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.
For Barry Eichengreen's latest contributions to The Japan Times, see below:
Biden now, like FDR then, must reiterate his message of hope and unity as an antidote to the coronavirus and political division.
Policymakers must take the right steps to ease the transition to the world being created by COVID-19.
Racial disparities in the impact of the COVID-19 crisis are fueling the U.S. protests.
Suspending developing economies' debt didn't work in the 1980s and it won't work now.
The effectiveness of macroeconomic tools are limited in the battle against the pandemic.
Amid much discussion of the challenges facing the Chinese economy, the lineup of usual suspects typically excludes the most worrying scenario of all: popular unrest.
The remedy for the financial woes of people in developing countries isn't going to come from Facebook.
Global economic, financial and political stability depends on outcomes in four areas.
The U.S. and China have very different views of what they had signed up for in the truce.