President George W. Bush and President Hu Jintao initiated the U.S.-China Strategic Economic Dialogue (SED) in 2006, where leaders from both nations meet twice a year to seek opportunities for bilateral cooperation. From 2009, President Barack Obama continued this series as the U.S.-China Strategic and Economic Dialogue (S&ED), though on an annual basis and with separate "tracks," the Treasury Department leading the Economic Track and State Department leading the Strategic track. The sessions conclude with a jointly-produced "Fact Sheet" detailing the agreements reached at that round of the SED.
Japanese Prime Minister Shinzo Abe spoke before the Australian Parliament on July 8, 2014. He discussed Japan's actions in World War II, the Japan-Australia Economic Partnership Agreement and other Pacific partnerships, and Japan's future contributions to global defense operations.
The 1944 Bretton Woods conference ensured a leading role for Washington in the global financial system but also contributed to present-day problems that will be difficult to fix, says CFR's Benn Steil.
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.
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.
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.
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.
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.
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.
Koblentz argues that the United States should work with other nuclear-armed states to manage threats to nuclear stability in the near term and establish processes for multilateral arms control efforts over the longer term.
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.
Learn more about CFR’s mission and its work over the past year in the 2014 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 »