In The News

William Pesek March 21, 2017
The People’s Bank of China, in line with the US Federal Reserve’s March 15th decision, recently increased some interest rates while the Bank of Japan responded by maintaining its negative interest rate target. Divergence in monetary policy “adds a new element of market uncertainty into 2017,” writes William Pesek for Barron’s. The governor of the People’s Bank of China, Zhou Xiaochuan, instituted...
Pilita Clark March 18, 2017
The world has kept emissions that cause climate change in check for the third year in a row during a period when the prices of fossil fuels were low and global economic growth averaged about 3 percent per year. Natural gas has quickly replaced coal as an energy source, seven nuclear power plants went on line in China and renewable energies are becoming more affordable. The trends suggest “a shift...
Fran Wang and Pan Che March 13, 2017
Political rhetoric blasting global trade from the United States and other countries may slow economic growth in the world’s second largest economy. “China recorded its first trade deficit in three years last month as imports surged on soaring commodity prices while exports declined, likely adding uncertainty to the country’s growth prospects,” reports a team from Caixin. “The surprisingly robust...
Stephen S. Roach March 4, 2017
Strident rhetoric about competitors and rivals is common in US presidential campaigns, and the Trump administration has appinted a team whose "anti-China credentials are without modern precedent,” explains Stephen Roach, author and Yale faculty member for the Asia-Pacific Journal: Japan Focus. “Its initial pronouncements point to a wide range of economic and political sanctions – from...
Vera Songwe February 21, 2017
As Africa’s population grows and moves to urban areas, one major challenge facing the continent will be housing. McKinsey estimates that by 2025, over 90 percent of young people in Africa will live in urban areas. Policymakers and the private sector must work to make millions of new housing units available and affordable. Vera Songwe, writing for Brookings, urges governments to work with the...
Benn Steil and Emma Smith February 21, 2017
Macroeconomic theory predicts that indebted countries have negative net foreign investment income, while creditor countries have positive flows. The US and China, however, are bucking the trend due to the idiosyncratic natures of both their currencies and governments. One element is China’s willingness, and the world writ large, to accept low returns on the dollar in exchange for stability. About...
Greg Ip February 1, 2017
Innovations seem to be plentiful, but many developments so far are not leading to “meaningful advances in Americans’ standard of living,” explains Greg Ip for the Wall Street Journal. He adds that “improvements in everyday life have been incremental, not revolutionary” and an “innovation slump,” due to society’s impatience and fear of risk, contributes to middle-class dissatisfaction. Industry...

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