Inspiring Story of Tunisian Protests Ignored by Washington

Inspiring Story of Tunisian Protests Ignored by Washington

(Pictured: Tunisian President Ben Ali and French President Sarkozy.) 1. They Just Don’t Stop ProtestingNot even torture, which is rampant, or live bullets, which the Tunisian authorities are using with greater frequency, stop them. It is more than two weeks...

Decoding the G-20 Drama

There was a big brouhaha at the G-20 summit this week over what they’re dryly calling “global trade imbalances.” In the simplest terms, what this boils down to is this: Americans buy too much stuff from China. Chinese stuff is artificially cheap...
Debate on Globalization: Threat or Opportunity?

Debate on Globalization: Threat or Opportunity?

The IMF’s stated mission is to “foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.” However, there are those...
Greece: Same Tragedy, Different Scripts

Greece: Same Tragedy, Different Scripts

Cafés are full in Athens, and droves of tourists still visit the Parthenon and go island-hopping in the fabled Aegean. But beneath the summery surface, there is confusion, anger, and despair as this country plunges into its worst economic crisis in decades. The...
The Battle for Thailand

The Battle for Thailand

Nearly a week after the event, Thailand is still stunned by the military assault on the Red Shirt encampment in the tourist center of the capital city of Bangkok on May 19. The Thai government is treating captured Red Shirt leaders and militants like they’re...

Why a Real Recovery Must be a Global Recovery

The global financial crisis is yet another reminder of the interconnectedness of every nation on the planet. The catastrophe that originated in the United States quickly went viral, driving up poverty and joblessness from Mexico to Malaysia. And just as the problems...

IMF Reforms: Mere Tinkering or Change We Can Live With?

This essay is part of a strategic dialogue on the IMF. The accompanying essay by Martin S. Edwards is here and his response to Ambrose is here. Martin Edwards’ response is here. The International Monetary Fund (IMF), the Washington-based multilateral institution...

The IMF is Back? Think Again

Last year, as the financial crisis reached global and historic proportions, many commentators identified one institution as the debacle’s great winner: the International Monetary Fund. Just two years ago, the IMF seemed to be on an inexorable downward path: its...

Pirate Bankers, Shadow Economies

Corruption isn’t an issue that Jacob Zuma, the current president of the African National Congress — South Africa’s liberation party — is particularly enthusiastic about. Until prosecutors dropped charges in early April, Zuma stood accused of 18...

G20 and Global Poverty

Depending on whose analysis you read, the G20 summit in London was the best or the worst of meetings. To some critics, it was an abysmal failure by a self-appointed illegitimate body. To others (read: Gordon Brown), the world has been saved from the brink of its...

Obama: Sweep Away a Free Trade Relic

It’s not easy to make the International Monetary Fund look like a beacon of progressive enlightenment. But the Bush administration managed to do just that by letting ideology blind them to lessons from the Asian financial crisis that even doctrinaire IMF...
Policy Handcuffs in the Financial Crisis

Policy Handcuffs in the Financial Crisis

Although many countries have used capital controls effectively to address financial market volatility, 52 national governments lack the power to control money flows across their borders as the result of U.S. trade pacts or bilateral investment treaties. The...

Assessing the G-20 Declaration

The G-20’s “Summit on Financial Markets and the World Economy,” held in Washington on November 15, gave world powers a chance to coordinate their responses to the burgeoning international financial crisis and accompanying ills in real economies...