Globalization and Its Discontents

Baptism of fire for IMF chief Lagarde

The appointment of French finance minister Christine Lagarde as managing director of the International Monetary Fund preserves the convention that a European gets the job while an American runs the World Bank.

Friday, 1 July, 2011, 12:00am

Emerging powers need to prepare for a bigger role

Talk of reform rarely results in concrete action at entrenched institutions until their very survival or legitimacy is under threat. Critics have argued for years that the International Monetary Fund must review its arcane voting rights to better represent the growing influence of emerging economies. Belatedly, there appears to be a significant movement in that direction.

15 Feb 2009 - 12:00am

IMF should show greater flexibility

The ever-expanding list of casualties from the global financial meltdown has gone beyond banks and companies to countries. Eastern Europe and the former Soviet Union have been especially hard hit. Nations as dissimilar as Argentina and Iceland have also been brought to their knees. Plummeting oil prices have forced petroleum-rich states to reassess previously buoyant outlooks.

24 Oct 2008 - 12:00am

Asia fails to heed key lesson of crisis

Ten years after Thailand devalued the baht, plunging East Asia into the depths of a devastating economic crisis, the region has recovered its economic confidence.

Today, emboldened by Asia's high growth rates and its vast stock of foreign reserves, regional governments are rediscovering their assertiveness and are boldly demanding a bigger say in how the world works.

3 Jul 2007 - 12:00am

New cast for an outdated movie

Asia is popping up all over the US map these days. It's almost a revolution in consciousness. Let's start with the fun stuff. Note, for example, that the femme fatale in the big American movie Miami Vice is played by the redoubtable Gong Li . In Mission: Impossible III, the lead female role is more than capably filled by the awesome Maggie Q, who occupies the attention of Tom Cruise.

4 Sep 2006 - 12:00am

IMF claims region ignored warning

The International Monetary Fund yesterday delivered an apparent retort to intense criticism in recent weeks that it had consistently failed to warn in advance of impending economic crises, despite its access to privileged information.

22 Dec 1997 - 12:00am