Michael Spence

For Michael Spence's latest contributions to The Japan Times, see below:

May 26, 2014

New digital technology wave replacing labor

People scrambling to keep up with digital technologies need to know that the world we are entering is one in which the most powerful global flows will be ideas and digital capital — not goods, services and traditional capital.

Apr 28, 2014

Tradable gains in Spain rain hope for recovery

Though domestic investment is constrained by credit availability, major European and Latin American multinationals have begun investing in the Spanish economy, attracted by its enhanced competitive posture, structural flexibility and recovery in domestic demand.

Dec 30, 2013

The distributional challenge

Assessing the recent past and looking forward to the near term may well be a necessary exercise when it comes to the global economy in 2013 and 2014.

Oct 21, 2013

America's reckless financial policy

The U.S. pattern of decision making (or nondecision making) on debt deadlines has already created additional risk and will surely be reflected in upward pressure on interest rates.

Aug 5, 2013

End of China's exuberance

Chinese authorities' acceptance so far of a slowdown in economic growth is a good sign of investment opportunities ahead that were absent in the more exuberant past.

May 29, 2013

The Sino-American decade

Beyond the bilateral benefits, the rest of the global economy depends on Chinese and U.S. leadership — in terms of growth and global economic coordination.