The first authoritative history of hedge funds; from their rebel beginnings to their role in defining the future of finance.

China seems to want the yuan to dethrone the dollar as the global reserve currency. But don't expect China's currency to take over anytime soon.

Drawing on some 200 interviews, including twenty hours of discussions with World Bank President James Wolfensohn, Washington Post editorial columnist and Director of the Council's Center for Geoeconomic Studies Sebastian Mallaby takes readers inside the world's premier development institution.

Sebastian Mallaby argues that although it will not solve all U.S. economic woes, a manufacturing renaissance is both possible and desirable.

Sebastian Mallaby argues the lesson from sub-Saharan Africa's economic turnaround is that policies do matter.

Sebastian Mallaby argues that Europe's future is looking frighteningly like Japan's past.

Sebastian Mallaby argues that microeconomic struggles are tarnishing the macroeconomic success of the BRICs.

Sebastian Mallaby argues that Spain is unlikely to get control of its debt dynamics without more aggressive action from European leaders.

Acrimony among European leaders regarding a new EU budget is indicative of larger challenges the union faces in facilitating further economic integration, says CFR's Sebastian Mallaby.

Sebastian Mallaby argues that the European Central Bank should embrace a weighted-vote governance structure in its plans for a new bank supervisory board.

Sebastian Mallaby considers how economic forecasters should adapt their methods to reflect today's high levels of policy uncertainty.

Sebastian Mallaby argues that the conditionality of the ECB plan to resume sovereign bond purchases will blunt the intervention's effectiveness.

The U.S. Federal Reserve, confronting slowing growth and high unemployment, should unveil new stimulus tools at its next policy meeting, writes CFR's Sebastian Mallaby in an op ed.

If the eurozone splinters, it will have been an avoidable disaster.

Sebastian Mallaby examines the Spanish experience with countercyclical capital buffers to argue that even the most innovative banking regulations will never take taxpayers completely off the hook when banks go bust.

A Greek exit from the euro following the country's upcoming elections will be have negative consequences for Greece, European banks, as well as the eurozone, cautions CFR's Sabastian Mallaby.

New electoral currents in Europe are threatening the German-backed fiscal responsibility pact and sparking fresh fears of debt contagion, says CFR's Sebastian Mallaby.

Sebastian Mallaby explains how post-election gridlock could either send the U.S. economy over the edge of a "fiscal cliff" into recession or lead it down a risky road of more debt and downgrades.

Sebastian Mallaby argues that, by focusing on a "Buffett rule," President Obama is squandering his chance to sell voters on meaningful tax reform.

Sebastian Mallaby asks whether the Fed might fall behind its Continental counterpart in exercising bold economic leadership.

The U.S. visit of Vice President Xi Jinping occurs at a time of resurfacing tensions over trade and China's currency, says CFR's Sebastian Mallaby, but there is a formula for resolving each problem.

Sebastian Mallaby proposes that Mitt Romney declare war on America's addiction to debt.

China seems to want the yuan to dethrone the dollar as the global reserve currency. But don't expect China's currency to take over anytime soon.