Opinions

Priorities for Saving the Private Sector

Philippe Le Houérou WASHINGTON, DC – For most countries, navigating the protracted economic slump brought on by COVID-19 is starting to look more like a marathon than a sprint. According to our estimates at the International Finance Corporation (IFC), domestic private investment and foreign direct investment in emerging economies will fall this year by almost […]

Opinions

A Better Alternative to Trump’s WeChat Ban

Shang-Jin Wei NEW YORK – Shortly after US President Donald Trump issued an executive order effectively banning the Chinese-owned social-media app TikTok, he issued a second order prohibiting “any transaction that is related to WeChat by any person … as identified by the Secretary of Commerce.” According to the White House, the WeChat ban – which will take effect […]

Opinions

Male Leadership Malpractice

 Jayati Ghosh NEW DELHI – The United States, Brazil, and India have surged ahead of the rest of the world in terms of the number of confirmed COVID-19 cases, with no peak in sight. They (and fourth-place Russia) have one thing in common: macho leaders with authoritarian personalities. There are notable differences in how these countries […]

Opinions

Reading the Dollar Doldrums

Mohamed A. El-Erian LAGUNA BEACH – A near-10% drop in the value of the US dollar since its March high has given rise to two distinct narratives. The first takes a short-term perspective, focusing on how a depreciation could benefit the US economy and markets; the second takes the long view, fretting over the dollar’s […]

Africa Investment Opportunities

Somaliland, China Agree To Strengthen Long-standing Trade And Social Cooperation.

Odindo Ayieko This was part of the discussions during a meeting between the President of the Republic of Somaliland, Muse Bihi Abdi and a delegation led by the Chinese Representative for Africa-China Cooperation (FOCAC), Ambassador. Zhou Yuxiao at the Presidential Palace. China had intended to use the meeting to forestall the growing diplomatic relations between […]

Opinions

Democratizing Innovation

Dani Rodrik CAMBRIDGE – Innovation is the engine that drives contemporary economies. Living standards are determined by productivity growth, which in turn depends on the introduction and dissemination of new technologies that allow an ever-wider variety of goods and services to be produced with fewer and fewer of our planet’s resources. Policymakers and the public […]

Opinions

China’s Great Wall of Water

Giulio Boccaletti LONDON – The East Asian monsoon is pummeling China this summer. As of late July, flood alerts had been issued for 433 rivers, thousands of homes and businesses had been destroyed, and millions of people were on the verge of becoming homeless. The water level of Poyang Lake, China’s largest freshwater lake, has risen […]

Opinions

Minding the Perils of Progress

Daron Acemoglu CAMBRIDGE – It is always worth remembering that in the grand sweep of history, we are the fortunate ones. Thomas Hobbes’s description of life as “solitary, poor, nasty, brutish, and short” was apt for most of human history. Not anymore. Famines and hunger have become rarer, living standards for most people have risen, and extreme […]