International Selection

The price of gas must be increased substantially, subsidies for domestic coal production must be stopped, and governance of the country’s pipelines must be overhauled. A column by Daniel Gros.

Michael Pettis, finance professor at University Beijing, explains why President Xi has to consolidate power quickly and why there will be no financial crisis.

The government now stresses three macroeconomic goals – job creation, price stability, and GDP growth. The current emphasis is in that order, with GDP growth at the bottom of the list. A column by Stephen S. Roach

The IMF has the great advantage of being perceived as boring. Unfortunately, it now needs a slightly higher public profile to convince the US Congress to agree to some important reforms. A column by Simon Johnson.

Successful political systems create an alternative «invisible hand» – a decentralized system to gather information. Lacking such structures, poverty is bound to rise. A column by Ricardo Hausmann.

If advanced economies are to prosper, it is necessary (though not sufficient) that the corporate sector’s willingness to invest match its considerable wallet. A column by Mohamed A. El-Erian.

The proliferation of calls for devolution, secession, and independence is but one manifestation of a tectonic shift. A column by Michael J. Boskin.

James Montier, member of the asset allocation team at Boston-based GMO, has a hard time finding attractively valued assets these days. His advice to investors: Cash – and lots of patience.

The Federal Reserve and the FDIC should move immediately to force the megabanks to become much simpler legal entities. A column by Simon Johnson.

Paul De Grauwe, Professor of Economics at the London School of Economics, says that European politicians are in a state of denial.

The really important target for any country starting an adjustment program with a double-digit current-account deficit must be export growth. Missing this target is what sets Greece apart. A column by Daniel Gros.

Recently published transcripts of 2008 meetings of the Federal Open Market Committee reveal that the Fed has effectively emerged from the crisis as the world’s central bank. A column by Harold James.