Economics

News Release

Michael Levi Named Director of Maurice R. Greenberg Center for Geoeconomic Studies

The Council on Foreign Relations (CFR) is pleased to announce that Michael A. Levi, David M. Rubenstein senior fellow for energy and the environment and director of the program on Energy Security and Climate Change, has been named director of the Maurice R. Greenberg Center for Geoeconomic Studies (CGS). Founded in 2000, the CGS is one of the premier venues for informed analysis on the global economy and foreign policy—from international economic cooperation to the uses of economic statecraft, national security consequences of economic developments, and domestic U.S. economy.

See more in Global; Economics

Op-Ed

Rebooting China

Author: A. Michael Spence
Project Syndicate

A. Michael Spence urges China's leaders to be steady-handed and sensible in their foreign policy and domestic reform agendas so as to maintain the kind of economic stability necessary for complex structural changes to work their way through the Chinese economy with minimal disruption.

See more in China; Financial Markets; Economic Development

Foreign Affairs Article

Taper Trouble

Author: Benn Steil

Benn Steil's essay in the July/August issue of Foreign Affairs looks at the international consequences of U.S. monetary policy action. He argues that developing-nation governments are coming to see the need for engineering current-account surpluses and large dollar-reserve stockpiles as a means of insulating themselves against Fed-induced capital-flow whiplash. As this amounts to "currency manipulation" in the eyes of U.S. policymakers, trade tensions are apt to grow.

See more in Ukraine; United States; Monetary Policy; International Finance

Foreign Affairs Article

New World Order

Authors: Erik Brynjolfsson, Andrew McAfee, and Michael Spence

Recent advances in technology have created an increasingly unified global marketplace for labor and capital. The ability of both to flow to their highest-value uses, regardless of their location, is equalizing their prices across the globe.

See more in United States; Labor

Foreign Affairs Article

Voodoo Abenomics

Author: Richard Katz

Imagine the predicament currently facing a growing number of Japanese men in their early 30s. Despite having spent years cramming in high school and attending good colleges, many can't find a full-time job at a good company.

See more in Japan; Competitiveness

Foreign Affairs Article

Indonesia in Pieces

Author: Elizabeth Pisani

In April, voters in Indonesia's parliamentary elections shocked many observers, confounded most pollsters, and seemed to set back their own long-term interests by failing to deliver a massive victory to the main opposition party, the Indonesian Democratic Party of Struggle.

See more in Indonesia; Financial Crises

Primary Sources

United States of America v. Members of China's People's Liberation Army

The U.S. Department of Justice announced the indictment of five Chinese military hackers on May 19, 2014. Wang Dong, Sun Kailiang, Wen Xinyu, Huang Zhenyu, and Gu Chunhui were charged with computer hacking, economic espionage and other offenses directed at Americans in the nuclear power, metals, and solar products industries.

See more in United States; China; Cybersecurity; Intellectual Property