Other Report

Global Economics Monthly: August 2015

Author: Robert Kahn

Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that China’s request to include its currency, the renminbi (RMB), in an International Monetary Fund (IMF) currency basket, known as special drawing right (SDR), is political as much as economic in intent and effect. The inclusion would signal a milestone in China’s transition to a less-regulated economy. 

See more in China; Economics


Greece's Euro Future and U.S. Policy

Author: Robert Kahn

In his testimony before the Senate Committee on Foreign Relations' Subcommittee on Europe and Regional Security Cooperation, Robert Kahn argues that although Greece's direct trade and financial links to the U.S. economy are small and there is less of a direct systemic threat to the United States than when the crisis began in 2009, the risks are still material.

See more in Greece; Eurozone; Financial Crises

News Release

Kenneth Rogoff Joins CFR as Senior Fellow for Economics

Kenneth S. Rogoff, a Harvard University professor and former chief economist at the International Monetary Fund, will contribute his expertise to the Council on Foreign Relations as a senior fellow for economics in the Maurice R. Greenberg Center for Geoeconomic Studies. He will continue to be the Thomas D. Cabot Professor of Public Policy and Professor of Economics at Harvard University. 

See more in Global; Financial Crises; Budget, Debt, and Deficits


China's Economic Readjustment

Speaker: Nicholas Lardy
Speaker: David Daokui Li
Speaker: Gao Xiqing
Introductory Speaker: Zheng Xinli
Presider: John Bussey

Experts discuss recent developments in the Chinese economy.

See more in China; Economics


By All Means Necessary: How China’s Resource Quest Is Changing The World

Authors: Elizabeth C. Economy and Michael A. Levi
All China Review

Elizabeth C. Economy and Michael Levi explore how Chinese demand drive global commodity prices, the broader implications of the Chinese slowdown for the global economy and regional security, and consequences of China’s resource quest for the world’s resource-producing states and industries.

See more in China; Financial Markets; Environmental Policy


Media Call: Greek Bailout Agreement

Speaker: Robert Kahn
Presider: Douglas A. Rediker

Council on Foreign Relations Senior Fellow Robert Kahn breaks down the deal and explains what it means for the future of Greece and the European Union. Greece reached an agreement with European creditors that would impose harsh austerity measures in return for a financial bailout.

See more in Greece; Budget, Debt, and Deficits

Primary Sources

Euro Summit on Greece Statement

Leaders of euro member states held a special Euro Summit on Greece. On July 12, 2015, the leaders "agreed in principle that they are ready to start negotiations on an ESM [European Stability Mechanism] financial assistance programme for Greece."

See more in EU; Greece; Eurozone


Greece’s Lesson for Ukraine: More Populism, Please

Author: Stephen Sestanovich
Wall Street Journal

Can Western governments learn anything from the Greek fiasco that will produce a better result in Ukraine?  There are countless differences between the two situations, but one big similarity should worry us: In both countries an economic crisis has begotten a political crisis, and the two have begun to feed on each other.

See more in Greece; Ukraine; Financial Crises; Politics and Strategy