• OPINION

  Why sanctions against Russia are failing

  Oped, Published on 23/01/2024

  » When bilateral talks fail to resolve disputes between sovereign countries, aggrieved parties may turn to an international judicial body, such as the International Court of Justice in The Hague. Alternatively, treaties or agreements often incorporate provisions for arbitration or mediation of disputes by a pre-designated entity.

• OPINION

  Debtors rock but creditors may not roll

  Oped, Published on 26/12/2023

  » In its latest World Economic Outlook, the International Monetary Fund (IMF) reported that a rising share of countries -- 56% of low-income countries and 25% of emerging markets -- are "in or at high levels of debt distress".

• OPINION

  The risks that are threatening India's rise

  News, Published on 23/11/2023

  » A few decades ago, India was a relatively minor player on the world stage. Despite its size and vast population, it grappled with what became pejoratively known as the "Hindu rate of growth," with GDP increasing at a tepid annual pace of 4%, or 2% per capita from 1947, when it gained independence, until the 1980s.

• OPINION

  Addressing the great debt conundrum

  Oped, Published on 30/09/2023

  » The exponential growth of international capital flows, predominantly in the form of debt, has been one of the great development successes of the past 50 years. But while foreign lending has played a pivotal role for developing economies, loans are a two-edged sword. When used judiciously, they can generate high returns, boost GDP growth, and improve the well-being of borrower countries. But if debts accumulate and the debt-servicing burden increases without a commensurate increase in repayment capacity, the consequences can be severe and even disastrous.

• OPINION

  Biden has done very little for the US economy

  Oped, Published on 25/08/2023

  » To the dismay of many economists, US President Joe Biden's administration has retained most of its predecessor's tariffs and trade barriers. In fact, contrary to most analysts' expectations, the United States has imposed additional protectionist measures, such as Mr Biden's "buy American" policies, resulting in higher costs for American consumers and taxpayers.

• OPINION

  Why is America undercutting the Japanese?

  Oped, Published on 26/07/2023

  » Until 2017, America's trade policies were reasonably well aligned with its strategic objectives. The US was the world's largest economy, with unrivalled military power, and its alliances with European countries and others bolstered security and underwrote prosperity for all. It also provided global leadership through bodies like the World Trade Organization, ensuring a common rule-of-law framework to support economic growth and cross-border exchange around the world.

• OPINION

  A world of debt is in need of more flexibility

  Oped, Published on 30/05/2023

  » Recent headlines seem to augur a global debt crisis. The US is teetering on the precipice of a self-inflicted default. Egypt, Ghana, Pakistan, and other countries face grave financial difficulties. And the Chinese are delaying or hampering multilateral efforts to restructure low- and middle-income countries' debt.

• OPINION

  US's semiconductor subsidy is counterproductive

  Oped, Published on 06/04/2023

  » Last year's US CHIPS and Science Act created large subsidies for investments in domestic semiconductor fabrication facilities (fabs) because microchips are essential to the US economy and national security. But while no one disputes the importance of chips (which are used in everything from cruise missiles to refrigerators), there are serious questions about whether subsidising such investments is the best way to secure a reliable supply.

• OPINION

  Multilateralism is still the best course of action

  Oped, Published on 25/02/2023

  » The great statesmanship and leadership that the United States showed during and after World War II is well known. America was the world's preeminent political, economic, and military power, and instead of using its position to penalise the losers and demand reparations, it helped plan and found multilateral global-governance institutions that would give all countries a seat at the table.

• OPINION

  China and the sovereign-debt time bomb

  Oped, Published on 24/01/2023

  » International capital flows have long been a major source of economic growth. Savings in higher-income countries have financed high-yielding investments in low-income countries, generating benefits for all. After World War II, capital flows under the Marshall Plan drove the rapid reconstruction of Europe, and after those countries recovered, they extended their own foreign aid and other official financial flows to the developing world. Private financing also increased substantially; by the 1990s, it accounted for over half of total capital flows to developing countries.

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