Economics

An employee sorts Turkish lira banknotes at a bank in the town of Sarmada in Syria’s northwestern Idlib province on June 14.

Erdogan Has Hidden an Economic Disaster Deep in Turkish Banks

And he won’t be able to keep the game going for much longer.

A group of foreign women rounded up by police from karaoke bars in Thailand’s southern province of Narathiwat are taken to city hall during a campaign against human trafficking on Nov. 9, 2018.

As the Global Economy Melts Down, Human Trafficking Is Booming

Desperate families face risky job offers, dubious loans, and online predators.

A woman waits to cross a street in New Delhi on Aug. 1.

The COVID-19 Economic Crash Could Set Indian Women Back Decades

They’ve been disproportionately affected by job losses, and now new jobs may first go to men.

U.S. Senate Majority Leader Mitch McConnell is swarmed by reporters as he leaves the Senate floor on July 30 in Washington. Republicans and Democrats in the Senate remain in a stalemate as the the $600-per-week federal unemployment benefit is set to expire on Friday.

As Pandemic Rages, the United States Slashes an Economic Lifeline

Lockdowns and outbreaks have hit the poor hard—and governments worldwide are struggling.

Taiwanese President Tsai Ing-wen

Taiwan Shows How to Carefully Snip Chinese Economic Ties

Facing a hostile Beijing, Taipei has been decoupling from its biggest trade partner.

A woman waits outside a U.S. remittance collection agency in San Isidro, El Salvador, on June 10.

It Is Too Late to Save These Victims of the Pandemic

The COVID-19 catastrophe is shrinking remittances from the United States and creating a looming humanitarian disaster.

Lebanese riot police guard a bank in Beirut on April 28.

The United States Is Pushing Lebanon Further Into Iran’s Embrace

The Lebanese economy is collapsing, and the risk of conflict is rising—but Washington has failed to grasp why Iranian influence is spreading or the measures needed to stop it.

French Finance Minister Emmanuel Macron gestures during a session at the World Economic Forum (WEF) annual meeting in Davos, on Jan 22, 2016.

The Pandemic Could Be the Crisis Liberalism Needed

The future has rarely seemed bleaker for free-market democracy—but small changes can bring it roaring back.

Senator John Kerry addresses reporters October 1, 1992 at the U.S. Capitol about the release of the Senate Foreign Relations Subcommittee on Terrorism's report on the Bank of Credit and Commerce International's (BCCI) illegal financial dealings.

The Dictator-Run Bank That Tells the Story of America’s Foreign Corruption

BCCI was a kleptocratic institution whose influence reached the White House—and a model for today’s global crooks.

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Will the Coronavirus Fuel Conflict?

Projections based on economic and development data show an increased risk of internal violence in fragile states driven by rising prices and falling incomes.

People wait in line to receive food in Queens, New York, on May 11.

To Fight Inequality, the United States Needs an FDR. Can Biden Deliver?

The COVID-19 crisis could lead to a modern-day New Deal—but only if Democrats have the courage to replace failed economic policies with radical reforms.

A team of dressmakers works in a factory in Dhaka, Bangladesh, on Nov. 22, 2012.

This Is What the Future of Globalization Will Look Like

The pandemic proved, once and for all, that the world can’t be flat. But global trade can recover—if we rewrite the rules.

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Crises Only Sometimes Lead to Change. Here’s Why.

The coronavirus pandemic won’t automatically lead to reforms. Great upheavals only bring systemic change when reformers have a plan—and the power to implement it.

A protester holds a sign  during a protest against corruption and hunger amid the coronavirus pandemic outside the presidential palace in Panama City, on June 25.

Latin America’s Wave of Protests Was Historic—Then the Pandemic Arrived

The coronavirus and lockdowns have worsened the region’s economic divides—and set the stage for more political upheaval.

European Commission President Ursula von der Leyen speaks during a news conference following a virtual summit with Chinese President Xi Jinping in Brussels on June 22.

How Europe Fell Out of Love With China

EU officials speak increasingly of Beijing as a rival, not a partner. But unlike Trump, they don’t yet want a divorce.

Pedestrians are reflected in a window displaying currency exchange rates in the Iranian capital Tehran on June 22.

The East Fails Iran

Tehran pinned its economic hopes on China, India, Japan, and South Korea. But those countries have largely left the country to ruin.

Indian Prime Minister Narendra Modi shakes hands Nepal Prime Minister KP Sharma.

India Is Paying the Price for Neglecting its Neighbors

Narendra Modi came to power promising to prioritize relations with countries such as Bangladesh, Nepal, and Sri Lanka. China is taking advantage of his failure to do so.

A motorway sign on the M8 motorway advising on essential travel only on March 24 in Glasgow, Scotland.

The Great Pause Was an Economic Revolution


Governments stopped the world in its tracks during the pandemic—and our relationship to the economy will never be the same again.

People wearing face masks walk in front of a euro sign in Frankfurt am Main, Germany, on April, 24.

Germany Is Finally Ready to Spend

In the long run, the COVID-19 pandemic may change Europe’s economy for the better.

A woman selects corn for the market during the government-imposed nationwide lockdown in Kathmandu, Nepal, on May 7.

For the Rural Poor, the Coronavirus Crash Isn’t Here Yet

Prolonged lockdowns will exacerbate food and income insecurity during the agricultural lean season.