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Barry Eichengreen
For Barry Eichengreen's latest contributions to The Japan Times, see below:
The world needs to avoid the mistakes and pitfalls that go with providing debt relief and should craft sustainable solutions for financially distressed nations. 
COMMENTARY / World
Mar 1, 2024
Developing countries’ never-ending debt crisis
Creditors have a role in resolving debt crises. This means all eyes are on China, which is the single most important creditor for debt distress.
Japan Times
COMMENTARY / World
Jul 13, 2023
Russia and the long shadow of Versailles
Garnishing Russia’s frozen assets to help finance Ukraine's reconstruction would give the Kremlin a powerful propaganda tool with which to paint Russia as the victim.
Japan Times
COMMENTARY / World
Jun 22, 2023
Making development bank lending safe for poor countries
The Macron Summit on global financing will seek to enhance fragile economies’ access to the funds needed to cope with development challenges.
Japan Times
COMMENTARY / World
May 15, 2023
Winners and losers in the artificial intelligence arms race
Technological change always creates winners and losers, but artificial intelligence such as ChatGPT has the potential to create more of the former than the latter.
Japan Times
COMMENTARY / World
May 4, 2023
The SVB debacle and a bank 'murder mystery'
As long as there are banks, there will always have bank failures, which is why regulators are needed to draw the right lessons from the SVB debacle.
Japan Times
COMMENTARY / World
Mar 26, 2023
What it will take to reshape the global monetary order
Why isn't diversification from the U.S. dollar toward the Chinese yuan visible in data on foreign reserves and international payments?
Japan Times
COMMENTARY / World
Jan 23, 2023
ChatGPT and sympathy for the algorithm
The year 2022 will be seen as when artificial intelligence gained street credibility with the release of ChatGPT, a new AI chatbot.
Japan Times
COMMENTARY / World
Nov 21, 2022
Who should coordinate Ukrainian reconstruction?
The more entities involved in reconstructing Ukraine the better. The effort cannot be financed by a single or even a small handful of sources.
Japan Times
COMMENTARY / World
Jul 13, 2022
Boris Johnson leaves behind a sterling mess
Investors appear to view the British pound more like the currency of a troubled emerging market than of a stable advanced economy.
Japan Times
COMMENTARY / World
Jun 17, 2022
Economic consequences of a Ukraine peace
It seems wrong to ask the U.S. and Europe to repair what Russia has broken. So, it is tempting to suggest that Ukraine's reconstruction should be financed by garnishing Russian assets.
Japan Times
COMMENTARY / World
May 13, 2022
Shaping a Marshall Plan for the rebuilding of Ukraine
The Marshall Plan provided Europe with the funds not only to rebuild itself, but also to leapfrog a generation technologically. Ukraine's reconstruction offers a similar opportunity.
Japan Times
COMMENTARY / World
May 1, 2022
Europe’s economy on a knife edge
Europe's recovery from the damage caused by COVID-19 was solidifying. But now European policymakers have exactly zero control over whether their economies' rebound continues.
Japan Times
COMMENTARY / World
Mar 16, 2022
The monetary consequences of Vladimir Putin
Having witnessed the financial shock and awe or Russia's invasion and the subsequent sanctions, other countries will likely re-think how and where they hold their foreign assets.
Japan Times
COMMENTARY / World
Feb 9, 2022
COVID-19 submerges emerging markets
One reason to be skeptical of the rosy consensus on emerging markets is that COVID-19 has spurred accelerated automation in advanced economies, making them less attractive for manufacturers.
Japan Times
COMMENTARY / World
Aug 16, 2021
Will central bank digital currencies doom dollar dominance?
CBDCs are coming, but they won't change the face of international payments and they won't dethrone the dollar.
Japan Times
COMMENTARY / World
Jul 26, 2021
The stablecoin illusion
Stablecoin stability is an illusion. They are unlikely to replace Federal Reserve money, revolutionize finance or realize the dreams of their libertarian enthusiasts.
Japan Times
COMMENTARY / World
Jul 7, 2021
The logic of effective climate action
The China shock gave us Donald Trump. A carbon tax, imposed willy-nilly, could result in even worse.
Japan Times
COMMENTARY / World
May 29, 2021
Will the productivity revolution be postponed?
Scientific advances — epitomized by the rapid development of RNA-based COVID-19 vaccines — are the most fundamental reasons for optimism.
Japan Times
COMMENTARY / World
Mar 31, 2021
Who needs a digital dollar?
The idea of a digital dollar has been in the air for some time now. Recently, it descended from the ether to the lips of U.S. Treasury Secretary Janet Yellen and Federal Reserve Chair Jay Powell. At an event in February, Yellen flagged the idea as “absolutely worth looking at,” adding that the Federal Reserve Bank of Boston, in conjunction with academics at MIT, was already doing so. In Congressional testimony the following day, Powell called a digital dollar “a high priority project for us.”
Japan Times
COMMENTARY / World
Dec 13, 2020
The COVID-19 debt dogs that didn’t bark
The expected financial tsunami crisis never arrived. Just six countries have defaulted on their sovereign debt, and only Argentina and Ecuador have restructured their debts.

Longform

Yayoi Kusama’s “Pumpkin,” once the victim of high waves that dragged it into the sea, sits at the end of a pier on the south side of Naoshima.
Why is the most exciting art in Japan so hard to get to?