Fears of criminal activity have prompted many governments to restrict competition from offshore financial centers, but over-regulating OFC activity presents a serious risk of destabilizing the global financial system.

How to deal with China’s ever-growing trade surplus has become one of the key economic policy challenges confronting the United States. The importance of this issue was highlighted by the recent high-level visit to Beijing of U.S. Treasury secretary Henry Paulson and Federal Reserve chairman Ben Bernanke.

At this event,...

At a November 4 conference, economists explained what is driving the current account deficit, how much this deficit should concern policymakers, and what can be done to reduce it.

China continues to enjoy rapid export-led growth. As part of its growth strategy, China engages in heavy foreign exchange market intervention in order to keep its currency pegged to the U.S. dollar. This policy is now coming under increasing fire by China's trade partners, including the United States, Japan, and...

The United States is presently running its largest-ever external current-account deficit. In the absence of appropriate corrective policy measures by the major industrialized countries, this deficit has the potential for hampering the global economic recovery.

This seminar will examine the underlying causes of the large U.S. external payments imbalance. It...

A July 22 AEI conference addressed the decline of the dollar, with participants contending that the ramifications will be felt from Asia to Europe.

A principal objective of the International Monetary Fund (IMF) is to promote exchange stability, maintain orderly exchange arrangements among member countries, and avoid competitive exchange depreciations. In today’s world of large global payment imbalances, the importance of attaining these objectives cannot be overestimated.This seminar will discuss the reforms...

The depreciation of the U.S. dollar has been gathering momentum; global financial markets must adjust to this trend. Our European allies worry about the impact on their own economic growth and the prospects for Asian economies are little better.