FEATURED IN THE CURRENT ISSUE

Those Uppity Peasant Workers
The end of the era of cheap Chinese labor.
By Sasha Gong

A L S O  in the Winter 2009 issue:

Off the News
Japan’s fiscal stimulus, Singapore’s shipping parking lot, and Dan Gross’s Dumb Money.

Lax Governance and Poor Supervision
The Monetary Realist
By Adam S. Posen

How Much Will China Grow?
China, the world’s largest surplus country and one of the world’s most export-dependent economies, faces great uncertainty about its outlook amidst the current crisis. Over forty experts offer their predictions for China’s 2009 GDP growth rate.
A symposium of views

Solidifying a New G2
China and the United States should stabilize the yuan/dollar relationship.
By Ronald I. McKinnon

Replacing Humpty Dumpty
The new role of central bank credit targets.
By George A. Akerlof and Robert J. Shiller

If Barack Obama Could Achieve Only One Financial Reform, What Should It Be?
If the president asked you to name the most urgent financial reform, global or domestic, needed to rebuild the credibility of our financial system, what would you tell him?
A symposium of views

End Too-Big-to-Fail
If a bank is too big to fail, it is too big.
By Allan H. Meltzer

A Financial Stability Board
Cutting the Gordian Knot of U.S. financial regulation.
By Charles Taylor

Does the World Need a Financial Manhattan Project?
Do the world’s best financial minds need collectively to assemble to unravel today’s securitized asset markets which have paralyzed world credit markets? In his new book, Liaquat Ahamed describes a similar exercise in 1912 which led to the formation of the Federal Reserve.

A New Financial Architecture
The Issing Committee corralled some of the best minds in banking and financial supervision. Here’s what they concluded.

Recipe for Financial Order
A rule-based system for future prosperity.
By Horst Siebert

The Euro’s Deficiencies
Out of crisis can come a change in the European Union’s balance of power.
By George Soros

New Rules of the Road
A behind-the-scenes look at the U.S.-European struggle over financial regulation.
By Klaus C. Engelen

Duisenberg’s Lesson for the ECB
Stop worrying about the financial markets.
By Melvyn Krauss

Revisiting the 1930s
A pandemic of preferential trade agreements is undermining free trade.
By Jagdish Bhagwati

Not a Pretty Picture
With global debt soaring, the endgame of today’s recession will not be pretty.
By Kenneth Rogoff

Reinventing Capitalism
Taking it to its next phase.
By Dani Rodrik