Real GDP growth was strong in 2017, fueled in part by a sizable credit impulse.' This year, the credit impulse will likely be negative.' We forecast a

China's foreign exchange reserve recovered in 2017, after a decline of $1 trillion over two and half years. This was entirely due to the reversal of f

Global trade tensions are on the rise, "¦ reflecting persistent current account imbalances. The US current account translates into a 10% Dollar overva

Trade policy is becoming a key area of focus for the administration. We examine the adjustment in the US current account in recent years, looking t