Should the China-U.S. trade agreement prompt relief because it averts a damaging trade war or concern because selective preferential access for the United States to China's markets breaks multilateral rules against discrimination? The answer depends on how China implements the agreement....

Using donor-recipient data from 1973 to 2013, we find that reducing foreign aid as a fraction of the recipient’s GDP by 10% improves the bilateral political relation by 2% in the long run. Such a negative relationship is robust for aid with different purposes, for sample averaged over 3 to 5...

These days, plenty of cognoscenti in academia and politics share the common concern that the build-up of global macroeconomic imbalances threatens the international economy. While there is broad disagreement on the essence of what an imbalance exactly is, the term is generally associated with...