One of the surprises of the 2008 global financial crisis is that the “great recession” that followed did not trigger much of a protectionist backlash. Developments this week suggest that, in the absence of more enlightened and coordinated political leadership, this may be changing. As output collapsed after the financial system’s “sudden stop” in the fall of 2008, and …

  Many things have gotten harder as the world settles into a protracted spell of low oil prices and sluggish growth — from avoiding deflation to creating jobs. One thing has gotten easier, as well as more urgent: eliminating fossil-fuel subsidies. Governments have long paid lip service to this idea. The G-20 has been promising to phase out fuel subsidies …

Never before has a G20 summit faced such diverse and gruelling challenge as the September 4-5 Hangzhou meet encounters. Themed aptly as ‘Towards an Innovative, Invigorated, Interconnected and Inclusive World Economy’, the world is eagerly awaiting the event, hoping it delivers something beyond just pledges — A strategy towards an effective global economic synergy. The meeting comes at a very …