Republicans need to start taking foreign policy more seriously, thinking hard about the thorny task of managing a superpower and not leaving it as a plaything for right-wing interest groups. Failure to do so quickly could be catastrophic, ceding this ground to Democrats for the a generation at least.

Daniel Drezner assesses international financial governance and concludes that, contrary to conventional wisdom, evidence suggests that global governance structures responded to the 2008 financial crisis robustly.

In uncertain times, grand strategies are important because they help others interpret a country's behavior.

What new forms of international financial and monetary coordination and regulation are required in light of the global economic crisis? How should the United States work to reform the Bretton Woods Institutions? Should the BRICs and other developing countries have an increased role at the IMF and World Bank? What are the preconditions for a U.S.-China bargain on global monetary and financial issues?

Watch experts discuss how international financial institutions can work together to mitigate the financial crisis, as well as reforms that could make these organizations more effective.

This session was part of the CFR conference: The United States and the Future of Global Governance, which was made possible through the generous support of the Robina Foundation.

Listen to experts discuss how international financial institutions can work together to mitigate the financial crisis, as well as reforms that could make these organizations more effective.

This session was part of the CFR conference: The United States and the Future of Global Governance, which was made possible through the generous support of the Robina Foundation.

Professor Daniel Drezner discusses his March/April 2007 Foreign Affairs arguing that controversies over the war in Iraq and U.S. unilateralism have overshadowed a more pragmatic and multilateral component of the Bush administration’s grand strategy.

Controversies over the war in Iraq and U.S. unilateralism have overshadowed a more pragmatic and multilateral component of the Bush administration's grand strategy: its attempt to reconfigure U.S. foreign policy and international institutions in order to account for shifts in the global distribution of power and the emergence of states such as China and India. This unheralded move is well intentioned and well advised, and Washington should redouble its efforts.

This Critical Policy Choice, in the form of a memorandum to the president, suggests two alternative approaches the United States could take to trade policy.

Trade accounts for nearly a quarter of U.S. gross domestic product. In recent decades, trade has lifted hundreds of millions of people out of poverty around the world. Furthermore, trade policy inevitably affects national security, employment stability, environmental protection, labor standards, health issues, immigration, and monetary policy—all of which makes the recent implosion of the Doha trade talks all the more significant.