The U.S. debt-to-GDP ratio has nearly grown to the Group of 7 (G7) average, a dramatic increase from 2000 when it was lower than most other G7 countries, according to a new progress report and scorecard from the Council on Foreign Relations Renewing America initiative. At its current rate, the U.S. debt-to-GDP ratio will be higher than all G7 countries except Japan by 2040.
The U.S. government faces an unsustainable long-term debt trajectory. This Progress Report and Scorecard outlines the factors affecting federal debt and suggests options for policymakers to address the impending crisis.
Over the past year leadership changes in many of the world's biggest emerging markets, such as China, India, Indonesia, and Thailand, have created hopes of dramatic economic liberalization among citizens of those countries and foreign investors.
Each year, governments around the world spend more than half a trillion dollars on fuel subsidies, crowding out productive investment in poverty alleviation and growth. CFR Senior Fellow Isobel Coleman proposes establishing a private-public partnership to help governments build the case for subsidy reform directly with citizens.
In making interest-rate decisions, the Fed should have a realistic view of the broad range of the existing systemic risks and of the limits of the government's currently extant macroprudential tools, write Martin Feldstein and Robert Rubin.
What's the difference between debt and deficit? What does the "fiscal cliff," a combination of tax increases and spending cuts, mean for deficit reduction? Research Links on Debt and Deficits provides news, research, data, and proposed solutions on debt and deficit in the United States (local and federal) and international comparisons.
During August 4-6, 2014, President Barack Obama convened the U.S.-Africa Leaders Summit, the largest gathering of African heads of state and governments ever assembled by a U.S. President. Fifty-one leaders focused on sustainable development, trade, collaboration, investment, and America's commitment to Africa's security, its democratic development, and its people. The summit took place during the same time as the 13th Annual African Growth Opportunity Act Forum.
On July 31, 2014, EU published rules for implementing new sanctions on Russia, after Russia's annexation of Crimea. The sanctions freeze accounts of certain officials and organizations and apply to dual-use goods, technology, and other military arms supply services.
Benn Steil's op-ed in the Wall Street Journal debunks the popular notion that the famous 1944 Bretton Woods agreements—establishing the IMF, the World Bank, and a dollar-based fixed exchange-rate system—were important in reviving global trade and growth after World War II. In fact, dependence on bilateral trade and inconvertible currencies was greater in the early postwar years than it was in the 1930s. The Marshall Plan and the creation of the GATT were, he argues, far more powerful instances of effective, enlightened, and enduring internationalism emerging from the war.
The Council on Foreign Relations' David Rockefeller Studies Program—CFR's "think tank"—is home to more than seventy full-time, adjunct, and visiting scholars and practitioners (called "fellows"). Their expertise covers the world's major regions as well as the critical issues shaping today's global agenda. Download the printable CFR Experts Guide.
The authors argue that it is essential to begin working now to expand and establish rules and norms governing armed drones, thereby creating standards of behavior that other countries will be more likely to follow.
The author examines Pakistan's complex role in U.S. foreign policy and advocates for a two-pronged approach that works to quarantine threats while integrating Pakistan into the broader U.S. agenda in Asia.