Even as the World Bank calls for 600 million more jobs by 2020, the IMF forecasts a long economic slowdown. Will new technologies help? No. The first need is basic reform in governance.
As Spain's credit possibilities dry up, the strength of the eurozone is further tested. If the European Union is to shield against the negative effects of globalization – like the current debt crisis – it needs a fully empowered, legitimate central government, writes a former Polish prime minister.
It is economic nonsense to continue to calculate bilateral trade balances – like those between the US and China – the way we do today. What we need to monitor is the effective added value in each country, not the overall value of goods and services imported and exported.
The country has put steep tariffs on an array of goods. Seventeen of the world's 20 largest economies have broken recent promises not to take protectionist measures.
An economic stimulus package clause raises concerns of repercussions by US trading partners.