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Asia

India’s New Government Messiah

Winning To the unrestrained delight of investors and financial markets, Narendra Modi has prevailed in the audition for India’s newest Messiah. The incumbent has been received rapturously, with commentators running out of superlatives and comparisons – Thatcher, Reagan and several Indian gods. Indian stocks, up over one-third since September 2013, and the rupee, up about [...]

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Emerging Markets

The BRICS and the Bretton Woods Twins

The World Cup was not the only event of global significance to take place in Brazil this summer. The leaders of Brazil, Russia, India, China and South Africa met in the city of Fortaleza and announced the formation of two new financial institutions. One is the New Development Bank (NDB), which will finance “sustainable development” projects, [...]

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Code Red!

Iraq, Ukraine and other geostrategic hotspots.

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Nouriel Roubini's Global EconoMonitor

The Great Backlash

In the immediate aftermath of the 2008 global financial crisis, policymakers’ success in preventing the Great Recession from turning into Great Depression II held in check demands for protectionist and inward-looking measures. But now the backlash against globalization – and the freer movement of goods, services, capital, labor, and technology that came with it – [...]

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Because of rapidly approaching debt constraints, China cannot continue what I characterize as 'investment overshooting' economic polices for much longer (perhaps three or four years at most)...The longer this kind of growth continues, the greater the risk that China reaches debt capacity constraints, in which case the country faces a chaotic economic adjustment.

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Otaviano Canuto

Otaviano Canuto is Senior Advisor on BRICS Economies in the Development Economics Department, World Bank, a new position established by President Kim to bring a fresh research focus to this increasingly critical area. He also has an extensive academic background, serving as Professor of Economics at the University of Sao Paulo and University of Campinas (UNICAMP) in Brazil.

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