Economy

The global economy thrives on globalization and the increasing interdependence of finance, production, consumption and trade. Such integration has reduced poverty, yet varying national policies along with ever-increasing speed of transactions and market news have also contributed to imbalances, both among nations and within. Regulations often do not keep pace in managing cross-border debt, foreign direct investment, corporate practices, tax codes or economic bubbles. The eurozone crisis and the US subprime mortgage crisis have demonstrated that one nation’s problems and panic can spread like wildfire. Nations must combine a competitive spirit with cooperation to achieve stable economic growth and sustainable prosperity.

Recently in YaleGlobal

Barry Mirkin
YaleGlobal
, 3 April 2014
Governments must prepare for diverse rates of fertility, urbanization and aging population – all happening simultaneously
Joergen Oerstroem Moeller
YaleGlobal
, 1 April 2014
Saudi Arabia is vexed at shifting balance of power as the US transforms into its competitor
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YaleGlobal
, 13 March 2014
Confounded by off-shoring and technology, macro-management does not produce job growth
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YaleGlobal
, 20 February 2014
Global markets would cheer if the US president ignores debt-ceiling law
Stephen S. Roach
YaleGlobal
, 18 February 2014
China is striving for new economic balance and self-reliance, and the US should do the same
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YaleGlobal
, 14 January 2014
Indian workers perform well and earn top incomes in most places except India
> MORE YALEGLOBAL ARTICLES

In the News

Ed Hammond
The Financial Times
, 15 April 2014
US tax policy encourages such headquarter relocations
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The Asia Sentinel
, 10 April 2014
Yuan could soon be ready to join basket of currencies sought by investors
The Economist
, 9 April 2014
China considers raising its retirement age
Richard Anderson
BBC News
, 8 April 2014
Citizens, geology may not cooperate
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Project Syndicate
, 7 April 2014
Emerging economies with large foreign reserves fear Federal Reserve policy
Lucy Hornby and Jamil Anderlini
The Financial Times
, 14 March 2014
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> MORE IN THE NEWS

More On Economy

COLUMN
Short-term strategic concerns trump concerns about sovereignty for Ukraine
VIDEO
In an interview with with YaleGlobal editor Nayan Chanda, Dr. Raghuram Rajan, Chief Economic Adviser to the Government of India and former Chief Economist of IMF explains the background of the global economic crisis, mixed US success in containing it, Europe's challenge and background to reforms on FDI and subsidy launched in India in September, 2012.
AUDIO
BOOK REVIEW
Alistair Burnett reviews Edward Luce’s Time to Start Thinking: America and the Spectre of Decline, calling it a stern wake-up call from a friend.
BOOK EXCERPT
The world is slowly eliminating poverty and seeing a rising middle class, which along with education and technology, brings an unprecedented convergence of interests, cultures and standards.
ACADEMIC PAPER
Wage inequality may have little association with economic growth, and reversing it would have little impact on growth