In the next five years, the International Monetary Fund (IMF) will face new challenges as it struggles to come to terms with a rapidly changing global marketplace and with lending rules poorly suited for the crises the institution will likely face. These challenges will force the IMF to scrutinize and adjust its lending rules. A broader issue is also at play: financial markets are becoming bigger more quickly than the institution’s resources are, and IMF rescue alone may be insufficient in the future . How the financing burden is shared with other official creditors will help determine whether the fund is an effective leader of the global effort to prevent and resolve economic crises in the coming decades.
In this op-ed, Cohen describes the mounting frustrations among certain judges, lawyers, and other legal professionals as ideology and politics continue to take precedence over the rule of law in China.
Next week, at a summit in California, US President Barack Obama will meet with the leaders of the ten countries of Asia’s most important regional grouping: the Association of Southeast Asian Nations. The event, the first-ever US-ASEAN summit on American soil, is being touted as a sign of America’s growing interest in Southeast Asia. The question is whether the US, by inviting all members of ASEAN, has allowed its interests to overwhelm its principles.
Authors: Max Boot and Michael Pregent Washington Post
President Obama, fresh off the implementation of the nuclear accord and a prisoner swap, may want to believe that Iran is, as he suggested to NPR a year ago while discussing what it would take to get a deal done, now on its way to becoming “a very successful regional power” that will abide “by international norms and international rules.”
In this op-ed, Cohen discusses the challenges faced by rights lawyers in China in deciding whether they are most effective by advocating within the existing framework of laws or by trying to push against the Chinese Communist Party's control of the legal system.
The Office of the U.S. Trade Representative reports annually to Congress on China's compliance with its World Trade Organization (WTO) obligations, based on China's policies and practices. The first report in 2004 was released exactly three years after China’s accession to the WTO.
Author: Stewart M. Patrick Global Summitry: Politics, Economics, and Law in International Governance
A defining feature of twenty-first century multilateralism is growing reliance on informal, non-binding, purpose-built partnerships and coalitions of the interested, willing, and capable. But the new multilateralism also presents dangers, among these encouraging rampant forum-shopping, undermining critical international organizations, and reducing accountability in global governance, writes Stewart Patrick.
There is no other area of global governance—not climate change, not management of the oceans, not monetary policy, not peacekeeping—in which the nations of the world have agreed to cooperate more closely than on the rules governing international trade. But over the past half-century, each step toward greater trade cooperation has been a bit harder than the last.
Remember the Iran nuclear deal, source of so much anxiety just one month ago? While much of the world watched in horror at the aftermath of the attacks in Paris, Iran began dismantling its centrifuges. But short-term compliance with the deal isn’t as important as what happens when it expires in 10 years.
Violence and rampant crime have triggered the flow of asylum seekers from El Salvador, Guatemala, and Honduras to the United States, which is seeking to help address the root causes, as this Backgrounder explains.
The November 13 terrorist attacks in Paris and late October bombing of Russian Metrojet flight 9268 have not only crystallized the threat of the self-declared Islamic State to the world, but also created an unlikely opportunity to open a dialogue with Russia. However, these tragedies do not change the long-term threat Russia poses to stability in Europe.
The Paris talks have been built up as a critical moment for confronting climate change, making even the perception of success important for momentum on lowering carbon emissions, writes CFR’s Michael Levi.