Finance

In China’s Credit Ratings, Democracies Pay a Price

Data from Chinese firms shows a Beijing-dominated world would be a financial boost for autocrats.

A investor monitors stock prices at a securities company in Hangzhou in China's eastern Zhejiang province on October 18, 2018.

The United States Is Going After China’s Banks

Using the financial 'death penalty' may be dangerous overreach.

Lower Manhattan in New York City on Oct. 30, 2012, after Hurricane Sandy. Eduardo Munoz/Reuters

Why Central Banks Need to Step Up on Global Warming

A decade after the world bailed out finance, it’s time for finance to bail out the world.

Foreign Policy illustration/Getty Images

To Fight Terrorists, Follow the Money

Prosecuting money launderers is the best way to stamp out terrorism and corruption.

German Chancellor Angela Merkel welcomes Managing Director of the International Monetary Fund (IMF) Christine Lagarde as she arrives to attend the G20 summit in Hamburg, northern Germany, on July 7, 2017.

Christine Lagarde Won, but This Isn’t a Game

Europe is celebrating new leadership, but its central bank will have to confront problems that have no easy answers.

Facebook CEO Mark Zuckerberg speaks during the annual F8 summit at the San Jose McEnery Convention Center in San Jose, California.

Facebook’s New Currency Has Big Claims and Bad Ideas

Libra is an ideological project, not a practical one.

A photo illustration of euro, U.S. dollar, and British pound notes on Oct. 13, 2017.

Europe’s Dream: Escaping the Dictatorship of the Dollar

Trump’s hostile behavior is reinvigorating efforts to turn the euro into an alternative to the world’s dominant currency. If only the Europeans could find some way to do it.

Egyptian President Abdel Fattah al-Sisi meets with Managing Director of the International Monetary Fund Christine Lagarde in Hangzhou, China, on Sept. 3, 2016.

Egypt’s Economy Isn’t Booming. It’s Collapsing.

Abdel Fattah al-Sisi has sold his country as an investment destination with the IMF’s help—but the living standards of ordinary Egyptians are plummeting as elites line their pockets.

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This Banking Fraud Shows How Shady China’s Economy Remains

Beijing promises reforms, but won't take the steps that really matter.

A man poses with replica prints of the demonetized 500- and 1,000-rupee notes in Mumbai on Nov. 20, 2016.

India’s $7 Billion Election

How the vote got so expensive, and what it says about the country’s democracy.

Several hundred white supremacists carrying tiki torches march through the University of Virginia campus in Charlottesville on Aug. 11, 2017. (Evelyn Hockstein/For The Washington Post via Getty Images)

Neo-Nazis Bet Big on Bitcoin (And Lost)

How the far-right's failed cryptocurrency gamble became a bad joke for the Christchurch killer.

Police seize a hoard of cash in Salto del Guairá, Paraguay on Feb. 14, 2017. (Stringer/AFP/Getty Images)

Paraguay Is a Fiscal Paradise for Terrorists

The South American country needs to do a better job patrolling its financial system—or face the consequences.

iStockphoto/Foreign Policy illustration

Forget Bitcoin, Try Your Mattress

Cryptocurrency is about as safe as keeping your money in a sock under someone else’s bed.

A woman walks past a currency exchange shop in Tehran's grand bazaar on Nov. 3, 2018.

Can a New Currency End Tehran’s Economic Woes?

The Central Bank of Iran wants to take four zeros off the rial—but redenomination won’t work miracles.

U.S. President Donald Trump delivers his first State of the Union address in Washington on Jan. 30, 2018. (Win McNamee/AFP/Getty Images)

Welcome to the World’s Least Ugly Economy

Despite inequality, debt, and a tariff war, the U.S. economy is still the strongest.

President of Turkey Recep Tayyip Erdogan addresses the press during the Argentina G20 Leaders' Summit 2018 on Dec. 1 in Buenos Aires. (Daniel Jayo/Getty Images)

Erdogan’s Anti-Semitism Will Sink Turkey’s Economy

The Turkish president’s racist conspiracy theories are a threat to economic stability.

Iranian members of parliament display their disagreement over a bill, one of four put forward by the government to meet demands set by the international Financial Action Task Force,  in Tehran on Oct. 7. (Atta Kenare/AFP/Getty Images)

Sanctions Are Just the Beginning for Iran

The economic blow to Tehran will be compounded if it fails to comply with global financial transparency rules.

Sudanese Foreign Minister Al-Dirdiri Mohamed Ahmed gives a press conference in Khartoum on June 24. (Ashraf Shazly/AFP/Getty Images)

Trump Administration Gives Sudan a Way to Come in From the Cold

The United States should stop listing Sudan as a state sponsor of terrorism, Sudanese foreign minister tells FP, as Khartoum seeks to boost its crumbling economy.

A collection of coins from all over the world is pictured in Milan, Italy, on Dec. 9, 2011. (Giuseppe Cacace/AFP/Getty Images)

Financial Crimes and Punishment

China is now in charge of one of the world’s most important watchdogs. Here’s how it is treating allies like Pakistan.

Ships in the Port Louis harbor in Mauritius on Dec. 25, 2015. (T. Vale/Getty Images)

African Governments Are Paying for the World Bank’s Mauritius Miracle

Ghost offices on the small island provide legal but questionable means of siphoning tax dollars away from poor countries and into the pockets of the global elite.

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