The Common Framework, developed by the G-20 back in the fall of 2020, hasn’t provided a pathway t

This is a joint post by Brad Setser and

The World Bank plays many roles in the global economy, but its most important one is leveraging i

China’s holdings of Treasuries have attracted

This is a joint post by Brad Setser and

This a joint post by Brad Setser, a senior fellow at the Council on Foreign Relations, and Al

The IMF’s surveillance cycle for China is wrapping up, and at least judging from

I first started to write a balance of payments focused blog back in 2004. 

I am stepping down from my position at the Council of Foreign Relations to take a

Balance of payments surveillance is at the center of

The lira was under a fair amount of pressure today.

The IMF’s

Lazard—the leading sovereign debt advisory firm in the world right now—makes an interesting point

There are certain rules of the thumb that you can usually rely on. 

For better or for worse, I have been trying to

There is a sense, I think especially in foreign policy circles, that 

For all the talk of Sino-American decoupling, the broad pattern of global trade—at least the unba

There is, now, I hope a growing recognition that tax avoidance has a significant impact on the st

On an annualized basis, China’s trade surplus in July was around $700 billion. That’s big.

A weaker dollar inevitably produces

This is a guest blog by Josh Younger, an interest rate strategist at J.P. Morgan.

This is a guest blog by Josh Younger, an interest rate strategist at J.P. Morgan.

This is a guest blog by Josh Younger, an interest rate strategist at J.P. Morgan.

This is a joint blog post by Brad W.

Argentina pushed back the deadline for its restructuring to

The coronavirus shock was, for many emerging economies, a financial shock—not just a shock to the

It is common to attribute the fall in U.S.

America’s production of pharmaceuticals and medicines peaked in 2006, back before the global fina

1. Globalization hasn’t meant increased demand for U.S.

Turkey’s banks have long had more foreign currency deposits than foreign currency loans.

The United States, like the U.K., is a services driven economy.

Right now, there is—appropriately—a premium on looking forward.

China has a reputation for responding to tariffs—even ones introduced by countries following the

The global economy has been hit with a nearly unprecedented set of shocks.

China’s tax system is far too regressive.

Asia’s life insurers likely hold somewhere between $1.5 trillion and $2 trillion of foreign curre

The dollar is in some ways a global currency. The BIS estimates that banks outside the United Sta

Let me start by noting that COVID-19 should change the global, not just the national, economic po

I admire the Irish statistics office.

Tariffs,

Lebanon doesn’t get much attention from the financial press.

The tax avoidance strategies of large American pharmaceutical companies and the big American tech

Puerto Rico has

With the phase one

It is by now generally recognized—not the least by

President Trump came into office talking a big game on "currency." China was going to be named a

U.S.

Happy Holidays, and if it fits, Merry Christmas.

A lot of financial globalization has been driven by tax avoidance.

One central question facing the global economy is how much of the slowdown in global trade can be