In The News

World Trade Uncertainty Index: IMFBlog

Hites Ahir, Nicholas Broom and Davide Furceri September 17, 2019
Uncertainty deters investment and slows economic growth, and the International Monetary Fund has introduced an index that attempts to measure trade uncertainty for 143 advanced and developing nations. The index relies on a search for words related to uncertainty and trade in the Economist Intelligence Unit country reports. “Globally, the trade policy uncertainty index is rising sharply, having...

YG Contributor: Immanuel Wallerstein, 1930-2019

September 4, 2019
Immanuel Wallerstein, a long-time contributor to YaleGlobal Online, died August 31, 2019, at the age of 88. He was also a member of the faculty of the Sociology Department at Yale. A prolific writer of many books and essays, he also developed world-system theory, suggesting the world has been caught up for centuries in a system of dominant and dependent nations and communities. “Wallerstein...

A Different Economy: Sydney Morning Herald

Ross Gittins September 2, 2019
Advanced economies no longer work the way they once did, and no one should expect a return to "normal" anytime soon. Economists disagree about the reasons. For now, governments and citizens must adjust to a new normal, explains Ross Gittins for the Sydney Morning Herald. Some Australian leaders prepare to adjust for declines in economic growth, productivity and interest rates. Australia...

How a Lifeline From China Changed Greece: Fortune

Vivienne Walt September 1, 2019
China’s investment in the historic port of Piraeus has lifted Greece’s economy and dampened populist opposition to foreign investment. “Situated at the edge of Athens – a short sail from the Middle East and Africa – the port has been a strategic jewel for nearly 2,500 years, ever since the Athenians and Spartans defeated the Persian emperor in a nearby sea battle for Mediterranean supremacy,”...

Compromise in Khartoum: Economist

August 22, 2019
Following a coup in Sudan and negotiations, the longtime leader is on trial for corruption. An economist leads the transitional government and elections are scheduled in 2022. Generals “signed the agreement only after coming under intense pressure from foreign powers,” reports the Economist, describing the new government made of five soldiers and six civilians. Many of the generals became wealthy...

The US Deficit Economy: Project Syndicate

Joseph E. Stiglitz August 12, 2019
The Trump administration is delivering shocks to the economy before experts can assess the consequences, suggests economist Joseph Stiglitz. All that is sure about the US economy is volatility and uncertainty. Reductions in the interest rate by the US Federal Reserve as central bank have little effect. “Long ago, John Maynard Keynes recognized that while a sudden tightening of monetary policy,...

Hong Kong Remains Important to China: Economist

August 12, 2019
Protests have paralyzed Hong Kong throughout the summer, putting China’s system of governance for the island into question. While the protesters’ numbers have fallen, the movement has expanded its demands and methods, including disruptions that have forced the Hong Kong airport to close. The protests may have dashed China’s vision for Hong Kong as an “‘economic’ city in which politics plays a...