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Global Economics Monthly May 2016

Author: Robert Kahn

Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that the crisis in Venezuela continues to escalate, with no recovery or relief in sight. A messy and chaotic default looms, and the rescue will likely involve a tough adjustment program, large-scale financing from international policymakers, and deep sacrifices from Venezuela’s creditors and, most of all, the Venezuelan people. China’s role, as Venezuela’s largest creditor, will be critical and precedential for other emerging market commodity exporters with too much debt.

See more in Americas; Economics

Article

Can the United States and China De-conflict in Cyberspace?

Authors: Adam Segal and Tang Lan
War on the Rocks

In spite of significant differences in views, Beijing and Washington appear committed to not letting cyber issues derail the U.S.-China relationship or interfere with cooperation on other high-profile issues. Among the wide range of issues raised at their recent meeting on the sidelines of the Nuclear Security Summit, Presidents Barack Obama and Xi Jinping reiterated their commitment to last September’s breakthrough cybersecurity agreement.

See more in China; United States; Cybersecurity

Other Report

The Transatlantic Trade Investment Partnership as a Foreign Policy Tool

What are the ways in which the Transatlantic Trade Investment Partnership (TTIP) could advance the noneconomic foreign policy interests of the United States, the European Union (EU), and EU member states? The Council on Foreign Relations gathered experts—including current and former policymakers, economists, political scientists, investors, and business representatives—to explore whether and how the still-evolving TTIP could be designed to meet foreign policy objectives.

See more in Europe; Trade; Treaties and Agreements