Generally, for advanced countries with deep and liquid capital markets like the United States, the best policy is to allow these markets to determine exchange rates.

Read full answer

Outside of a humanitarian crisis—such as a famine or a natural disaster—it is hard to make the case that any country deserves another's economic support. To paraphrase Britain's Lord Palmerston, countries do not have permanent friends, only permanent interests.

Read full answer

Joshua Kurlantzick discusses the China model of economic development, which he describes as, "economic liberalization without political liberalization."

American policymakers have long been concerned about the eroding U.S. advantage in educating science, technology, engineering, and math (STEM) students. With much of the assembly work for lucrative high-technology products having moved to Asia, future U.S. prosperity depends increasingly on innovating new products and techniques—innovation that requires training (or importing) a new generation of scientists and engineers.

Read full answer

The recent announcement of a BRICS development bank raised many questions. Isobel Coleman writes about the potential structure and purpose of the BRICS development bank and its implications for international development and the global economy.

In looking abroad to promote economic growth, Robert Pastor argues the United States need not go further than its two closest neighbors, Canada and Mexico. Leaders of the three countries can build off of NAFTA to create a more seamless market by negotiating a common external tariff, eliminating restrictions on transportation and services, funding new continental infrastructure, and fostering a sense of community among North Americans.

Antitrust law, which has evolved primarily through landmark Supreme Court cases, plays an essential role in the maintenance of efficient markets and promotion of long-term U.S. economic prosperity.

The exploitation of Congo's vast resources by competing elites and militaries for personal enrichment promotes insecurity and stymies development. Only very strong Western and African public outcry and a change in China's nonintervention approach might open the possibilities for change.

Read full answer

Peter Orszag outlines the obstacles that China faces on the road to becoming a high-income country and explains why other nations should take note.

Jagdish Bhagwati argues that growth can reduce poverty and that slow economic growth will hurt social development, which he also argues in his new book with Arvind Panagariya, "India's Tryst with Destiny: Debunking Myths that Undermine Progress and Addressing New Challenges."

As the United States and other Western countries continue to suspend sanctions against Myanmar, multinationals are lining up for the chance to invest in the one-time pariah. In this article for Bloomberg Businessweek, Joshua Kurlantzick argues that this gold rush is "wildly premature."

Elizabeth C. Economy says corruption and the failure to develop rule of law in China now define much of the country's political and economic life. With Xi Jinping poised to take over, the focus should be on significant political reform.

Vivek Wadhwa discusses his work with AnnaLee Saxenian of Berkeley on the critical contributions of immigrant entrepreneurs to the rise of Silicon Valley.

Vivek Wadhwa discusses his work with AnnaLee Saxenian of Berkeley on the critical contributions of immigrant entrepreneurs to the rise of Silicon Valley.

Randall Stross follows one of the summer 2011 start-ups considered by Y Combinator for the summer 2011 batch of investments from tryout to "Demo Day," to see what it takes.

Acting Secretary Blank discusses policies and investments for supporting U.S. competitiveness and job growth.

Acting Secretary Blank discusses policies and investments for supporting U.S. competitiveness and job growth.

Boeing chairman, president, and chief executive officer Jim McNerney discusses the involvement of the business community in foreign policy; U.S. global competitiveness and the challenge of balancing fiscal austerity with necessary technology and innovation investment; and Boeing's outlook for the future.

The CEO Speaker series is a unique forum for leading global CEOs to share their insights on issues that are at the center of commerce and foreign policy and to speak to the changing role of business in the international community. The series, sponsored by the Corporate Program, is one way that CFR seeks to integrate perspectives from the business community into ongoing dialogues on pressing policy issues, such as the international economic recovery, sustainable growth and job creation, and the expanding reach and impact of technology.

Terra Lawson-Remer and Joshua Greenstein say, "Many resource-rich African countries make poor use of their wealth... Instead of creating prosperity, resources have too often fostered corruption, undermined inclusive economic growth, incited armed conflict and damaged the environment."

Egypt's newly sworn in President Mohamed Morsi will have to tackle everything from setting a rocky economy back on course to combining reform efforts with placating a powerful military, says expert Daniel Brumberg.