Should we worry about income gaps within or between countries?

At the beginning of classes every autumn, I tease my students with the following question: Is it better to be poor in a rich country or rich in a poor country? The question typically invites considerable and inconclusive debate. But we can devise a more structured and limited version of...

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Asia's multilateral balancing act

After World War II, Asia emerged from years of conflict and centuries of colonialism. The United States quickly became the main guarantor of regional security, signing bilateral defense treaties and establishing preferential trade and investment relationships with its Asian allies - in particular the Philippines, Australia, Japan, South Korea, and...

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Rejuvenating retail banking

Despite its promise retail banking has fallen short of its full potential in Bangladesh. Talking to bankers one gets the impression they are resting on their laurels. The fact remains however that, giants like HSBC have closed down branches and curtailed consumer banking perhaps to concentrate on trade finance, their...

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