Courtesy: Foreign Affairs
As Europe emerges from economic crisis, a larger challenge remains: finally turning the eurozone into an optimal currency area, with economies similar enough to sustain a single monetary policy. Getting there will be difficult and expensive, but the future of European integration hangs in the balance.
Courtesy: Foreign Affairs
The author explains in detail the functions of the World Bank and how it has evolved over the years. He also argues that while the bank has adapted to shifts in economic influence and the rise of emerging markets, it must become even more innovative and representative.
Courtesy: Foreign Affairs
China seems to want the yuan to dethrone the dollar as the global reserve currency. But don’t expect China’s currency to take over anytime soon. The yuan will rise, but far slower than predicted, and Beijing’s puzzling efforts to help it along reveal flaws in the government’s divided and incremental approach.
Courtesy: Foreign Affairs
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
Courtesy: Foreign Affairs
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.
Courtesy: Foreign Affairs
In 2001, fearing ethnic strife, the international community pushed for a strong central government in Kabul. But such fears fostered a system of regional and ethnic patronage. To correct matters, the U.S. should de-emphasize Afghanistan’s ethnic fault lines and push for more devolved and inclusive governance.
Courtesy: Foreign Affairs
Henry Kissinger's new book argues that the United States should yield gracefully to China's rise; Aaron Friedberg's gives the opposite advice. By focusing on intentions instead of capabilities, both books overstate China's actual power.
Courtesy: NilgunGulcan/WikimediaCommons
The AKP’s reaction to this spring’s uprisings in the Middle East seemed haphazard at times. But a closer look reveals that the party was actually learning to balance hard regional interests with its stated values – as all major powers must do.
Courtesy:
Pakistan is unlikely to collapse anytime soon, but the imbalance of power between its civilian and military branches needs to be addressed if it is to become an effective modern state. Washington must stop coddling Pakistan’s military and instead work patiently to support the country’s civilian authorities.
Courtesy: Maher27777/Wikipedia
What are the implications of the political unrest in the Middle East and North Africa on the global oil market?