This Special Report looks at the long-run prospects for the international economic position of the United States, with particular focus on the likely evolution of the current account deficit and prospective foreign financing for it. Its goal is to provide a fundamental framework for the...

Building on the scholarship of the highly successful 2003 volume, Dollar Overvaluation and the World Economy, this book assesses the progress that has been made to date in correcting the sizable misalignments of key national currencies that developed in the late 1990s and early 2000s. The book...

Koreans living in the United States have generated an increase of about 15 to 20 percent in trade between the United States and Korea. This is one of the surprising conclusions reached in this special report, which, upon the 100th anniversary of the migration of Koreans from their homeland,...

The Asia Pacific Economic Cooperation (APEC) Forum has agreed to achieve "free and open trade and investment" in the Asia Pacific region by 2010, for the industrial countries that account for most of its trade, and by 2020 for the rest. It has also launched a wide range of other initiatives to...

Currency manipulation—governments of foreign countries intervening to suppress the value of their currencies to lower the prices of their exports and increase the prices of their imports—has vexed the United States for many years. Because most of the intervention takes place in US dollars,...

The United States and China are among the world's largest trading nations. They serve as the destination and source of the world's largest flows of foreign direct investment, and they participate in regional economic arrangements on trade and investment in the Asia-Pacific region and other parts...

The initial postwar challenge from East Asia was economic. Japan crashed back into global markets in the 1960s, became the largest surplus and creditor country in the 1980s, and was viewed by many as the world’s dominant economy by 1990. The newly industrialized countries (Korea, Taiwan, Hong...

A comment on Lars Jonung and Eoin Drea's (2010) article, "It Can't Happen, It's a Bad Idea, It Won't Last: U.S. Economists on the EMU and the Euro, 1989-2002." _Econ Journal Watch_ 7(1):4-52. Link