Emerging Markets

Op-Ed

What's in a Name?

Author: Brad W. Setser
Emerging Markets

China’s sovereign wealth fund looks more like a state agency for managing financial sector investments than a diversified global fund manager, says Brad Setser in a piece that first appeared in the May 2008 issue of Emerging Markets.

See more in Emerging Markets; China

Book

The Bridge to a Global Middle Class

A thought-provoking retrospective that culls the views of economists, international financial institutions, Wall Street, organized labor, and various public-interest organizations on how to fortify the U.S. global financial infrastructure. The effort is the culmination of an eighteen-month study that sought to encourage the evolution of middle-class-oriented economic development in emerging-market countries.

See more in United States; Economic Development; Emerging Markets

Other Report

The Paradox of Free Market Democracy: Indonesia and the Problems Facing Neoliberal Reform (A CFR Paper)

Author: Amy L. Chua

This paper situates the recent problems in Indonesia in a more general framework that is called the paradox of free-market democracy. The basic thesis advanced is as follows. In Indonesia, as in many developing countries, class and ethnicity overlap in a distinctive and potentially explosive way: namely, in the form of a starkly economically dominant ethnic minority--here, the Sino-Indonesians.

See more in Emerging Markets; Indonesia

Other Report

Korea's Comeback: The Thirst for Funds Drives (A CFR Paper)

Author: Hilton Root

Six years ago, Korea was in trouble. Its banking system, inadequately supervised,collapsed. Industry,lac king financial discipline,expanded unproductively with its "too big to fail" private firms crowding out smaller rivals. Labor market rigidity weakened the competitive position of Korean industry. The financial crisis that resulted gave rise to hopes that significant reform would address all three dimensions of Korea's vulnerability.

See more in Emerging Markets; North Korea; Financial Crises

Must Read

Foreign Policy: The Dark Side of China's Rise

China’s economic boom has dazzled investors and captivated the world. But beyond the new high-rises and churning factories lie rampant corruption, vast waste, and an elite with little interest in making things better. Forget political reform. China’s future will be decay, not democracy.

See more in China; Emerging Markets