Courtesy: Foreign Affairs
As Europe emerges from economic crisis, a larger challenge remains: finally turning the eurozone into an optimal currency area, with economies similar enough to sustain a single monetary policy. Getting there will be difficult and expensive, but the future of European integration hangs in the balance.
Courtesy: Foreign Affairs
The author explains in detail the functions of the World Bank and how it has evolved over the years. He also argues that while the bank has adapted to shifts in economic influence and the rise of emerging markets, it must become even more innovative and representative.
Courtesy: Foreign Affairs
China seems to want the yuan to dethrone the dollar as the global reserve currency. But don’t expect China’s currency to take over anytime soon. The yuan will rise, but far slower than predicted, and Beijing’s puzzling efforts to help it along reveal flaws in the government’s divided and incremental approach.