The prospect of bilateral trade agreements involving the US, the EU, and much of Asia suggests that global trade negotiations are being superseded by huge new regional pacts. Will abandoning multilateralism reduce or exacerbate the political and economic risks of liberalizing trade among the world's largest markets?
The Crisis that Germany Needs
Barry Eichengreen
argues that the country's economic woes reflect decades-old institutions that are no longer fit for purpose.
