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Otaviano Canuto, World Bank Group: Walking on the Wild Side – Monetary Policy and Prudential Regulation
Global financial integration and the linkages between the financial and the real sides of economies are sources of huge policy challenges. This is now beyond doubt, after what we saw in the run-up to and the unfolding of the 2008
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Otaviano Canuto, World Bank Group: China, Brazil – Two Tales of a Growth Slowdown
China and Brazil are both facing a growth slowdown, as compared to the period prior to the global financial crisis. They were both able to respond with aggressive anti-cyclical policies to the post-Lehman quasi-collapse of the global economy. In both
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Otaviano Canuto, World Bank Group: Fiscal Policy Redux
As part of their response to negative shocks coming from advanced economies after the Lehman Brothers’ collapse in 2008, most developing countries resorted to countercyclical fiscal policy. Such a policy choice was available to many developing economies that entered the
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China’s Economic Growth is On-Target Despite Challenges
The IMF World Economic Outlook recently released a projection of China’s economic growth of 4.6 percent and 4.1 percent for this year and next. In 2023, after the economic reopening with the end of the “Covid-zero” policy, the rate was
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How Will Artificial Intelligence Affect the Economy?
Artificial intelligence (AI) is the name given to the broad spectrum of technologies by which machines can perceive, interpret, learn, and act by imitating human cognitive abilities. Automation was created to better fulfill repetitive tasks, increasing productivity. AI, with its
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Whither China’s Belt and Road Initiative?
The Belt and Road Initiative (BRI), launched by Xi Jinping, passed its tenth anniversary in 2023. It has entered a third phase. The initiative added a label to China’s financing and construction of infrastructure abroad, which had already totaled more
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Big Slowdown in Chinese Economy Calls for Tweaks to ‘Rebalancing’
Chinese economic figures released August 1 show a slowdown in growth. New Omicron outbreaks — in the context of the zero-Covid policy — the housing slump and heat waves have been decelerating the nation’s pace. This is another step in
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Dollar Dominance: Greenback Will Endure Current Hardships
Financial sanctions on Russia after its invasion of Ukraine sparked speculation that the weaponisation of access to reserves in dollars, euros, pounds, and yen would spark a division in the international monetary order. China would strengthen its international payments system
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Tightening Financial Conditions Bring Impacts to Asset Values
In the first half of this year, US stock markets suffered a fall not seen in more than 50 years. The S&P 500 index on Thursday June 30 was more than 20 percent down compared to January, a drop not
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Quantitative Tightening and Capital Flows to Emerging Markets
In its May 15th meeting, the Federal Open Market Committee (FOMC) of the U.S. Federal Reserve (Fed) lifted its benchmark policy rate by 0.75% to 1.50%–1.75%, the most significant increase since 1994. The central bank also signaled an additional increase
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