The past two weeks of turmoil and drama in Sino-American affairs may well be the new normal, not an exception to an otherwise placid bilateral relationship. While Friday brought news of a possible deal allowing dissident Chen Guangcheng to leave China to study in America, that deal is no more certain than the earlier, failed deal, announced just days before

Despite China's emergence as an economic power and all the talk about how America has become a service economy, U.S. manufacturing is alive and well. But there is a fly in the ointment -- the U.S. has become dangerously dependent on imports of raw materials needed to keep the economy moving.

Europe's banks and entire monetary system are in crisis from the sovereign debt of financially weak governments.  But the capital requirement for banks to hold such Euro denominated debt was zero.  It was defined as "risk free," but has instead led to massive losses.

Every day patients receive treatments that do not work properly. For many this means no relief from symptoms, but for some death is the result. Yet concerted action against such products is limited. Before we can discuss why that's the case, I will attempt to explain what kind of products don’t work, and what we should call them.

Sir, Paul de Grauwe’s suggestion that stepped-up direct intervention by the European Central Bank in the European government bond markets would offer a solution to the Eurozone debt crisis rests on two dangerous misperception.

In his latest Economic Outlook, AEI economist John Makin warns us of Three Dangerous Myths about Monetary Policy which, if acted upon, could disrupt world markets.

Evidence from numerous studies shows that emerging markets have far more poor quality drugs than western markets. There are many reasons for this, but one reason, investigated in this paper, is the possibility that smaller, often privately-owned, pharmacies take greater risks with drug procurement than larger organizations, which are often franchises or major pharmacy chains.

For decades, investors have spent countless hours speculating about the Federal Reserve's agenda on interest rates. Market watchers study every adjective in often-cryptic Fed statements for clues about the outlook for monetary policy.