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Articles on Economy

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China and the U.S. compete to be the world’s largest economy, but the dollar dominates the yuan as a currency. peng song/Moment Collection/Getty Images

War in Ukraine might give the Chinese yuan the boost it needs to become a major global currency – and be a serious contender against the US dollar

Despite China’s economic power, the yuan lags as a major global currency. Here’s why current US interest rates and sanctions on Russia may change that.
Speaker Kevin McCarthy said the House would vote on a debt ceiling bill ‘within weeks.’ AP Photo/Seth Wenig

Speaker McCarthy lays out initial cards in debt ceiling debate: 5 essential reads on why it’s a high-stakes game

House Speaker Kevin McCarthy agreed to raise the debt ceiling – and avoid an unprecedented US default – but only if Democrats agree to freeze spending and agree to several other demands.
Ghana’s e-levy has hit traders in the country’s informal sector the hardest. Christophe Gateau/picture alliance via Getty Images

Ghana’s e-levy is unfair to the poor and misses its revenue target: a lesson in mobile money tax design

Domestic resource mobilisation cannot be achieved by over-taxing the livelihoods of the most vulnerable workers in the informal sector.
Fed chair Jerome Powell opted for a cautious approach on rates. Alex Wong/Getty Images

Federal Reserve bows to bank-crisis fears with quarter-point rate hike, letting up a little in its fight against inflation

The Fed raised rates by a quarter-point – less aggressive than had been expected before the current banking crisis, but signaling inflation is still its focus.

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