The G20 Debt Service Suspension Initiative, although a partial success, has been dogged by competing interests and lack of coordination. A further push is needed to solve the coordination problem.
Ever since the 2008 financial crisis, central bankers have been busy developing new policy instruments to fight fires and ward off emerging threats. Nonetheless, many secretly dreamed of returning to the good old days of cautious conservatism (with financial stability taken seriously).
The concept of competitive neutrality can be used to assess how far a market is from being a competitive environment. In China, competitive neutrality is lacking, with state-owned firms favoured in most sectors, even over Chinese private firms.
Aiming for 'green zones' offers a clear path to navigate an exit from the pandemic with as little damage as possible. Europe should not miss the opportunity to build on its strength and unity.
The COVID-19 pandemic has prompted an increasing number of rich-country firms to reduce their reliance on global supply chains and invest more in robots at home. But it is probably too soon to tell whether this switch will increase productivity growth in advanced economies.
Even if a sovereign debt crisis is avoided, the public debt burden will negatively impact growth.
Assessing CBAM from a trade perspective.
It is hard to imagine how either the EU or the US can do better on the big issues if they pursue their interests separately.
An examination of China’s participation in the World Trade Organization, the conflicts it has caused, and how WTO reforms could ease them.
How can friends of the multilateral system re-engage the United States under President-elect Biden?
The Comprehensive Agreement on Investment (CAI) is supposed to improve market access for European companies operating in China and to ensure a level playing field, as well as reciprocity. Does it fulfil such expectations?
The appearance of new strains of the coronavirus in the United Kingdom, South Africa, and Brazil has given the world no choice but to design and implement a comprehensive global strategy. So, what's stopping that from happening?