Commentary / World Nov 28, 2016

Trumping the international monetary system

Market optimism about U.S. growth could lead to ever-larger imbalances and possibly disrupt the international monetary system.

Commentary / World Aug 31, 2016

The making of a Chinese consumer society

China's transformation into a consumer society is good news for the future of the global economy.

Commentary / World Mar 6, 2016

China and the lonely fight it's waging against deflation

The battle over the renminbi's exchange rate reflects growing tension between the interests of the "financial engineers" (such as the managers of dollar-based hedge funds) and the "real engineers" (China's policymakers).

Commentary / World Dec 22, 2015

The CCP's daunting institutional challenges

China's leaders must cope with an asymmetry between what they can deliver and what consumers demand.

Commentary / World Sep 28, 2015

China had better avoid global debt-deflation trap

China now faces the same debt-deflation challenge that much of the rest of the world must address. The question, of course, is how.

Commentary / World Jul 24, 2015

China's live stress test yields valuable lessons

China's economy has succeeded through trial and error, and the lessons of its current stress test should be viewed as part of that process, to be used to drive the next phase of economic reform.