How is innovation competition exacerbating global overcapacity?
The world is moving into a period of entrenched manufacturing overcapacity, threatening deflation and stagnant growth. Over the past two decades, China has emerged as
The ripple beyond borders: Indirect effects of US export controls on Japanese firms
As part of the ongoing US-China trade war, since 2020 the US has restricted the exports of cutting-edge semiconductors from third countries to Huawei. This
US-China high-tech friction and Japan’s response: Implications from a comparison of innovation processes
The competition being fought between the US and China in cutting-edge technology fields friction is also affecting basic research activities at universities and other public
In the new geopolitical context, Europe’s banking discussions need to go beyond competitiveness
Europe has recently pivoted to regulatory simplification with the aim to boost competitiveness. This column argues that in banking the debate needs to go beyond
Europe must not waste its currency moment
Escalating geopolitical tensions, trade wars, and volatile policy shifts are reshaping the rules of global commerce and finance and bringing the dominance of the US
The macroeconomic effects of introducing a central bank digital currency
Central bank digital currencies are gaining traction as a potential innovation in central banking, with numerous countries considering their implementation. However, given the limited real-world
Powering the energy future of Europe and Central Asia
The prosperity and economic transformation of Europe and Central Asia (ECA) hinge on making energy reliable and affordable for all. Across the region, many countries
Unlocking energy, jobs and opportunity for Africa’s growing young population
At a workshop in Marimauta Village, Zimbabwe, business is booming. Local entrepreneurs drop by to commission bespoke machinery. A solar-powered maize processing machine serves farmers
When supply shocks to essential inputs spur innovation: Lessons from the global rare earths disruption
Trade and industrial policies designed to support domestic industries can unintentionally kindle technological progress abroad. This column examines the case of rare earth elements –
Tax incentives for R&D can spur innovation and growth—when done right
As the debate around industrial policy intensifies, there is broad consensus on the rationale for government support to encourage private sector innovation. Economy-wide returns from
