Asia Leading the Way

Anoop Singh
Asia is moving into a leadership role in the world economy

A Stronger China

Linda Yueh
China can emerge from the crisis stronger if it increases domestic demand and promotes global integration

Min Zhu on Asia’s Economy and More

The new Special Advisor to the IMF’s Managing Director talks about Asia in the global economy, the global financial crisis, correcting imbalances, and the IMF in Asia

Deeper Markets, Cheaper Capital

Sanjay Kalra
Financial sector reforms can help reduce the cost of capital, spur investment, and foster rebalancing in Asia

Serving Up Growth

Olaf Unteroberdoerster
Promoting the services sector in Asia is another way to restore balance and boost growth

People in Economics: The Unlikely Revolutionary

Hyun-Sung Khang profiles Jang Hasung
Jang Hasung is a business professor turned corporate crusader who helped force Korean conglomerates to become more transparent

Also in This Issue

Debt and Democracy

Rabah Arezki and Markus Brückner
Democracies use windfalls from international commodity price booms to reduce external debt. Autocracies tend to spend them

Municipal Bombs

Randall Dodd
A number of local governments on both sides of the Atlantic found themselves in a financial mess after engaging in exotic derivatives transactions

After the Fall

Eswar Prasad
As the debate over how best to manage monetary policy heats up, the once-sharp difference between advanced and emerging economies is blurring

Redefining Central Banking

Duvvuri Subbarao
Central banks must distill lessons from the global crisis and make concrete reforms

Principles for Reform

William Poole
In designing new policies for the financial sector, policymakers should remember that old-fashioned ideas are important

Lowering Public Debt

Harald Finger and Azim Sadikov
Many countries have slashed their public debt ratios in the past, often thanks to favorable macroeconomic conditions. They might not be so lucky in the future

Reducing the Staggering Costs of Cheap Energy

Dominique Guillaume and Roman Zytek
Eliminating domestic energy subsidies is tricky, but oil-exporting countries that do so will see a clear payoff

Sovereign Wealth Funds in the New Normal

Mohamed A. El-Erian
As the global financial crisis recedes, state-owned investment companies are well placed to seize a new set of opportunities and navigate changing risks

Searching for Stability

Bas B. Bakker and Anne-Marie Gulde
Eastern Europe rode a decade-long boom into a serious bust and now must figure out how to restart growth on a more even keel