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Perhaps the most defining characteristic of the global economy today is the rise of emerging market economies (EMEs). Many states have experienced rapid economic growth over the past two decades that has led to an increasing share of global wealth. Such dramatic changes are highly relevant because they raise important issues about the distribution of global monetary and fiscal power. As the EMEs have gained importance in the global economy, their influence and significance have grown across a wide range of policy domains. One particularly relevant example is the increasingly critical role...

Perhaps the most defining characteristic of the global economy today is the rise of emerging market economies (EMEs). Many states have experienced rapid economic growth over the past two decades that has led to an increasing share of global wealth. Such dramatic changes are highly relevant because they raise important issues about the distribution of global monetary and fiscal power. As the EMEs have gained importance in the global economy, their influence and significance have grown across a wide range of policy domains. One particularly relevant example is the increasingly critical role...