Political Economy

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Essay, Nov/Dec 2009
C. Fred Bergsten

The global economic crisis has revealed the folly of large U.S. budget and trade deficits, as well as of the strong dollar that makes them possible. If it is serious about recovery, the United States must balance the budget, stimulate private saving, and embrace a declining dollar.

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Snapshot,
Roger M. Kubarych

Are the bank bailouts a reward for bad behavior? Maybe. But keeping large financial institutions in business still makes sense.

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Snapshot,
Anders Åslund

At first, Russia reacted to the global economic crash with denial. Then came a period of reform. What follows next will likely decide the battle between the country's liberals and hardliners.

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Essay,
Derek Scissors

Driven by a near obsession with economic growth, Beijing has been extending the state’s reach into the economy. Thus, instead of urging it to resume extensive market reforms—which it will not readily do—Washington should encourage it to focus on a narrow range of feasible measures.

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Essay, May/June 2009
Derek Scissors

Driven by a near obsession with economic growth, Beijing has extended the state’s reach into the economy. Instead of urging the Chinese government to resume extensive market reforms, Washington should encourage it to focus on a narrow range of feasible measures.

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Essay, May/June 2009
Ian Bremmer

Across the world, the free market is being overtaken by state capitalism, a system in which the state is the leading economic actor. How should the United States respond?

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Response, May/June 2009
Robert Madsen; Richard Katz

Does the current financial crisis resemble Japan's "lost decade" of the 1990s? It may be even worse, argues Robert Madsen. Not so, replies Richard Katz.

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Comment,
Richard N. Cooper

An annotated Foreign Affairs syllabus on the Great Depression.

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Snapshot,
Minxin Pei

The financial crisis is challenging Beijing's ability to hold up its end of the deal with the country's elite, leading to a potential threat to the continued rule of the Chinese Communist Party.

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Comment, Mar/Apr 2009
Richard Katz

The financial crisis of 2008 is not a replay of Japan’s “lost decade” of the 1990s. The current crisis is the result of correctable policy mistakes rather than deep structural flaws in the economy.

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