Economics & Global Affairs

276 Items

From right, Cathay Pacific Chief Operating Officer Rupert Hogg, Chairman John Slosar, Chief Executive Ivan Chu and Finance Director Martin Murray attend a news conference as they announce the company result in Hong Kong, Wednesday, March 15, 2017. Hong Kong's Cathay Pacific Airways has posted its first annual loss in almost a decade, blaming it on tough competition from rival airlines, slowing Chinese economic growth and a stronger currency. (AP Photo/Kin Cheung)

AP Photo/Kin Cheung

Analysis & Opinions - South China Morning Post

Why Hong Kong and Singapore must help their airlines soar

| Mar. 21, 2017

Derwin Pereira says no laissez-faire principles can be prized more than the symbolic importance of Cathay Pacific and Singapore Airlines to each territory. Both are premium Asian airlines. Both are under pressure from upstarts in other parts of Asia and even in their own regional backyards. And both need their governments to accord them the courtesy given to national institutions.

A currency trader calculates Malaysian ringgit notes at a currency exchange store in Kuala Lumpur, Malaysia on Tuesday, Sept. 29, 2015. (AP Photo/Joshua Paul)

(AP Photo/Joshua Paul)

Analysis & Opinions - Project Syndicate

Addicted to Dollars

| Mar. 02, 2017

Since the end of World War II, the United States’ share in world GDP has fallen from nearly 30% to about 18%. Other advanced economies have also experienced sustained declines in their respective slices of the global pie. But you wouldn’t know it from looking at the international monetary system.

Russian President Vladimir Putin, left, and Chinese President Xi Jinping, listen to Indian Prime Minister Narendra Modi's statement at the end of the BRICS summit in Goa, India, Sunday, Oct. 16, 2016. Brazil, Russia, India, China and South Africa, or BRICS, face the tough task of asserting their growing influence as a power group even as they bridge their own trade rivalries to help grow their economies. (AP Photo/Manish Swarup)

(AP Photo/Manish Swarup)

Analysis & Opinions - The Straits Times

Trump inaugurates the end of the end of the Cold War

| Feb. 03, 2017

While all the attention on US President Donald Trump has been fixated on his controversial policy moves, what should capture the world's attention is its strategic future. That future involves a new relationship between the US, Russia and China. It predicts the end of the end of the Cold War. It is Russia, however, that could emerge as the new international kingpin and the balancer of power between the US and China.

Blog Post - Views on the Economy and the World

Outlook for 2017

| Jan. 03, 2017
Five journalist’s questions about the economic outlook in the New Year and my answers: In the first year of Trump’s presidency, what do you predict for the US economy in 2017?The US economy is currently at or near full employment, for the first time in 9 years.  So there is limited capacity for an acceleration of growth in the medium term.  Mr. Trump is fairly likely to follow through with his proposals for massive tax cuts and spending increases (which the economy needed 5 years ago, but were blocked by Republicans).

Journal Article - Quarterly Journal: International Security

Correspondence: Debating China's Rise and the Future of U.S. Power

| Fall 2016

William Z.Y. Wang responds to Stephen G. Brooks and William C. Wohlforth's winter 2015/16 article, "The Rise and Fall of the Great Powers in the Twenty-first Century: China’s Rise and the Fate of America’s Global Position."

Blog Post - Views on the Economy and the World

What Will the Trump Presidency Look Like?

| Nov. 12, 2016
We unexpectedly find ourselves in uncharted territory, in so many ways. The United States has never before had a president with no political or military experience. And Donald Trump is especially unpredictable: he has so often said things that conflict with other things he has said. So it is hard to know what he will do.But a possible precedent for what the Trump presidency may look like sits in plain sight: the George W. Bush presidency. To be fair, the Bush family clearly did not support Trump’s campaign.

Blog Post - Views on the Economy and the World

Economists Sign Letter Opposing Trump

| Nov. 02, 2016
370 of us economists have signed a new letter opposing Donald Trump:  Economists Lay Out List of Reasons to Vote Against Trump.   Here is the text of the letter, which the Wall Street Journal has reported on .The WSJ earlier surveyed all previous members of the President’s Council of Economic Advisers, spanning eight presidential administrations, Republican and Democrat.  Not a single one supported Trump, including the Republicans!Also 19 Nobel Laureates have signed a letter endorsing Hillary Clinton.

Blog Post - Views on the Economy and the World

The Gold Standard and Trump

| Oct. 31, 2016
My preceding post, “The Fed and Inequality,” observed that populists have historically favored easy money and low interest rates.  I mentioned William Jennings Bryan’s campaigns for the presidency in the 1890s as well as the supply-siders in the early 1980s who blamed the failure of Reaganomics to produce sufficient growth on Paul Volcker’s efforts to fight inflation with tight monetary policy.An interesting dimension concerns gold.  Bryan’s proposed reform for allowing easy money was to take the US off of the gold standard, most famously in his 1896 “cross of gold” speech.

Blog Post - Views on the Economy and the World

The Fed and Inequality

| Oct. 28, 2016
Populist politicians, among others, have claimed in recent years that monetary policy is too easy and that it is hurting ordinary workers.   But raising interest rates is not the way to address income inequality.It is a strange claim for anyone to make, but especially for populists.  Low interest rates are good for debtors, of course, and bad for creditors. Throughout most of US history, populists have supported easy monetary policy and low interest rates, to help the little guy, against bankers, who had hard hearts and believed in hard money.