There’s a new coalition government in power in Islamabad. And, like its predecessors, it not only inherits an economy in crisis, but is also engaging the International Monetary Fund, as well as key foreign partners – including Saudi Arabia and the United Arab Emirates – for emergency support. Read More Here
China’s full-scale lockdown of Shanghai, the country’s largest urban economy, will have far-reaching economic and social costs. More than just a public-health measure, the move should be interpreted as a reassertion of centralized control and a partial reversal of the devolution of power that took root after 1978. Read More Here
A coalition of more than half a dozen disparate political parties that have formed the new government illustrates the return of the old order. With a few exceptions, they are all old faces in the cabinet — tried and tested. The status quo remains, and dynastic politics has strengthened its hold. Read More Here
Despite predictions of doom for the heavily sanctioned Russian economy, nearly two months into Russian President Vladimir Putin’s invasion of Ukraine, his country’s oil exports to Europe and other have actually risen, and its financial sector is so far avoiding a serious liquidity crisis. Read More Here
Economies around the world have accumulated layer upon layer of legacies from past shocks since the global financial crisis. Extraordinary fiscal actions in response to the pandemic led to a surge in fiscal deficits and public debt in 2020. Read More Here
Any country that rises as impressively as China is bound to make fools of some prophets of decline along the way. In recent decades, Beijing has repeatedly confounded those who predicted it was about to hit the wall. Read More Here
Facing Sri Lanka’s worst economic crisis, the Rajapaksa family’s appeals to national security and Sinhala Buddhist nationalism may no longer be enough to keep them in power. Read More Here
Coming after a year of high inflation, Russia’s war in Ukraine is forcing a reckoning for policymakers and commentators everywhere. New macroeconomic realities show that the days of mindless demand stimulus, guaranteed bailouts, and activist climate policies must now be put behind us. Read More Here
Mian Mohammad Shehbaz Sharif was elected as the 23rd prime minister of Pakistan on Monday, receiving 174 votes in the 342-strong National Assembly after the Pakistan Tehreek-i-Insaf, which is the largest party in the lower house with 155 seats, boycotted the session and also decided to resign from the assembly. Read More Here
The US-China trade war and the recent freezing of much of Russia’s official foreign-exchange reserves have again raised fears of an exodus from the dollar. But no one should write the greenback’s obituary just yet. Read More Here
looking beyond borders 