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Budget, Debt, and Deficits

The World Next Week: Will the Debt Debate Roil the Markets?

By experts and staff

Published
  • James M. LindsayCFR Expert
    Mary and David Boies Distinguished Senior Fellow in U.S. Foreign Policy
Floor trader Joe Quaglieri uses a phone on the floor of the New York Stock Exchange, April 18, 2011. Wall Street fell more than 1 percent on Monday as sovereign debt fears on both sides of the Atlantic and China’s monetary tightening hurt the outlook for global economic growth. (Brendan McDermid/courtesy Reuters)
Floor trader Joe Quaglieri uses a phone on the floor of the New York Stock Exchange on April 18, 2011, when Wall Street fell more than 1 percent as sovereign debt fears on both sides of the Atlantic and China’s monetary tightening hurt the outlook for global economic growth. (Brendan McDermid/courtesy Reuters)

The World Next Week podcast is up. Matt Pottinger sat in for Bob McMahon. Matt and I talked about the upcoming debt ceiling debate; next week’s GOP presidential debate in South Carolina; Monday’s parliamentary elections in Canada; and China’s effort to prohibit smoking indoors.

[audio: https://www.cfr.org/content/publications/media/podcast/2011/20110428_TWN…]

The highlights:

Matt and I aren’t the only commentators discussing these issues. The Atlantic reports on the market implications of the debt ceiling debate, and the Washington Post covers the Treasury Department’s contingency planning should the political impasse drag on. The Los Angeles Times runs through the criteria to qualify for the debate and Slate discusses the possibility that Fox News will cancel its upcoming GOP presidential debate in South Carolina due to a lack of eligible contenders. Reuters evaluates the likelihood and implications of possible outcomes of Canada’s May 2 election, and the Wall Street Journal discusses the unexpected rise of the New Democratic Party as a significant player in the electoral contest. The New York Times reports on China’s new smoking ban and Forbes’s “China Tracker” wonders how far the ban will reach.