U.S. President Barack Obama has promised to continue his push for Congress to approve the Trans-Pacific Partnership (TPP), despite firm opposition to the free trade agreement from both of the major candidates for president, including his former secretary of state, Hillary Clinton. “Right now, I’m the president and I think I’ve got the better argument,” he told reporters following a meeting Tuesday with Singapore’s prime minister, Lee Hsien Loong.
Experts discuss Dilma Rousseff’s impeachment trial, Brazil’s deepening economic recession, the Zika virus outbreak, and other issues facing Brazil as the country prepares to host the 2016 Summer Olympics.
CFR Senior Fellow Edward Alden and EXIM Bank Chairman and President Fred Hochberg discuss EXIM’s new global competitiveness report and the challenges facing the United States in global economic competition.
The costs of hosting the Olympics have skyrocketed in recent decades, while the economic benefits are far from clear. This has caused a shrinking of states interested in playing host and a search for options to lighten the burdens of staging the big event.
Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that summer has seemingly brought a new optimism about the Russian economy. Russia’s economic downturn is coming to an end, and markets have outperformed amidst global turbulence. But the coming recovery is likely to be tepid, constrained by deficits and poor structural policies, and sanctions will continue to bite. Brexit-related concerns are also likely to weigh on oil prices and demand. All this suggests that Russia’s economy will have a limited capacity to respond to future shocks.
“The challenge for ‘flyover cities’ such as Wichita; Lincoln, Neb.; Des Moines and Cedar Rapids, Iowa; and other places enjoying a tech-led revival is to find ways of ensuring that the benefits of their comebacks spread widely” writes CFR adjunct senior fellow Robert E. Litan.
CFR hosted a workshop to explore how globalized production patterns are evolving, the risks they face, and how companies and countries can improve compliance and resilience across supply chains through new trade standards, legal regimes, and policies.
The core of any deal to address Puerto Rico’s imminent debt default long has been clear: strong fiscal oversight, paired with powerful tools to facilitate a necessary debt restructuring. But oversight should not overreach, and the new restructuring tools should respect the differences created by existing contracts. The legislation (PROMESA) that emerged from the House achieves the needed balance; it needs to pass the Senate quickly.
Speakers discussed the results of the United Kingdom’s referendum on withdrawing from the European Union, including the political and economic consequences and what this will mean for the UK and Europe as a whole.
Just because a U.S. presidential candidate bashes free trade on the campaign trail does not mean that he or she cannot embrace it once elected. After all, Barack Obama voted against the Central American Free Trade Agreement as a U.S. senator and disparaged the North American Free Trade Agreement (NAFTA) as a presidential candidate.
In the wake of the financial crisis of 2008 and the Great Recession that followed, many economists worried that even if the U.S. economy improved, unemployment would remain high for years to come. Some warned darkly of a “jobless recovery.”
The next president's trade policy will affect millions of Americans, as well as the health and competitiveness of the country’s economy. This video breaks down the decisions the president will face in developing a trade policy that promotes growth, while helping Americans adjust to new competition and ensuring regulatory standards.
Ambassador Robert Blackwill discusses the rise of geoeconomics in modern statecraft. Blackwill argues that the United States, historically a geoeconomic powerhouse, is no longer adept at pursuing its national interests through the use of geoeconomic instruments, and suggests a path to restore geoeconomics to its rightful role in American grand strategy.