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Foreign Affairs Article

Big Ben

Author: Adam S. Posen

The biggest revelation offered by Ben Bernanke’s memoir of his time as chair of the U.S. Federal Reserve is just how much the public, the media, and especially elected officials have misunderstood the real lessons of the 2008 financial crisis and the subsequent Great Recession—events that defined Bernanke’s tenure, which began in 2006 and ended in 2014. 

See more in United States; Financial Crises

Foreign Affairs Article

The Clean Energy Revolution

Authors: Varun Sivaram and Teryn Norris

If the world is to avoid climate calamity, it needs to reduce its carbon emissions drastically by the middle of this century—a target that is simply out of reach with existing technology. Varun Sivaram and his co-author present the case for a massive investment in clean energy research and development to reach that goal. 

See more in Global; Renewable Energy

Foreign Affairs Article

The IMF’s Next Five Years

Author: Robert Kahn

In the next five years, the International Monetary Fund (IMF) will face new challenges as it struggles to come to terms with a rapidly changing global marketplace and with lending rules poorly suited for the crises the institution will likely face. These challenges will force the IMF to scrutinize and adjust its lending rules. A broader issue is also at play: financial markets are becoming bigger more quickly than the institution’s resources are, and IMF rescue alone may be insufficient in the future . How the financing burden is shared with other official creditors will help determine whether the fund is an effective leader of the global effort to prevent and resolve economic crises in the coming decades.

 

See more in Global; International Finance; International Organizations and Alliances

Foreign Affairs Article

How to Build an Alliance

Authors: Ashlyn Anderson and Amy J. Nelson

The U.S.-India defense relationship has entered a new phase that includes the joint development and manufacturing of defense equipment. Both the United States and India stand to benefit from defense collaboration, but the risks of technology transfer involved in the projects require both sides to be clear about their expectations, write Ashlyn Anderson and Amy J. Nelson.

See more in United States; India; Defense Strategy

Foreign Affairs Article

Beyond Break-Even Prices

Author: Michael A. Levi

When oil prices plunged in 2014, many analysts predicted that major exporters would have to drastically cut supply or else risk fiscal and geopolitical instability. Michael Levi explains why these predictions have been proven wrong.

See more in Global; Oil; Financial Markets

Foreign Affairs Article

Digital Counterinsurgency: How to Marginalize the Islamic State Online

Author: Jared Cohen

The Islamic State, or ISIS, is the first terrorist group to hold both physical and digital territory: in addition to the swaths of land it controls in Iraq and Syria, it dominates pockets of the Internet with relative impunity. But it will hardly be the last. Although there are still some fringe terrorist groups in the western Sahel or other rural areas that do not supplement their violence digitally, it is only a matter of time before they also go online.

See more in Syria; Global; Cybersecurity; Counterterrorism

Foreign Affairs Article

Iran's ISIS Trap

Authors: Ray Takeyh and Reuel Marc Gerecht

The Islamic Republic of Iran has no real intention to defeat the self-proclaimed Islamic State, argues CFR’s Ray Takeyh with coauthor Reuel Marc Gerecht. The Islamic State’s exacerbation of sectarian divisions is advantageous to Iran as it continues to manipulate Sunni-Shiite relations to extend its power and help its allies.

See more in Iran; Terrorist Organizations and Networks