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China’s Journey into the Unknown

China watchers have grown ever more anxious as President Xi Jinping has concentrated power in his own hands, and as

China Must Restore Growth

China is having an eventful month, marked by proliferating power-supply disruptions and the debt crisis of the country’s second-largest property

Learning to Manage the China Threat

When US President Bill Clinton backed China’s accession to the World Trade Organization, he suggested that the move would spark

The EU Must Step Up in Glasgow

The United Kingdom’s prime minister, Boris Johnson, may not appeal to everyone – especially European Union leaders put off by

Biden’s Trap

When the election gods handed Joe Biden the presidency in 2020, they set a trap that he walked right into.

No More Pandemic Have-Nots

COVID-19 has bifurcated the world like almost nothing else. The wealthiest countries have more than enough vaccine doses with which

China’s Self-Destructive Tech Takedown

Global equity markets appear transfixed by the Chinese property developer Evergrande, which seems poised to default on part of its

The Pandora Papers and the Threat to Democracy

The “Pandora Papers,” a new investigation led by the International Consortium of Investigative Journalists, has fueled outrage around the world.

After “Doing Business”

Earlier this year, the World Bank commissioned me and five fellow academics to develop recommendations on how to improve the

A Facelift for Facebook

If the testimony of whistleblower Frances Haugen, a former Facebook data scientist, before a US Senate subcommittee told us anything,

The Janus of Debt

Debt is back in the headlines. The COVID-19 pandemic has compelled an enormous expansion of public borrowing, and odd fiscal

The Bretton Woods Credibility Crisis

Despite setbacks like the Great Recession and the COVID-19 pandemic, the world economy has had a massively successful run since

Dancing with the Debt Ceiling

In 2011, when still vice chair of the US Federal Reserve, Janet Yellen reassured her colleagues that drama around the

The Bitcoin Fountainhead

With the price of Bitcoin reaching new highs, and El Salvador and Cuba deciding to accept it as legal tender,

The China Sleepwalking Syndrome

As US President Joe Biden’s administration implements its strategy of great power competition with China, analysts seek historical metaphors to

A Global Institution for an Aging World

The COVID-19 pandemic has made global aging impossible to ignore. This pandemic is the first to occur since the world’s

Prudence Over Sustainability

“Sustainability” is an increasingly popular term used to signal one’s virtue in contemporary public discourse, but it is a poor

Behind the Modern Malaise

In describing recent economic history as “the inglorious years,” French economist Daniel Cohen’s title refers primarily to a problem that

The Geopolitical Conquest of Economics

From the Huawei affair to the AUKUS spat and beyond, a new reality is shaking up the global economy: the

China’s Housing Conundrum

The impending bankruptcy of Chinese real estate giant Evergrande, with its $300 billion in debt, has roiled global investors. Analysts