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.

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.

Sebastian Mallaby explains why private equity represents a sound alternative to the beleaguered public equity model of corporate governance.

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.

Sebastian Mallaby considers how the advent of smart supercomputers raises tough questions about inequality and jobs.

Sebastian Mallaby explains how Robert Zoellick has guided the World Bank into an era of greater transparency, collaboration, and innovation.

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.

In addressing capitalism's critics, Sebastian Mallaby champions hedge funds as appealing alternatives to too-big-to-fail institutions.

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.

Sebastian Mallaby argues that the internationalization of the renminbi is less a sign of China's rise than of China's internal confusion.

The next U.S. president will have to navigate between grand ambition and the realities of the world economy, says CFR international economics expert Sebastian Mallaby. This video is part of a special Council on Foreign Relations series that explores the top foreign policy issues debated in the run-up to the 2012 elections.

CFR's Sebastian Mallaby discusses the EU summit's potential for stemming the tide of the eurozone debt crisis.

Italy's budget may matter more than ineffectual Franco-German summitry, but the new agreement between France and Germany on reforming EU rules remains a reckless distraction, says CFR's Sebastian Mallaby.

A preview of world events in the coming week from CFR.org: EU leaders meet for a critical summit; the Greek parliament votes on a 2012 budget; a conference on Afghanistan's future convenes without Pakistan; and the UK embassy attack bolsters a push for sanctions on Iran.

Sebastian Mallaby explains why Germany should pay more to keep the eurozone intact.