An Important Step for China and the World

On 30 November the Board of the IMF decided to include the Chinese RMB in the Special Drawing Rights (SDR) basket from 1 October 2016. SDR is the unit used in transactions between IMF member states and the Fund. RMB will thus become the fifth currency in this basket of global reserve currencies, joining the […]

Renminbi as the 5th International Reserve Currency

Renminbi as the 5th International Reserve Currency

photo: Jason Howie If the IMF will endorse the renminbi as a new international reserve currency, the repercussions will be global and historical. Recently, the International Monetary Fund’s staff and its chief Christine Lagarde suggested that the yuan should join the basket of international reserve currencies (the Special Drawing Rights, or SDR). The inclusion is expected […]

Corporate ‘Venturing’ Is Producing Tangible Social Impacts

Corporate ‘Venturing’ Is Producing Tangible Social Impacts

Companies are beginning to understand that they are uniquely positioned to scale up proven solutions to social and environmental problems, and that they have a role in addressing the challenges associated with poverty. The private sector played a key role in developing the recently launched Sustainable Development Goals (SDGs), and companies are working to align their […]

Ten Questions for the Global Economy

Ten Questions for the Global Economy

photo: Nicolas Raymond Key takeaway – The fundamental structure of the world economy is changing. While the contribution of services to global output is on the rise, investment and productivity remain stagnant, savings keep accumulating, and growth and inflation decline. Meanwhile, globalization has increased co-dependence: a rising number of countries can influence the world’s economic performance […]

Emerging Markets Attract Record $126 Billion in Clean Energy Investment

Emerging Markets Attract Record $126 Billion in Clean Energy Investment

photo: Peder Sterll With climate change an increasing concern, clean energy technologies are an attractive alternative. What’s more, development of these new, low-carbon technologies—including biomass, geothermal, hydro, solar, and wind—can help reduce poverty in developing countries and enhance their energy security. In this context, a new report has some encouraging news: new investment in clean power […]

Dilemmas, Trilemmas and Difficult Choices

Dilemmas, Trilemmas and Difficult Choices

photo: Fr Lawrence Lew, O.P. In 2013 Hélène Rey of the London Business School presented a paper at the Federal Reserve Bank of Kansas City’s annual policy symposium. Her address dealt with the policy choices available to a central bank in an open economy, which she claimed are more limited than most economists believe. The subsequent debate reveals […]

APEC 2015: Change Is in the Air

APEC 2015: Change Is in the Air

Despite diplomatic missteps, APEC 2015 could pave way to regional peace and development. The triangular perspectives of Washington, Beijing and Manila tell the story. -Dan Steinbock Washington’s exclusive policies In Washington’s view, President Obama’s presence in the Asia Pacific Cooperation (APEC) Summit was vital to underscore America’s sustained commitment to the region. With its recovery, […]

Why the Real Shadow Banking Risks Are in the US and Europe, Not Just China

Why the Real Shadow Banking Risks Are in the US and Europe, Not Just China

photo: Billy Wilson “The world’s shadow banking has returned to the high levels of the 2008-9 global crisis. While international concerns focus on China’s shadow banking, new data shows that the largest risks are by far in the United States, Europe, the UK and Japan.” -Dan Steinbock  In August, the Financial Times reported that 11 Chinese shadow banks […]

Peyton’s Arm Strength Over Time

Peyton’s Arm Strength Over Time

photo: Jeffrey Beall A friend said something the other night about Peyton Manning that I wanted to test. He said that as an older QB, Peyton’s arm strength decreases over the season. So I went to the data to try and determine if there was a trend in the data to support this. The metric […]

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