On their own, tariff and trade barriers, if viewed as transitory negotiating tactics, will not significantly change global investment patterns or the… — Michael Spence Chains Copy Share Image
For physical goods, there are costs associated with logistics and lead times, owing to inventories and poor forecasts of the market. With… — Michael Spence Investing Copy Share Image
Actions aimed at supporting deleveraging and balance-sheet repair - such as recognizing losses, writing down assets, and recapitalizing banks - carry longer-term… — Michael Spence Benefits Copy Share Image
For highly indebted governments, low interest rates are critical to keep debt levels sustainable and ease pressure to restructure debt and recapitalize… — Michael Spence Achieve Copy Share Image
Developing economies may not have much control over the headwinds that they face today, but that does not mean that they are… — Michael Spence Control Copy Share Image
China's economic transformation began with the introduction in the 1980s of market incentives in the agricultural sector. These reforms were followed by… — Michael Spence Change Copy Share Image
One way to measure the size of a company, industry, or economy is to determine its output. But a better way is… — Michael Spence Better Copy Share Image
The combination of a workable basic formula and the capacity to improve over time is what one hopes for in any aspect… — Michael Spence Business Copy Share Image
Labor, no matter how inexpensive, will become a less important asset for growth and employment expansion, with labor-intensive, process-oriented manufacturing becoming a… — Michael Spence Developing Copy Share Image
With external help, even the countries ravaged by World War II recovered. — Michael Spence Even Copy Share Image
Productivity gains are vital to long-term growth because they typically translate into higher incomes, in turn boosting demand. That process takes time,… — Michael Spence Growth Copy Share Image
