Economics & Convergence

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Otaviano Canuto, IMF: What Happened to World Trade?

World trade suffered another disappointing year in 2015, experiencing a contraction in merchandise trade volumes during the first half and only a low recovery during the second half (Figure 1). While last year’s trade performance can be associated to the

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Ross Jackson: Stemming the Flow of Refugees – An Holistic Approach

The unprecedented surge of refugees streaming into Europe is no doubt due to the ongoing wars in Syria and Iraq and the unstable situation in Libya. However, refugees were arriving in Europe long before these wars began. They will continue

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Michael Pettis: China – What the New Currency Regime Means and How It Affects the World

On Tuesday, August 18, the People’s Bank of China (PBoC) surprised the markets with a partial relaxing of the currency regime, prompting a great deal of discussion and debate about the value of the renminbi (RMB). Part of the discussion

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