In The News

April 24, 2019
China and India at times engage in a process of mythmaking and historical erasure in championing their thousands of years of history. A recent article for the Economist observes, “Nowhere more than in Asia do states and their rulers tend to think they represent not just, say, defined territories or peoples with a shared language, but rather whole civilizations, often cosmically ordained.” However...
April 17, 2019
China posts a high savings rate, but the country needs pension reforms. Some workers do not receive benefits to which they are entitled. The median age is 37.3 and with a low fertility rate and improved health care, the population is aging. Caixin describes the pension system in crisis and need for national coordination with fair distribution among provinces – “an inevitable requirement for the...
Vitor Gaspar, John Ralyea, and Elif Ture April 15, 2019
The International Monetary Fund warns that public debt combined with slowed economic growth could constrain future government spending on education, employment, healthcare, infrastructure and retirement. The IMF advises policymakers to encourage more inclusive growth by reducing debt and investing in the futures of their citizens by reducing tax exemptions and improving tax administration. “The...
Robert Freeman April 8, 2019
The United States prepares for the 2020 presidential election and Republicans as the party in power insist that their opponents, the Democrats, are increasingly socialist and want to upend the capitalist system. Proper economic governance cannot rely on all capitalism or all socialism, and the definitions suggest that successful and prosperous countries rely on a combination of both. “Tools of...
Michael Spence March 27, 2019
Global economic activity is on decline as investors and businesses confront uncertainty. The US-China trade war contributes to the hesitation, as trade partners ponder the costs and benefits of global economic connectivity and players retreat toward old patterns. For example, China’s state-owned enterprises, a target for complaints from the United States and elsewhere over subsidies, have an...
Stephen Morris March 21, 2019
Businesses prepare for the chaos of worst-case Brexit scenarios, reports an Ernst & Young Global Limited survey. For financial services companies, that includes plans to transfer £1 trillion in assets from the United Kingdom to Europe. British negotiators struggle to reach a deal that includes freedoms from immigration and European regulations, as desired by just over half of voters in the...
March 21, 2019
The June 2016 vote for the United Kingdom to withdraw from the European Union, with faulty information distributed throughout the campaign, was the nation remains divided over how to leave. EU leaders agreed on a plan for delaying the Article 50 deadline of March 29: UK can have until 22 May if parliament approves a plan already negotiated with the EU. If the parliament rejects that plan the UK...