Thank you, Kiran, for your thoughtful response. We are in favor of infrastructure that is "appropriate scale" for democratically determined purposes, wherever and however that is possible. We see that - at multiple levels - the quest to scale-up PPPs and bundle them into investment portfolios lacks key norms other than those protecting investors. At the G20, there are repeated failures to introduce normative thinking. This failure is more dangerous than the scale or the financing modality in my view. Regards, Nancy
Forty years after the revolution that ousted the Shah, Iran’s unique political-religious system and government appears strong enough to withstand US pressure and to ride out the country's current economic difficulties. So how should the US minimize the risks to the region posed by the regime?
Across the advanced economies, monetary and fiscal policymakers lack the tools needed to respond to another major downturn and financial crisis. Worse, while the world no longer needs to worry about a hawkish US Federal Reserve strangling growth, it now has an even bigger problem on its hands.