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There is no such thing as “international terrorism”. To declare war on “international terrorism” is nonsense. Politicians who do so are either fools or...
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Structural change and rebalancing are formidable undertakings for any economy. China has been focused on these objectives for five years – seeking to transform...
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Financial regulators are generally known for taking a measured and cautious approach to change. But in the developed world, that reputation is being turned...
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If one were seeking a perfect example of why it’s so hard to make financial markets work well, one would not have to look...
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As the world comes to terms with the wider implications and consequences of the terrorist atrocity in Paris, an important story risks being lost...
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Stubbornly low inflation has the European Central Bank worried. But its response – essentially just more quantitative easing – could backfire, exacerbating imbalances and...
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For a long time, as a college professor and then as the chief economic adviser to the Indian government, I was a happy user...
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For much of the year, investors have been fixated on when the Fed will achieve “liftoff” – that is, when it will raise interest...
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Every advanced country has a bankruptcy law, but there is no equivalent framework for sovereign borrowers. That legal vacuum matters, because, as we now...
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EVERY TIME you think we have reached the limit, something else pops up and the limit moves. One might have thought that the...