In The News

Indonesia’s Joko Loses the Economic Plot

April 24, 2015
President Joko Widodo had campaigned with promises of economic reform and shared prosperity for Indonesians, yet the business community is concerned about a new wave of protectionist policies. The Asia Sentinel suggests that recent government policies contrast with a message relayed at a recent international conference that Indonesia welcomes foreign investment. “From moves to force banks and...

High Debt and Low Oil Prices Threaten Canada’s Globalized Economy

Vikram Mansharamani April 20, 2015
The world’s 11th largest economy does not rank among the world’s 30 most populous countries. Despite handily managing the global debt crisis after 2007, Canada’s economy is vulnerable. Volatility brought by globalization and interdependency may bear part of the blame, explains Vikram Mansharamani, a Yale lecturer and senior fellow at the Mossavar-Rahmani Center for Business and Government at the...

The Global Economy’s Bizarre Problem: Too Much Money

Matt Phillips April 16, 2015
After global recession struck in 2008, the US injected money into the economy to reduce interest rates and encourage lending. The US effort was described as successful and Japan and Europe soon followed. Overall, the global economy is still sluggish, economic uncertainty lingers. Companies, normally competitive, hesitate to expand or invest in research. Individual and corporate investors compete...

European Union Divided Over Greek Bailout

Chris Miller April 16, 2015
Fervent democracy at the national level is hampering monetary policymaking for the broader European Union in bringing quick end to the Greek debt crisis, explains Chris Miller, a Yale doctoral candidate and research associate at the Hoover Institution. Greek voters resent austerity measures imposed by the rest of Europe led by Germany, yet polls show that two thirds prefer staying in the eurozone...

IMF: Currency Shifts Support Global Economic Growth

Anna Yukhananov April 15, 2015
Fast-shifting currency rates, a result of countries injecting more money into their economies, pose volatility and risk, yet could boost the global economy, in particular Japan and Europe, reports the International Monetary Fund. The IMF “cautioned that the economic recovery remains "moderate and uneven," beset by greater uncertainty and a host of risks, including geopolitical tensions...

Russia’s Turbulence Could Drive Sustainable Development

Anastasia Okorochkova April 14, 2015
Falling oil prices and western sanctions have led to hard economic times for Russians. But lingering economic crisis can also allow a country new opportunity to regroup and reform, innovating and transforming the economy. Paradoxically, the long-running crisis could drive Russia to end its reliance on export of fossil fuels and embrace sustainability. “To do so, Russia must mobilize its...

The Power of the New China-Led Investment Bank

Richard Javad Heydarian April 13, 2015
The US “pivot” to Asia hit turbulence with a decision by the UK to join the China-led Asia Infrastructure Investment Bank as a founding member. Previously, the US had led an effort to boycott the AIIB among European allies and key allies in Asia-Pacific including Japan, South Korea, and Australia. Though officially based on doubts regarding the AIIB’s investment standards for governance,...