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Paola Subacchi

Paola Subacchi

46 commentaries
4 videos & podcasts

Paola Subacchi, Professor of International Economics at the University of London’s Queen Mary Global Policy Institute, is the author of The Cost of Free Money  (Yale University Press, 2020) and the recent report, China and the Global Financial Architecture: Keeping Two Tracks on One Path.

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  1. The Great Global Crack-Up
    subacchi41_ViaframeGetty Images_worldcrackingglobebreaking Viaframe/Getty Images

    The Great Global Crack-Up

    Mar 8, 2023 Paola Subacchi examines the risks generated by the geopolitics-fueled backlash against economic globalization.

  2. China’s New Direction
    op_subacchi5_CFOTOFuture Publishing via Getty Images_chinadigitalcurrencyecny CFOTO/Future Publishing via Getty Images

    China’s New Direction

    Jan 6, 2023 Paola Subacchi considers the implications of a systemically important country turning its back on the system.

  3. Will Italy’s Turmoil Push Europe Back to the Brink?
    subacchi40_Antonio MasielloGetty Images_italy politics Antonio Masiello/Getty Images

    Will Italy’s Turmoil Push Europe Back to the Brink?

    Jul 26, 2022 Paola Subacchi worries that Mario Draghi’s downfall may threaten the country’s fiscal stability – and the eurozone’s survival.

  4. How to Engage with China
    subacchi39_JIM BOURGAFP via Getty Images_yellenchina Jim Bourg/AFP via Getty Images

    How to Engage with China

    May 27, 2022 Paola Subacchi cautions against efforts to limit multilateral cooperation to countries with shared values and principles.

  5. Italy's Draghi Recovery at Risk
    subacchi38_Alessandra Benedetti - CorbisCorbis via Getty Images_draghi Alessandra Benedetti - CorbisCorbis via Getty Images)

    Italy's Draghi Recovery at Risk

    Jan 17, 2022 Paola Subacchi wonders whether the upcoming presidential election will doom the country’s progress toward economic renewal.

  1. buiter45_Jabin BotsfordThe Washington Post via Getty Image_jeromepowell Jabin Botsford/The Washington Post via Getty Images

    Price Stability vs. Financial Stability?

    Willem H. Buiter

    If the US Federal Reserve raises its policy interest rate by as much as is necessary to rein in inflation, it will most likely further depress the market value of the long-duration securities parked on many banks' balance sheets. So be it.

    thinks central banks can achieve both, despite the occurrence of a liquidity crisis amid high inflation.
  2. frankel145_ Richard Baker  In Pictures via Getty Images_exchangerates Richard Baker/In Pictures via Getty Images

    Fifty Years of Floating Currencies

    Jeffrey Frankel explains why the shift toward exchange-rate flexibility after 1973 was not a policy failure, as many believed.
  3. harrington34_Drew AngererGetty Images_avril haines Drew Angerer/Getty Images

    What Do America’s Spies Really Think About China?

    Kent Harrington thinks the intelligence community’s annual threat assessment should have delved deeper on the issue.
  4. grafton2_ SIMON MAINAAFP via Getty Images_water SIMON MAINA/AFP via Getty Images

    Waking Up to the World’s Water Crisis

    Quentin Grafton, et al. see three overarching priorities for the first global water conference in almost a half-century.
  5. benami199_BULENT KILICAFP via Getty Images_ukraine BULENT KILIC/AFP via Getty Images

    Peace Requires Betrayal

    Shlomo Ben-Ami shows why Ukraine and Russia will most likely have to pursue an unpopular endgame to stop the bloodshed.
  6. reichlin29_David L. RyanThe Boston Globe via Getty Images_svb David L. Ryan/The Boston Globe via Getty Images

    Lessons from the SVB Collapse

    Lucrezia Reichlin

    Although Silicon Valley Bank was not deemed to be systemically important, its insolvency forced the US Federal Reserve to head off systemic contagion and exposed the inadequacy of the FDIC’s partial deposit insurance regime. The financial-stability framework adopted after the 2008 crisis obviously needs another overhaul.

    considers what the bank’s failure should mean for the current financial-stability framework.
  7. foglia4_kentohGetty Images_bankingregulations kentoh/Getty Images

    It’s the Banking Regulations, Stupid

    Antonio Foglia traces the Silicon Valley Bank failure back to fundamental flaws in the prevailing governance framework.
  8. mazzucato52_Mario TamaGetty Images_water agriculture drought Mario Tama/Getty Images

    Confronting the Global Water Crisis

    Mariana Mazzucato, et al. offer a seven-point blueprint for preserving one of the planet’s most important natural systems.
  9. op_haass3_Chris HondrosGetty Images_iraqwar Chris Hondros/Getty Images

    Revisiting America’s War of Choice in Iraq

    Richard Haass considers the enduring lessons from a foreign intervention that was both ill-conceived and poorly executed.

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