This report originally appeared in the Straits Times.

China and Singapore share longstanding and broad-based bilateral relations. Singapore's founding prime minister Lee Kuan Yew visited China 33 times over 37 years, witnessing China's extraordinary progress.

Today, China is firmly entrenched in the era of the "Four Great New Inventions", namely the high-speed railway, e-commerce, mobile payment and the sharing economy. When Prime Minister Lee Hsien Loong visited China again recently, he must have had some different and impressive experiences.

Here they go again.  Despite the Republicans’ control of the presidency and both houses of Congress, their internal divisions keep on frustrating their plans to accomplish anything of consequence. So, the most polarizing GOP president since Abraham Lincoln has come up with a startling work-around:  Cut deals with the Democrats on selected major matters, including funding the government, raising the debt limit and, perhaps soon, legalizing the Dreamers.

Here is my essay on the Foreign Affairs website on how Trump was forced to back down on his plan to withdraw from KORUS—at least for now.

The first in a series on lessons of the global financial crisis.

The financial crisis showed up the defects of monetary models. These in turn reflected a flawed idea of money. That is why central banks failed to anticipate the crisis and could not deal with it effectively when it arrived. That is the message of The Money Trap.

Trump administration officials and GOP leaders in Congress are still putting together their tax plan. Nevertheless, the early signs point to decisions that could sink the project or produce changes that would jeopardize economic growth.

This is my keynote address to a Workshop on Federal Relations and Tax Reform hosted by the University of Adelaide’s School of Economics, in Adelaide on 29th August. Download the full presentation here.

This year, Japan’s governance reform drive will either keep going, or run out of steam. Judging from the amendment of the Company Law that is now underway by an advisory council of the Ministry of Justice (MOJ), the latter is likely.

Strikingly absent is a clear over-arching vision of the most important themes that amendment of the Company Law should address now that the country has a corporate governance code. In other words, what is missing, that can only be addressed via the Company Law?

The Federal Reserve Board of Kansas City's annual economic symposium has begun in Jackson Hole this evening. The agenda for this year's meeting "Fostering a Dynamic Global Economy" has just become available and may be found here.