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An economic crisis comparable in size and virulence to the Lehman Brothers episode could erupt if Italy and Spain lose their ability to borrow. The G20 must act now to stabilize the eurozone.
President Obama's interactions with Chinese officials during his November visit to the East Asian Summit will be part of a high visibility effort by the United States to “rebalance” its attention to Asia.
Blaming the undervalued Chinese renminbi for America's economic ills is convenient but counterproductive, given the complicated causes of U.S. trade imbalances.
Extending the customs union between Turkey and the EU to countries in the Middle East and North Africa would make establishing a free trade area across the Mediterranean much simpler and eliminate disincentives to trade and investment.
Turning to foreign sources of capital, like a bailout by the BRIC countries, would only aggravate Europe’s economic problems, hurt growth prospects, and make the ultimate resolution of the debt crisis more difficult than ever.
Far from resolving America's economic woes, targeting China's currency will only result in higher prices for U.S. consumers and reduced global demand.
Although tempting in the short run, a sudden influx of foreign capital into the European Union would raise both unemployment and debt without addressing the root of Europe's economic woes.
World trade is expanding rapidly, helping forge modern industrial sectors in emerging economies. Managing this evolving global trading system requires new leadership from the World Trade Organization.
The current Euro crisis will either cause the European monetary union to collapse, leading to sovereign defaults across Europe, or it will force European countries to take real steps toward fiscal union and tighter economic coordination.
Leaders in Germany and other eurozone countries are starting to recognize that dealing with the euro’s problems requires not just austerity and structural reforms in the periphery but also a much closer fiscal union.
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