Europe must realize nations matter more than the euro

Someone had to make the point to the EMU leading lenders and the troika that they can’t take away a country’s right to be itself. I explained in 2012 in these pages that the EMU has always been an inherently undemocratic enterprise led by the continent’s elites, and that a real resolution to the euro […]

New Emerging-Economy Development Banks Are Taking Off

The BRICS Development Bank has been launched. The Asian Infrastructure Investment Bank is taking off. Where is Nigeria? As a slate of long-term projections suggest, Nigeria’s huge economic potential requires huge determination.When Muhammadu Buhari took over from Goodluck Jonathan, he ran on a platform of security and zero patience to corruption. Those are the preconditions […]

The Beginning of the AIIB Epoch

The launch of the Asian Infrastructure Investment Bank heralds a new era in which international multilateral institutions are no longer owned, controlled and operated by advanced economies alone. For years, the G7 nations have pledged substantial governance reforms in international multilateral institutions, such as the International Monetary Fund, the World Bank and the Asian Development […]

Why a Selective Default Does Not Mean Grexit

Confusion reigned supreme in the euro area over the weekend. The decision of the Greek government to call for a referendum over the terms of the programme, needed to unlock money for the IMF debt repayment due on Tuesday, plunged the euro finance ministers into despair, while they fought a deal was very close. It […]

Recalibrating the ‘Pivot to Asia’: Behind the 7the Sino-US Strategic & Economic Dialogue

In the recent S&ED between China and the U.S, the most intriguing developments involved not just the formal bilateral progress, but those undercurrents that illuminate the potential future of the dialogue After months of diplomatic friction over the South China Sea, both sides acknowledged an easing of tension in the run-up to the seventh meeting of […]

Recalibrating the ‘Pivot to Asia’: Behind the 7the Sino-US Strategic & Economic Dialogue

In the recent S&ED between China and the U.S, the most intriguing developments involved not just the formal bilateral progress, but those undercurrents that illuminate the potential future of the dialogue After months of diplomatic friction over the South China Sea, both sides acknowledged an easing of tension in the run-up to the seventh meeting of […]

Greek Tale(s)

No matter what new twist the Greek debt crisis takes, there can be no question that it has been a catastrophe for that country and for the entire Eurozone. The Greek economy contracted by over a quarter during the period of 2007 to 2013, the largest decline of any advanced economy since 1950. The Greek unemployment rate […]

China’s $10 Trillion Market Explosion

Not so long ago, China’s A-share index lingered around 2,000. Before last week’s plunge, it closed at 5,200. In the short-term, the market will remain volatile, but just as China’s economy hasn’t emulated typical market fluctuations, its potential should prevail in the long term. Recently, the value of Chinese stocks climbed over $10 trillion for […]

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