Since weak demand is at the heart of the recession, governments need to enact stimulus programs along with structural reforms, argues Menzie Chinn. Structural reforms don’t always work out, writes Karl Smith. Raghuram Rajan demurs.
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Until now, the U.S.-China policy has been driven by a blend of engagement and balancing. The Obama administration’s concentration on ‘engagement’ has done nothing to halt Beijing’s military build-up. The next administration should work towards bolstering the ‘balancing’ half of Washington’s strategic equation.
To leave behind a stable government in Afghanistan in 2014, the U.S. needs to work towards electoral reforms, negotiations with the Taliban, and a regional settlement involving Pakistan.
C. Raja Mohan says Indians watching how the U.S. presidential race shapes up shows a growing appreciation of how political developments within the United States can affect Indian interests. He answered questions on a variety of subjects involving India-U.S. relations in this interview with Bernard Gwertzman.
The Western sanctions imposed on Iran to force it to abandon its nuclear programme have succeeded in bringing Tehran back to the negotiating table, but they are a tactic, not a strategy. Any long-term policy has to aim for a democratic Iran.
Over the past thirty years, the U.S. and Iran have been at odds over Iran's alleged nuclear weapons programme. India too has a large stake with both countries - with the U.S. as a strategic partner and Iran for its oil imports - and resolving this conundrum will require some creative diplomacy.
The emerging BRICS economies agree that the West should hold less sway in the global economy. But their leaders, despite regular summits, have failed to articulate a coherent vision because of divergent interests, says journalist Martin Wolf.
Alongside the 2012 BRICS Summit in Delhi, this special publication is a collection of articles that addresses important issues of the global agenda, the priorities of BRICS, the policies and competitive advantages of the participants, as well as BRICS institutionalization.
As Indonesia hosts a number of high-level summits this year, it looks set to take its place among the world’s economic superstars. But celebrations are premature: although Indonesia has made great strides, its gains are reversible. To continue to prosper, Jakarta must address rampant corruption and poor governance
Is China poised to take over from the United States as the world’s leading economy? Yes, judging by its GDP, trade flows, and ability to act as a creditor to the rest of the world. In fact, China’s economic dominance will be far greater and come about far sooner than most observers realize.