How International Is International Monetary Fund?

How International Is International Monetary Fund?

photo: World Bank Photo Collection Recently, the International Monetary Fund announced “historic reforms” in its governance. In reality, changes have barely begun. The IMF does not look like the world it purports to represent.  During the global crisis of 2008/9, advanced economies could no longer contain the devastation. As a result, the old G7 club of […]

President Xi in the Middle East: From U.S. Regime Change to Chinese Economic Development

President Xi in the Middle East: From U.S. Regime Change to Chinese Economic Development

photo: thierry ehrmann President Xi Jinping’s three-nation tour in the Middle East heralds a shift from US regime change to Chinese economic development. President Xi’s tour took place amid a perilous moment in the region. Saudi Arabia is struggling with the plunge of oil prices, rapidly rising debt and a war against Yemen. In Egypt, opposition […]

Japan’s Negative Interest Rate Gamble

Japan’s Negative Interest Rate Gamble

photo: Andy Roberts Instead of boosting growth, the Bank of Japan’s negative interest rates will contribute to domestic fiscal deterioration, regional risks, even global threats. About a week ago, the Bank of Japan’s (BOJ) governor Haruhiko Kuroda said to the parliament: “We are not considering a cut in interest on bank reserves.” True, the European […]

Slower Growth Consistent with Post-Industrial Era

Slower Growth Consistent with Post-Industrial Era

photo: Cory M. Grenier After intensive industrialization, growth deceleration is natural. No nation has enjoyed sustained double-digit growth after industrialization. The real test of resilience is the continued increase of Chinese living standards. In 2015, China’s economy grew by 6.9 percent. Internationally, the performance was portrayed as the “slowest in 25 years.” Some argued that the […]

Guangdong: The Epicenter of China’s Rebalancing

Guangdong: The Epicenter of China’s Rebalancing

China’s southern province, Guangdong, is emerging as a globally important innovation zone and consumer market. It moves into the future as it builds a post-industrial society. The forces that once boosted Guangdong’s dramatic economic boom – industrialization, booming world trade, cheap labor and low-cost manufacturing – are fading. With the slowest growth pace in 25 […]

China’s Anti-Graft Drive Supports Resilient Growth

China’s Anti-Graft Drive Supports Resilient Growth

Photo Courtesy of :Democracy Chronicles As China’s anti-corruption drive is expanding from the public and corporate sector to financial institutions, some argue that it is hurting economic growth. In reality, it is the rule of law that can ensure China’s resilient growth. On taking office, top leader Xi Jinping vowed to crack down on “tigers […]

Volatile Markets in an Uncertain World

Volatile Markets in an Uncertain World

Photo: See-ming Lee Recent market volatility is neither entirely warranted nor unexpected. In China, it reflects a confluence of forces; but in the US and internationally, it is fueled by international worries. On Monday, January 4, China’s A-shares plunged by about 7%, whereas the renminbi (RMB) weakened to 6.52 relative to US dollar. The CSI […]

The Year 2016 Requires Tough Decisions in Nigeria

The Year 2016 Requires Tough Decisions in Nigeria

photo: Nicolas Raymond After the plunge of the commodity prices, the US Fed’s rate hikes are paving way for dimmed prospects in many emerging economies. Nigeria is not an exception. Recently, the US Federal Reserve raised interest rates by 25 basis points, taking the first step away from its near-zero interest rate policy. Advanced economies are […]

US Fed Rate Hike Will Test Emerging Markets

US Fed Rate Hike Will Test Emerging Markets

photo: Future Atlas In the multipolar world economy, the Fed’s unilateral actions contribute to diminishing global growth prospects. The US Federal Reserve raised interest rates by 25 basis points last week, taking the first step away from its near-zero interest rate policy. Led by its chairman Janet Yellen, the Fed sought to defuse market tensions by […]

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