Five years ago, President Xi Jinping unveiled the Belt and Road Initiative, a vast investment scheme designed to pave China's transition to great power status. Instead, it has become a roller coaster Beijing is struggling to control.
Let’s hope the administration understands the limits of its high-risk tactics and is closely monitoring the potential for spillovers. Vulnerable economies may not be the only ones disciplined by financial markets.
July 30, 2018
| Mark SobelWhile the fund may have helped maintain a semblance of macroeconomic stability, the IMF’s involvement, along with the World Bank and others, has surely not helped Pakistan break out of a low-growth trap.
July 26, 2018
| Jonathan E. Hillman, Matthew P. GoodmanThe strategically located country on the Horn of Africa may gift control of the terminal to Chinese companies, which inaugurated a free trade zone in the same area earlier this month.
July 12, 2018
| Mark SobelThe Group of Twenty (G20) and the International Monetary Fund (IMF) for several years have committed to complete work on an IMF quota review by the spring of 2019 and no later than the fall of 2019.
Late last Friday, the Treasury Department released its semiannual report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States, better known as the FX Report. As one long-time observer of the report commented, it was "written to...
A positive U.S. economic vision would help counter falling expectations. It would also push back against China’s attempts to fashion itself as a champion of global openness in the absence of U.S. leadership.
100 years ago this month, the Spanish influenza ignited. It would ultimately kill 50 million and bypass armies, health defenses, and geographic barriers in the process. Within this dark chapter of history are important lessons for the world of 2018.