Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that with sovereign debt woes in Greece and Ukraine testing markets and governments, now might be the time for policymakers to rethink the architecture for resolving debt crises.

Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn writes that financial markets rallied following the U.S. election, on hopes that President-Elect Donald J. Trump’s fiscal stimulus and deregulation initiatives would spur corporate profits and growth. Perhaps so, but a strong case could be made for the opposite: that Trump’s economic agenda will prove disruptive to trade and growth, face growing headwinds in Congress, and exert a contractionary impact on the U.S. economy.

Foreign ownership of U.S. assets has increased significantly since 1945, growing especially quickly over the past two decades. This growth is the result of a general increase in cross-border investme…

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…