As emerging economies increase in size, a multi-currency arrangement will likely replace the dollar as the bedrock of the international monetary system. For both the United States and the rest of the world, this is not necessarily bad news.
The international community must provide support to countries across the Middle East in order to contain the numerous financial and economic risks created by the current unrest.
The costs of the dollar's status as the international reserve currency now outweigh the benefits, and the United States should take the lead in moving to multi-currency reserves.
If China is to avoid accumulating unsustainable levels of debt, it must reform its banking system by lowering interest rates, improving corporate governance, ensuring a more predictable regulatory framework, and providing higher quality information to investors.
The apparent demise of protests against the IMF and World Bank is a reflection of broader transformations in the international economy, transformations that have rendered these global financial institutions both less fearsome and less relevant.
While Russians are increasingly calling for political reforms, the high price of oil allows the Kremlin to increase social spending and avert broad public discontent for a while longer.
While markets seem calm for now, the failure of the EU's recent summit, combined with Portugal’s recent request for aid and other political setbacks, leaves the euro area vulnerable to a relapse of crisis.
Although the situation in Libya has attracted international attention, it is Egypt that must succeed—economically, first and foremost—if democracy in the Middle East is to have a chance.
Despite its annual economic growth, Syria’s poverty rate remains high. The Syrian government needs to enact further economic reforms in order to address some of the anger expressed by growing protests across the country.
The need to address pressing near-term challenges, such as inflation, may not conflict with China’s medium-term rebalancing goals. Even though the policy outlook is uncertain, several long-term dynamics make rebalancing likely.























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