Summer 2004-The International Economy


	From the Summer 2004 issue Return to PAST ISSUES \| HOME Avoiding a Currency War How a new “dual-key” exchange rate system could help the United States, Japan, the eurozone—and China—find a way out. By Adam S. Posen A L S O in the Summer 2004 issue: Inside the FOMC In his new book, a former Fed governor provides a rare glimpse of the inside workings of the Greenspan Federal Reserve. By Laurence H. Meyer Cooling China Do international policymakers yet grasp all the global consequences of China’s coming investment boom? By David Hale Who’s Who in China’s Economic Policy TIE’s biennial survey of the backroom power structure. Plus, a comprehensive who’s who of Washington’s top China watchers. U.S.-European Love Affair Forget the headlines. The money ties binding the world’s two largest economies are quietly strengthening. By Daniel Gross Europe Ten Years From Now What are the chances the structure of the European Union as we know it will still largely be the same? TIE asked eighteen distinguished experts. A symposium of views Preventing European “Enronitis” How European regulators are handling the spillover effects of Sarbanes-Oxley. By Klaus C. Engelen Bubble Bubble Mortgage Trouble Have the GSEs created a clear and present danger to the U.S. financial system, the economy, and the dollar? By Doug Noland New House Rules How the Feds are seeking to make the world safe for derivatives. By Christopher Whalen Ominous Signs After years of muscling and/or seducing, Fannie and Freddie face some challenges bigger than they ever expected. By Peter Wallison Development, Trade, and Democracy With international trade and aid reform stalled, the next President will have his hands full. There is a way, but is there a will? By William Antholis Is Continued Globalization of the World Economy Inevitable? What are the chances the globalization process of recent decades will be seriously obstructed or will actually begin to reverse? Thirteen experts offer their views. A symposium of views Reducing Poverty A blueprint for successfully concluding the Doha Trade Round. By William R. Cline