The dollar rose by about 35 percent in real terms from 1995 through the end of 2001, supporting the booming US economy of the late 1990s but pushing the current account deficit to a record high of almost 5 percent of GDP. This special report provides alternative views of how large a dollar...

This Special Report looks at the long-run prospects for the international economic position of the United States, with particular focus on the likely evolution of the current account deficit and prospective foreign financing for it. Its goal is to provide a fundamental framework for the...

Building on the scholarship of the highly successful 2003 volume, Dollar Overvaluation and the World Economy, this book assesses the progress that has been made to date in correcting the sizable misalignments of key national currencies that developed in the late 1990s and early 2000s. The book...

Koreans living in the United States have generated an increase of about 15 to 20 percent in trade between the United States and Korea. This is one of the surprising conclusions reached in this special report, which, upon the 100th anniversary of the migration of Koreans from their homeland,...

The Asia Pacific Economic Cooperation (APEC) Forum has agreed to achieve "free and open trade and investment" in the Asia Pacific region by 2010, for the industrial countries that account for most of its trade, and by 2020 for the rest. It has also launched a wide range of other initiatives to...

Based on a conference held in September 2005 on the future of the International Monetary Fund, this important new book includes an overview of the challenges facing the IMF today. In addition, the authors offer a wide range of views on four areas: the international monetary system and the IMF...

The North Korean economy cannot sustain its population. Absent fundamental economic reforms, it will never be able to do so. Hence North Korea will require sizable external support for the foreseeable future. South Korea, China, Japan, and the United States have been willing to provide this...

Based on a conference held in September 2005 on the future of the International Monetary Fund, this important new book includes an overview of the challenges facing the IMF today. In addition, the authors offer a wide range of views on four areas: the international monetary system and the IMF...

The end of the 20th century will mark the beginning of a new era for the world trading system. More than 130 member countries of the World Trade Organization (WTO) will begin negotiations in 1999 on a broad range of subjects, including agriculture, services, intellectual property, and trade and...

Japan is only one of many industrialized economies to suffer a financial crisis in the past 15 years, but it has suffered the most from its crisis--as measured in lost output and investment opportunities, and in the direct costs of clean-up. Comparing the response of Japanese policy in the 1990s...