For countries where nominal interest rates are at or near zero, fiscal stimulus should be a no-brainer. As long as the interest rate at which a government borrows is less than the sum of inflation, labor-force growth, and labor-productivity growth, the amortization cost of extra liabilities will be negative. Meanwhile, the upside of extra spending could be significant. The Keynesian fiscal multiplier for large industrial economies or for coordinated expansions is believed to be roughly two -- me

For years now, China’s been lavishly courting friends across the developing world. Chinese leaders, in pointed contrast to their Western counterparts, traverse the globe with bursting wallets, doling out aid, cheap loans and infrastructure deals in an effort to procure both influence and raw materials. Commodity-dependent countries get cheap financing for development, despite their often dodgy credit ratings; China gains diplomatic clout and a bargain on those commodities. Both sides win — that

Two of Indonesia’s top export products face unprecedented regulation in international export markets. In both cases, the measures are intended to curb consumption of consumer goods in order to address public health or environmental concerns. 　The commonalities don’t end there. In both cases, the measures violate international trade rules and are based on one-sided assumptions and unscientific predictions.　One of these products is palm oil, which may face a discriminatory tax environment in Franc

If I had to give one piece of advice to President Park Geun-hye to help her out in the postelection confusion, I would ask the head of state to move her Blue House office down to the staff building and work there until the end of her tenure. She could use the grandiose main building for receptions with foreign guests and distinguished individuals such as Tuesday’s luncheon with more than 40 media representatives. Yet, the president should also be advised to reduce her “dialogue sessions” with la

This month’s earthquakes in Japan’s Kumamoto prefecture were literally shattering.Lives have been taken, homes torn up and livelihoods forfeited. Nature, seemingly at man’s mercy at times, has proven once again that ultimately, she calls the shots.  I have not yet been able to visit the quake-stricken areas, but I felt the second quake, albeit just for a few seconds. Later, when I saw that the quakes and aftershocks had occurred all the way down in Kumamoto — which is more than a 1,000 kilometer