International Economics

The interdependence of the British economy: a contribution to the Brexit debate

Alfredo Arahuetes and Federico Steinberg. ARI 29/2016 (English version) - 17/3/2016.

It is not easy to justify the UK’s exit from the EU on the grounds of economic arguments.

Document of interest: G20 - Communiqué: Finance Ministers and Central Bank Governors Meeting

. MI - 2/3/2016.

Final communiqué of the meeting of Finance Ministers and Central Bank Governors of the G20 countries, which took place in Shanghái on 26-27 February.

Comunicado final de los gobernadores de los bancos centrales y ministros de finanzas de los países del G20 tras la reunión celebrada en Shanghái el 26 y 27 de febrero.

How to strengthen the G20: Spain’s multilateral perspective

Miguel Otero-Iglesias. ARI 21/2016 - 25/2/2016.

In the context of slow growth, destabilising capital flows and currency wars, the G20 must develop joint solutions to overcome common problems.

China has changed the global economic order – with the help of Europe

Miguel Otero-Iglesias. Op-ed - 20/1/2016.

Ancient Chinese strategists always believed that a tripolar system is the best political configuration for stability. The same goes for global economic governance, and the three main poles (although not the only ones) should be: the US, China and the European Union.

The institutional limits to the internationalisation of the RMB

Miguel Otero-Iglesias. Op-Ed - 19/1/2016.

The recent inclusion of the renminbi in the IMF’s Special Drawing Rights is a major victory for the People’s Bank of China. Yet for a currency to be highly internationalised, the issuing country must have a stable and transparent political and legal framework.

Document of interest: World Bank - Global Economic Prospects: Spillovers amid Weak Growth (January 2016)

. MI - 13/1/2016.

Según el informe del Banco Mundial sobre las perspectivas económicas mundiales para este año, el débil crecimiento en los principales mercados emergentes afectará el crecimiento mundial en 2016. No obstante la actividad económica tendrá un repunte moderado hasta alcanzar el 2,9%. Informe completo

According to this report by the World Bank on the global economic prospects for this year, the weak growth of the main emerging markets will affect global growth in 2016. Nevertheless, economic activity will grow moderately, up to 2.9%. Full report

Weaknesses remain, but Spanish growth prospects aren’t bad

Federico Steinberg. Expert Comment 58/2015 - 4/11/2015.

A balanced assessment has to conclude that Spain’s recent economic performance has as much light as shade.

Brazil: playing with fire

Alicia García-Herrero. ARI 59/2015 - 30/10/2015.

Rattled by political turmoil and in the midst of severe stagflation, Brazil is really ‘playing with fire’. Urgent measures are needed to reduce the fiscal deficit along with key structural reforms to reduce the size of the government.

The rise of ‘Chermany’: Germany and China, the big winners in economic globalisation

Miguel Otero-Iglesias. ARI 55/2015 - 22/10/2015.

This ARI compares the evolution of the global economic presence of the Big Five European economies with the emerging economies of the BRICS and the N11.

A new multilateral bank to boost investment in infrastructure in Asia

Jorge Dajani-González. ARI 53/2015 - 22/10/2015.

The establishment of the Asian Infrastructure Investment Bank (AIIB) faces major challenges in coming months. It also offers new opportunities to re-launch economic and trade relations for Europe and Asia and for international infrastructure companies.