Asia’s Ascent into the Global Economy


By iMFdirect

Barry Eichengreen says what happens in China doesn’t stay in China anymore.

Eichengreen is Professor of Political Science at the University of California, Berkeley, and in this podcast he characterizes the emergence of Asia, and of China in particular, as “the most important economic event affecting the world in the last quarter century.” Continue reading

Data and Inequality


by iMFdirect

Policymakers need good data to help them make good decisions.

Ravi Kanbur says producing statistics on inequality is never just a technical act; it has political consequences.  Kanbur is a Professor of Economics at Cornell University and delivered the keynote speech at the Fourth IMF Statistical Forum on Statistics for Inclusive Growth.

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Helping Feed the World’s Fast-Growing Population


rabah-arezki-imfBy Rabah Arezki

Agriculture and food markets are plagued with inefficiencies that have dramatic consequences for the welfare of the world’s most vulnerable populations. Globally, farm subsidies amount to over $560 billion a year—equivalent to nearly four times the aid given to developing countries by richer ones. Major emerging-market nations have increased subsidies rapidly, even as rich nations cut theirs drastically. Meanwhile, tariffs on farm products remain a major point of contention in global trade talks.

One third of global food production goes to waste, while food insecurity is still rampant in developing countries. Even with the explosion of agricultural productivity since the middle of the 20th century, food security remains a challenge for much of the developing world. Food-calorie production will have to expand by 70 percent by 2050 to keep up with a global population that’s forecast to grow to 9.7 billion from last year’s 7.3 billion. Food insecurity can lead to violence and conflicts that can spill over well beyond borders.  Continue reading

The Top Ten Blogs of 2016


by iMFdirect

What a year it has been.  12 months with big implications for the global economy.

In 2016 our readers’ curiosity focused on a wide range of hot topics in the world of economic and financial policy: the economic impact of migration, China’s economic transition, the prospects for negative interest rates, the way forward for Greece, the future of commodity prices, and the outlook for Latin America, to name a few.  We compiled this top ten list for the past year based on readership.  Continue reading

China Must Quickly Tackle its Corporate Debt Problems


By Joong Shik Kang and Wojciech S. Maliszewski

Version in 中文 (Chinese)

China urgently needs to tackle its corporate-debt problem before it becomes a major drag on growth in the world’s No. 2 economy. Corporate debt has reached very high levels and continues to grow. In our recent paper, we recommend that the government act promptly to adopt a comprehensive program that would sacrifice some economic growth in the short term while rapidly returning the economy to a sustainable growth path.

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Tariffs Do More Harm Than Good at Home


maurice-obstfeld2By Maurice Obstfeld

Versions in: عربي (Arabic), 中文 (Chinese), Français (French), 日本語(Japanese), Русский (Russian), Español (Spanish)

A longstanding challenge for the global economy is the possibility that some countries compete for export markets through artificially low prices. Political leaders and pundits sometimes propose import tariffs to offset the supposed price advantages and exert pressure for policy changes abroad. What proponents often fail to realize is that such tariff policies, while certainly hurting their targets, can also be very costly at home. And surprisingly, the self-inflicted harm can be substantial even when trade partners do not retaliate with tariffs of their own. Continue reading

China’s Rebalancing Explained in 6 Charts


By Longmei Zhang

Version in 中文 (Chinese)

The word “rebalancing” is often used to describe China’s economic transition. But what does it mean? And how much is China rebalancing? A recent IMF paper attempts to answer these questions.  Continue reading

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