My Republica

Anne O Krueger

Anne O Krueger, a former World Bank chief economist and former first deputy managing director of the International Monetary Fund, is Senior Research Professor of International Economics at the School of Advanced International Studies, Johns Hopkins University, and Senior Fellow at the Center for International Development, Stanford University

Resetting US-China trade relations

Published On: February 28, 2021 08:45 AM NPT By: Anne O Krueger

Given China’s desire to be a respected member of the international community, a more satisfactory US approach would involve seeking cooperation and mutual gain when possible and limiting confrontation to vital issues.

Does pandemic debt relief work?

Published On: January 31, 2021 08:00 AM NPT By: Anne O Krueger

Rather than pursue more debt relief to help the developing world weather the COVID-19 crisis, rich countries should provide pandemic-related necessities directly. Debt relief is so imprecise a mechanism that it is as likely to benefit private-sector creditors as it is to help the poor.

Can poor countries avoid a vaccine bidding war?

Published On: December 24, 2020 08:00 AM NPT By: Anne O Krueger

The best way to help poor countries obtain more doses is to reach an international agreement, presumably through COVAX and the WHO, to coordinate the allocation of available vaccines.

America must mend many fences on trade

Published On: November 26, 2020 09:08 AM NPT By: Anne O Krueger

It is almost impossible to comprehend how much damage Donald Trump’s presidency has done to America’s global standing these past four years.

Trump’s crony capitalism

Published On: October 23, 2020 07:50 AM NPT By: Anne O Krueger

Under the Trump administration, crony capitalism has taken root, and will now need to be weeded out. Otherwise, the US economy will continue to be hobbled while crooks and grifters line their pockets.

Trump’s spectacular trade failure

Published On: September 26, 2020 12:34 PM NPT By: Anne O Krueger

Trump’s bilateralism and rejection of the WTO has undermined the entire international trading system and inflicted great harm on US firms and households.

Financial repression revisited?

Published On: August 24, 2020 12:13 PM NPT By: Anne O Krueger

WASHINGTON, DC – The US federal debt-to-GDP ratio rose sharply during the 2008-09 Great Recession and continued rising thereafter, going from 62 percent in 2007 to 90 percent in 2010. By 2019, it had reached 106 percent, and the Congressional Budget Office was warning that the trust funds for Social Security and Medicare would be exhausted by 2028. Many economists argued that a debt-to-GDP ratio of 100 percent was already worryingly high, and that the future tax increases needed to reduce it would be massive.

What the global pandemic response is missing

Published On: June 25, 2020 10:00 AM NPT By: Anne O Krueger

WASHINGTON, DC – After ravaging the developed world, COVID-19 is now devastating developing and emerging-market countries, most of which lack the medical and financial capacity to combat the pandemic and its economic effects.

The rich world’s pandemic imperative

Published On: May 24, 2020 03:30 PM NPT By: Anne O Krueger

WASHINGTON, DC – COVID-19 has confronted the world with a horrific crisis. Because developing a vaccine will likely take at least a year, governments need to buy time to keep health-care facilities from being overwhelmed and to minimize the number of people who fall ill and die, not least by reducing the rate of new infections.

Only Multilateralism Can Save Us

Published On: March 22, 2020 10:28 AM NPT By: Anne O Krueger

WASHINGTON, DC – The global economy was ripe for a recession even before the coronavirus pandemic struck. Many commentators have been warning that stock markets were overheated, that advanced economies were heading for a slowdown, and that US President Donald Trump’s protectionist policies had disrupted supply chains and ushered in an era of heightened uncertainty. Now, the stock market has finally crashed, and a recession has become almost inevitable.

Trump’s “Currency Manipulation” Con

Published On: February 24, 2020 10:20 AM NPT By: Anne O Krueger

WASHINGTON, DC – Would you believe the following story if you heard it? Imagine a small, rural town with one general store that sells to, and buys from, the farmers living in the surrounding area. Owing to their large families, the farmers have been running up a tab at the store, and they now owe the store a great deal of money. So, they organize a protest to demand that the store raise its prices on seed, fertilizer, and the like, while reducing the price it will pay for the farmers’ grains.

Trump’s Backward March on Trade

Published On: January 23, 2020 08:33 AM NPT By: Anne O Krueger

WASHINGTON, DC – Following America’s disastrous 1930 Smoot-Hawley Tariff Act, the subsequent international trade war, and eventually World War II, the United States went on to lead the world toward a more open multilateral trading system. In 1947, the international community adopted the General Agreement on Tariffs and Trade, which would later become the World Trade Organization. Under this international body, trade was bound to the rule of law and the principle of non-discrimination among trading partners.

Why US-China trade war could re-escalate

Published On: December 23, 2019 09:25 AM NPT By: Anne O Krueger

The demand that China eliminate its bilateral trade surplus with the US is misguided. There is no reason why merchandise trade balances should matter at all

Making America mediocre

Published On: November 24, 2019 08:58 AM NPT By: Anne O Krueger

WASHINGTON, DC – The private sector performs well when firms can compete on a level playing field. But if the state is willing to influence market outcomes for individual firms, politically connected parties can gain an advantage over their more efficient competitors.

Argentina needs intensive care

Published On: September 24, 2019 12:25 AM NPT By: Anne O Krueger

WASHINGTON, DC – Imagine a man who has lived too extravagantly and eventually must go to the doctor for treatment of an acute disease, along with several other chronic conditions. The doctor prescribes a ten-day course of antibiotics, and advises his patient to start taking better care of himself. After three days of taking the pills and following the doctor’s orders, the man feels much better. But he finds the quiet life painful, so he forgets the medicine and his doctor’s advice and doubles down on debauchery.

Trump’s war on evidence

Published On: August 26, 2019 12:30 AM NPT By: Anne O Krueger

US President Donald Trump has made no secret of his disdain for experts and evidence-based policymaking

Roots of Puerto Rico’s crisis

Published On: August 4, 2019 01:00 AM NPT By: Anne O Krueger

Its unique governance structure allows both the Puerto Rican government and the US federal government to blame each other for the island’s plight

Costs of Trump’s tariffs

Published On: June 16, 2019 12:30 AM NPT By: Anne O Krueger

Threat of new tariffs will lead small countries to align themselves with one large country or another

Is America tired of losing?

Published On: May 20, 2019 01:00 AM NPT By: Anne O Krueger

In 2016, Trump promised Americans that he would negotiate so many great deals on their behalf that they would get “tired of winning.” Now Americans are probably growing quite tired

Mayday for protectionism

Published On: April 28, 2019 12:30 AM NPT By: Anne O Krueger

Whereas America built less than one million gross tons of ships between 2014 and 2016, South Korea and China produced a combined 140 million tons