Ideas to Action:

Independent research for global prosperity

Views from the Center

CGD experts offer ideas and analysis to improve international development policy. Also check out our Global Health blog and US Development Policy blog.

 

A Development Perspective on China’s Currency—And a Fresh WTO Solution

My colleage Arvind Subramanian published an intriguing Op-Ed in the Financial Times this week. In “The Weak Renminbi is Not Just America’s Problem” Arvind notes that the undervalued Chinese currency is a global problem that requires a multilateral response. He then argues persuasively that neither the United States nor the IMF can be expected to persuade China to revalue its currency. Instead, he says, such action should come from the WTO.

A Green Fund: From the IMF, George Soros, and the Government of Mexico

On January 30 at the World Economic Forum in Davos, Dominique Strauss-Kahn, the Managing Director of the IMF, announced a possible new initiative – a multi-billion dollar Green Fund (that name is popular – see below) that would help developing countries finance the measures needed to tackle climate change – possibly with partial funding through issuance by the IMF of new Special Drawing Rights (SDRs).

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