As the most powerful emerging economies—Brazil, China, and India—slow after years of unprecedented growth, panic over their challenge to global order seems unfounded. But stalled performance does not make them irrelevant, and advanced economies should integrate them into global economic institutions, writes Miles Kahler in World Politics Review.
Benn Steil and Emma Smith’s op-ed explains why the ECB should worry Emerging Markets almost as much as the Fed does. A big rise in speculative euro borrowing makes them vulnerable to euro appreciation, which could be dramatic if Draghi disappoints in March.
Chinese Premier Li Keqiang, Japanese Prime Minister Shinzo Abe, and South Korean President Park Geun-hye met in Seoul on November 1, 2015, for the Sixth Trilateral Summit, the first since 2012. The trilateral talks were proposed by South Korea in 2004 as a meeting outside of ASEAN to build cooperation on economic, humanitarian, security, and diplomatic issues. The first summit was held in Japan in 2008.
President Barack Obama spoke at the African Union headquarters in Addis Ababa on July 28, 2015. He discussed the ten year renewal of the African Growth and Opportunity Act and additional reforms and other assistance the United States and African leaders work on to increase trade, investment, and growth on the continent. He also addressed the need for presidents to respect term limits and transfer power peacefully and for nations to provide equal treatment for women and girls.
Leaders from Brazil, Russia, India, China, and South Africa met on July 9, 2015, in Ufa, Russia for the Seventh BRICS Summit, which marked the entry into force of the BRICS's New Development Bank (NDB), which the leaders expect to begin accepting investment requests in the beginning of 2016. The declaration also states the leaders' concerns on international security issues such as corruption, nuclear weapons, instability and conflict, and terrorism, and their commitments to social issues like global health and education.
On January 26, 2015 at the U.S.-India Business Council Summit, President Obama lays out new U.S. initiatives to increase investment and trade in India, related to removing barriers to investment, technology transfer, and inclusive growth.
U.S. President Barack Obama and Indian President Narendra Modi made this joint statement on January 26, 2015. They discussed clean energy and climate change, civil nuclear cooperation, and defense and economic cooperation. Both administrations also discussed their visions to strengthen ties in the Asia-Pacific region. Defense secretaries from both countires met in June 2015 and released the U.S.-India Defense Framework.
With the launch of the New Development Bank at the BRICS Summit yesterday in Fortaleza, Brazil, Julia Sweig highlights the potential impact of the new bank and why the United States should pay attention.
The sixth summit of the BRICS (Brazil, Russia, India, China, South Africa) countries met in Fortaleza, Brazil, on July 15, 2014. The theme of discussions was "Inclusive Growth: Sustainable Solutions" and the declaration detailed progress in establishing the BRICS's New Development Bank, which was first discussed in the 2013 Durban Joint Statement.
Charles Kupchan explores the normative dimensions of hegemony, examining the geopolitical, socioeconomic, cultural, and commercial logics that inform orders across four great powers: the Ottoman Empire, Imperial China, Great Britain, and the United States.
South Korea's development over the last half century has been nothing short of spectacular. Fifty years ago, the country was poorer than Bolivia and Mozambique; today, it is richer than New Zealand and Spain, with a per capita income of almost $23,000.
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 »