Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn discusses economic reform and rebalancing in China and their implications for future growth and crisis prevention.

Bottom Line: There's a strong consensus that this fall's fiscal showdown will result in a compromise agreement, but a deal may be harder to get than markets anticipate. Have pity on the U.S. fisca…

Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that China's growth prospect lies somewhere between hard-landing and muddle-through scenarios. However, uncertainty remains and is already being felt strongly and likely to put increasing pressure on emerging markets through trade contraction and financial contagion. For the United States, fragility in emerging markets is the critical risk and will dominate economic decision-making for months if not years to come.

Bottom Line: Eurozone countries that need to ease fiscal policy cannot afford to take on more debt, while those that have the capacity to stimulate their economies do not want to. Advocates of aus…

Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that the decisions the Greek government will now face over who to pay will change the course of its crisis.