Will China’s Asian Infrastructure Investment Bank begin a new world order?

Summary: China has created the Asian Infrastructure Investment Bank (AIIB) and signed on enough nations to make it a significant global force, but opinions differ about its odds of success and long-term significance. Some people expect nothing; some expect the world to change. Here I review the various bets and pick a winner.   {1st of … Continue reading Will China’s Asian Infrastructure Investment Bank begin a new world order?

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Spain’s’ only three options for recovery

Summary:  The Euro-crisis began in March 2010, and yet its causes and basic elements remain widely misunderstood -- including, based on their public statements, by many of Europe's leaders.  Here Prof Pettis gives a clear explanation of what's happening, and of Spain's only three ways out of this crisis. Excerpt from "Three cheers for the … Continue reading Spain’s’ only three options for recovery

A revolution is not a dinner party. Thoughts about the future of China

This is a follow-up to Will China collapse? (5 August 2008). Recent analysis: "Get ready for lower Chinese growth", Michael Pettis, op-ed in the Financial Times, 29 July 2009  "The spend is nigh", Economist, 30 July 2009 -- "The second article in our series on global rebalancing asks whether China can reduce its trade surplus by consuming … Continue reading A revolution is not a dinner party. Thoughts about the future of China