BERLIN -- The New Silk Road Initiative will not only result in an enormous surge in growth for China. With "One Belt, One Road," President Xi Jinping is launching one of the largest development projects in history and offers new perspectives to countries such as Uzbekistan and Tajikistan threatened by terrorism.
BERLIN -- Great crises often produce enduring images. For the Israeli-Palestinian conflict, this has often been a terrified child cowering behind protective parents; for 9/11 it was brave firemen rushing headlong into collapsing buildings. Last month saw what could become one of the lasting images of Europe's unending crisis: the sight of burning cars and buildings after riots outside the European Central Bank.
CAMBRIDGE, Mass. -- I have seen how Rwanda made investing in social progress -- including gender equity, a 61 percent reduction in child mortality in a single decade, and 95 percent primary school enrollment -- integral to its economic development strategy. Rwanda's positive economic performance would not have been possible without improvement in these and other dimensions of social progress.
SANTIAGO -- The bulk of that debt is in Asia, with China alone accounting for approximately $1 trillion. Other big dollar borrowers include Brazil (over $300 billion) and India ($125 billion). Countries such as Malaysia, South Africa, and Turkey, plus Latin America's more financially open economies, also have rising foreign currency debts.
SEOUL -- Equipped with high-quality education, Asia's rising middle class will demand higher-quality public services. Increased confidence in their country's political systems and institutional structures, enhanced by improved perceptions of upward mobility, will help to strengthen the rule of law. And there will be more opportunities for women to learn and work, leading to greater gender equality.
Today's technological revolutions calls for a comprehensive reinvention. The potential benefits of discoveries and new applications in robotics, biotechnology, digital technologies and other areas are all around us and easy to see. Indeed, many believe that the world economy may be on the cusp of another explosion in new technologies.
In essence, the reforms have been crafted to democratize the IMF governance. Now, those sitting at the head of the IMF's table are either American allies, or its Western partners, whereas the developing countries are underrepresented as a whole. They do not have a say in the IMF decision-making process, or in protection of their fundamental interests.
If the Republican Party takes full control of the U.S. Congress in the midterm election, policy gridlock is likely to worsen, risking a rerun of the damaging fiscal battles that led last year to a government shutdown and almost to a technical debt default. More broadly, the gridlock will prevent the passage of important structural reforms that the U.S. needs to boost growth.
On July 19, Trade Ministers from the G20 group of countries will convene for their annual meeting in Sydney, Australia. The meetings can be used to build consensus toward positions that can be brought back to forums where decisions can be enforced, such as the WTO. And this is exactly what the US plans to do.