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.
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.
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.
Even though there is little fundamental linkage between oil prices and the competitiveness of solar or wind power across the developed world, newly risk-averse investors in renewable energy Yieldcos are dumping investments they suddenly consider overvalued.
Elizabeth C. Economy and Michael Levi explore how Chinese demand drive global commodity prices, the broader implications of the Chinese slowdown for the global economy and regional security, and consequences of China’s resource quest for the world’s resource-producing states and industries.
Concern about inequality in the U.S. is getting well-deserved attention. Unfortunately, though, discussions of the problem too often rest on three misconceptions: that capital is rising as a share of the economy, that most of the rise in wage inequality is explained by growing gaps within companies between higher and lower paid workers, and that workers are increasingly moving from one job to another.
CFR adjunct fellow Blake Clayton draws on a century's worth of statistical data to offer a revolutionary new look at volatility and crisis in oil markets. Clayton explores the conditions in which oil supply fears arise, gain popularity, and eventually wane, and demonstrates the significant effects these stories have on financial markets.
As oil prices continue to drop, Michael Levi argues that the benefit to American consumers will outweigh any damage to the U.S. economy. However, how you view this plunge in oil prices "depends a lot on where you live and what work you do."
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.
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