PRINCETON — The late, sharp-witted economist Michael Mussa, my first boss at the International Monetary Fund, once told me that every statistic must pass the “smell test”.

PRINCETON — In March 1985, the Wall Street Journal showered India’s new prime minister, Rajiv Gandhi, with its highest praise.

PRINCETON — Indian elites are giddy about their country’s economic prospects, and that optimism is mirrored abroad.

PRINCETON — The town of Joshimath may be nestled 1,800 meters above sea level in the Himalayas, but it is sinking fast. In early January, large cracks split homes, hotels, and roads, leaving the town’s future hanging in the balance.

BERLIN — What we care about most is often our undoing.

Next year, Germany will hold a federal election, and the new Bundestag will choose the country’s next chancellor.Whether or not Angela Merkel retains the role — at the moment, things are not looking good for her or her Christian Democratic Union (CDU) — one thing is certain: Germ

Last April, the International Monetary Fund (IMF) projected that the world economy would grow by 3.5 per cent in 2015.