2020-05-13
The Misguided War on Global Value Chains
The COVID-19 pandemic has brought economies around the world to an abrupt halt and highlighted the fragility of existing global value chains. But demolishing these key drivers of international trade and investment would only make a bad situation worse.
2020-05-13
The Case for Deeply Negative Interest Rates
Only monetary policy addresses credit throughout the economy. Until inflation and real interest rates rise from the grave, only a policy of effective deep negative interest rates, backed up by measures to prevent cash hoarding by financial firms, can do t
2020-04-28
The International Order After COVID-19
At first blush, the coronavirus pandemic seems likely to corroborate the argument for deeper international cooperation to confront shared global challenges. But crises tend to intensify and accelerate preexisting trends – in this case, the rise of anti-gl
2020-04-26
Will Crashing Oil Prices Put American Energy in Its Coffin?
The fundamental reason is that the coronavirus pandemic has suddenly reduced demand by around 30 percent because we are not driving cars, not going to work, not manufacturing things in most factories, here and in much of the world.
2020-04-13
Will COVID-19 Remake the World?
No one should expect the pandemic to alter – much less reverse – tendencies that were evident before the crisis. Neoliberalism will continue its slow death, populist autocrats will become even more authoritarian, and the left will continue to struggle to
2020-04-12
Can Liberal Democracy Survive COVID-19?
Even if Western leaders manage to limit the COVID-19 outbreaks immediate fallout, it will mean little without forward-looking efforts to strengthen liberal-democratic systems from within. Such a failure would could well amount to handing China victory in
