World Bank

For a host of reasons, other countries would love to free their economies from the stranglehold of the U.S. dollar's influence, especially now, when the Fed's stimulus actions are pushing the dollar lower, and everything else higher. Global finance expert Peter Cohan has a simple answer: The Mondo.

Investors take note: Despite the calls for order, national policymakers are dealing with an increasingly haphazard scenario loaded with counterproductive results and unintended consequences. The result could be a slide toward protectionism.

Europe's shakiest economies managed to ride out a sovereign debt crisis this spring with a lot of help from their more stable neighbors and the major central banks. But new data suggests we may soon see a replay of the debt default crisis.

Banking regulators tested the soundness of 91 European banks this week to see if they could withstand a financial crisis, and only seven failed to pass muster. But some analysts say the tests may have been too easy, and wonder what would happen if a real "worst-case scenario" hit.

The World Bank has banned British book publisher Macmillan from receiving any Bank-financed contracts between now and 2016, as a result of bribes Macmillan paid to secure a textbook deal in South Sudan.

China's economic growth is expected to accelerate to near double-digit levels this year, as exports recover and household consumption remains strong, according to the World Bank.

Of the many ironies of last week's earthquake in Haiti, this one is the cruelest: In the months before the disaster, international officials believed the outlook for the Western Hemisphere's poorest country was starting to improve. U.S. and South Korean firms were considering expanding operations there.

The 6.1 aftershock in Haiti on Wednesday underscores the multitude of challenges facing the country, where the International Monetary Fund estimates that the disaster could cost much more than the $900 million in damage from 2008's hurricanes.

After the rescue stage is completed, Haiti will need a Marshall Plan like one implemented in Europe, post-World War II. But this time, there will need to be a large corporate presence to help make the island nation a land of opportunity and hope.

Unemployment, which jumped to a 26-year high of 10.2% in October, will continue to be a dark cloud looming over the U.S. economy through at least next year, according to World Bank President Robert Zoellick. "If you have large-scale unemployment remain, say about [the] 10% level you have in the...