The magazine of international economic policy.


The Enemy Is Us

The gravest threat to American global leadership is neither Russia nor China but continued interest group-driven Congressional abandonment of the kind of balanced strategy that won the Cold War.

By William H. Overholt

Does the Industrialized World’s Economic and Financial Statecraft Need to Be Reinvented?

The world’s post-war economic and financial institutions— including the International Monetary Fund and the World Bank, the Bank for International Settlements, and the regional development banks—seem to be suffering a crisis of credibility. Is this claimed loss of credibility exaggerated? If not, is the damage reparable? How can the statecraft be reinvented?

Nearly twenty international policy strategists offer their views, including Anders Åslund, Jörg Asmussen, Martin Neil Baily, William E. Brock, Bernard Connolly, Richard N. Cooper, Marek Dabrowski, Richard D. Erb, Thomas Ferguson, Jeffrey E. Garten, Richard Jerram, Richard C. Koo, Chong-Pin Lin, Edward N. Luttwak, Ewald Nowotny, Alex J. Pollock, Miroslav Singer, and Marina v N. Whitman.

A symposium of views

Back to the Drawing Board

In retrospect, implementing the G-20’s IMF reform package would have been a mistake.

By Desmond Lachman

The Unthinkable as the New Normal

The international economic organizations established after World War II have destroyed their credibility.

By Klaus C. Engelen

Understanding Economic Statecraft

Two new analytical studies offer important insights.

By Norman A. Bailey

The Fed and Its Critics

Both ends of the political spectrum take aim.

By John M. Berry

The Myth of Currency Manipulation

The Bergsten/Schumer/Portman theory is wrong.

By Richard Katz

Clouded Destiny

How Hong Kong is losing its edge.

By Friedrich Wu, Philipp Martin Dingeldey, and Wan Tin Wai

How Russia Survived Sanctions

And why parallel avenues for diplomatic engagement are vital.

By Vidhya Logendran

Off the News

Ugly European Facts, ugly China facts, ugly world facts, and Norman Bailey on debt relief negotiations.

From the Founder

Is China’s New AIIB a Clever Ploy?

By David M. Smick