The global economy thrives on globalization and the increasing interdependence of finance, production, consumption and trade. Such integration has reduced poverty, yet varying national policies along with ever-increasing speed of transactions and market news have also contributed to imbalances, both among nations and within. Regulations often do not keep pace in managing cross-border debt, foreign direct investment, corporate practices, tax codes or economic bubbles. The eurozone crisis and the US subprime mortgage crisis have demonstrated that one nation’s problems and panic can spread like wildfire. Nations must combine a competitive spirit with cooperation to achieve stable economic growth and sustainable prosperity.

America’s Role as Consumer of Last Resort Goes Missing

The US may be the most improved industrial economy of 2013
Simon Kennedy
December 16, 2013

How to Avert Another Debt-Ceiling Crisis

The threat of default prompts search for alternative financing
James Leitner, Ian Shapiro
November 15, 2013

The Perils of Falling Inflation

Central bankers in EU and US must battle sinking inflation and sluggish job growth
November 12, 2013

The Danger of High Home Ownership: Greater Unemployment

Home-ownership subsidies may backfire, reducing jobs and worker mobility
David G. Blanchflower and Andrew J. Oswald
November 4, 2013

Which Asian Century?

Leaders can promote economic prosperity or regional tensions
Richard N. Haass
October 30, 2013