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December 31, 2024
 

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Barry Eichengreen
In Joe Biden’s four years as president, the U.S. outperformed virtually every other advanced economy in terms of output, employment and productivity growth.
COMMENTARY / World / The Year Ahead
Dec 29, 2024
An economic requiem for the Biden administration
Now that the outgoing U.S. president’s term is about to expire, an elegy is in order for his administration's economic achievements, failures and missed opportunities.
Former European Central Bank chief Mario Draghi presents his report on the future of European competitiveness to the European Parliament in Strasbourg, France, on Sept. 17.
COMMENTARY / World
Oct 23, 2024
Europe’s wake-up call on innovation and competitiveness
Europe stands at a critical juncture, needing to choose between maintaining the status quo or moving toward deeper integration.
The lapse of the historic U.S.-China Science and Technology Agreement, coupled with escalating tariffs and trade restrictions, has exacerbated economic tensions between the two countries and impacted global stability.
COMMENTARY / World
Sep 12, 2024
Resetting U.S.-China economic relations
To address global challenges, active cooperation between the two economic powers is indispensable.
U.S. Vice President Kamala Harris addresses the United Nations' COP28 climate change conference in Dubai on Dec. 2. Harris and Donald Trump are poles apart when it comes to climate change.
COMMENTARY / World
Aug 27, 2024
America’s coming climate election
Clearly, the positions of the two U.S. presidential candidates on the climate crisis could not be more different.
Resistance to adopting digital technologies, restrictive EU regulations, and energy-price shocks are potential explanations for Europe's lagging productivity.
COMMENTARY / World
Apr 10, 2024
Why is Europe losing the productivity race?
A forthcoming report from Mario Draghi will recommend removing barriers to competition, which would intensify the pressure on firms to innovate.
The world needs to avoid the mistakes and pitfalls that go with providing debt relief and should craft sustainable solutions for financially distressed nations. 
COMMENTARY / World
Mar 1, 2024
Developing countries’ never-ending debt crisis
Creditors have a role in resolving debt crises. This means all eyes are on China, which is the single most important creditor for debt distress.
Japan Times
COMMENTARY / World
Jul 13, 2023
Russia and the long shadow of Versailles
Garnishing Russia’s frozen assets to help finance Ukraine's reconstruction would give the Kremlin a powerful propaganda tool with which to paint Russia as the victim.
Japan Times
COMMENTARY / World
Jun 22, 2023
Making development bank lending safe for poor countries
The Macron Summit on global financing will seek to enhance fragile economies’ access to the funds needed to cope with development challenges.
Japan Times
COMMENTARY / World
May 15, 2023
Winners and losers in the artificial intelligence arms race
Technological change always creates winners and losers, but artificial intelligence such as ChatGPT has the potential to create more of the former than the latter.
Japan Times
COMMENTARY / World
May 4, 2023
The SVB debacle and a bank 'murder mystery'
As long as there are banks, there will always have bank failures, which is why regulators are needed to draw the right lessons from the SVB debacle.
Japan Times
COMMENTARY / World
Mar 26, 2023
What it will take to reshape the global monetary order
Why isn't diversification from the U.S. dollar toward the Chinese yuan visible in data on foreign reserves and international payments?
Japan Times
COMMENTARY / World
Jan 23, 2023
ChatGPT and sympathy for the algorithm
The year 2022 will be seen as when artificial intelligence gained street credibility with the release of ChatGPT, a new AI chatbot.
Japan Times
COMMENTARY / World
Nov 21, 2022
Who should coordinate Ukrainian reconstruction?
The more entities involved in reconstructing Ukraine the better. The effort cannot be financed by a single or even a small handful of sources.
Japan Times
COMMENTARY / World
Jul 13, 2022
Boris Johnson leaves behind a sterling mess
