Showing 11 - 20 of 29
The risks that are threatening India's rise
News, Anne O. Krueger, 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.
Addressing the great debt conundrum
Oped, Anne O Krueger, 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.
Biden has done very little for the US economy
Oped, Anne O Krueger, 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.
Why is America undercutting the Japanese?
Oped, Anne O. Krueger, 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.
A world of debt is in need of more flexibility
Oped, Anne O. Krueger, 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.
US's semiconductor subsidy is counterproductive
Oped, Anne O. Krueger, 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.
Multilateralism is still the best course of action
Oped, Anne O Krueger, 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.
China and the sovereign-debt time bomb
Oped, Anne O Krueger, 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.
Sleepwalking into another trade war
Oped, Anne O. Krueger, Published on 10/01/2023
» The world is embroiled in a mega-crisis comprising the Covid-19 pandemic, Russia's war in Ukraine, high inflation, recession fears and rising debt distress across emerging markets and developing countries. The last thing we need is an additional source of economic harm. But that's what we may get, in the form of another destructive trade war.
The false promise of Washington's flawed CHIPS Act
News, Anne O Krueger, Published on 23/11/2022
» The US Congress recently approved the CHIPS and Science Act, which allocates over $50 billion (1.86 trillion baht) to strengthen the semiconductor industry in the hope of making the United States self-sufficient. And US Trade Representative Katherine Tai said that President Joe Biden's administration should be "replicating" the CHIPS Act for other industries "as the key to American competitiveness".