From the Summer 2019 issue
What If There’s Another Financial Crisis?
Washington seems unprepared.
Is a Global Currency War Still Possible?
With the Trump Administration’s imposition of tariffs, the statecraft that led to the Louvre and Plaza Accords has all but collapsed. Will central banks, under pressure from their governments, respond with aggressive monetary policies designed precisely for the purpose of weakening their currencies with the hope of making their exports more competitive? How will U.S. policymakers respond if the dollar strengthens significantly? Will the end result be a twenty-first century currency war?
Featuring commentary by Anders Åslund, Dean Baker, Claudia Biancotti, Lorenzo Bini Smaghi, J. Alfred Broaddus, William R. Cline, Tim Congdon, Richard N. Cooper, Alejandro Díaz de León, Barry Eichengreen, Mohamed A. El-Erian, Heiner Flassbeck, Jason Furman, Joseph E. Gagnon, James E. Glassman, Richard C. Koo, Desmond Lachman, Catherine L. Mann, Thomas Mayer, David C. Mulford, Tadashi Nakamae, Jim O’Neill, Mark Sobel, Edwin M. Truman, Makoto Utsumi, William R. White, Marina v N. Whitman, and John Williamson.
Smithian Growth Versus Schumpeterian Growth
The preconditions for both are being globally obliterated.
What the Global Bond Market Is Telling Us
A tale of two markets.
Facebook’s Proposed New Currency
Libra’s promises and pitfalls.
The French president as master kingmaker.
Germany’s fade and the French ascendance.
U.S. trade deficits were caused not by American extravagance but by misaligned exchange rates.
Venezuela’s debt restructuring conundrum, Part III.
Martin Feldstein, the best of the economics profession.
The giant is now awake. America is fully aware of China’s ambitions. But now what?