Investors appear to view the British pound more like the currency of a troubled emerging market than of a stable advanced economy.
Japan Times
COMMENTARY / World
Jun 17, 2022
Economic consequences of a Ukraine peace
It seems wrong to ask the U.S. and Europe to repair what Russia has broken. So, it is tempting to suggest that Ukraine's reconstruction should be financed by garnishing Russian assets.
Japan Times
COMMENTARY / World
May 13, 2022
Shaping a Marshall Plan for the rebuilding of Ukraine
The Marshall Plan provided Europe with the funds not only to rebuild itself, but also to leapfrog a generation technologically. Ukraine's reconstruction offers a similar opportunity.
Japan Times
COMMENTARY / World
May 1, 2022
Europe’s economy on a knife edge
Europe's recovery from the damage caused by COVID-19 was solidifying. But now European policymakers have exactly zero control over whether their economies' rebound continues.
Japan Times
COMMENTARY / World
Mar 16, 2022
The monetary consequences of Vladimir Putin
Having witnessed the financial shock and awe or Russia's invasion and the subsequent sanctions, other countries will likely re-think how and where they hold their foreign assets.
Japan Times
COMMENTARY / World
Feb 9, 2022
COVID-19 submerges emerging markets
One reason to be skeptical of the rosy consensus on emerging markets is that COVID-19 has spurred accelerated automation in advanced economies, making them less attractive for manufacturers.
Japan Times
COMMENTARY / World
Aug 16, 2021
Will central bank digital currencies doom dollar dominance?
CBDCs are coming, but they won't change the face of international payments and they won't dethrone the dollar.
Ukraine risks losing all Russian land it seized within months, U.S. says
Ukrainian soldiers carry the coffins of three comrades killed in recent fighting in eastern Ukraine during their funeral in the western city of Lviv on Dec. 20.
Japanese Princess Kako turns 30
As an adult member of the Imperial Family, Princess Kako has performed various official duties at home and abroad this year.
South Korea's worst plane crash in decades leaves 179 dead
Rescue personnel are seen near the tail section of a Jeju Air Boeing 737-800 series aircraft after the plane crashed and burst into flames at Muan International Airport in Muan, South Korea, on Sunday.
U.S. military coordination unit eyed in central Tokyo
A Self-Defense Forces soldier from a Patriot Advanced Capability-3 missile unit takes part in a drill at Yokota Air Base in Fussa, western Tokyo, in August 2017.
Shohei Ohtani ends blockbuster year with baby announcement
Dodgers star Shohei Ohtani and his wife, Mamiko Tanaka, attend a Lakers game in Los Angeles on Dec. 8.
Japan’s weather in 2024: Record temperatures hurt people’s health and wallets
People cover themselves with umbrellas during a hot summer day in Tokyo's Ginza district in August. Temperatures shot up in early July, even before the official end of the rainy season, and the high temperatures persisted well into the fall.
How Hokkaido quietly became a culinary treasure trove in 2024
The central Hokkaido city of Asahikawa made headlines this year when one of its suburbs was named as the best place to live in Japan — a ranking earned in part due to the community's many outstanding restaurants and cafes.
Bling-Bang, baby: The J-pop soundtrack of 2024
Hip-hop duo Creepy Nuts' uptempo “Bling-Bang-Bang-Born” quickly became a TikTok favorite after its release days into 2024, which helped turn the song into a Billboard Japan Hot 100 topper for 19 weeks before rising up viral streaming charts around the world.
Shohei Ohtani ends blockbuster year with baby announcement
Dodgers star Shohei Ohtani and his wife, Mamiko Tanaka, attend a Lakers game in Los Angeles on Dec. 8.
Flu cases surge above ‘warning’ levels in much of Japan
Authorities are calling for utmost vigilance as Japan heads into the New Year holiday season, when many people plan getaways.

Podcast

One of the many entrances to the Kabukicho neighborhood in Tokyo’s Shinjuku Ward.
Kabukicho: Tokyo’s ‘stadium of desire’

Longform

Members of the Wajima City Morning Market Association pose for a group photograph on the site where the market once stood.
In the wake of disaster, the revival of Wajima's market brings hope
By Alex K.T. Martin

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