Showing 1 - 10 of 10
US fiscal state is everyone's issue
Oped, Published on 28/05/2025
» As Donald Trump's "big, beautiful" tax bill heads to the US Senate, investors everywhere are growing increasingly uneasy. On May 16, the credit-rating agency Moody's downgraded US sovereign debt from its long-held triple-A status to Aa1 -- following similar decisions by Standard & Poor's (in 2011) and Fitch Ratings (2023). Given the sheer volume of US debt -- which now stands at $36 trillion, or 124% of GDP -- and rising interest costs, these institutions have concluded that US debt metrics are no longer in line with those of similarly rated sovereigns.
Sanctions need global governance
Oped, Published on 12/04/2024
» As Russia's war against Ukraine has entered its third year, Western governments are finding it increasingly difficult to muster the funding Ukraine needs to defend itself. The European Union struggled to reach a €50 billion (1.9 trillion baht) aid deal in February, and the United States remains deadlocked over its own US$60 billion (about 2.2 trillion baht) funding package. Now, calls to use Russia's own assets to fund the Ukrainian war effort are growing louder.
How the West should engage China
News, Published on 06/06/2022
» The world order is at risk of a lasting split, with the United States and its allies on one side, and China and its partners on the other. As US Treasury Secretary Janet Yellen noted at an Atlantic Council event last month, this outcome is far from desirable, and the US must work with China to prevent it. But, practically in her next breath, Yellen advocated actions that could thwart such an effort.
Janet Yellen's new financial multilateralism
Oped, Published on 13/03/2021
» The International Monetary Fund and World Bank have sprung into action in ways that would have been inconceivable even a year ago. Under former President Donald Trump, the US -- the main shareholder, with veto rights, in both institutions -- did little to shape their policies. Now, the US is taking the lead in coordinating their role and helping poor countries respond to the Covid-19 crisis.
China's currency Catch-22
Asia focus, Published on 30/07/2018
» Officials at the People's Bank of China (PBOC) have long insisted that "China won't weaponise the renminbi". And yet, implicit in their promise not to manipulate the currency for strategic ends is their ability to do so if they so desire.
Last gentleman's club opens its doors
News, Published on 31/10/2013
» Is one of the last bastions of gender inequality in rich democracies finally starting to crumble? In the past few weeks, Janet Yellen was nominated as the first female chair of the US Federal Reserve Board, and Karnit Flug became the first woman to be appointed Governor of Israel's central bank. If money is power, then women must no longer be excluded from controlling the supply of it.
New central bankers create waves
News, Published on 10/06/2013
» A changing of the guard is underway at many of the world's leading central banks.
Finance ministers to consider regional currencies
Published on 14/10/2012
» The recommendations from the 6th Asia-Europe Editors' Roundtable, "Multiple Currencies for a Multi-polar World", will be shared with ASEM Senior Finance Ministry Officials who will be participating at the 10th ASEM Finance Ministers' Meeting (ASEM FinMM 10) in Bangkok, Thailand.
Yuan alternative backed
News, Published on 14/10/2012
» The rising role of Asia in the world economy and the failure of the existing international monetary system to set proper values for currencies has underlined the importance of a new international currency.
New monetary system on horizon
Soonya Vanichkorn, Published on 13/10/2012
» The end of the US dollar's dominance is inevitable and the new international monetary order will be based on more than one key reserve currency, experts say.