Economics
2014: A User's Guide to the Global Economy
A sluggish U.S. recovery. Volatility in China. Uncertainty in Europe. The global economy is struggling to pick up steam—but the year ahead may still turn out better than you think. Here’s why
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On Jan. 1, 2014, Latvia will adopt the euro, and its lats currency will be no more. Farewell to the fulsomely bearded Krišjānis Barons, the collector of folk songs who graces the 100-latu note. Goodbye to images of sailing ships and maidens, oak trees and the Daugava River. The little Baltic nation is shucking a piece of its national heritage because its leaders think that joining Europe’s somewhat troubled common currency zone will lead to more trade, investment, and prosperity. “We are looking to growth,” Finance Minister Andris Vilks told reporters in June.