When History Rhymes

2019-03-13T12:16:56-04:00November 5, 2018|

By Christine Lagarde

November 5, 2018

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The graves of soldiers who died in World War I, near Verdun, France: on the 100th anniversary of the end of the Great War, leaders should listen closely to the echoes of history (photo: Mathieu Pattier/SIPA/Newscom)

Mark Twain once said that “History never repeats itself, but it does often rhyme.” As heads of state gather in Paris this week to mark 100 years since the end of World War I, they should listen closely to the echoes of history and avoid replaying the discordant notes of the past. […]

Steering the World Toward More Cooperation, Not Less

2019-03-13T14:49:12-04:00September 6, 2018|

By Vitor Gaspar, Sean Hagan, and Maurice Obstfeld

September 6, 2018

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With the world becoming more interdependent than ever before, countries can achieve a lot when they pull together (photo: Anton Sokolov/iStock by Getty Images)

Countries cooperate if they perceive it to be in their best interests, both economically and politically.  […]

Financial Stability Improves, But Rising Vulnerabilities Could Put Growth at Risk

2019-03-15T14:15:31-04:00October 11, 2017|

By Tobias Adrian

October 11, 2017

Versions in Versions in عربي (Arabic), 中文 (Chinese), Español (Spanish), Français (French). 日本語 (Japanese), Русский (Russian)

The headquarters of the European Central Bank in Frankfurt, Germany: To avoid causing market turbulence, central banks will have to clearly communicate their plans to gradually unwind crisis-era policies (photo: Caro/Sven Hoffman/Newscom).

It seems like a paradox. The world’s financial system is getting stronger, thanks to healthy economic growth, buoyant markets, and low interest rates. Yet despite these favorable conditions, dangers in the form of rising financial vulnerabilities are starting to loom. That is why policymakers should act now to keep those vulnerabilities in check. […]

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