Robert Kahn, Steven A. Tananbaum Senior Fellow for International Economics
If you are an English football fan, you may have noticed an odd occurrence this preseason: the big teams are all touring in Asia. Booming shirt sales and rising viewership apparently are sufficient evidence that the Asian consumer is the future. Rebalancing is here.
For a more nuanced assessment of China's rebalancing and future growth prospects, the International Monetary Fund's (IMF) annual review of the Chinese economy is worthwhile reading. It raises several questions about growth and reform, the tradeoffs between the two, and the financial pressures ahead, which the news coverage failed to notice. Read the full Monthly Report
While Europeans suffer from adjustment fatigue, European leaders are gearing up for a potential December meeting for a "move toward more Europe." The period of financial market calm may be coming to an end.Read more »
The Greek government has reached agreement with the Troika for 8.1 billion euros to put its program back on track. However, my fear is that flaws in relief programs are being papered over in hopes of easier times after German elections. Read more »
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