Unlike the global financial crisis of 2008-09, the current disruption in the financial markets of emerging market nations was anticipated. The “taper tantrum” of 2013 revealed the precarious position of many of these nations, particularly those dependent on commodity exports. The combination of a slowdown in Chinese growth, collapsing stock prices and a change in the [...]
The passage in the US Congress of legislation extending Trade Promotion Authority (TPA), also known since the 1970s as Fast Track, is a significant accomplishment, in that it permits the President and executive branch to make US trade policy in the national interest and to engage in diplomacy designed to achieve US trade policy [...]
Analyses and discussions of Greece’s economic situation usually begin—and often end—with its fiscal policy. The policies mandated by the “troika” of the European Commission, the European Central Bank and the International Monetary Fund have undoubtedly resulted in a severe contraction that will continue for at least this year. But little has been said about the [...]
The Greek crisis
What's going to happen to Greece and the eurozone?
During my recent visit to China I’ve given a few lectures at the top Beijing universities – Tsinghua, Renmin, Normal, and Beijing – and seminars in some think-tanks and research institutes, including the Center for China and Globalization. I also had couple of meetings with the readers of my new book published in Chinese: “Shi [...]
If Greece does exit the euro, nobody knows what will happen next. A country like Italy is seriously exposed, and the simple thought that it might be the next to tremble should be enough to scare the hell out of us all, including the euro orthodox thinkers who have brought us to this point.