International Finance

Op-Ed

Keynesians are complacent about the dollar

Authors: Benn Steil and Manuel Hinds
Financial Times

Benn Steil's op-ed in the May 24th edition of the Financial Times, co-authored with Manuel Hinds, examines what it would mean for the United States to be obliged to function, like most of the world, without an internationally accepted money. They show why the U.S. not being able to pay its foreign debts in conjured currency would, contrary to Paul Krugman's view, be a big deal.

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Video

Japan's Great Earthquake: Societal Resilience and Determination to Reconstruct

Speaker: Masaaki Shirakawa
Presider: William J. McDonough

Masaaki Shirakawa, governor of the Bank of Japan, discusses the effects the March earthquake, tsunami, and events surrounding the Fukushima Daiichi nuclear power plant had on the Japanese economy, as well as the resilience and adaptability of the Japanese people.

This meeting was part of the C. Peter McColough Series on International Economics.

See more in Japan; International Finance

Audio

Japan’s Great Earthquake: Societal Resilience and Determination to Reconstruct (Audio)

Speaker: Masaaki Shirakawa
Presider: William J. McDonough

Masaaki Shirakawa, governor of the Bank of Japan, discusses the effects the March earthquake, tsunami, and events surrounding the Fukushima Daiichi nuclear power plant had on the Japanese economy, as well as the resilience and adaptability of the Japanese people.

This meeting was part of the C. Peter McColough Series on International Economics.

See more in Japan; International Finance

Other Report

Doubts About Capital Controls

Author: Francis E. Warnock

China's policy of holding down the value of its currency and monetary easing in the United States have led to large capital inflows into emerging economies. Although consensus in emerging markets has formed around capital controls, Francis E. Warnock challenges their underlying assumptions.

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Video

World Economic Update

Speakers: Peter R. Fisher, Desmond Lachman, and Peter R. Orszag
Presider: Sebastian Mallaby

Experts discuss U.S. federal spending levels, political battles over the budget in Congress, and the impact of events in the Middle East and Japan on the world economy.

This series is presented by the Maurice R. Greenberg Center for Geoeconomic Studies.

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Video

How Should the United States Address Its Chinese Trade Imbalance?

Speakers: Eswar Prasad, Peter Schiff, and Shang-Jin Wei
Presider: Joyce Chang

Experts outline variables such as nominal exchange rates, foreign exchange interventions, and macroeconomic imbalances as contributing factors affecting the trade relations between China and the United States.

This event was part of the McKinsey Executive Roundtable series in International Economics

See more in China; United States; International Finance; Trade

Audio

How Should the United States Address Its Chinese Trade Imbalance? (Audio)

Speakers: Eswar Prasad, Peter Schiff, and Shang-Jin Wei
Presider: Joyce Chang

Experts outline variables such as nominal exchange rates, foreign exchange interventions, and macroeconomic imbalances as contributing factors affecting the trade relations between China and the United States.

This event was part of the McKinsey Executive Roundtable series in International Economics

See more in China; United States; International Finance; Trade

Transcript Speaker: Lawrence H. Summers
Presider: Tim Ferguson

Lawrence H. Summers, director of the National Economic Council, remarks on volitile currency exchage rates, unstable European markets, and the negative effects of financial policy on organic economic growth.

This session was part of CFR's Stephen C. Friedheim Symposium on Global Economics which was made possible through generous support from Stephen C. Freidheim.

See more in Financial Crises; International Finance; Global

Transcript Speakers: Ajay Shah, Benn Steil, and Alan M. Taylor
Introductory Speaker: Richard N. Haass
Presider: Sebastian Mallaby

Experts discuss the the current global economy and their skepticism of effective capital control, as well as the future of currency pegging, fixed currency rates, and capital mobility.

This session was part of CFR's Stephen C. Friedheim Symposium on Global Economics which was made possible through generous support from Stephen C. Freidheim.

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Video

Currency Wars, Capital Controls, and the Outlook for the International Monetary System

Speakers: Ajay Shah, Benn Steil, and Alan M. Taylor
Introductory Speaker: Richard N. Haass
Presider: Sebastian Mallaby

Experts discuss the the current global economy and their skepticism of effective capital control, as well as the future of currency pegging, fixed currency rates, and capital mobility.

This session was part of CFR's Stephen C. Friedheim Symposium on Global Economics which was made possible through generous support from Stephen C. Freidheim.

See more in Monetary Policy; International Finance; Global