While Greece has failed to meet the budget requirements mandated by the EU and the IMF, experts say eurozone leaders will likely continue to bailout the country because the costs of letting it go are far greater.
U.S. Treasury Secretary Timothy Geithner called for a global rebalancing and sought to reassure China, the largest holder of U.S. debt, about the health of the dollar. Experts say this shift is needed but some Chinese remain skeptical about the U.S. currency.
Swine flu has already shaken markets. While the scope of the current outbreak remains unknown, experts say a severe pandemic could drive productivity losses, dampen trade, and lower product demand at a time of preexisting economic frailty.
Migrants suffer as countries around the world adopt protectionist measures to respond to the global downturn. This could trigger economic and social instability in poorer countries, while adversely affecting rich economies in the long-term.
The debate over whether two giant U.S. banks should be "nationalized" has stoked new debate over when, and how, the government should intervene in financial markets.
Barack Obama's address to Congress outlined plans to revive the American economy, restore U.S. leadership abroad, and tackle long-term problems. Economists say Obama will walk a fine line balancing the need for swift action with the risk of expanding U.S. budgetary obligations.
The idea of creating green jobs drew great attention as the stimulus package made its way through Congress. Defining those jobs is difficult, however, and economists say many may simply displace existing jobs in the old carbon-based economy.
A downbeat Davos summit brings warnings of trade protectionism into the limelight. Economists say these concerns should be taken into account as leaders of industrialized nations craft economic stimulus plans.
Barack Obama's inauguration as forty-fourth U.S. president occurs at a time of global economic crisis, with multiple conflicts raging in the greater Middle East. Yet he enters office amid high expectations at home and abroad.
In More Money than God, Sebastian Mallaby has written the first authoritative history of hedge funds—from their rebel beginnings to their role in defining the future of finance. More
In Money, Markets, and Sovereignty, the authors present a fascinating intellectual history of monetary nationalism from the ancient world to the present and explore why, in its modern incarnation, it represents the single greatest threat to globalization. More
In The Closing of the American Border, Edward Alden goes behind the scenes to tell the story of the Bush administration’s struggle to balance security and openness in the wake of the September 11, 2001, terrorist attacks. More
In Termites in the Trading System, Jagdish Bhagwati reveals how the rapid spread of preferential trade agreements endangers the world trading system. More
In this report, Benn Steil shows that the financial crisis is the inevitable bust of a classic credit boom, and explains how monetary, taxation, and home ownership promotion policy combined with other features of the financial system to fuel an unsustainable buildup in debt. He recommends significant reforms to reverse the debt financing bias and make the system more resilient to falls in asset prices. More
In order for policymakers to tackle today’s global economic crisis, this report argues, they must go beyond bailouts and stimulus packages and focus on one of the crisis's root causes: imbalances between savings and investment in major countries. More