In The News

Facebook’s Libra: Project Syndicate

Katharina Pistor June 24, 2019
Corporations are increasingly eager to resume control over traditional government responsibilities. The latest example: Facebook released a white paper on plans to develop a borderless cryptocurrency system with a group of central banks, regulators and 27 partner companies. Facebook along with Uber, Lyft, Visa, PayPal, Mastercard, eBay, and other firms – but not commercial banks – are...

US Dollar Could Lose Special Standing: CNBC

James McCormack June 18, 2019
The US dollar may eventually lose its standing as the world’s leading reserve currency due to protectionist policies, including sanctions and tariffs, as well as policy decisions abroad. “The primary reasons for the dollar’s continued dominance are inertia and the lack of viable alternatives, neither of which U.S. policymakers should find comforting for the longer term,” explains James McCormack...

The US as Economic Bully? Wall Street Journal

Gerald F. Seib May 14, 2019
The United States is the world’s largest economy in nominal terms and also the largest market. But flexing economic muscle could chase other major economies like China and the European Union to pursue their own partnerships. Under the Trump administration, the United States has applied economic leverage on China, Mexico, Canada, Europe, Iran, North Korea and Venezuela. “The weapon works, at least...

China, Japan, Asian Century: China Economic Review

Tomoo Kikuchi and Masaya Sakuragawa February 8, 2019
Asia’s contributions continue to gain weight in the global economy. China and Japan are the world’s second and third largest economies, respectively. India, South Korea and ASEAN members also provide substantial contributions. All benefit from free trade, explain Tomoo Kikuchi and Masaya Sakuragawa, but trade and growth have slowed. “China and Japan should pursue greater cooperation on a number...

Asia-Pacific Journal Japan Focus: China’s BRI Goals

John A. Mathews January 2, 2019
China’s Belt and Road global investment strategy is financing more than $1 trillion in infrastructure development in more than 70 nations. The initiative, global in scope, is a response to the US “pivot to Asia” announced under the Obama administration, “carefully and astutely crafted to take advantage of moves by the US as the current hegemon,” explains John A. Matthews for the Asia-Pacific...

Project Syndicate: The Blockchain Lie

Nouriel Roubini October 25, 2018
The bubble has burst for Bitcoin and other cryptocurrencies, and economist Nouriel Roubini argues that such techno-currencies and the related blockchain distributed ledger software are over-hyped and not useful. He insists that investors find more security holding real money widely recognized by governments. “In practice, blockchain is nothing more than a glorified spreadsheet,” Roubini writes...

OilPrice.com: Iran Sanctions Damage US Dollar

Nick Cunningham September 20, 2018
The United States withdrew from an international deal that contained Iran’s nuclear program and then reimposed sanctions. Oil traders rely on US dollars. “The role of the greenback in the international financial system is the reason why the U.S. can prevent much of the world from buying oil from Iran,” explains Nick Cunningham for OilPrice.com. “European policymakers have scrambled to try to...