In The News

China’s Global Governance Challenge

Stephen S. Roach June 9, 2015
China is preparing for a broader role in leading Asia on economic development and world affairs. The nation has long been an active member of global organizations including the United Nations, the World Trade Organization and others, and now is “engaged in global institution building of its own” with the Asia Infrastructure Investment Bank, or AIIB, writes Stephen S. Roach, author, former...

Nepal Earthquake: Prelude to Bigger Disaster?

Alark Saxena June 2, 2015
A 7.8 magnitude earthquake struck Nepal on April 25, killing 8,800, injuring thousands more and leaving many homeless. The quake and series of aftershocks also left property damage and devastated communities. International relief agencies rushed to the scene, but researchers warn that such disasters are inevitable for the entire Hindu Kush Himalayan region with the continuous sinking of the...

How Politics Will Seal the Fate of Greece

Philip Stephen May 25, 2015
The crisis in Greece increasingly centers around politics even as the economy continues to struggle, frustrating other members of the European Union and contributing to uncertainty for global investors. Many investors and politicians are planning for how they might proceed should Greece leave the European Union. Writing for the Financial Times, Philip Stephen notes: “the rest of the eurozone has...

Global Banks Admit Guilt in Forex Probe, Fined Nearly $6 Billion

Karen Freifeld, David Henry and Steve Slater May 21, 2015
Six major banks agreed to pay fines near $6 billion for the varying roles of their traders roles in alleged manipulation of foreign exchange rates. “In total, authorities in the United States and Europe have fined seven banks over $10 billion for failing to stop traders from trying to manipulate foreign exchange rates, which are used daily by millions of people from trillion-dollar investment...

Bigger, Deglobalizing World May Be Hostile for Investors

James Saft May 8, 2015
Much of the world is trying to put a pause on global trade, immigration and other means of integration and globalization. The global credit crisis triggered the trends: “De-globalization is the partial unwinding of the long-running shift to arrangements that allow capital, goods and services to move more freely around the world,” writes James Saft. He describes evidence of resistance to...

The Dollar Joins the Currency Wars

Nouriel Roubini May 6, 2015
Countries want to export more than they import and promote growth and employment. More than 20 central banks around the globe have eased monetary policy, reducing the value of their currencies to make exports more attractive, explains economist Nouriel Roubini for Project Syndicate. He notes that trade and lending imbalances are growing. “The dollar has also risen relative to currencies of...

Economic Policy Turned Inside Out

Stephen S. Roach May 4, 2015
Unsustainable economic imbalances combined with financial engineering to reduce interest rates and currency values, could threaten the global economy, suggests economist Stephen S. Roach, a senior fellow at Yale University’s Jackson Institute of Global Affairs. The essay focuses on Japan’s struggle since 1985 to revive its economy by relying on monetary policy. In 2002, the US Federal Reserve...