21st Century Regionalism: Filling the gap between 21st century trade and 20th century trade rules
Baldwin, Richard. The last time multilateral trade rules were updated, Bill Clinton was in his first term of office, data was shared by airmailing 1.4 megabyte HD floppy disks (few people had email), cellphones looked like bricks and calling costs were measured in dollars per minute. Trade mostly meant selling goods made in a factory […]
Why SDRs will not fix the monetary system
Michael Pomerleano. The international monetary system needs reform. The present system, dominated by reserve holdings of US dollars, places an unsustainable burden of creating reserves on the US. While the US is privileged, in the short run, to issue a reserve currency, it hinders the productive capacity of the country’s economy in the long run. […]