This week’s G20 summit in Canada is the first leaders’ meeting since the start of the global economic recovery. While a favorable summit outcome could strengthen market confidence, world leaders continue to face several daunting challenges. In particular, three areas—addressing global imbalances, coordinating financial regulation, and combating protectionism—remain politically thorny. Global imbalances have exacerbated frailties [...]

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President Barack Obama Wednesday fired his own chosen field commander for Afghanistan, General Stanley McChrystal, and replaced him with McChrystal’s boss in the military chain of command, General David Petraeus.  Obama was right to fire McChrystal after the general and his staff made outrageous comments to a Rolling Stone reporter, with unfavorable characterizations of Vice [...]

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