Under President Muhammadu Buhari, the fight against corruption in Nigeria has unquestionably turned a corner. Shortly after taking office in May, he vowed to “plug revenue leakages”, made sweeping changes in the notoriously corrupt Nigerian National Petroleum Corporation (NNPC), and took steps to tighten control over public spending.
Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that 2016 looks set to be a volatile year in which geopolitics and hard-to-quantify policy dilemmas create significant uncertainty in markets. Policymakers will be asked to make tough decisions about where and when to intervene in markets at a time when their capacity to deal with crisis is increasing challenged, suggesting the road ahead could continue to be bumpy.
Robert E. Litan argues that the Federal Reserve will be very cautious in the pace at which it raises federal-funds rates over the next twelve months. He argues that the risks to the U.S. economy over the next year outweigh the potential gains.
The Office of the U.S. Trade Representative reports annually to Congress on China's compliance with its World Trade Organization (WTO) obligations, based on China's policies and practices. The first report in 2004 was released exactly three years after China’s accession to the WTO.
World Trade Organization (WTO) particpants created the the Information Technology Agreement (ITA) in December 1996, which eliminated tariffs on specific technology product exports. From 2012 to 2015, WTO participants negotiated how to expand the ITA to cover additional technologies.
As climate plays a growing role in energy markets, serious energy analysis can no longer choose to focus only on traditional energy economics and geopolitics, write Michael Levi and Ed Morse. Policymakers, analysts, companies, and investors that deal in traditional energy will need to become much more sophisticated in their understanding of climate policy.
Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that the European Union (EU) faces rising populist pressure, reflecting long-term challenges to economic policymaking that can only partly be addressed by a cyclical recovery and debt relief. By strengthening the credibility of economic policy and the region’s resilience to shocks, better policy coordination and a faster path to economic union would go far toward securing a better economic future for Europe and addressing some underlying causes of populism.
French economist Thomas Piketty has won the fourteenth annual Council on Foreign Relations (CFR) Arthur Ross Book Award for Capital in the Twenty-First Century(Belknap Press) and will receive $15,000. On December 9, CFR will honor the awardees at a cocktail reception hosted by Gideon Rose, editor of Foreign Affairs and chair of the independent award jury.
When oil prices plunged in 2014, many analysts predicted that major exporters would have to drastically cut supply or else risk fiscal and geopolitical instability. Michael Levi explains why these predictions have been proven wrong.
The authors argue that the United States has responded inadequately to the rise of Chinese power and recommend placing less strategic emphasis on the goal of integrating China into the international system and more on balancing China's rise.
Campbell evaluates the implications of the Boko Haram insurgency and recommends that the United States support Nigerian efforts to address the drivers of Boko Haram, such as poverty and corruption, and to foster stronger ties with Nigerian civil society.
Learn more about CFR’s mission and its work over the past year in the 2015 Annual Report. The Annual Report spotlights new initiatives, high-profile events, and authoritative scholarship from CFR experts, and includes a message from CFR President Richard N. Haass. Read and download »