The magazine of international economic policy.

FROM THE LATEST ISSUE 

Is a Serious Global Debt Crisis Possible?

Are economic forecasters about to miss another big call? On a scale of one to ten, more than two dozen noted observers rate the risk that the global economy experiences a serious debt crisis in the next three years.

Featuring commentary from Olivier Blanchard, Charles W. Calomiris, William R. Cline, Lorenzo Codogno, Robert H. Dugger, Joseph E. Gagnon, Kevin P. Gallagher, Indermit Gill, Richard Jerram, Steven B. Kamin, Steve Keen, Richard C. Koo, Moritz Kraemer, Desmond Lachman, Robert E. Litan, David R. Malpass, J.W. Mason, Thomas Mayer, Ewald Nowotny, Jim O'Neill, Álvaro S. Pereira, Holger Schmieding, Jeffrey R. Shafer, Mark Sobel, David M. Walker, William R. White, and Chen Zhao.

A symposium of views

Is China Facing a Deflationary Trap?

The problems are mounting.

By Patrick Bolton and Haizhou Huang

A TIE Interview With a Fed Insider

Former Fed Vice Chairman Donald Kohn holds court.

The Perils of a Trump-Musk Economy

Let me count the ways.

By Joseph E. Stiglitz

A Sensible Immigration Plan

Time for Donald Trump to think and reflect before he makes mistakes.

By Hilda Ochoa-Brillembourg

In Defense of Free Trade

Trump’s tariffs are not backed by serious analysis.

By Gary Clyde Hufbauer

Free Trade Fiasco

The case against trade liberalization.

By Eamonn Fingleton

How Europe Should Woo Trump

His reelection left us shell-shocked.

By Philippe Legrain

Off the News

View from the Beltway

Back from the dead—the return of crypto.

By Owen Ullmann

Letter from Berlin

Germany without a government—political chaos reigns.

By Klaus C. Engelen