Financial Crises


A Still-Strong Alliance

Author: Charles A. Kupchan
Policy Review

Charles A. Kupchan argues that the Atlantic alliance is remarkably resilient, but it must now face the urgent challenge of economic and political weakness that has descended upon the West.

See more in United States; EU; NATO; Financial Crises


The Future of the Dollar: Currency Challenges in a Globalized World

Author: Benn Steil
Harvard International Review

Benn Steil argues that the world has no attractive alternatives to the current dollar-based international monetary system, but that the dollar's days of coasting on the accomplishments of the Volcker Fed are over. The Fed must demonstrate to the world anew that the dollar is a reliable long-term store of value.

See more in International Finance; Financial Crises

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Will "sequestration" lead to a more isolationist U.S. foreign policy?

Asked by Andreas Maldener, from Trier University

After more than a decade of war and several years of a deep financial crisis, many Americans are asking whether the country should focus more of its attention—and more of its resources—at home. That said, the impulse to lead is still strong in both political parties and most polls show that Americans still feel both a moral and strategic imperative to remain fully engaged in the world.

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See more in United States; Budget, Debt, and Deficits; Financial Crises

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How long will it take southern Europe to rebound from the eurozone crisis, and how will that affect the rest of Europe?

Asked by Jackson Ryan, from King HS

The debt crisis that has hammered southern Europe since 2010 will have long-lived economic effects, despite the moderation in Spanish and Italian government borrowing costs since the European Central Bank's "Outright Monetary Transactions" initiative last September.

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Ask CFR Experts Asked by Fagner Dantas, from Universidade Federal da Bahia

Globalization refers to the increasing ease with which goods, services, capital and people can move across the world, which has been accelerated by advances in technology and government policies to reduce barriers. In terms of reducing poverty in as many countries as possible, there is no question that globalizationcontinues to be beneficial, even after the 2008 financial crisis. Poverty continues to fall worldwide at a rapid rate, and countries most integrated into the world economy have seen the biggest reductions in poverty. But it is also true that even before the crisis, the gains from globalization were not spread evenly. Though millions have been lifted out of poverty and everyone benefits from cheaper consumer goods and the opening of new export markets, there are still winners and losers.

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See more in Global; Globalization; Financial Crises