh,
    5. Alan J. Auerbach,
    6. Nouriel Roubini,
    7. Michael Heise

    To help finance its massive post-pandemic infrastructure investment package, US President Joe Biden’s administration plans to increase corporate taxes and reduce the scope for profit-shifting by US-based multinationals. Although the proposed tax changes are likely to face opposition from congressional Republicans and big business, are any of the alternatives better?

  8. myanmar explosion Stringer/Anadolu Agency via Getty Images

    Myanmar Explodes

    Featured in this Big Picture
    1. Achim Steiner,
    2. Shashi Tharoor,
    3. Brahma Chellaney,
    4. Thitinan Pongsudhirak,
    5. Lee Jong-Wha,
    6. Yuriko Koike

    After a gradual decade-long democratization process, Myanmar’s military seized power again in February and is waging a ruthless crackdown against unarmed civilian protesters. A major escalation of the ongoing turmoil – civil war is a growing possibility – would have implications far beyond the country’s borders.

  9. light bulb economics phototechno/Getty Images

    Economics Must Build Back Better, Too

    Featured in this Big Picture
    1. Dani Rodrik,
    2. Arvind Subramanian,
    3. Devesh Kapur,
    4. Lisa D. Cook,
    5. Elmira Bayrasli,
    6. Ricardo Hausmann,
    7. Roman Frydman,
    8. Michael D. Goldberg,
    9. Diane Coyle

    As the world strives to recover from the COVID-19 pandemic, economists’ efforts to devise strategies to generate inclusive and sustainable prosperity have taken on greater urgency. But those efforts will not succeed unless the profession itself becomes more inclusive – in terms of gender, ethnicity, national origin, and the intellectual assumptions and methods it employs.

  10. recovery mission Images

    Mission: Recovery

    Featured in this Big Picture
    1. Michael Spence,
    2. Joseph E. Stiglitz,
    3. Jayati Ghosh,
    4. William R. Rhodes,
    5. Stuart P.M. Mackintosh,
    6. Mohamed A. El-Erian,
    7. Mariana Mazzucato,
    8. Laurie Macfarlane,
    9. George Dibb

    Many fear that sharp differences in the speed of vaccine rollouts and the scale of stimulus measures will result in a K-shaped global economic recovery, with much of the developed world booming while poorer countries continue to struggle. But if policymakers are not careful, advanced economies also could experience highly uneven post-pandemic growth.

  11. EU slow vaccine FrankyDeMeyer/Getty Images

    Vaccine Strains

    Featured in this Big Picture
    1. Hans-Werner Sinn,
    2. Melvyn B. Krauss,
    3. Ngaire Woods,
    4. Oyeronke Oyebanji,
    5. Shashi Tharoor,
    6. Erik Berglöf,
    7. Daron Acemoglu

    The European Union’s sluggish COVID-19 vaccination efforts are currently dominating the headlines and undermining confidence in the bloc. But, overall, rich countries remain well ahead of the developing world in the global scramble for supplies – and the longer this imbalance persists, the greater the risk that new coronavirus variants will emerge that can again threaten the world.

  1. eichengreen154_Mark HarringtonNewsday RM via Getty Images_offshorewindfarm Mark Harrington/Newsday RM via Getty Images

    The Logic of Effective Climate Action

    Barry Eichengreen

    The starting point for addressing climate change, economists agree, is a tax on carbon. But while the resulting reduction in emissions would benefit virtually everyone on the planet, those who bear a disproportionate share of the costs will mobilize in opposition – that is, unless they are given a reason not to.

    argues that the best way to overcome organized resistance to a carbon tax is to buy it off.

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