Economics

Event

Automation, Job Loss, and the Welfare State

Speaker: Jody Miller
Speaker: Eduardo Porter
Speaker: Heidi Shierholz
Presider: Susan Lund

Experts explore the potential for mass job loss created by technological advances and, in turn, the possible need for a large welfare state to care for an increasingly underemployed population.

See more in Global; Labor; Trade

Other Report

Global Economics Monthly March 2017

Author: Robert Kahn

Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn writes that Greece and its creditors are again locked in a showdown over reforms, cash, and debt relief. Another cliff-hanger ahead of heavy July debt payments looks likely. Extend-and-pretend is a dead end for Greece and an increasingly populist Europe, and a more ambitious agreement seems ruled out by bailout fatigue in creditor countries. Markets are once again underestimating the risks of “Grexit.”

See more in Europe; Economics

Article

How North Korea Evades UN Sanctions Through International "Front" Companies

Author: Scott A. Snyder
Forbes

North Korean sanctions evasion has largely eviscerated the intent and impact of UN sanctions resolutions designed to block international financial and material support for North Korean nuclear and missile development efforts. Aside from the obvious Chinese loophole, the assassination of Kim Jong Nam has shone a bright light on another major portal for North Korean illicit actions and sanctions evasion: Malaysia.

See more in North Korea; Weapons of Mass Destruction; Sanctions

Testimony

Options for U.S. Policy in Venezuela

Author: Shannon K. O'Neil

Shannon K. O’Neil testified before the U.S. Senate Committee on Foreign Relations, addressing the ongoing crisis in Venezuela and proposing U.S. policy options aimed at combatting the political, economic, social, and humanitarian crises in the country. She called for targeted sanctions against human rights abusers, drug traffickers, and corrupt officials, a concerted effort to rally Venezuela’s South American neighbors in condemning Venezuela’s authoritarianism, and how the United States should prepare to help a new and more receptive Venezuelan government in the future.

See more in Venezuela; Corruption and Bribery; Economics

Op-Ed

Europe or Anti-Europe?

Author: A. Michael Spence
Project Syndicate

Since the 2008 financial crisis, the conventional wisdom has been that a long, difficult recovery for eurozone economies will eventually lead to strong growth. But this narrative is losing credibility.

See more in Europe; Economics

Article

Trade, Social Preferences and Regulatory Cooperation

Authors: Thomas J. Bollyky and Petros C. Mavroidis
Journal of International Economic Law

Global value chains have changed the way that the world trades. The World Trade Organization (WTO) should embrace the confluence of shared social preferences and trade, where it may exist such as digital trade, food and drug safety, and climate smart-agriculture, as a motivation for advancing international regulatory cooperation. To do that, changes to the corporate governance of the WTO are needed to facilitate the use of plurilateral agreements and to multilateralize progress already occurring bilaterally and regionally.

See more in Global; Trade; International Organizations and Alliances

Op-Ed

Sorry, Trump, but America’s Economy Is Already Pretty Great

Author: Sebastian Mallaby
The Washington Post

President Trump asserts that the U.S. economy is a disaster and that he alone can fix it. The truth is that the U.S. economy is doing better than most Americans realize, and activist attempts to fix what ain’t broke are one of the gravest threats to it. What’s at stake is not simply that the president is vague or wrong about the facts. It’s that bad facts make for bad policy.

See more in United States; Economics

Article

Trump May Threaten a Trade War Over NAFTA, but His Options Are Limited

Author: Edward Alden
World Politics Review

When then-President Bill Clinton signed the North American Free Trade Agreement in a White House ceremony in December 1993, he called it “a defining moment” for the United States and praised Mexico and Canada as “our partners in the future that we are trying to make together.” All three countries had made what then seemed like an irreversible decision to marry their economic futures. Yet today, less than a quarter-century later, those bonds are badly fraying.

See more in Americas; Trade

Article

Of Debt and Detriment

Authors: Benn Steil and Emma Smith
Weekly Standard

Benn Steil and Emma Smith show how China mirrors the U.S. “exorbitant privilege” from minting the world’s primary reserve currency. While the United States is deeply indebted to the rest of the world, it still earns far more abroad than it pays out. China, in contrast, has become the world’s largest creditor while paying foreigners far more than it receives. Steil and Smith argue that China is making itself vulnerable to financial crisis by massively subsidizing its geostrategic objectives.

See more in China; United States; Economics

Op-Ed

Trump’s Manufacturing Tactics Could Backfire

Author: Edward Alden
Journal Sentinel

Donald Trump came to Washington determined to shake up America’s economic relations with the world, to pursue what he has unapologetically called an “America first” strategy “to benefit American workers and American families." At the heart of that strategy is restoring manufacturing to its former glory, writes Edward Alden. 

See more in United States; Manufacturing

News Release

Washington Must Rebuild Trust With Silicon Valley to Meet Cyber Threats, Argues Segal in New Report

Cyber threats are escalating in sophistication and magnitude, but mistrust between Washington and Silicon Valley continues to stymie progress on cybersecurity. In a new Council Special Report, Adam Segal examines the security risks exacerbated by the divide between government and the technology community and offers policy recommendations to help restore trust.

See more in United States; Russia and Central Asia; Cybersecurity; Business and Foreign Policy