Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn discusses what the U.S. budget agreement means for global markets.

Bottom Line: Growth is slowing in China, which could constrain the pace of rebalancing and policy reform. China's long-term growth could disappoint markets. If you are an English football fan, you…

Bottom Line: The October U.S. budget agreement provides a short respite, with a new spending showdown likely in January. Although the debt limit extension may last until the summer, the costs of our …

Bottom Line: In the face of uncertain capital flows, an international network of swap lines would help to ensure adequate liquidity and act as a significant enhancement of the global financial safety…

Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that while new collective action clauses are a step forward in dealing with sovereign debt crises, countries must work to change old debt that lacks the clauses to the new standard as quickly as possible.