Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that the United States should empower the International Monetary Fund and Group of Twenty to better address currency manipulation concerns.

Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn writes that Greece and its creditors are again locked in a showdown over reforms, cash, and debt relief. Another cliff-hanger ahead of heavy July debt payments looks likely. Extend-and-pretend is a dead end for Greece and an increasingly populist Europe, and a more ambitious agreement seems ruled out by bailout fatigue in creditor countries. Markets are once again underestimating the risks of “Grexit.”

Bottom Line: Abenomics had an impressive start, but the structural reform agenda has bogged down, raising questions about whether macro policies alone can float the Japanese economy. Against the back…

Military budgets are only one gauge of military power. A given financial commitment may be adequate or inadequate depending on the number and capability of a nation's adversaries, how well a country …